A Balanced Scorecard for Open Innovation: Measuring the Impact of Industry-University Collaboration

The Balanced Scorecard (BSC) can be considered as a strategic measurement tool. Since its first publication by Norton and Kaplan in the early 1990’s, many companies have applied it to measure four key aspects of their organisations’ performance: Financial, Customer, Internal Business Process, Learning and Growth. Although it is widely used in the business arena, this original BSC was not developed to assess the impact of collaborative research projects under an open innovation strategy, where the outputs of research and development (R&D) developed by collaborative projects undertaken by industry and universities should be measured in a different way. In fact, many companies are losing important opportunities to spur their R&D results by not being able to quantify the results of such collaborations. Therefore, this paper will propose a Scorecard to measure the outcomes of collaborative research. It is important to recall that this scorecard has been developed during a collaborative research project by CEMEX Research Group AG (Switzerland) and Cranfield University (UK). During such project, a survey was developed to carry out eleven face-to-face interviews in a sample of ten companies in UK, which provided important inputs to design such strategic scorecard. It was confirmed that a collaborative balanced scorecard is a very useful tool to measure, track and improve the impact of conducting collaborative projects with universities.