Title: A Comparative Study of two Performance Measurement Models—Differences and Similarities Between EFQM Excellence Model and Balanced Scorecard and some Inspirations
Abstract: It is of great importance for more and more companies pursuing performance improvement to adopt the most effective performance measurement model because continuous improvement is based on performance measurement. This paper compares and contrasts two famous and widely utilized measurement models: the EFQM Excellence Model and Kaplan and Norton's Balanced Scorecard from the perspective of management control system including four central issues related respectively to objectives, strategies and plans, target setting, and reward structures. The similarities and differences summarized from the above analyses also give us some inspirations : managers should concentrate on how to implement strategic performance frameworks successfully in specific types of organization;Meanwhile, companies should take full advantage of the merits of both of the models.
Publication Year: 2005
Publication Date: 2005-01-01
Language: en
Type: article
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