Balanced Scorecard

2020 ◽  
pp. 185-194
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Human Resources ◽  
Balanced Scorecard ◽  
Financial Marketing ◽  
The Balanced Scorecard ◽  
Underlying Theory ◽  
Holistic Perspective ◽  
Marketing Operations ◽  
Core Idea ◽  
Monitoring Performance ◽  
Implement Strategy

The purpose of the balanced scorecard is to provide a holistic perspective to setting firm goals and monitoring performance. The balanced scorecard provides a financial, marketing, operations, and human resources perspective of a firm’s performance. When used to implement strategy, the balanced scorecard approach prompts managers to think about what needs to happen in different elements of the business for the strategy to take hold. It encourages managers to think about how the strategy will impact the customer, operational, and people processes to ultimately affect financial results. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of the balanced scorecard. The chapter also continues the illustration of the Chocolate Moose and applies the steps of the balanced scorecard to this case.

Human Resources in the Balanced Scorecard System

2011 ◽  
pp. 611-618
Author(s):  
Juha Kettunen
Keyword(s):  
Human Resources ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Development Project ◽  
Management Tools ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Future Situation ◽  
Organizational Levels ◽  
Administrative Units

Strategic planning is a matter of mapping the route between the perceived present circumstances and the desired future situation. Strategic management adapts higher education institutions (HEI) to their environment including educational policy, local demand for skilled labor, and other factors. The purpose of HEIs is to positively affect the development of society and the local community. The balanced scorecard approach developed by Kaplan and Norton (2001, 2004, 2006) is a framework for the communication and implementation of the strategy. The approach creates a shared understanding of the strategic plan by describing the plan using strategy maps, strategic objectives, measures and target values for the planning period (Niven, 2005). The balanced scorecard approach can be combined with other approaches and management tools. The purpose of this article is to report on a development project where the balanced scorecard approach was applied in the management information system MIS) of an HEI. The MIS integrates the different approaches of management into human resources (HR) planning. It is important that the balanced scorecard approach is supported by the MIS. This is especially critical in large organizations. Many administrative units and organizational levels emphasize the importance of automation enabling management to consistently aggregate the scorecards of lower organizational levels to the overall scorecard. The MIS with a portal is a valuable communication channel, information processor, management tool and the joint memory of the organization. The empirical part of the article describes the MIS of the Turku University of Applied Sciences (TUAS), where the MIS is based on strategic management and the balanced scorecard approach. The system integrates budgeting, action plans, HR planning and quality management. The data warehouse approach is used to capture data from the diverse source systems and to store the data in an integrated database. An MIS portal was developed to support the management process and be open to the personnel of the institution. The portal supports the dialogue and commitment of the personnel to the strategic outlines. The portal is open to management and the personnel of the institution.

Using the Balanced Scorecard to Measure the Performance of Your HR Information System

2002 ◽  
Vol 31 (4) ◽  
pp. 543-557 ◽  
Author(s):  
Wesley O. Hagood ◽  
Lee Friedman
Keyword(s):  
Information System ◽  
Human Resources ◽  
Performance Measurement ◽  
Measurement System ◽  
Balanced Scorecard ◽  
Value Added ◽  
Program Director ◽  
Performance Measurement System ◽  
The Balanced Scorecard ◽  
Human Resources Information System

One of the most significant challenges faced by public personnel executives today is measuring the performance of their human resources information system (HRIS) in order to justify the value-added contribution of the HRIS to accomplishing the organization's mission. Over the last year, the CIA developed and implemented a balanced scorecard-based performance measurement system for its HRIS to justify cost and highlight the effectiveness of the system. The HRIS Program Director, Patricia Minard, used the Kaplan-Norton balanced scorecard framework to identify and align the organization's goals, objectives, and measures; to gather baseline data to measure against established measurement targets; and to measure and demonstrate the value-added contribution of the HRIS.

Use and abuse of the balanced scorecard

2016 ◽  
Vol 32 (7) ◽  
pp. 17-19
Keyword(s):  
Human Resources ◽  
Case Studies ◽  
Balanced Scorecard ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Content Type ◽  
The Balanced Scorecard ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Why do firms measure performance? This seems, at first, a rather trite, facile question – “to assess how much money they can make, of course!” – however, the simplicity of the question masks a much more complex suite of answers. First, are measures used for internal or external purposes? Second, if they are internal, is it about efficiency, growth or scale of outputs? Third, if it is about scale, what areas are being judged for scale – human resources (HR) or profits, for example? Research limitations/implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals Correlation of Recruitment and Selection of Human Resources and the Performance of Small and Medium Enterprises

2019 ◽  
Vol 65 (4) ◽  
pp. 14-26 ◽  
Author(s):  
Iva Klepić
Keyword(s):  
Data Analysis ◽  
Human Resources ◽  
Balanced Scorecard ◽  
Small And Medium Enterprises ◽  
Pearson Correlation ◽  
The Balanced Scorecard ◽  
Top Managers ◽  
Recruitment And Selection ◽  
Medium Enterprises ◽  
Selection Of

