Ashesh,
You have put up the subject of whether KRA/BSC is as effective as claimed to be?
I can give you my experience with the KRA system.
KARA was introduced into our organisation in 1998. First it was put only for Managers and above and subsequent year for all others also. Initially as you stated everybody took it as boring, designed to only curtail fiscal incentives (especially for sales guys). We had an external faculty come in and do four explanation and training sessions of 5 days each for managers first. The faculty made the dry subject palatable. Unfortunately now i do not have his presentations since most of them were done with transparencies. As the first year got over, the managers themselves realised the use of the system and started training for the rest of the employees. Over a period of 2 - 3 years, it was introduced for everybody.
Now the 'down' side of it::: People became so much KRA driven that everything else got lost in it. For example, sales was purely "number driven" and the quality of orders, customer relationship etc were given a go by. It took quite a while to realise this since everybody including the bosses were happy with the company "number" performance going up drastically.
6 years down, a correction process has been set in and BSC has been introduced in the current year. We are yet to see significant changes.
Training, training and training is the best way to introduce these systems into any organisation. All the more better by an external faculty.
Thanks
Bala