A Critical Analysis of the Balanced Scorecard - with Special Consideration to Its Implications for HRM and HR-policy
GRIN Verlag, 2008 - 88 pages
Master's Thesis from the year 2007 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, London School of Economics and Political Science, 25 entries in the bibliography, language: English, abstract: The Balanced Scorecard is designed and implemented as a strategic management and measurement system. It uses a broad range of innovative indicators and enfolds the overall strategy. Especially, it has extensive implications on human resource processes and its strategic orientation within a company. The development and implementation of a complete BSC is associated with the parallel adoption of a high-performance-work-system and a long-term orientated HR-strategy. With support of the BSC, human resource management becomes a partner with business, which manages its employees as adding value assets and includes HRM in business strategy. HRM gains in importance and makes an essential contribution to the business-wide human resource and organisation development. Empirical results show that it is possible to successfully implement the BSC and the involved long-term orientated HR-strategy in both already long-term and stakeholder orientated enterprises and previously short-term and shareholder orientated companies. Different researchers verified that the implementation of a BSC by simultaneous use of a HPWS is associated with an essential improvement of business performance and development as well as better financial results and higher profitability.
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agreements on objectives alignment analysed Balanced Scorecard BECKER BISCHOF/SPECKBACHER BSC concept BSC implementation BSC offers BSC's business performance business strategy business units climate for action communication companies asked company's compensation system competitive consequent application corporate governance customer satisfaction DEBUSK/CRABTREE employee satisfaction enterprise levels Especially essential contribution extent factors for success figures financial measures firm-specific human capital Furthermore Harvard Business School High-Performance-Work-Systems HORVATH&PARTNER HR-aspects HR-department HR-practices HR-processes HR-scorecards HRM and HR-policy HRM's human capital Human Resource Management implementation process implications for HRM improvement individual objectives individual targets influence innovative intangible assets KAPLAN/NORTON 1996b KONIG/REHLING 2002 KUNZ learning-and-growth perspective long-term orientated HR-strategy Michael Hoffmann models of corporate necessary Number organisation's organisations performance measurement Personalmanagement possible profitability realise SCHWERTNER shareholder SPECKBACHER/BISCHOF Staff competencies stakeholder stakeholder-orientated companies strategic objectives strategy map target setting target values TONNESEN Top-BSC top-management transparency underlines variable compensation verified vision and strategy VITOLS