STAGE 2 - Balanced Scorecard for Skills

REVIEW, REFLECTION AND APPLICATION

Exercise 1

After reviewing the background information presented in this Stage, and checking out the Balanced Scorecard material available in the Resources section, take a few minutes to provide responses to the following statements. Remember to reflect upon your own knowledge and experience when thinking about your responses.

1. Understanding the Balanced Scorecard is about measuring all outcomes with hard financial data. True False 2. It is the role of the Human Resources Department to concentrate on the Learning and Innovation metrics of the Balanced Scorecard….the other metrics (Financial, Customer and Internal Processes) are someone else's responsibility. True False 3. Understanding the Balanced Scorecard can be applied to measuring the effectiveness of workplace education programs even if there is not a formal Balanced Scorecard policy in an organization. True False 4. Understanding the Balanced Scorecard can only work for large organizations. True False 5. Measurement and evaluation can be taken too far. True False 6. The Human Resources Department can "go it alone" in instituting a Balanced Scorecard system of evaluating the effectiveness of workplace education programs. True False 7. There must be alignment between reward structures and the objectives outlined in a Balanced Scorecard. True False 8. Balanced Scorecard objectives should be set at a very high level…our grasp should exceed our reach…. we need to push ourselves. True False 9. You should select only a few key metrics for a Balanced Scorecard to be effective. True False 10. It takes highly specialized skills to establish a Balanced Scorecard system for your organization. True False 11. It is easy to establish a Balanced Scorecard system. True False