Balanced Scorecard in Indian Companies

Manoj Anand, B S Sahay, and Subhashish Saha

There has been growing criticism of financial measures in performance evaluation system in postreform India as they are historic in nature and lack futuristic outlook. Their relevance in the information age, when the companies are building internal assets and capabilities, is questioned. The situation may worsen when the firm is compelled to pursue short-term goals at the cost of the organization’s long-term objectives.

Kaplan and Norton developed an innovative and multi-dimensional corporate performance scorecard known as the Balanced Scorecard. It compels the firm to align its performance measurement and controls from the customers’ perspective, internal business processes, and learning and growth perspectives and investigate their impact on the financial indicators. There are arguments that the Balanced Scorecard should be ‘unbalanced’ based on the strategy followed by the firm. The corporate experiences with the implementation of the Balanced Scorecard suggest mixed results. In this article, the authors a) identify the extent of the usage of the Balanced Scorecard by corporate India; b) explore whether Indian firms use all the four perspectives, namely, customer, financial, internal business, and learning and growth in their performance scorecard; c) capture the management motivations for implementation of the Balanced Scorecard; d) identify the key performance indicators in different perspectives of the performance scorecard; and e) evaluate the performance of the Balanced Scorecard as a management tool. 

Balanced Scorecard And Strategy Focussed Execution

By: Dr. Pratik P. SURANA

Chief Mentor and Founder

Quantum worldwide

The ability of an organization to execute its strategy is directly proportional to its ability to understand and communicate the strategy. The most successful tool for articulating, implementing, and managing the overall business strategy is the Balanced Scorecard. The Balanced Scorecard (scorecard for short), developed in 1992 by Dr. David Norton and Robert Kaplan, has gained global acceptance as a powerful framework to help leaders define and rapidly implement strategy. This is accomplished by translating the corporate vision and strategy into a set of strategic objectives that drive behaviour and performance.

Traditional performance measures are insufficient to gauge performance and guide organizations in today’s rapidly changing, complex economic landscape. Organizations need to link performance measurement to strategy, and must measure performance in ways that both promote positive future results and reflect past performance

Emotional Intelligence and Job Stress among Bank Employees

The revolutionary changes witnessed in the nature of work in business organizations, particularly during last four decades, have greatly influenced the work culture and performance of these organizations. There was a huge introduction of new technology, predominantly the use of computers, into the place of work followed by a massive shift towards globalization, with many organizations undergoing strategic alliances, acquisitions, mergers and privatizations. The end result of this entrepreneurial period was increased economic competitiveness in international markets. A major restructuring of work took place in the 1990‘s. Many organisations in different countries hit by recession were downsising in an effort to survive. With the first light of the 21st century, this trend for downsizing and restructuring continued in many organizations, together with an increase in outsourcing and sub-contracting, in order to survive and compete successfully in the increasingly competitive and dynamic global market. Stress at workplace is a moderately new phenomenon of today‘s lifestyles. The characteristic of work has gone through strong changes from the last few century and it is still changing at fast speed they have touched almost all professions. Occupational stress poses a threat to physical health being. Working at occupation related stress in the life of organised employees, as a result, affects the health of organisations (Sanyo Moosa, 2009).

Emotional Intelligence and Job Stress among Bank Employees in India

Research paper by:
Dr. Pratik P. SURANA (Ph. D.)
Chief Mentor and Founder Quantum Group

The revolutionary changes witnessed in the nature of work in business organizations, particularly during last four decades, have greatly influenced the work culture and performance of these organizations. There was a huge introduction of new technology, predominantly the use of computers, into the place of work followed by a massive shift towards globalization, with many organizations undergoing strategic alliances, acquisitions, mergers and privatizations. The end result of this entrepreneurial period was increased economic competitiveness in international markets. A major restructuring of work took place in the 1990‘s. Many organisations in different countries hit by recession were downsizing in an effort to survive. With the first light of the 21st century, this trend for downsizing and restructuring continued in many organizations, together with an increase in outsourcing and sub-contracting, in order to survive and compete successfully in the increasingly competitive and dynamic global market. Stress at workplace is a moderately new phenomenon of today‘s lifestyles. The characteristic of work has gone through strong changes from the last few century and it is still changing at fast speed they have touched almost all professions. Occupational stress poses a threat Research Paper by Dr. Pratik P. SURANA , ps@bodhisattvalearning.com 

White Paper on Emotional Intelligence in Educational Context in India

Dr. Pratik P. SURANA
Ph.D. (Emotional Intelligence)
EQ I 2.0 certified practitioner, Life Coach 
Founder: Quantum group 
pratiks@quantumtrainings.com

Emotional intelligence (EI), after the publication of Daniel Goleman’s first book on the topic in 1995, has become one of the most popular and the most researched psychological constructs of the 21st century (Ashkanasy, 2003; Bar-On 2006), and more emphasis has been given on the role of emotions in an individual’s success or failure in both aspect of individual’s life i.e. workplace (job) and in real life situation. Though the term was first used in the doctoral thesis of Wayne Payne, “A Study of Emotion: Developing Emotional Intelligence”, but popularized by Goleman (1995). The concept of EI has inspired applied research in every field be it management, academics, life sciences or psychology. It is found that the majority of research in this area has been conducted in Western countries, recent studies have begun to assess the generalizability and validity of the EI concept in crosscultural settings.

Making Emotionally Intelligent Work life: A Technical Report on the Training Approaches to be taken to build Emotionally Intelligent Workforce.

Report Compiled by:
Dr. Pratik P. SURANA 
Ph.D. ACTP, EQ I 2.0 
Certified Practitioner Chief Mentor and Founder, 
Quantum,India

Current interest in “emotional intelligence” has raised the question of whether it is possible to improve the social and emotional competence of adult workers. Research in training and development, sports psychology, and behaviour change suggests that it is possible, but the typical approach used in corporate training programs usually is flawed. Social and emotional learning is different from cognitive and technical learning, and it requires a different approach to training and development. This report presents 22 guidelines for developing emotional intelligence in organizations, based on the best knowledge available on how to promote social and emotional learning. We have estimated that Global business each year loses between 5.6 and 16.8 billion dollars by not consistently following these guidelines. The basis for this estimate can be found in the last section of the report. Research for this report was conducted under the auspices of the Consortium for Research on Emotional Intelligence in Organizations. The Consortium is made up of nine individuals from academia, government, and the corporate sector. All of the individuals are recognized experts with considerable experience in both research and consulting.