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Implementation of an IT Balanced Scorecard

Theory and Application

Master's Thesis 2009 51 Pages

Business economics - Business Management, Corporate Governance

Excerpt

Table of Contents

Index of Figures

Index of Tables

1 Introduction

2 Problem definition
2.1 Introduction to IT organisations
2.1.1 Structure of the examined IT department
2.1.2 Processes of the IT department
2.2 Existing management ratios
2.3 Goal of the thesis

3 The Balanced Scorecard (BSC)
3.1 BSC Fundamentals
3.1.1 Financial Perspective
3.1.2 Customer Perspective
3.1.3 Internal Perspective
3.1.4 Learning and Innovation Perspective
3.2 The BSC as Strategic Management System
3.2.1 Translating the Vision
3.2.2 Communicating and Linking
3.2.3 Business Planning
3.2.4 Feedback and Learning
3.3 Strategy Maps
3.4 Implementation of a BSC
3.5 Summary of BSC advantages
3.6 BSC criticism

4 Alternatives to the BSC
4.1 Gälweiler’s Strategic Navigation System
4.1.1 Comparison to the BSC
4.2 Stakeholder Scorecard
4.2.1 Architecture
4.2.2 Criticism

5 The IT BSC
5.1 Model of Kütz
5.1.1 Perspectives
5.2 Model of Schmid-Kleemann
5.2.1 Perspectives
5.2.2 Strategy Map
5.3 Symons’s IT Strategy Maps
5.3.1 Perspectives
5.3.2 Strategy Map
5.4 Conclusion on IT-BSC models
5.5 Alignment to corporate BSC
5.5.1 Definition of the IT strategy
5.5.2 IT functions within the corporate BSC

6 Implementation of the IT BSC for the IT department examined
6.1 Decision
6.2 Implementation
6.2.1 Mission statement
6.2.2 Vision statement
6.2.3 IT Strategy
6.2.4 Strategy Map
6.2.5 The IT BSC
6.2.6 Finishing the Implementation

7 Conclusions
7.1 Results
7.2 Further Improvements

8 References

Appendix A - The IT Strategy Map

Index of Figures

Figure 1: A generic strategy map (adopted from Kaplan 2004, p31)

Figure 2: Implementation steps of a BSC (adopted from Kaplan 2004, p33)

Figure 3: Strategic navigation system (adopted from Malik 2007, p186)

Figure 4: Strategy map of Schmid-Kleemann's model (Schmid-Kleemann 2003, p150) .

Figure 5: Strategy map of Symons's model (Symons 2005, p8)

Index of Tables

Table 1: Overview of existing management ratios

Table 2: Existing management ratios mapped to classical BSC perspectives

Table 3: Strengths and weaknesses

Table 4: Opportunities and threats

1 Introduction

Information technology (IT) plays a major role in today’s companies. Although, in most firms IT does not generate the core customer value itself, it rather supports creating additional customer value or enables cost efficiency of business processes. This is why IT departments are viewed in most cases as service centres of companies, providing a defined set of services for as low costs as possible. But, service centres should still strive to provide only these services which are necessary for supporting the company’s strategy. In the beginning of information technology, IT departments defined the quality and quantity of services provided for the firm. Also, innovations concerning IT, evolved mostly within the IT department. This was because only IT-staff has known the range of possibilities IT was able to offer. A major problem of the IT department defining the quality of service was that many improvements have been made for the sake of IT only and have not been aligned to the strategy of the company. Therefore, many resources of a company have been wasted in IT departments. However, for today’s businesses it is essential that IT enables only corporate strategies in order to remain effective.

Caused by the current financial crisis, uncertain times for businesses are expected. This makes strategy alignment and execution of IT departments even more significant in order to stay efficient and effective. But, a recent survey carried out by McKinsey & Company shows that there are still enormous potentials for improving the performance of IT departments. For example the survey shows that the basic services are met quite well by many IT departments, but the big challenges for supporting the business, still remain. Also, 67% of all respondents of the survey (chief information officers and senior executives) think that the business and IT strategy are not tightly integrated in their company. (cf. McKinsey 2008)

Consequently, strategy alignment of business and IT as well as strategy execution are not simple tasks. Processes which are supporting the strategy effectively have to be defined and controlled constantly. Controlling tangible assets, which affect the strategy, might turn out to be fairly complex, controlling intangible assets is even more difficult. For this reason, Kaplan and Norton, a professor of the Harvard Business School and a management consultant, have created in the beginning of the 1990s a framework for performance measurement based on the strategy of organisations. Kaplan and Norton called this framework the Balanced Scorecard. Nowadays, the Balanced Scorecard is one of the most accepted tools for performance measurement and strategic management - for industrial and public organisations, respectively.

