Breadcrumbs

Case Studies

Statoil Energy provider Statoil has launched a project to ‘blow up the budget’, and replace it with a new planning and performance management approach that is built around the balanced scorecard. Background Headquartered in Stavanger, Norway, Statoil is an integrated oil and gas company with about 25,000 employees and activities in 32 countries. For 2005 it reported total revenues of approximately US$60 billion. Following a series of pilots during 2006,…
A world-class vision The major support functions (finance, IT, HR and procurement) of StatoilHydro (a Fortune 50 Stavanger, Norway, headquartered international energy company primarily focused on upstream oil and gas operations) share a simple, laser-focused vision: to be world-class by 2012. World-class is defined as top quartile against both effectiveness and efficiency dimensions of the US-headquartered The Hackett Group’s SG&A benchmark methodology (2). Global Business Services To enable a move…
Creating A Public Sector Scorecard Building and implementing a Balanced Scorecard Management System within a public sector organization comes replete with many challenges that are different than those faced by their private sector counterparts. For instance, public sector organizations typically place ‘customer’ as the top perspective as opposed to financial. In this first of a two-part series, we describe the key challenges of using the scorecard within a public sector…
The Balanced Scorecard and Business Excellence Frameworks The Balanced Scorecard is not the only performance management framework that busy executives can use to drive continuous improvement. Nor is it the only one to capture the intricacies of how non-financial enablers lead to financial outcomes. While some ‘balanced’ frameworks, such as the Value Creation Map are inspired by and follow Kaplan and Norton’s model, others, most notably the Malcolm Baldrige Framework…
The Perils of the Budget-Focused Organisation Jonathan Chocqueel-Mangan Director, Tyler-Mangan Ltd. Outline This article explains how ideas emerging out of the Beyond Budgeting Round Table are proving powerful alternatives to the conventional budgeting approach. Also described are how the Beyond Budgeting principles work well when deployed alongside the Balanced Scorecard. This is illustrated through a case study on the financial services provider Nordea. The ideas in this article are explored…
Beyond Balanced Scorecard: New Insights for Public Sector Agencies Peter Ryan, Corporate Performance Manager, Christchurch City Council, New Zealand Introduction Around the world a large percentage of successful companies use some form of Balanced Scorecard. The science of building and executing the scorecard in the private sector is now widely understood. One reason for this is that the bottom line of a company is actually fairly easy to describe. No…
The Balanced Scorecard Manager: A New Profession for the Knowledge Era Much has been written over the last fourteen years about the Balanced Scorecard. Yet virtually all of the millions of words describe the concept itself and the structural process of cascade and implementation. Remarkably little has been written about the roles and responsibilities of the Balanced Scorecard Manager. Given that expertise in strategy management is the most critical success…
Aligning Compensation with the Balanced Scorecard For most people, money is a powerful motivator. As a simple test, give somebody two tasks that require equal effort and allow them to decide which task to complete. Tell that person that if they complete task A you will thank them, but that if they complete task B you will give them a sum of money. Which task do you think most people…
Creating a Balanced Scorecard for the Boards of Directors The recent catastrophic corporate governance failures at Enron, Tyco, WorldCom, Parmalat and other entities triggered an equally cataclysmic collapse in the confidence that shareholders, and wider stakeholders, held in our organizations. People simply stopped believing what companies told them. Consequently, to regain public confidence, legislation such as Sarbanes-Oxley (which all US traded companies must comply to) was introduced to demonstrate that…
Page 1 of 2