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Does the Balanced Scorecard need to consider financial capital in the Learning & Growth perspective?The question A recent question on a Linkedin forum was, “Does the BSC need to explicitly consider the financial capital in learning and growth perspective? ” The questioner followed up with “Commercial organizations need funds such as equity and debt on an ongoing basis for continued operations and growth. But the learning and growth perspective [...] I was surprised to come across references to the King’s Fund research where they suggested that the new commissioning arrangements for GPs taking over fund holding might be managed using a “balanced scorecard”. Frankly I was shocked. You see the NHS do not understand the balanced scorecard approach at all. Let me give you some [...] An important aspect of balanced scorecard thinking is to understand what drives performance. The objectives in the learning and growth perspective are vital for this. The problem is many organisations change the name of the learning and growth perspective and rename it the “People perspective”. However this causes problems. Let us take just a [...] So often I come across “balanced scorecards” that have re-named the learning and growth perspective as “people” or “employees”. They think it is more representative. However the original name was given for a reason. There are three good reasons for keeping the name “Learning and growth”. First, names such as “employees” or “people” or “culture” [...] At this time of goal setting and new year resolutions we often face a problem. We set a goal or objective, (stop smoking, make more money, lose weight, change job, etc etc) and within a few days or weeks, the goal has been dropped. Good intentions melting away like snow when the sun rises. Good [...] Balanced Scorecard perspectives: Why call your balanced scorecard perspective “learning and growth”? Because people who change it make three fundamental mistakes in their balanced scorecard design and use by re-naming the “learning and growth” perspective to something like “people” or “employees”. So often I come Publish Postacross “scorecards” that have re-named the [...] |
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