This is the one hundredth anniversary of the amazing year when Albert Einstein, then only a 26-year-old patent clerk in Austria, published four profound research papers. In one paper he arrived at his famous E = MC2 equation; and for another on his explanation of the photoelectric effect, he was subsequently awarded the Nobel Prize in physics. Despite these early successes, Einstein spent the rest of his life working but ultimately failing to solve what physicists refer to as the Grand Unified Theory which reconciles the four fundamental physical forces of nature: gravity, electro-magnetism, the strong nuclear force that holds nucleons together in the atomic nucleus and the weak nuclear force commonly seen in beta decay and the associated radioactivity.
Likewise, performance management in commercial organizations has its own huge intellectual challenge - to reconcile customer value improvement with shareholder value creation. (Performance management in public sector organizations presents different challenges which I will address in a future column).
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