The principles underpinning the Balanced Scorecard were first outlined in a book, The Balanced Scorecard Translating Strategy into Action, by Robert Kaplan, from Harvard Business School, and David Norton, from Renaissance Solutions, a United States-based management consultancy.

Since the book's release in 1996, the concepts outlined in it have taken the business world by storm. The Balanced Scorecard is defined by the Balanced Scorecard Institute as a 'measurement-based strategic management system (providing) a method of aligning business activities to the strategy, and monitoring performance of strategic goals over time''.

It builds on some previously developed management ideas, such as Total Quality Management, which focuses on such key areas as customer-defined quality, continuous improvement, employee empowerment, and measurement-based management and feedback.

A workshop on the balanced scorecard offered by CED last year was enthusiastically received, says Peter Fong Kwok-wing, principal programme director and deputy head at CED. He expects an equally enthusiastic response this year.

The centre offers an average two or three seminars or conferences targeted at high-profile executives per year. A two-day seminar on online security and e-government that was held in February, attracted 140 participants. A one-day seminar in August will focus on the new securities and futures ordinance, which was enacted in April.

'We expect 200 to 300 people to attend,'' Dr Fong says. Speakers will include key figures in the Securities and Futures Commission, the Hong Kong Monetary Authority, and the legal profession. They will explain how the new regulations will affect various business sectors.

Corporate in-house training is another important sector. The centre organises five to six courses tailor-made for different companies and government departments per year. Continuing Professional Development courses are also offered. These are targeted at lawyers, engineers, doctors, and other professionals who need to take courses every year to maintain their membership in professional bodies.

Courses targeted at senior executives and managers both in Hong Kong and the mainland round out the centre's offerings.

More and more executives are coming to Hong Kong from the mainland, Dr Fong says.

'Last year, we had 40 different groups coming down for one or two weeks' training, about half of them from telecommunications companies.''

Banks and government departments made up the balance.

'All of these executives and government officials want to know international rules and practices to follow World Trade Organisation regulations and to compete with multinationals. By 2005, there will be no more subsidies for Chinese companies. They will have to learn how to be competitive.''