For this assignment, you will write an essay in which you compare and contrast the following strategic measurement tools used by business and human resource professionals as presented in the Required
2/18/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=8e98bd3f-f231-43c8-9c1e-5e75b285b914& … 1/5 % 81 %5 %2 SafeAssign Originality Report CSU SafeAssign Plagiarism Check Tool •SafeAssign Originality Report Generator I % 88 Total Score : High risk Tawni Morgan Submission UUID : c409d7bf-e129-4fd5-bbc0-ab6fb82857e3 Total Number of Reports 1 Highest Match 88 % UNIT 1 HR MANAGEMENT.docx Average Match 88 % Submitted on 02/18/21 08:17 AM CST Average Word Count 847 Highest : UNIT 1 HR MANAGEMENT.docx % 88 Attachment  1 Institutional database  (2) Student paper Student paper Global database  (3) Student paper Student paper Student paper Internet  (1) jhumanities Top sources  (3) Excluded sources  (0) View Originality Report – Old Design Word Count : 847 UNIT 1 HR MANAGEMENT .docx 1 2 5 6 4 3 1 Student paper 5 Student paper 2 Student paper 2/18/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=8e98bd3f-f231-43c8-9c1e-5e75b285b914& … 2/5 Source Matches  (21) 1 2 THE HUMAN RESOURCE STRATEGIC TOOLS. Tawni Morgan Columbia Southern University HR Management 02/18/2021 THE HUMAN RESOURCE STRATEGIC TOOLS. Introduction. In the current organization, the human resource managers play various roles to contribute to the organization’s success like analysing the work done, recruiting skilled personnel and job description. In this paper I will analyse four strategic tools and their applica- tion in my job and their benefits and limitation. (Muhammad, K. (2018). 1. Economic value-added (EVA) It is used in determining the company’s financial perform- ance by subtracting the cost of capital from the operating profit. This is also called economic profit because it captures the company’s real economic profits. Additionally, the organization can understand the value it has generated from the invested fund. A good example is when EVA is negative, it means that the company has not generated any profit from the money invested. This tool is not used in companies with more intangible assets since it has not recorded book value. The bene- fit of EVA is that it assesses the organization’s productiveness and performance using the concept that a firm may be profitable wealth and returns are created for shareholders. The second benefit is that it has an essential performance indicator indicating how the company has acquired its wealth forcing menaced to under- stand available expenditures and assets before making decisions. The disadvantage of EVA is that it depends on the capital invested and it is best applied in large firms with more assets and more stability. The second limitation is that it is not applied in firms with intangible firms like technologically based companies. In my current working place, EVA is used to determine the investment performance and how much returns they generate. 2. Return on investment (ROI) This is the form of measurement tool that helps in making a comparison between different investments. ROI tool attempts to measure how a certain investment will return directly. In calculation, the benefit is divided by the investment cost and expresses the results as a percentage or ratio. In my previous organization, ROI was used for understanding financial efficiency by comparing the returns of the amounts invested. The advantage of ROI is that it is a good comparative measure where different units are compared by resource profitability and utilization. Secondly, is that it is easier to apply the calculations methods. It is accurate. Therefore, the method applies to both small business owners and analysts. The disadvantage is that the method may use the expected cash flows and costs in their calculations which does not factor in the return likelihood. 3. HR scorecard. This is the essential measures of the goals and productivity. Concepts evaluated include turnover, training, performance, hiring and costs. The HR scorecard is aligned to corporate goals and evaluates the efficacy of activities of human resources. It also includes periods on a yearly and quarterly basis. The advantage of the HR scorecard is that it indicates the company’s performance where managers understand employee’s performance. Secondly, it offers a visual image of how the organizational goals are met. Thirdly, it ensures goals are achieved based on the internal processes of the firm and employee’s knowledge and skills. The limitation is that it is time-consuming where it takes a lot of time to construct. Secondly, most employees are sceptical concern- ing their evaluations making them not support them. The last one is that data mining is needed for creating plans of actions and monitoring teams which is a tedious process. 