Human Resources Strategic Planning with Balanced Scorecard Element

This article discusses the strategic themes for BSC element, objectives, measures, targets, and initiatives for every element of BSC, and the rationale for initiative in Human Resources strategic planning.

TABLE OF CONTENTS
INTRODUCTION...............................................................................................................................................................3
MAIN BODY.....................................................................................................................................................................3
CONCLUSION...................................................................................................................................................................3
REFERENCES....................................................................................................................................................................4

MAIN BODY
Strategic themes for BSC element
Balanced scorecard element Strategic themes
Financial To improve the profitability of the company by 22 % till
end of 2021.
To optimally utilise all the cash and maintain a good
balance of cash within the business.
Customer To enhance the customer experience and satisfaction
by providing quality services to them.
To increase the number of consumers by 31 % to attain
high financial stability.
Internal process To develop high quality services so that consumers are
happy and satisfied with the services
To continuously work on improving the technology such
that the work is being efficiently done.
Organizational capacity To have a good and advance research and development
department so that all the latest changes can be
implemented within the company.
To create a good and coordinated culture within
Marriott so that employees work in proper manner and
efficiently.
Objective, measures, target and initiative for every element of BSC
Strategic theme Objectives Measures Targets Initiatives
Financial Increase sales ROE, ROCE and
others
22 % profit margin effective marketing
Optimal utilisation
of cash
Increasing cash
inflow
To have a positive
cash balance
Monitoring the cash

Customer Enhance consumer
experience
Increase in number
of repeated
consumer
10 % of consumer to
come regularly
loyalty program
Increase number of
customers
Try to attract new
and potential
consumer
Increase consumer
by 31 %.
some discount and
sales promotion
technique.
Internal high quality services Good quality raw
material
invest 10 % in
quality
implementing TQM
Improving
technology for
enhancing efficiency
To use the latest
technology
To invest 30 % in
technology
Continuous research
Organizational
capacity
Work on effective
market research
latest technology for
market research
Good knowledge of
market
research software
Development of
cordial culture
Organizing informal At least to have 2
gathering within a
month
organising small
trips
Rationale for initiative
The use BSC is very assistive to Marriott in order to manage the performance of the company (Balanced scorecard, 2021).
The reason underling this fact is that BSC involves all the key element which are to be managed for effectvie working of company.
Hence, this was the major reason underlying the use of BSC. The major initiative taken the company is the effectvie marketing of
product and services. This is pertaining to the fact that effectvie marketing will assist Marriott in attaining 2- 3 initiatives together.
This involves the initiative of increasing profitability, attracting new and existing consumer and others. In case Marriott will work
effectively on the marketing then this will result in increase in number of consumers and ultimately it will increase profitability of
company (Quesado, Aibar Guzmán and Lima Rodrigues, 2018).

REFERENCES
Books and Journals
Quesado, P. R., Aibar Guzmán, B., & Lima Rodrigues, L. (2018). Advantages and contributions in the balanced scorecard
implementation. Intangible capital. 14(1). 186-201.
Online
Balanced scorecard. 2021. [Online]. Available through: <https://searchcio.techtarget.com/definition/balanced-scorecard-
methodology >