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Using the Balanced Scorecard in the public sector: An interview with Kenneth Thompson, Professor, Kellstadt Graduate School of Business, DePaul University – Episode #89
Gov Innovator Podcast
English - May 13, 2015 07:22 - 9.41 MB - ★★★★★ - 18 ratingsGovernment culture interview business news comedy health entrepreneurship leadership politics Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
The Balanced Scorecard was introduced by Harvard Business School professor Robert Kaplan and management consultant David Norton in a 1992 Harvard Business Review article. It quickly became one of the most well-known approaches to performance management in the private sector. It was developed out of a concern that companies were placing too much emphasis on short-term financial […]
The post Using the Balanced Scorecard in the public sector: An interview with Kenneth Thompson, Professor, Kellstadt Graduate School of Business, DePaul University – Episode #89 appeared first on Gov Innovator podcast.
The Balanced Scorecard was introduced by Harvard Business School professor Robert Kaplan and management consultant David Norton in a 1992 Harvard Business Review article. It quickly became one of the most well-known approaches to performance management in the private sector. It was developed out of a concern that companies were placing too much emphasis on short-term financial indicators, without enough attention to longer-term drivers of organizational success. As a result, the Balanced Scorecard tracks indicators in four categories: 1) financial; 2) customer (or stakeholder) satisfaction; 3) internal processes; and 4) learning and growth.
Since then, many government agencies have adopted the balanced scorecard as well. To learn more, we’re joined by a leading expert, Kenneth Thompson, a professor of management at the Kellstadt Graduate School of Business at DePaul University. He is the co-author, with Nicholas Mathys, of an IBM Center for the Business of Government report focused on applying the Balanced Scorecard to government agencies. As the authors explain, the Balanced Scorecard is a tool “for translating an organization’s strategy into action through the development of performance objectives and measures in order to fulfill its mission.”
Web extras: Kenneth Thompson discusses the four traditional components of the Balanced Scorecard, plus he adds a suggested additional fifth component. [click here] Also, he provides the example of Motorola to explain the motivation behind the Balanced Scorecard. [click here]
The post Using the Balanced Scorecard in the public sector: An interview with Kenneth Thompson, Professor, Kellstadt Graduate School of Business, DePaul University – Episode #89 appeared first on Gov Innovator podcast.