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Running head: ABC 1 ABC International, Inc. Week 3 HRM5000-Strategic Human Resource Management SU01 Tonia Randall November 20, 2023

ABC INTERNATIONAL INC 2 Purpose of Balance Scorecard A balanced scorecard is a management tool that uses standard financial indicators in conjunction with strategic non-financial performance measurements. "A set of performance goals and outcomes pertaining to four performance dimensions—financial, customer, internal process, and innovation—make up the Balanced Scorecard. 2015 This lists companies that have multiple stakeholders to answer to, including but not limited to employees, suppliers, consumers, the community, and shareholders. The balanced scorecard shows how well a company is performing in relation to its stakeholders and whether the goals are being met. Stakeholders' desires are frequently divergent. Employees, for instance, depend on a company for their jobs. It is the responsibility of a company to protect its investors' capital. The company must remain steady while vying for customers' needs. The purpose of a balanced scorecard is to assess the company's performance from the perspectives of competing stakeholders and their needs. The company will then create concepts that satisfy every perspective before gathering data for every one of them. Identify the following categories on the Balanced Scorecard: Traditional Categories, Communication Flow, the role of the HR professional and a column for the Strategic Plan/Action Plan, and any other relevant information to improve the performance level of the organization. A popular strategic planning and management tool in business and industry, government, and charitable organizations worldwide is the Balanced Scorecard. It is intended to enhance internal and external communications, monitor organizational performance in relation to strategic goals, and match business operations with the organization's vision and strategy.  Traditional Categories: The Balanced Scorecard traditionally includes four perspectives:

ABC INTERNATIONAL INC 3 o Financial: Measures reflecting financial performance, e.g., net profit, return on investment. o Customer: Measures reflecting customer satisfaction, retention, and acquisition. o Internal Process: Measures reflecting the performance of key processes, operations, and workflows. o Learning and Growth: Measures reflecting the organization's ability to innovate, improve, and learn. Communication Flow : A communication tool called the Balanced Scorecard uses the organization's goal and vision to tell a story about its strategy before putting them in terms of performance metrics. It shares information about the organization's goals with stakeholders and with employees both internally. Role of the HR Professional : HR specialists are essential to the Balanced Scorecard's implementation. Through the development of pertinent HR measures (such as employee happiness, turnover rates, and training efficacy) and their integration into the scorecard, they aid in the alignment of the organization's human capital with its strategic goals. They also help everyone in the company communicate and comprehend the scorecard. Strategic Plan/Action Plan : A strategic measurement and management system is built upon a complete set of performance measurements that are derived from the organization's mission and strategy through the use of the Balanced Scorecard. Specific activities and actions aimed at achieving the strategic objectives would be listed in the strategic plan/action plan column. Other Relevant Information : This could include any additional data, such as market trends, competitor analysis, regulatory changes, etc., that is pertinent to the performance and direction of

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ABC INTERNATIONAL INC 4 the firm. The Balanced Scorecard can be modified using this data to stay current with the ever- evolving corporate landscape. A dynamic tool, the Balanced Scorecard should be examined and modified on a regular basis to account for shifts in the business environment and organizational strategy. By considering both financial metrics and other important performance indicators, it offers a fair assessment of the organization's performance. Defended the importance of the Balance Scorecard and the correlation to align human capital with the goals of the decision makers. Income is the CEO brain's priority. A CEO must take strategic action when there is a cash flow issue at the organization. The CEO is preoccupied with the bank's finances when working capital is an issue. They contemplate it while in the shower, but at night their airbag detonates the bed. They review the accounts' financials every day. The CEO will be under pressure to turn the business profitable if it isn't already. The Balanced Scorecard is useful in this situation. Organizations utilize this strategic planning and management approach to better communicate internally and externally, assess organizational performance in relation to strategic goals, and match business operations with the organization's vision and strategy. One of the main components of the Balanced Scorecard is human capital. It speaks about the abilities, know-how, and expertise that a person or group possesses, evaluated according to the benefit or expense they provide to a nation or organization. Human capital is a vital resource for firms in a knowledge-based economy. Through their abilities, expertise, and skills, individuals add value.

ABC INTERNATIONAL INC 5 Another crucial component of the Balanced Scorecard is decision-making. It entails making decisions and acting to accomplish corporate objectives. The Balanced Scorecard has explicit goals, metrics, targets, and projects that offer a framework for making decisions. It aids in making sure that choices are in line with the organization's strategic objectives. For a company to succeed, decision-making, human capital, and the balanced scorecard are all interdependent. A framework for coordinating corporate operations with strategic goals is provided by the Balanced Scorecard, while the expertise and skills are provided by human capital. Designed a supplemental graphic of the Balanced Scorecard.

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