1. Learning Objectives:
- Understand the need for performance evaluation systems
- Understand the complexities of creating, updating and refining incentive systems
- Develop an understanding of the critical link between strategy and management control systems, outcomes & assessments
2. Preparation
- Read: What is a Balanced Scorecard?
- Advanced performance Institutes
- Consider which perspectives are balanced
- Financial performance
- Customer satisfaction
- Internal processes & efficiency
- Organizational (knowledge, training, employees)
- Consider why metrics need to take into account so many diverse elements?
- Short term / long term
- Internal / external
- Customer / employee
- Qualitative / quantitative
- Financial / non- financial
- Consider which perspectives are balanced
- Read and prepared to discuss in class
- Google, Amazon, Starbucks – tax shaming (BBC)
- Starbucks pays taxes for first time 17 years in UK
- Pfizer’s buyback elixir to shareholders, jagged little pill for R&D (Globe and Mail, January 1, 2016) article
Library PURL – https://go.library.ubc.ca/QhXvkh - Walmart raids by US aimed at Illegal Aliens (New York Times, October 24, 2003) article
- Bonuses incur wrath of Church of England (Globe and Mail , April 23, 2013) article
Library PURL – https://go.library.ubc.ca/jZFQqJ
3. Other actions:
4. References:
- Fat Cats Feeding (Economist, October 9, 2003) article
Library PURL – https://go.library.ubc.ca/jbjsCR - What is responsibility accounting?
- Balance Scorecard (Defined) –> link
- Creating metrics to foster innovation. Read Article
- What gets measured gets done. Or does it? (Forbes, June 2015) Article
- How do you measure innovation? Read article
- BC Ferry Compensation Disclosure 2015 File
- BC Coastal Health Compensation 2015 File
- BC Hydro Compensation 2015 File