Performance measurement tools: the Balanced Scorecard and the EFQM Excellence Model

Performance measurement tools: the Balanced Scorecard and the EFQM Excellence Model Performance improvement is high on the agenda of many companies around the world and with the growing number of improvement models now available care has to be taken to adopt an approach that will yield the most attractive return on investment. This paper compares and contrasts two widely known and well‐publicized improvement models: Kaplan and Norton’s Balanced Scorecard and the EFQM Excellence Model. Each consists of a non‐prescriptive template offering managers a relatively small number of categories of key performance metrics to focus on. Here, they are examined from a critical perspective with regard to five central issues represented by five questions relating to objectives, strategies and plans, target setting, reward structures and information feedback loops. The analysis conducted reveals that despite having some significant differences both approaches seem to be developed from similar concepts. The paper concludes that it is difficult to find a perfect match between a company and a performance measurement framework and that further research should concentrate on how to implement strategic performance frameworks effectively in specific types of organization. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Measuring Business Excellence Emerald Publishing

Performance measurement tools: the Balanced Scorecard and the EFQM Excellence Model

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Publisher
Emerald Publishing
Copyright
Copyright © 2003 MCB UP Ltd. All rights reserved.
ISSN
1368-3047
DOI
10.1108/13683040310466690
Publisher site
See Article on Publisher Site

Abstract

Performance improvement is high on the agenda of many companies around the world and with the growing number of improvement models now available care has to be taken to adopt an approach that will yield the most attractive return on investment. This paper compares and contrasts two widely known and well‐publicized improvement models: Kaplan and Norton’s Balanced Scorecard and the EFQM Excellence Model. Each consists of a non‐prescriptive template offering managers a relatively small number of categories of key performance metrics to focus on. Here, they are examined from a critical perspective with regard to five central issues represented by five questions relating to objectives, strategies and plans, target setting, reward structures and information feedback loops. The analysis conducted reveals that despite having some significant differences both approaches seem to be developed from similar concepts. The paper concludes that it is difficult to find a perfect match between a company and a performance measurement framework and that further research should concentrate on how to implement strategic performance frameworks effectively in specific types of organization.

Journal

Measuring Business ExcellenceEmerald Publishing

Published: Mar 1, 2003

Keywords: Balanced Scorecard; EFQM Excellence Model; Management; Performance measurement; Continuous improvement.

References

  • The changing basis of performance measurement
    Ghalayini, A.M.; Noble, J.S.
  • Strategic management of electronic commerce: an adaptation of the Balanced Scorecard
    Hasan, H.; Tibbits, H.
  • Performance management: a framework for management control system research
    Otley, D.T.
  • Striving for excellence: how self‐assessment using the Business Excellence Model can result in step improvements in all areas of business activities
    Shergold, K.; Reed, D.M.

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