2 Problem definition

In order to improve strategy alignment and execution for the IT department examined, the idea of a Balanced Scorecard implementation was born. In the following sections the IT department where the Balanced Scorecard was applied as well as general problems of IT organisations are presented.

2.1 Introduction to IT organisations

IT departments in general have to perform two major tasks: operation of existing systems also called IT operations and development and implementation of future systems, which is carried out in the form of IT projects. On the one hand IT operations is responsible for running all systems and it has to take care that these systems have downtimes only at a defined rate. On the other hand IT projects are carried out to make business processes more efficient and effective or to facilitate new forms of IT enabled business. IT operations and IT projects are very different to manage and control, because the results of operations are mostly short-term based and the results of projects are often long-term based. Additionally, specific management processes are needed to control an IT department. Besides the standard management processes, specific IT management processes are to define for example the IT architecture, the technological direction, IT risk management and the IT project portfolio.

2.1.1 Structure of the examined IT department

The examined IT department is a part of a major Austrian retailer and employs approximately 220 employees and will be referred merely as “IT department” in the following. To support all business fields, the IT department is divided into the following three subdivisions:

- Operations and Service Management
- Technology Management
- Application Management

Operations and Service Management is the first contact when IT problems occur and is mainly responsible for operating desktop computers. This subdivision includes for example the Help Desk, where computer problems can be reported to. The subdivision of Technology Management is responsible for developing IT networks and infrastructure, software development and operating servers and applications. Application Management performs business analysis, project management and third level support.

Additional to the three subdivisions, IT Management performs the communication interface to other divisions of the company, for example to the accounting department. IT Management is divided by organisational requirements in the areas: retailing, back office and service management. Moreover, in the IT organisation several staff functions exist, for example: IT administration, IT controlling (includes IT human resources and IT legal department), IT risk and compliance management as well as IT process and quality management.

2.1.2 Processes of the IT department

The processes of the IT department are grouped in four main categories: IT management processes, IT operations processes, IT project management processes and IT project implementation processes. These process groups have been implemented together with an external consultancy. Also, these process groups are based on well-known IT frameworks proposed by the external consultancy.

The IT management processes rely on the COBIT (Control Objectives for Information and related Technology) framework. COBIT is a collection of best practises for managing IT organisations developed by the IT Governance Institute. COBIT defines five focus areas of IT g]overnance: strategic alignment, value delivery, resource management, risk management and performance measurement. Furthermore, COBIT defines a guideline of four IT domains containing 34 IT processes (cf. IT Governance Institute 2007). One reason for implementing an IT Balanced Scorecard is, to improve the COBIT focus areas strategic alignment and performance measurement also. Strategic alignment focuses on the alignment of business and IT plans and operations as well as on validating the IT value proposition. Performance measurement controls and observes for example the implementation of strategy, process efficiency, project execution and service delivery.

The IT operations processes are based on ITIL (Information Technology Infrastructure Library). ITIL is a best practice guideline for IT service management. ITIL V2 (version 2) originally defined a set of service management processes. The IT department uses IT change management, release management, configuration management, incident management, problem management, availability management, continuity management, capacity management, service level management and financial management of the predefined ITIL V2 processes. With ITIL V3 a service lifecycle model was added to the best practice processes, in order to connect the four key stages of service: strategy, design, transition and operations. (cf. Clark 2007)

The project management processes are founded on best practise processes of the Project Management Institute (PMI). The PMI is a non-profit organisation aiming to improve project management standards. The IT department is using following project management processes: project initiation, project planning, project controlling, project change management and project conclusion.

The project implementation processes are based on the V-Model. The V-Model is an enhancement of the Waterfall Model (cf. Royce 1970). For every development phase of the developing process, a particular test phase is defined. This refers especially to the quality aspect of IT projects, because in many IT projects no accurate time for testing is reserved. The V-Model processes used by the IT department are: analysis, system design, component specification, implementation, component testing, system testing, acceptance testing and deployment to operations.

