THOUGHT FOR THE DAY

Success

"Failure is success if we learn from it."

- Malcolm Forbes

TOPIC OF THE DAY

Performance Prism

Performance Prism is a framework for measuring company performance which takes account of the two-way relationships between an organization and all its stakeholders. The performance prism was developed by researchers from the Centre for Business Performance at Cranfield School of Management in England and Accenture. The model takes a similar approach to the balanced scorecard in that nonfinancial measures of performance are analyzed, but it takes account of a wider range of stakeholders including investors, customers, employees, suppliers, regulators, and communities. The factors to be analyzed are represented as the five faces of a prism: stakeholder wants and stakeholder contribution at the ends, and strategies, processes, and capabilities as the three internal facets.

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