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The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.

Most of us know that success in today’s work world requires continuous growth and learning. You can’t just rely on your current knowledge and expertise if you expect to keep up, let alone advance. But how do you identify the areas in which development efforts will yield the best return on your investment?

Despite great recognition for human resources (HR) as a source of value addition within firms, HR innovation remains poorly understood. Below, Upamali Amarakoon, Jay Weerawardena and Martie-Louise Verreynne explore how firms can gain competitive advantage through HR innovation.

At Facebook, employees know that they don't need to become managers in order to be successful. "The most important thing is that we choose managers who want to be managers," Lori Goler, Facebook's VP of people, told Business Insider. Facebook is a strength-based organization, she said, and that means that leadership finds what employees excel at and place them in those roles. In order to determine what makes a manager excel at Facebook, a few years ago Goler and her team conducted a company-wide analysis of its roughly 10,000 employees to find which teams reported the highest levels of satisfaction and engagement.

Despite the huge impact executives can have on their organizations, failure rates remain high. Prescriptions for what to do continue to fall short. So we wondered: If we closely studied the executives who succeed in top jobs once appointed, could we identify distinguishing features that set them apart and defined their success?