2.2 Existing management ratios

The IT department has an existing set of management ratios. These management ratios are categorised into human resources, budget, projects, service desk, application incidents, systems downtimes and business key performance indicators (KPIs). Most of the ratios are measured quarterly. The human resources ratios include for example number of employees, fluctuation rate, overtime per employee and the days of external consultants used. The budget compliance is measured by a quarterly deviation of the budget as a percentage. The project ratios include number and category of open projects as well as the quota of project management time compared to the total time consumed by projects. The most important service desk measure is the total number of help desk calls per week. Application and system ratios indicate how well applications and systems function. Finally, business KPIs inform about the data load which is processed by the IT department, for example the number of orders processed per quarter. Table 1 below shows an overview of the currently used management ratios of the IT department.

Table 1: Overview of existing management ratios

illustration not visible in this excerpt

A disadvantage of the existing management ratios is that it is not defined how important each ratio is. Furthermore, with the whole collection of ratios it is not possible to manage strategy of the IT department because the degree of significance to the IT strategy is not determined. Each ratio might be important to control specific processes or teams, but all ratios (in total 51 ratios) put on a dashboard are far to complex for reasonable strategic controlling of the department. Another drawback of the used ratios is that they are focused on tangible aspects, because they are easier to measure. This shifts the focus of the management from the not measured aspects to the existing ratios. The only quantified soft factor is employee satisfaction. But, employee satisfaction is generally a difficult ratio to measure, since a very sensitive approach must be selected, in order to receive feasible information.

2.3 Goal of the thesis

Because the retailer decided to implement the Balanced Scorecard as a strategic management system it seems logical to use the Balanced Scorecard also for improving and controlling the strategy execution of the IT department. Horváth and Partners management consultancy carried out a study of the main reasons for implementing a Balanced Scorecard. These reasons were also the basis for the IT department’s decision to implement an IT Balanced Scorecard. The main reasons are: a better strategy communication through the department, a uniformed view of the IT strategy, improvements of the cross-functional understanding within the IT department, a better commitment on the defined goals and introducing strategic learning. (cf. Horvath 2002)

Basically, two goals should be met with this thesis. The first goal is to provide an overview of the Balanced Scorecard’s latest findings and to explain possibilities for deploying a Balanced Scorecard to an IT department. The second goal is to develop a tailored Balanced Scorecard for the IT department examined.

3 The Balanced Scorecard (BSC)

In 1992 Robert S. Kaplan and David P. Norton published a Harvard Business Review article introducing the Balanced Scorecard (BSC) as performance measurement system (Kaplan 1992). Kaplan and Norton made a research with leading edge companies and found out that these companies did not rely solely on for example financial measures. Rather than relying only on financial measures Kaplan and Norton proposed four perspectives within a company, where mangers should focus on and where measures should be created. Due to the fact that four perspectives are used for the proposed performance management system, the word “balanced” in Balanced Scorecard derives from. (cf. Kaplan 1992)

3.1 BSC Fundamentals

The four perspectives of Kaplan’s and Norton’s BSC are the financial perspective, the customer perspective, the internal perspective as well as the learning and innovation perspective. The four perspectives are interconnected to each other. For example the prerequisite for proper financial results of a company are customers, buying goods or services from the company. Moreover, a precondition of having many satisfied customers is the mastery of the internal processes in a company. Internal processes of a firm are covered by the internal perspective of the BSC. Lastly, enabling efficient internal processes needs well educated and motivated people, which are focused in the learning and innovation perspective. In the following sections each perspective is discussed more detailed. (cf. Kaplan 1992)

3.1.1 Financial Perspective

The financial perspective should consider two important issues of a company: survival and success. Survival can be measured with cash flow, which is also a measure for liquidity. A company having no liquid assets has no chance to remain viable. Measures for success could be sales growth, profit or return on equity. Success of a company reflects how well goals are met. Besides survival and success, measures for the financial perspective are dependent on the financial strategy of a company. The financial strategy again is related to the stage in the life cycle of a company. The three basic life cycles of a company are growth, sustain, and harvest (Kaplan 1996b, p.48). Businesses in the growth stage are in the early stage of the life cycle and are characterised by their growth potential. Important measures for companies being in the growth stage are percentage growth values and growth of sales values. However most of the companies or business units are at the sustain stage of the life cycle. For the sustain stage a business is evaluated by its effectiveness. Financial measures which take effectiveness and productivity into account are for example return on investment as well as gross margin. In the end of the business life cycle a company has reached the harvest stage and the company wants to benefit from the investments made in the earlier stages. Thus, measures for the harvest stage are operating cash flow and reductions in working capital requirements.

