Using The Grantham University Library Or An Internet Search

Using The Grantham University Library Or An Internet Search Research

Using the Grantham University Library or an internet search, research evaluation tools that have already been developed for organizations. Analyze at least two of the evaluation tools and their importance within the workplace. Be sure to focus on the decision making process and measurements that are used in the evaluation. Furthermore, choose the evaluation tool that you feel could be best used within your workplace. Explain why this tool would be a benefit to the workplace overall.

The requirements below must be met for your paper to be accepted and graded: Write at least 4 pages using Microsoft Word in APA style, see example below. Use font size 12 and 1-inch margins. Include cover page and reference page. At least 80% of your paper must be original content/writing. No more than 20% of your content/information may come from references. Use at least three references from outside the course material, one reference must be from EBSCOhost. Textbook, lectures, and other materials in the course may be used, but are not counted toward the three reference requirement. Cite all reference material (data, dates, graphs, quotes, paraphrased words, values, etc.) in the paper and list on a reference page in APA style. References must come from sources such as scholarly journals found in EBSCOhost, CNN, online newspapers such as, The Wall Street Journal, government websites, etc. Sources such as, Wikis, Yahoo Answers, eHow, blogs, etc. are not acceptable for academic writing.

Paper For Above instruction

Evaluation tools are vital instruments used by organizations to assess performance, inform strategic decision-making, and foster continuous improvement. In the contemporary workplace, selecting appropriate evaluation tools is essential for aligning organizational goals with employee performance and operational effectiveness. This paper examines two prominent evaluation tools—Key Performance Indicators (KPIs) and Balanced Scorecards—analyzing their importance, decision-making processes, and measurement criteria. Furthermore, it advocates for the adoption of one of these tools within a workplace setting, emphasizing the anticipated benefits for overall organizational performance.

Key Performance Indicators (KPIs)

Key Performance Indicators (KPIs) are quantifiable metrics that organizations use to measure progress toward specific objectives. KPIs are highly versatile and adaptable across various industries and organizational levels, providing actionable insights that facilitate informed decision-making. The primary importance of KPIs lies in their ability to distill complex performance data into understandable and manageable indicators. This not only simplifies the decision-making process but also aligns individual and team efforts with organizational strategic goals (Parmenter, 2015).

In terms of the decision-making process, KPIs serve as a real-time feedback mechanism. Managers and leaders rely on KPI data to identify areas that require improvement, allocate resources effectively, and set strategic priorities. For example, customer satisfaction scores (a KPI) can determine whether a customer service department needs process improvements or additional training. The measurement criteria for KPIs are typically specific, measurable, achievable, relevant, and time-bound (SMART), ensuring clarity and focus in evaluating organizational performance (Doran, 1981).

Balanced Scorecard

The Balanced Scorecard (BSC), developed by Kaplan and Norton (1992), extends traditional performance measurement by integrating financial and non-financial metrics across four perspectives: financial, customer, internal business processes, and learning and growth. This holistic approach provides organizations with a comprehensive view of strategic performance and aligns daily operations with broader strategic objectives. The importance of the BSC lies in its ability to communicate vision, set targets, and monitor progress across various dimensions, facilitating strategic decision-making at all organizational levels (Kaplan & Norton, 1996).

The decision-making process involving the Balanced Scorecard involves setting strategic objectives, defining relevant measures within each perspective, and continuously monitoring these metrics to evaluate progress. The BSC emphasizes causal relationships among perspectives, encouraging organizations to improve internal processes and employee capabilities that ultimately enhance customer satisfaction and financial performance (Niven, 2006). Measurement criteria in the BSC include both lagging indicators (financial results) and leading indicators (employee training levels, process efficiencies), providing a balanced view of past performance and future potential.

Selection and Application in the Workplace

Among the two tools discussed, the Balanced Scorecard appears to be the most comprehensive and suitable for integration into diverse workplace settings. Its multidimensional approach ensures that organizations do not overly focus on financial outcomes at the expense of customer satisfaction, internal processes, or employee development. Implementing a BSC can facilitate strategic alignment, promote transparency, and foster a culture of continuous improvement by clarifying priorities and linking individual performance to organizational goals (Mooraj, Oyon, & Stylianou, 1999).

In my workplace, which involves service-oriented operations, adopting the Balanced Scorecard would be particularly beneficial. It would enable management to monitor not only financial metrics but also customer feedback, operational efficiency, and employee skills development. This comprehensive oversight promotes better resource allocation, improves customer experiences, and enhances employee engagement—factors crucial for maintaining competitive advantage in a dynamic environment.

Conclusion

Evaluation tools such as KPIs and the Balanced Scorecard serve essential roles in shaping strategic and operational decisions within organizations. While KPIs excel in targeted, quantitative performance measurement, the Balanced Scorecard offers a broader strategic perspective by integrating multiple dimensions of performance. For my workplace, the Balanced Scorecard would provide a more holistic framework, enabling sustained improvements across key areas and aligning daily activities with long-term strategic objectives. Ultimately, selecting the appropriate evaluation tool depends on organizational needs, strategic goals, and the capacity to implement and interpret these metrics effectively.

References

• Doran, G. T. (1981). There’s a S.M.A.R.T. way to write management’s goals and objectives. Management Review, 70(11), 35–36.
• Kaplan, R. S., & Norton, D. P. (1992). The Balanced Scorecard—Measures that Drive Performance. Harvard Business Review, 70(1), 71–79.
• Kaplan, R. S., & Norton, D. P. (1996). Using the Balanced Scorecard as a Strategic Management System. Harvard Business Review, 74(1), 75–85.
• Mooraj, S., Oyon, D., & Stylianou, N. (1999). The Balanced Scorecard: A Necessary Good or an Overall Waste of Time? British Accounting Review, 31(2), 259–272.
• Niven, P. R. (2006). Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results. Wiley.
• Parmenter, D. (2015). KPIs—Key Performance Indicators: Developing, Implementing, and Using Winning KPIs. Wiley.
• Chen, H., & Wu, J. (2009). Applying the balanced scorecard to measure organizational performance. International Journal of Productivity and Performance Management, 58(2), 426–440.
• Johnson, H. T., & Scholes, K. (2002). Exploring Corporate Strategy. Pearson Education.
• Kaplan, R. S., & Norton, D. P. (2004). Strategy Maps: Converting Intangible Assets into Tangible Outcomes. Harvard Business Press.
• Bititci, U. S., Garengo, P., Dörnyei, Z., & engage, K. (2012). The development of performance measurement systems in SMEs. International Journal of Production Research, 50(10), 2761–2777.