AbstractHuman resources are the most significant resource of a company; this is especially true for small and medium enterprises (SMEs) in which they create the company’s competitive advantage because of their uniqueness. Human resources manage other resources and are responsible for the efficiency and success of the organization. The main goal of this research is to determine whether and to what extent the recruitment and selection of human resources are in correlation with the performance of SMEs. The research was conducted in SMEs in the Herzegovina Region in the Federation of Bosnia and Herzegovina in April 2019. An original questionnaire was created for the survey, within which top managers views on recruitment and selection of human resources were collected as well as the four-perspective performance of the business based on the Balanced Scorecard model. SPSS 20.0 was used for data analysis. Descriptive measurements used for data analysis include mean, standard deviation, and mode. The Kolmogorov-Smirnov test was used to test distribution normality. To test the correlation of variables and to determine the significance of differences, the Pearson correlation coefficient and t-test for independent samples were used. The level of significance was set to p = 0.05. The research results showed the correlation between the studied variables and the correlation of recruitment and selection of human resources and the performance of SMEs viewed from all four perspectives. A limitation of the research is the sample size and the sampling method. The results can be applied in the human resource management of SMEs.

Human Resources in the Balanced Scorecard System

2009 ◽  
pp. 464-470
Author(s):  
Juha Kettunen
Keyword(s):  
Human Resources ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Development Project ◽  
Management Tools ◽  
Strategic Objectives ◽  
The Balanced Scorecard ◽  
Future Situation ◽  
Organizational Levels ◽  
Administrative Units

Strategic planning is a matter of mapping the route between the perceived present circumstances and the desired future situation. Strategic management adapts higher education institutions (HEI) to their environment including educational policy, local demand for skilled labor, and other factors. The purpose of HEIs is to positively affect the development of society and the local community. The balanced scorecard approach developed by Kaplan and Norton (2001, 2004, 2006) is a framework for the communication and implementation of the strategy. The approach creates a shared understanding of the strategic plan by describing the plan using strategy maps, strategic objectives, measures and target values for the planning period (Niven, 2005). The balanced scorecard approach can be combined with other approaches and management tools. The purpose of this article is to report on a development project where the balanced scorecard approach was applied in the management information system MIS) of an HEI. The MIS integrates the different approaches of management into human resources (HR) planning. It is important that the balanced scorecard approach is supported by the MIS. This is especially critical in large organizations. Many administrative units and organizational levels emphasize the importance of automation enabling management to consistently aggregate the scorecards of lower organizational levels to the overall scorecard. The MIS with a portal is a valuable communication channel, information processor, management tool and the joint memory of the organization. The empirical part of the article describes the MIS of the Turku University of Applied Sciences (TUAS), where the MIS is based on strategic management and the balanced scorecard approach. The system integrates budgeting, action plans, HR planning and quality management. The data warehouse approach is used to capture data from the diverse source systems and to store the data in an integrated database. An MIS portal was developed to support the management process and be open to the personnel of the institution. The portal supports the dialogue and commitment of the personnel to the strategic outlines. The portal is open to management and the personnel of the institution.

scholarly journals BALANCED SCORECARD METHOD IN PERFORMANCE AUDIT OF BUDGETARY USERS

2020 ◽  
Vol 6 (2) ◽  
pp. 27-38
Author(s):  
Verica Budimir ◽  
Keyword(s):  
Public Sector ◽  
Strategic Planning ◽  
Literature Review ◽  
Performance Measurement ◽  
Balanced Scorecard ◽  
The Balanced Scorecard ◽  
Development Level ◽  
Performance Audit ◽  
Monitoring Performance ◽  
Budget System

The paper aims to explore how the Balanced Scorecard method can improve budgetary users' performance audit in Croatia. Literature review on performance measurement in the Croatian public sector gives an overview of the development level in strategic planning, control, and monitoring performance. The paper gives some suggestions for improving Croatia's budget system based on the identified disadvantages and weaknesses in measuring and monitoring performance.

Balanced Scorecard in the strategic planning of a construction company

2018 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Roberth Frias ◽  
Maria Medina
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Organization Theory ◽  
Management Control ◽  
Management Tool ◽  
The Balanced Scorecard ◽  
Construction Company ◽  
Construction Companies ◽  
The Impact

This research focused on the strategic management tool Balanced Scorecard and strategic planning, as a guide to guide the management of companies, allowing communication and the functionality of the strategy using KPIs that allow to identify, maintain control and increase efficiency and the achievement of optimal results. For the deductive hypothetical analysis, the specific factors that affect business management performance were grouped into two variables: Balanced Scorecard and Strategic Planning. The objective of the work was to demonstrate the impact of the Balanced Scorecard in the strategic planning of a construction company. In order to support the research, the following theories were approached: the Financial Theory, the Economic Theory of the Company, the Transaction Costs, the Network Theory, the Organization Theory, the Dependence on Resources, the Strategic Management Theory and the Business Diagnosis Theory. The result obtained confirms the hypothesis that there is a significant incidence of the Balanced Scorecard in the strategic planning of construction companies. In conclusion, the construction company has obtained significant improvements in the results in each of the indicators evaluated with the implementation of the Balanced Scorecard, demonstrating improvements in their management results, affirming that there is better performance and management control allowing them to achieve the organizational objectives set.

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