Critics argue that measures of the financial perspective have a backward-looking focus and they do not reflect actual value creating actions. For example financial measures do not improve customer satisfaction, product quality or employee motivation. However, legal criteria of running a company are mainly based on financial aspects such as liquidity or profit.

3.1.2 Customer Perspective

The customer perspective reflects the value proposition of the product or service for the customer. Therefore, the measures for the customer perspective are in the categories time, quality, performance, service and cost. Lead time is defined as the time from order until delivery to the customer. Quality can be measured with many different values such as the defect rate. Performance and service should enhance the value for the customer. Thus, performance and service measures indicate to which level services contribute to the value of the product. Finally, cost, which is the product’s price for the customer, depends on in which market the business is in.

3.1.3 Internal Perspective

Excellent customer value is only possible by retaining excellent internal business processes. Hence, the internal perspective deals with all internal processes necessary for creating customer value. For setting up measures in the internal perspective, the key processes of the business have to be identified. Then, for these key processes key measures have to be defined which are in the areas of cycle time, quality, productivity and cost (Kaplan 1992, p75). For improving the measures of the key processes, the processes itself have to be decomposed and analysed on work station levels.

3.1.4 Learning and Innovation Perspective

The learning and innovation perspective is the basis of all other perspectives. Only if a company is able to improve processes and to innovate for creating new products, it will be able to have long-term success. Kaplan and Norton separate the learning and innovation perspective into three major aspects: the human capital which deals with the employees, the information capital which is about informational systems and the organisational capital which reflects the culture of a company. (cf. Kaplan 1996a)

For example, a measure of the learning and innovation perspective is the percentage of sales from new products. Another measure for this perspective could be the time to develop the next generation of a product.

3.2 The BSC as Strategic Management System

In 1996 Kaplan and Norton enhanced the BSC to a framework which supplies the means for strategic management. With four additional management processes, now the BSC can be utilised beyond performance measurement as a strategic management system. These processes are translating the vision, communicating and linking, business planning as well as feedback and learning. The four management processes are described as follows. (cf. Kaplan 1996a)

3.2.1 Translating the Vision

The general problem of a company’s vision is that it is formulated very general and can be interpreted in many ways. For example different managers of a company would give different definitions of a vision containing “superior service”. Therefore, the vision has to be clarified that everyone has a harmonised meaning of the vision’s statement. As a next step, the meaning of the vision should be transferred into all four perspectives of the BSC.

3.2.2 Communicating and Linking

When the contents of the vision are clarified, the next phase called “communicating and linking” can be started. In this phase the vision should be communicated to all employees, then the goals must be set and finally rewards should be linked to the performance measures of the BSC.

In the first step all employees have to be informed about the vision and educated in translating the vision to their specific area of work. This is because employees doing the actual work in achieving the vision must know what the vision is. Communicating the vision on contrary is not usual in all companies, because senior executives often believe that the vision and strategies have to be kept secret in order to not disclose this information to the competitor. However, a competitor having the same strategy and starting to implement this strategy as second, will not be able to gain the advantages of the first being at the market. Communicating and educating can be started for example with newsletters, brochures or meetings. Also, a way of sustainable information is groupware, where the information of the BSC can be spread easily.

Corporate goals which have been set in the BSC must be translated to goals for each business unit and to goals for individual employees. These goals must be consistent with the corporate goals of the BSC. These goals should also be linked in a further step to the rewards system of the company. This is because the linkage to the rewarding system creates personal involvement for the employees. However, linking the performance measures to rewards keeps also some dangers. A danger might be the emergence of unintended consequences because a natural behaviour of employees is the personal optimisation of the rewarding system. With this personal optimisation problem the original goals of the company could drift to unintended personal goals of employees.

3.2.3 Business Planning

Having communicated, set and linked all goals of the BSC, a redesign of the business planning process of the company is needed. This is because in most companies strategic planning and for example budgeting are not integrated. Therefore the key drivers of strategic success have to be determined. Once managers know the key drivers, they have to align the processes and strategic programs to the performance measures. For this reason milestones and short-term targets can be built into the traditional budgeting process.

