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Welcome to the BBRT global newsletter, which is designed to keep you informed of developments in Beyond Budgeting and the BBRT. For further information visit our web site at www.bbrt.org.
Why the balanced scorecard faisl to support empowerment and innovation
The balanced scorecard is one of the most popular management tools around today but most fail to deliver on their promises. The idea of the scorecard sounds neat: to focus managers on formulating and executing their strategy rather than managing departmental budgets. But is the scorecard the right solution for organizations that need to continuously innovate and adapt? This paper examines this question and also suggests ways that the scorecard can add value.
Why key performance indicators (KPIs) should support fast response rather than control
KPIs are high on the list of most organization improvement agendas. But few organizations have understood how they should be chosen and used. What exactly is a KPI? How many should we have? How do we get value from them? This paper discusses these and other issues and provides some recommendations that managers can follow to get more value from these important measures.
Why innovation is the key value driver in the innovation economy
The rise of intellectual capital as the key driver of shareholder value is now acknowledged to be a key feature of management in the innovation economy. It has profound implications for performance management as budgets focus on managing financial assets and tend to ignore intellectual assets. This paper looks at the impact of intellectual capital and how managers can begin to measure and manage it.
How to enable knowledge sharing without expensive systems
Knowledge sharing and better collaboration is high on every CEO’s wish list of organizational improvements and many organizations have made significant investments in technology to enable this to happen. But most leaders have been disappointed with the results. The trouble is that many of the barriers are connected less with technology and more with the command and control mindset and the management systems that support it. This paper examines these issues and suggests ways that organizations can better enable knowledge sharing and collaboration to become embedded in the cultural ‘norms’ of the organization.
The BBRT INSIGHTS research papers are delivered to BBRT members on a regular basis. BBRT members can download the full paper from the BBRT Private Forum. Join the BBRT to get access to the full papers and all the past BBRT research material.
Transforming financial planning in small and medium-sized enterprises
At the core of performance management is the planning and budgeting process. For most companies plans and budgets are negotiated, annual and fixed. Nothing is more likely to stifle adaptive and innovative management that this rigid, sterile process. That’s why companies need to move to a more continuous, rolling process and abandon annual planning and budgeting. This paper examines these issues, how small and medium sized companies that are still adaptive, responsive and innovative can avoid the sclerosis of many larger companies and how managers can implement a more continuous approach to planning.
This paper can be downloaded from BBRT On-line
This paper was presented at the 21st Stuttgarter Controller Forum, Stuttgart, Germany on 18 September 2007 and is also published in Horváth, P. (Ed) (2007) Erfolgstreiber für das Controlling. Stuttgart, Schäffer Poeschel Verlag. P 177
Contact Peter Bunce for more details about BBRT in Europe.
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BBRT is an independent international shared learning network for all organizations that seek to improve their performance management through sharing information, past successes and implementation experiences. Our purpose is to help organizations introduce a new management model for the innovation age.
For more information, please visit www.bbrt.org, email Peter Bunce, or call +44 1590 679803
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