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One of the workshops held at the Balanced Scorecard Forum 2011 Dubai, Executing Strategy with Balanced Scorecard, facilitated by Aldo Labaki & Roberto Wyszkowski, Palladium UAE, generated an environment of open discussions, including time allocated to questions and answers.
Benchmarking as a management concept is reported to have its roots in land surveying, where the altitude of objects is estimated based on a pre-established point of reference on an arbitrary landmark (McNary, 1994). Frederick Taylor is reported to be the first to use benchmarking along with other principles in a business enterprise to improve performance. Elements of benchmarking can be recognized in Taylor’s scientific management approach applied during his time at Bethlehem Steel Company (McNary, 1994), popularized in “The Principles of Scientific Management” .
Literature reveals that the influence of Marketing on firm performance, especially on the bottom line, has been extensively explored, mainly from a resource-based view (RBV) perspective (Hooley et al. 2005; Fine 2009; Nath, Nachiappan & Ramanathan 2010). It seems natural to estimate that Marketing (no matter its forms: Market Research, Marketing mix etc.), as long as it generates sales, impacts in a positive manner the bottom line.
DuPont, Toyota, Xerox, Analog Devices, Motorola…
What do they have in common?
Abstract reasoning and introspection enabled humans to advance scientific knowledge at an ever accelerating rate over the last 2500 years.
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