BUSINESS ADMINISTRATION
INDUSTRIAL RELATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The only requirement is the HR Scorecard; anything else is a bonus
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A full scorecard update; HR, Safety, Quality and Finance
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No data; it is a meeting to discuss topical issues
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Detailed explanation-1: -The scorecard lists financials goals, customer goals, internal business goals, and innovation & learning goals. These four goals give a good overview of what the company tries to achieve, i.e. the company strategy.
Detailed explanation-2: -In addition to alignment with company goals, the HR scorecard must also contain the following elements to truly be effective: accountability, validity and actionable, measurable results.
Detailed explanation-3: -The balanced scorecard forces managers to look at the business from four important perspectives. It links performance measures by requiring firms to address four basic questions: How do customers see us?-Customer perspective. What must we excel at?-Internal perspective.
Detailed explanation-4: -Balance Scorecard is a tool to provide the stakeholders/Management a measure on how the organisation is progressing to acheive its goals. In a similar fashion, the HR Scorecard help you measure, monitor and report HR KPI’s and help HR identify how they contribute in achieving Organisation’s goals.