4. Balanced scorecard (BSC) It is used in improving and identifying different internal functions of an organization and how it results in better external results. It is used as a measurement and provision of feedback to firms. One starts by collecting data that is qualitatively analysed to manage better decision making. The advantages of BSC are that it makes it easier to communicate across the teams and departments by streamlining the performance systems of measurements. Secondly, it links goals and objectives of various business levels leading to better alignments. The last one is that employees are connected to firms by making it more productive to identify their performance. The disadvantage is that the top management should expect BSC where it requires time to convince them to accept it. Secondly, the BSC program must be tailored to the firm’s systems where it can be copied from another company. The last one is that it has a lot of data to be recor- ded since teams and managers have to report information which may be huge. Conclusion. In conclusion, various strategic measurement tools are applied by various companies. These tools include economic value-added, return on investment, HR scorecard and balanced scorecard. Additionally, these tools must be aligned to the goals and objectives of the organization to be successful. (Alomari, Z. (2020). References. 1 1 1 1 1 1 1 1 1 1 1 1 2 1 Muhammad, K. (2018). The effects of electronic human resource management on financial institutes. Journal of Humanities Insights, 2(01), 1-5. Alomari, Z. (2020). Does human capital moderate the relationship between strategic thinking and strategic human resource management?. Management Science Letters, 10(3), 565-574. 3 4 5 6 2/18/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=8e98bd3f-f231-43c8-9c1e-5e75b285b914& … 3/5 Student paper 100 % Student paper 100 % Student paper 100 % Student paper 77 % Student paper 78 % Student paper 92 % 1 Student paper THE HUMAN RESOURCE STRATEGIC TOOLS. Original source THE HUMAN RESOURCE STRATEGIC TOOLS 1 Student paper Columbia Southern University Original source Columbia Southern University 1 Student paper THE HUMAN RESOURCE STRATEGIC TOOLS. Original source THE HUMAN RESOURCE STRATEGIC TOOLS 1 Student paper Economic value-added (EVA) It is used in determining the company’s financial per- formance by subtracting the cost of cap- ital from the operating profit. This is also called economic profit because it cap- tures the company’s real economic profits. Additionally, the organization can understand the value it has generated from the invested fund. A good example is when EVA is negative, it means that the company has not generated any profit from the money invested. Original source It is also called EVA, which is used in de- termining the financial performance of a company by subtracting costs of capital from the operating profit This tool is also called economic profit since it captures the real company’s economic profits Additionally, the firm can understand the value it has generated from the money invested For example, when the EVA is negative, the firm has not generated any profits from funds invested 1 Student paper This tool is not used in companies with more intangible assets since it has not recorded book value. The benefit of EVA is that it assesses the organization’s pro- ductiveness and performance using the concept that a firm may be profitable wealth and returns are created for shareholders. The second benefit is that it has an essential performance indicator indicating how the company has ac- quired its wealth forcing menaced to un- derstand available expenditures and as- sets before making decisions. The disad- vantage of EVA is that it depends on the capital invested and it is best applied in large firms with more assets and more stability. Original source This tool is not applicable in firms with more intangible assets since it has not recorded book value Advantages of EVA are that it assesses the firm’s perform- ance and productiveness using the concept that a business may be profit- able when returns and wealth are cre- ated for shareholders Secondly, it is an essential tool of performance indication showing how the company has created its wealth, forcing menaced to under- stand available assets and expenditures before making decisions The disadvant- age of EVA is that it relies on the capital invested and is best applicable in bigger companies (with more assets) that are more stable 1 Student paper In my current working place, EVA is used to determine the investment perform- ance and how much returns they generate. Original source In my current working place, EVA is used to determine the performance of invest- ments and how much returns they generate 2/18/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=8e98bd3f-f231-43c8-9c1e-5e75b285b914& … 4/5 Student paper 78 % Student paper 81 % Student paper 76 % Student paper 75 % Student paper 90 % Student paper 73 % 1 Student paper ROI tool attempts to measure how a cer- tain investment will return directly. In calculation, the benefit is divided by the investment cost and expresses the res- ults as a percentage or ratio. In my previ- ous organization, ROI was used for un- derstanding financial efficiency by com- paring the returns of the amounts invested. The advantage of ROI is that it is a good comparative measure where different units are compared by resource profitability and utilization. Original source The return on investment tool attempts to measure directly how a specific invest- ment will return To calculate the benefit is divided by the investment cost and then express the result as a ratio or per- centage In my previous organization, ROI was used for understanding financial effi- ciency through comparing the returns with amounts invested The advantage of ROI is a good comparative measure where different units of the firm are compared based on resource utilization and profitability, secondly, is that the cal- culation method is easier to apply and more accurate 1 Student paper Therefore, the method applies to both small business owners and analysts. The disadvantage is that the method may use the expected cash flows