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<blockquote style='border:none;border-left:solid black 1.5pt;padding:0cm 0cm 0cm 4.0pt;
margin-left:3.75pt;margin-top:5.0pt;margin-right:0cm;margin-bottom:5.0pt'>

<p style='margin-left:36.0pt'><span class=GramE><font size=3 color=navy
face=Arial FAMILY=SANSSERIF><span style='font-size:12.0pt;font-family:Arial;
color:navy'>Its funny how one’s devil strikes.</span></font></span><font
color=navy face=Arial><span style='font-family:Arial;color:navy'> Just incoming
to my inbox:<o:p></o:p></span></font></p>

<p class=MsoNormal><span class=newheadline41><b><font size=1 face=Verdana><span
style='font-size:9.0pt'>FIRST EVER HUMAN CAPITAL EUROPEAN SUMMIT 2004</span></font></b></span><o:p></o:p></p>

<p class=standardbody><font size=1 face=Verdana><span style='font-size:8.5pt'>Based
on the outstanding success in the US, Balanced Scorecard Collaborative and
Leading Minds proudly present the <b><span style='font-weight:bold'>Human
Capital European Summit 2004</span></b>, <i><span style='font-style:italic'>“Aligning
Human Capital with Business Strategy through the Application of the Balanced
Scorecard” </span></i><b><span style='font-weight:bold'>25-26th March
2004 </span></b>in<b><span style='font-weight:bold'> Amsterdam. </span></b><o:p></o:p></span></font></p>

<ul type=disc>
 <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
     line-height:12.0pt;mso-list:l0 level1 lfo1;tab-stops:list 36.0pt'><font
     size=1 face=Verdana><span style='font-size:8.5pt;font-family:Verdana'>Understand
     the alignment of Human Capital to strategy <o:p></o:p></span></font></li>
 <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
     line-height:12.0pt;mso-list:l0 level1 lfo1;tab-stops:list 36.0pt'><font
     size=1 face=Verdana><span style='font-size:8.5pt;font-family:Verdana'>Measure
     the contribution of Human Capital to business performance <o:p></o:p></span></font></li>
 <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
     line-height:12.0pt;mso-list:l0 level1 lfo1;tab-stops:list 36.0pt'><font
     size=1 face=Verdana><span style='font-size:8.5pt;font-family:Verdana'>Create
     a framework for organizational alignment <o:p></o:p></span></font></li>
 <li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
     line-height:12.0pt;mso-list:l0 level1 lfo1;tab-stops:list 36.0pt'><font
     size=1 face=Verdana><span style='font-size:8.5pt;font-family:Verdana'>Create
     HR strategy maps and <span class=SpellE>BSC’s</span> <o:p></o:p></span></font></li>
</ul>

<p class=standardbody><font size=1 face=Verdana><span style='font-size:8.5pt'>Register
before </span></font><st1:date Month="1" Day="31" Year="2004">31 January 2004</st1:date>
and receive a free copy of Kaplan and Norton’s new book, “Strategy
Maps: Turning Intangible Assets into Tangible Outcomes.” Go to <br>
<br>
<a
href="http://www.bsceventportfolio.com/html/04-03-24_bsc_europ_human_capital_home.htm"><b><span
style='font-weight:bold'>www.bsceventportfolio.com/hcnl0304</span></b></a> <br>
or contact <a href="mailto:booking@leading-minds.com"><b><span
style='font-weight:bold'>booking@leading-minds.com</span></b></a> or call 377
97 <span class=SpellE>97</span> 39 46 to register. <o:p></o:p></p>

<p><font size=2 color=navy face=Arial><span style='font-size:10.0pt;font-family:
Arial;color:navy'>I can tell you Human Capital is a topic that’s very
important if we develop its tracking slowly (may take 5 years to openly find
any benchmarks that get near to real human contexts) – so from my biased side
I regard this pre-emptive conference strike as depressing BS news.<o:p></o:p></span></font></p>

<p><font size=2 color=navy face=Arial><span style='font-size:10.0pt;font-family:
Arial;color:navy'><o:p> </o:p></span></font></p>

<p><font size=2 color=navy face=Arial><span style='font-size:10.0pt;font-family:
Arial;color:navy'>Worse the book I am co-authoring has a very similar title to <span
class=SpellE>K&N’s</span> new opus but will undoubtedly seek to mean something
wholly different by maths of mapping human relationships. Chris Macrae, <a
href="mailto:wcbn007@easynet.co.uk">wcbn007@easynet.co.uk</a>, <a
href="http://www.valuetrue.com/">www.valuetrue.com</a> <o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Previously<o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Dear <span class=GramE>Lilly,</span> and
Open Spacers<o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>AS one mathematician to another, its not
often I disagree with you –and perhaps I am being pedantic-<span
style='mso-spacerun:yes'>  </span>but strictly speaking the originators of
Balanced Scorecard have confessed that its spirit was intended to show that the
quadrants of customer, learning and competitor could be translated back into
MBA measurements and business case numbers as usual – at least I remember
reading such a bookmark and if its really important to provide that evidence
I’d happily search for 2 hours or until I find it. At the end of the day
a balanced scorecard averages and <span class=SpellE>linearises</span> its
outputs in ways that look historically precise, which has nothing to do with
what will happen or be innovated next (even though any relationship system is
spinning growth or destruction depending how the people (relationships) in it
have been treated over time)<o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Mathematically you cannot sum where the
performance of a self-organising system is leading to (or any company where
people are the heroes) in numbers (however many professors try or say you can)
though you can provide maps to keep on iteratively editing for everyone to
participate in which is what you should be governing the future of your most
precious human links around<o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>I did try to make this point at the guest
lecture you invited me to give but I know <span class=GramE>its</span> not
something that <span class=SpellE>MBAs</span> who have just got in debt with
long courses on traditional management theory want to hear. <o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>I think what can do is say that the
balanced scorecard can be used to open another door of management thinking but
it certainly isn’t the measurement of that…and living systems like
the human body – so I am told – are only ever balanced the second
before they die (which may show that the professors didn’t really know
the territory they were naming)<o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'><o:p> </o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Sincerely<o:p></o:p></span></font></p>

<p class=MsoNormal><font size=2 color=navy face=Arial><span style='font-size:
10.0pt;font-family:Arial;color:navy'>Chris Macrae<o:p></o:p></span></font></p>

<p><font size=2 color=navy face=Arial><span style='font-size:10.0pt;font-family:
Arial;color:navy'><o:p> </o:p></span></font></p>

<p><font size=2 color=navy face=Arial><span style='font-size:10.0pt;font-family:
Arial;color:navy'><o:p> </o:p></span></font></p>

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