Managing for results 135multi-measu

Managing for results 135
multi-measure, multi-stakeholder approach to organisation-wide P^or mance management, it recognises three key Stakeholders - shareholders, customers and employees - and for this- reason the approach is frequenly confused with the so-called ‘triple bottom-line' approach to defining and evaluating organisational performance. Both approaches certainly acknowl¬ - edge that shareholder value creation is not the only legitimate organisational objective and, as such, both challenge that defining corporate mantra of the 1980s and 1990s, the doctrine of 'shareholder value creation'. However, rather than seeing shareholder, customer and employee interests as distinct and unrelated, the balanced scorecard sees all three as being bound together in the organisational ‘value creation’ process, or ‘value chain’ (Kaplan & Norton 1992, 1996a & b; Mooraj, Oyon & Hostettler 1999).
Figure 5.3 summarises the four facets of value creation identified in the
Manced scorecard model, along with the associated stakeholder interests and functional responsibility areas for each. The fust is internal learn¬ing and growth, which covers employee commitment, capability, learning, creativity and well-being. This, of coursers primarily a human resource management responsibility and, as the developmental accent suggests, the balanced scorecard is very much in line with the resource-based view of the firm and the Harvard School model of 'best practice’, which we con¬sidered in chapter 4. The second area of value creation is that of internal business processes, which is predicated on employee learning and growth but where the immediate emphasis falls on production line and supply chain technical efficiency. In functional terms, this is the domain of engi¬neers and other systems management professionals. The third facet is the realm of the external customer: the end user of the outcomes from these internal processes and the source of market value creation. Here, func¬tional responsibility lies chiefly with sales and marketing professionals. The final facet is that of value realisation for the organisation’s owners, which, in the case of listed companies, are the external shareholders. This could be said to be the functional realm of finance and accounting pro¬fessionals. Overall, then, the hypothesised value creation process brings together not only employees, customers and shareholders but also profes¬sionals from all of the main functional fields. In this sense, it is a formula for the integration of both stakeholder interests and functional expertise, with human resource managers taking a lead role. The model is also said to enable the systematic evaluation of the ‘downstream’ impact of particular human resource development initiatives on process, customer and financial
outcomes.

Kết quả (Việt) 1:

Quản lý các kết quả 135cách tiếp cận nhiều biện pháp, các bên liên quan nhiều đến tổ chức toàn P ^ hoặc quản lý mance, nó nhận ba phím bên liên quan - cổ đông, khách hàng và nhân viên - và vì lý do này là cách tiếp cận là những nhầm lẫn với cái gọi là 'triple dưới cùng-Line' cách tiếp cận để xác định và đánh giá hiệu suất tổ chức. Cả hai phương pháp tiếp cận chắc chắn acknowl¬ - cạnh đó cổ đông tạo ra giá trị không phải là mục tiêu chỉ hợp pháp của tổ chức, và như vậy, cả hai thách thức đó thần chú công ty xác định của thập niên 1980 và thập niên 1990, các học thuyết của 'tạo ra giá trị cổ đông'. Tuy nhiên, thay vì nhìn thấy lợi ích của cổ đông, khách hàng và nhân viên như là riêng biệt và không liên quan, bảng điểm cân bằng nhìn thấy cả ba là ràng buộc với nhau trong quá trình tổ chức 'giá trị sáng tạo' hoặc 'giá trị chuỗi' (Kaplan Norton 1992, 1996a & b; Mooraj, Oyon & Hostettler năm 1999). Hình 5.3 toùm bốn khía cạnh của việc tạo ra giá trị được xác định trong cácManced scorecard model, along with the associated stakeholder interests and functional responsibility areas for each. The fust is internal learn¬ing and growth, which covers employee commitment, capability, learning, creativity and well-being. This, of coursers primarily a human resource management responsibility and, as the developmental accent suggests, the balanced scorecard is very much in line with the resource-based view of the firm and the Harvard School model of 'best practice’, which we con¬sidered in chapter 4. The second area of value creation is that of internal business processes, which is predicated on employee learning and growth but where the immediate emphasis falls on production line and supply chain technical efficiency. In functional terms, this is the domain of engi¬neers and other systems management professionals. The third facet is the realm of the external customer: the end user of the outcomes from these internal processes and the source of market value creation. Here, func¬tional responsibility lies chiefly with sales and marketing professionals. The final facet is that of value realisation for the organisation’s owners, which, in the case of listed companies, are the external shareholders. This could be said to be the functional realm of finance and accounting pro¬fessionals. Overall, then, the hypothesised value creation process brings together not only employees, customers and shareholders but also profes¬sionals from all of the main functional fields. In this sense, it is a formula for the integration of both stakeholder interests and functional expertise, with human resource managers taking a lead role. The model is also said to enable the systematic evaluation of the ‘downstream’ impact of particular human resource development initiatives on process, customer and financialkết quả.