People do not generally believe in something until that something starts changing the world. The road to stardom followed by the Performance Scorecard may have passed unnoticed to many, but we cannot overlook the instances in which the entire world reaps the benefits of its use.
The concept of organizational maturity generally refers to the evolutionary process of an organization building its people, processes and technology readiness and capability through the adoption of quality practices.
“In theory, there is no difference between theory and practice. In practice there is.”- Yogi Berra
Organizations change forms. They either do so in response to the external environment or as a result of organizational change. Much often thrown around and bandied about, change is however no longer the buzzword in performance management.
Every day, there are millions of cash transactions taking place around us. The entities that allow for these cash transactions to be conducted in secure conditions are commercial banks. The reason that banks can provide this security is not because they are blessed with the necessary infrastructure to do so, but because we, as people, gradually discovered the need for such an infrastructure.
When we think of commercial banks, we envision money making machines, and some people use this expression figuratively. This may arise from the popular misconception that banks outlive entire systems because they print out money whenever they feel close to bankruptcy.