Essay Sample on Use of Balanced Scorecard to Discuss Organization Goals

Introduction

A Balanced Scorecard is a valid approach to discussing organization goals. Balanced Scorecard is a framework of a business that is used for managing and tracking the strategy and goals of an organization (Kaplan & Norton, 71). Consequently, The Balanced Scorecard is used for balancing between lagging and leading indicators, which are used to drive and get a better outcome of the organization's goals.

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The key indicators in the BSC are telling if the organization is achieving the goal or not on the right track to achieve goals in the future (Kaplan & Norton, 75). By discussing the organization's goals by use of The Balanced Scorecard, the organization is capable of describing its strategy, measure the strategy of achieving the goals, and tracking the actions to be taken to improve the company's results.

Also, the BSC is essential in an organization approaching their goals because the organization will have an objective, how to measure the goal, initiatives put in place to achieve the goals and items of action which helps in delegating jobs to make the set initiatives. Therefore, with the use of The Balanced Scorecard, the organization will focus on initiatives and improve measures put in place to achieve set goals.

Role of HR In Balanced Scorecard Approach

The Balanced Scorecard as a management strategy is used in separating goals of the organization into quantifiable metrics that are used in human resources to handle the metrics and the activities of allocating resources and workforce (Kaplan & Norton, 165). There are four quadrants used in the BSC approach representing each of the strategies of approach. The following are roles of HR in each of the four processes used in the balanced scorecard approach.

The Financial Perspective

This acts as the foundation of the approach of The Balanced Scorecard. In this perspective, the HR manager should ask himself or herself how organization performance is looking to the stakeholders (Kaplan & Norton, 170). The BSC is supposed to be focusing on how the organization is performing because it is essential for the prolonged survival of the organization. If the staffs are not motivated and not dedicated, it is not possible to achieve the organization's success in finance. Therefore, financial data collected should be accurate and relate to human resources for the organization to achieve the goals.

The Customers Perspective

This quadrant considers how human resource policies have effects on consumers. The HR manager should ask himself or herself how the staff in the organization is looking at the customers. Organization's customers always value communicative and friendly business; therefore, having a positive team is essential for financial success and achieving the goals of the organization (Kaplan & Norton, 168). If customers are satisfied, they will come back, and with that, it will be of significant impact on HR.

The Business Process Perspective

In this process, the organization should be able to answer the following two questions: "Is the organization internal operation effective?" and "Which areas must the organization focus to get profit?" From a business process perspective, the human resource manager measures staff performance against established goals of the business. Also, the metrics measured by HR include duration taken to reply to inquire of customers, goods and services quality, and manage inventory.

The Learning and Growth Perspective

Several organizations consider this quadrant to be necessary. HR uses this quadrant to improve the organization's performance. It helps the organization to focus on current things trending and avoid focusing on past performance (Kaplan & Norton, 170). Generally, the learning and growth perspective is focusing on developing an organization's employees.

Balanced Scorecard as a Metric in Organization

The Balanced Scorecard is a useful metric for the organization. It is used in identification and improving internal functions of business, which is resulting in better outcomes that are external (Kaplan & Norton, 172). The Balanced Scorecards are used in measuring the organization and giving feedback. Collected data are essential in giving results that are quantitative, giving the managers easy work to get and make an interpretation of the information obtained to make the right decisions in the organization.

Work Cited

Kaplan, Robert S., and David P. Norton. "Using the balanced scorecard as a strategic management system." (1996).: 167-190

Kaplan, Robert S., and David P. Norton. "The balanced scorecard: measures that drive performance." Harvard business review 83.7 (2005)