and costs in their calculations which does not factor in the return likelihood. Original source Thus the method is applied by both ana- lysts and small business owners The dis- advantage is that the method may use expected costs and cash flows in their calculations, which doesn’t factor in the return likelihood 1 Student paper Concepts evaluated include turnover, training, performance, hiring and costs. The HR scorecard is aligned to corporate goals and evaluates the efficacy of activit- ies of human resources. It also includes periods on a yearly and quarterly basis. Original source training, turnover, costs, performance and hiring The HR scorecard has to be aligned to corporate goals and evaluates the efficacy of human resource activities It also includes periods, including yearly or quarterly bases 1 Student paper Secondly, it offers a visual image of how the organizational goals are met. Thirdly, it ensures goals are achieved based on the internal processes of the firm and employee’s knowledge and skills. The limitation is that it is time-consuming where it takes a lot of time to construct. Secondly, most employees are sceptical concerning their evaluations making them not support them. Original source Secondly, it provides a visual image of how the organizational goals are met Thirdly is ensuring goals pre-determined are achievable based on internal pro- cesses of business, employee’s skills and knowledge it is time-consuming and takes time to construct Secondly, em- ployees may be skeptical concerning their evaluations, making them not sup- port it 1 Student paper The last one is that data mining is needed for creating plans of actions and monitoring teams which is a tedious process. Original source The third is data mining is needed for monitoring the teams and creating plans of actions, which is a tedious process 1 Student paper Balanced scorecard (BSC) It is used in im- proving and identifying different internal functions of an organization and how it results in better external results. It is used as a measurement and provision of feedback to firms. One starts by collect- ing data that is qualitatively analysed to manage better decision making. The ad- vantages of BSC are that it makes it easier to communicate across the teams and departments by streamlining the performance systems of measurements. Original source It is also known as BSC, used in the iden- tification and improvement of different internal functions of a firm and how it results in better external results It is used as a measurement and provision of feed- back to companies One begins by collect- ing data, which is analyzed qualitatively to manage for better decision making it makes easier communication across the department and teams by streamlining the performance measurement systems 2/18/2021 Originality Report https://online.columbiasouthern.edu/webapps/mdb-sa-BB5f85d6ea5857f/originalityReport/ultra?attemptId=8e98bd3f-f231-43c8-9c1e-5e75b285b914& … 5/5 Student paper 65 % Student paper 78 % Student paper 69 % Student paper 100 % Student paper 81 % jhumanities 100 % Student paper 100 % Student paper 100 % Student paper 100 % 1 Student paper Secondly, it links goals and objectives of various business levels leading to better alignments. Original source Secondly, it leads to better alignments by linking goals and objectives of different firm levels 1 Student paper The disadvantage is that the top manage- ment should expect BSC where it re- quires time to convince them to accept it. Secondly, the BSC program must be tailored to the firm’s systems where it can be copied from another company. The last one is that it has a lot of data to be recorded since teams and managers have to report information which may be huge. Original source Secondly is the top management should accept BSC where it requires time to con- vince them to accept it The disadvant- ages are that one BSC program has to be tailored to the systems of the organiza- tion where it can’t be copied from an- other firm The third is that a lot of data and information has to be recorded since managers and teams have to report information, which may be huge 1 Student paper In conclusion, various strategic measure- ment tools are applied by various companies. Original source In conclusion, these are some of the stra- tegic measurement tools that are applied in various firms 2 Student paper These tools include economic value- added, return on investment, HR score- card and balanced scorecard. Original source These tools include economic value added, return on investment, balanced scorecard, and HR scorecard 1 Student paper Additionally, these tools must be aligned to the goals and objectives of the organ- ization to be successful. Original source Additionally, they have to be aligned to the objectives and goals of the organiza- tion to be successful 3 Student paper The effects of electronic human resource management on financial institutes. Original source The Effects of Electronic Human Re- source Management on Financial Institutes 4 Student paper Journal of Humanities Insights, 2(01), 1-5. Original source Journal of Humanities Insights, 2(01), 1-5 5 Student paper Does human capital moderate the rela- tionship between strategic thinking and strategic human resource management?. Original source Does human capital moderate the rela- tionship between strategic thinking and strategic human resource management 6 Student paper Management Science Letters, 10(3), 565- 574. Original source Management Science Letters, 10(3), 565– 574