For this assignment, you will demonstrate your understanding on the fourth facet of the P-O-L-C Framework-Controlling. Utilize what you have learned this week to develop a strong argument of how "Controlling" fits in the P-O-L-C framework as it pertains to your "challenge". You learned about the essential components of the Balanced Scorecard and saw how, when correctly conceived and implemented, it integrates an organization's vision, mission, and strategy with its nonfinancial and financial controls. As with correctly implemented nonfinancial controls, the components of the Balanced Scorecard need to be clearly tied to the strategy, and relationships among nonfinancial and financial controls validated. Appropriate control performance targets need to be set, and the appropriate indicators of performance need to be used to gauge nonfinancial and financial performance.

Directions

There are two parts to this assignment:

Create a Balanced Scorecard based on your "challenge",

Create a business-balanced scorecard to illustrate how it ties to the strategy that you establish to address your 21st-century manager's "challenge." See examples in Chapter 15.

Answer the questions below (using APA format). For this assignment you will need to find at least 3-4 research articles to support your position for your 2-5-page APA formatted paper:

What is a Balanced Scorecard?

What is the difference between a Balanced Scorecard and a simple list of nonfinancial and financial controls?

What roles do vision, mission, and strategy play in the development of a Balanced Scorecard?

What might be some of the differences between an organization's Balanced Scorecard and your personal Balanced Scorecard?

What might be some of the similarities?

Under what circumstances should an organization's or an individual's Balanced Scorecard be revised?

Why is it important to align HR metrics with company strategy?

What kind of metrics would be most useful for HR to track to address your selected "challenge?"