3.2.4 Feedback and Learning

The last phase of implementing the BSC includes the controlling aspect. This is because the strategy must be checked continuously. This is also referred to as “strategic learning”. Fundamentally, the BSC incorporates three aspects of strategic learning. First, the BSC communicates a shared vision of the company, which should ideally be translated into measures for all divisions and subdivisions of the company. Second, the BSC is also a strategic feedback system, which means that with the BSC the strategy assumptions can be tested. Checking the strategy is carried out with the linkage of measures of the BSC. As explained in chapter 3.1 (BSC Fundamentals), the measures of the four perspectives are interconnected with each other. These cause-and-effect relationships must be illustrated, in order to test the BSC’s assumptions. For example a measure for educational programs in the learning and innovation perspective should cause faster innovation processes for the internal perspective. Using the BSC can prove the amount of correctness of this assumption. Third, the BSC makes it easy to perform a strategy review in a case where the feedback system shows negative results. Therefore, new or corrected assumptions can be built in into the BSC.

3.3 Strategy Maps

In one of their recent work, Kaplan and Norton focused on the cause-and-effect relationships within the BSC. Kaplan and Norton discovered that the cause-and-effect relationships of the key success factors in the various perspectives of the BSC are a central part when creating a BSC. Strategy maps were originally only a step of implementing the BSC - now they became one of the main topics. (cf. Kaplan 2004)

A strategy map basically describes how a company creates value for their shareholders. Through all four perspectives specific key success factors are linked with each other and show how different strategies could affect the value creation processes. Figure 1 below shows a generic strategy map.

illustration not visible in this excerpt

Figure 1: A generic strategy map (adopted from Kaplan 2004, p31)

In the financial perspective the tangible outcomes of the company’s strategy are measured. The overall strategic objective is to achieve a long-term shareholder value. To accomplish this objective, there are two major approaches: either improving productivity or growth. Many companies in established industries take the productivity strategy which tries to improve the expense situation. This can either be reached by improving cost structures or by increasing asset utilisation. On the other hand, the growth strategy can be achieved by expanding revenues in new markets for example with new products. Another tactic for supporting growth is by enhancing the customer value of products and services in order to gain more revenue.

The customer perspective of the strategy map indentifies how the customer value proposition is created and on which success factors it is dependent on. The customer value should be differentiated to other companies and sustainable in order to build a well- founded basis for the financial perspective. The strategy used in the customer perspective depends on the targeted customer segment. Kaplan and Norton offer four different customer value propositions: best total cost strategy, product leader strategy, complete customer solution strategy and the “locked-in” strategy. The best total cost strategy should underline low prices, consistent high quality, ease of purchase and a good selection. On contrary, the product leader value proposition must emphasise on high product performance and functions, being first to market and should penetrate new markets, because the product leader is charging a higher price than the average. A complete customer solution strategy demands high product and service quality and an excellent customer relationship. Lastly, the locked-in value proposition is characterised by widely used standards, high supplier switching costs and also a high quality.

The internal processes perspective defines the key processes which are necessary for executing the strategy. The most important processes for Kaplan and Norton are operations management, customer management, innovation and the regulatory and social processes. Operational excellence should be attained with supply, production and distribution processes which build a solid basis for high quality products. Customer management is important for knowing what the customer really wants. For product leader strategies innovation processes are of major importance for a continuing creation of new products.

The learning and innovation perspective is responsible for defining the intangibles necessary to execute the processes and create customer value. Thus, in the learning and innovation perspective following issues play a major role: the different jobs requirements, the needs for information systems and which corporate culture for the value-creating processes is significant.

3.4 Implementation of a BSC

The creation and introduction of a balanced scorecard should follow the steps shown in Figure 2 below.

illustration not visible in this excerpt

Figure 2: Implementation steps of a BSC (adopted from Kaplan 2004, p33)

First of all the mission defines the reason why the organisation exists. Also, in the mission statement the values of the company should be included and how the customer value will be created. After defining the mission, the vision of the company can be formulated. The vision statement includes basically long-term goals and should have an external focus. This means, that the vision should define how the organisation wants to be viewed by others. After setting mission and vision, the strategy of the company can be defined. The strategy is about how to reach the objectives set in mission and vision statement. In other words the strategy is the “ game plan ” (Kaplan 2004, p33) of the company.

Following these preliminary steps, first the strategy map and then the balanced scorecard can be implemented. The next step will be setting targets and planning initiatives to reach the targets. Finally, personal objectives for employees have to be derived from the company’s targets. (cf. Kaplan 2004)

3.5 Summary of BSC advantages

Before discussing critical voices of the BSC, the main advantages of the BSC will be outlined. The first advantage is the balanced view on the company over the four perspectives, whereas traditional performance measurement systems focused merely on financial aspects. Another advantage is that strategy is built by consensus and this strategy is communicated by the implementation process of the BSC. Furthermore, the BSC takes also intangible assets into consideration, which are mainly defined in the learning and innovation perspective. These intangible aspects are mostly long-term based and are a good complement to the short-term financial measures.

3.6 BSC criticism

The BSC is a holistic strategic tool which is based on consensus of the team implementing the BSC. Though to the fact that the BSC has an immense practical importance in today’s companies, there is also much criticism of the BSC concept.

One of the strongest criticism of the BSC is, that the BSC as defined by Kaplan and Norton in the beginning of the 1990s, is not based on a proven economic theory. Effectively, only in the recent years it was tried to find a theoretical basis for the BSC. Proposed basic concepts for the BSC are the shareholder value concept, the stakeholder value concept and systems theory (cf. Könert 2006). The shareholder value concept regards to the fact that financial issues are the first performance indicators and the most important survival criteria of a company. The stakeholder value concept refers specifically to the customer and employee perspectives of the BSC. Lastly, systems theory explains the cause-and-effect relationships of the BSC.

Another category of criticisms is related to implementation matters of the BSC. A danger during the implementation of a BSC is that there is no unified view and no clear recommendation how to implement. However, this threat can also be seen as an opportunity, so that the BSC is a very flexible strategic tool (cf. Könert 2006). A further danger might be choosing the wrong strategy beforehand. Having defined the wrong strategy leads eventually to a perfect implementation of this wrong strategy. This could happen when the management of a company has a unified but wrong opinion of external future developments. This was the case for example at Encyclopaedia Britannica (cf. Voelpel 2005). Yet another threat might be the measures of the scorecard itself. First of all wrong or not suitable measures can be chosen. The BSC misleads to use tangibles instead of intangibles because tangibles are easier to measure. Second, also measurement methods can be very expensive. Thus, the cost-benefit ratio of every measure must be considered. Third, measurement systems hold the risk of making measurement errors by changing the environment of the measure. For example, this could occur when trying to get a measure for employee satisfaction. Because, when confidentiality is not considered as prerequisite, employees could tend to deliver false satisfactory values. Hence, gaining measures must occur very accurately and one has to be aware of choosing the right measurement tools. An additional problem arises when new measures are taken into action. This is because there is no reference value, whether the measure indicates a positive or a negative state of a strategic matter. Such a case also happens when major changes of the BSC are inevitable.

Voelpel et al. took one step further and speak even of a “ tyranny of the Balanced Scorecard in the Innovation Economy ” (Voelpl 2005, p1). In the beginning of the 1990s the BSC was an innovative concept for a company’s performance measurement. But, in the beginning of the 21st century there is a shift of the traditional industrial economy to an “innovation economy”. The innovation economy is characterised by intangibles such as knowledge and innovation. Also, the level of complexity in firms has risen and must be coped with. A difference in the innovation economy is also that competition does not play the major role for developing strategies anymore. But, companies must develop a strategy that supports customer value innovation. On contrary to innovation strategies, competitive strategies often result in mere incremental improvements. Such non-competitive strategies are also subject of the so-called “Blue Ocean Strategy” (cf. Kim 2004). Voelpel et al. discuss five major drawbacks of the BSC for the innovation economy which are presented as follows (cf. Voelpl 2005).

First, the BSC is considered as a rigid system in context to the innovation economy. This is because the four perspectives limit the view on a company. However, Kaplan and Norton encourage expanding the perspectives on a company’s individual needs, but on the other hand for companies in the industrial economy only the original four perspectives are discussed (cf. Bontis 1999). Furthermore, the BSC does not take the changing nature of the innovation economy into account, where collaboration is a main issue (see also third drawback below “no external connectivity”).

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Details

Pages
51
Year
2009
ISBN (eBook)
9783640813025
ISBN (Book)
9783640813186
File size
3.5 MB
Language
English
Catalog Number
v165294
Institution / College
University of Salzburg – International Executive MBA General Management (Upgrade)
Grade
1
Tags
Balanced Scorecard IT BSC Strategic Management Strategy Map IT Department IT Strategy

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Title: Implementation of an IT Balanced Scorecard