Design and implementation of a Human Capital oriented Balanced Scorecard in an engineering services unit

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Definition of Human Capital
  • What separates Human Capital from other assets
  • Human Capital - the un-word of the year 2004
  • The gap between book value and market value
• Human Capital Measurement
  • Human Capital Accounting
    • Weighted personnel cost method
    • Method of future remunerations
    • Flamholtz's Approach (Human Resource Accounting)
  • Deductive Summarizing Approaches
    • Market Value to Book Value
    • Tobin's q
    • Calculated Intangible Value
  • Inductive Analytical Approach
    • Intangible Assets Monitor
    • Intellectual Capital Navigator
    • Balanced Scorecard
      • Nomen est Omen
      • Perspectives of Balanced Scorecard
        • The Financial Perspective
        • The Customer Perspective
        • The Business Process Perspective
        • The Learning and Growth Perspective
      • Human-Resource-Scorecard
      • Human Capital Management Scorecard
  • Human Capital Key Figures
    • Economic Value Added and Human Economic Value Added
    • Human Capital Value Added and Human Capital Return On Investment
    • Human Asset Worth
      • Employment Cost
      • Individual Asset Multiplier
  • Profile of the Business Unit “Engineering Services”
  • Design and Implementation of a Balanced Scorcard
    • Defining the Vision
      • Procedure: A journey into the Future
      • Formulating the Vision for the Engineering Services Business Unit
    • SWOT-Analysis
      • Procedure
      • Strengths of the Business Unit
      • Weaknesses of the Business Unit
      • Opportunities Coming from the Business Unit Environment
      • Threats Coming from the Business Unit Environment
      • Supplementary Interviews
    • Strategy
    • Perspectives and Key Figures
      • Financial Perspective
      • Customer and Partner Perspective
      • Process Perspective
      • Human Capital Perspective
    • Implementing the Balanced Scorecard
      • General Conditions
      • Communication and Training
      • Software Support
  • Conclusion

  Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

  The dissertation aims to develop a management instrument for an engineering services unit based on the Balanced Scorecard approach. The work emphasizes the importance of human capital, which is often overlooked in traditional financial-driven approaches to business success. The dissertation explores how to measure and manage human capital's contribution to business success, as well as how to integrate human capital into the Balanced Scorecard framework.

  • The significance of human capital in the success of engineering services units.
  • Methods and challenges associated with measuring human capital.
  • The application of the Balanced Scorecard approach to incorporate human capital into management systems.
  • The development of a specific Balanced Scorecard for an engineering services unit.
  • The importance of implementing the Balanced Scorecard and integrating human capital considerations into strategic decision-making.

  Zusammenfassung der Kapitel (Chapter Summaries)

  • The introduction establishes the context for the dissertation, highlighting the traditional focus on financial performance and the growing importance of human capital in engineering services units.
  • The second chapter provides a thorough definition of human capital, differentiating it from other assets and exploring its increasing relevance in the modern business environment.
  • Chapter 3 focuses on various methods of human capital measurement, including accounting approaches, deductive summarizing approaches, and inductive analytical approaches. This chapter examines the strengths and limitations of each approach, with particular emphasis on the Balanced Scorecard.
  • Chapter 4 provides a profile of the specific engineering services unit that will be used as a case study for the development and implementation of the Balanced Scorecard.
  • Chapter 5 focuses on the design and implementation of the Balanced Scorecard for the engineering services unit. It includes steps such as defining the vision, conducting a SWOT analysis, developing strategies, and defining key figures for each perspective of the Balanced Scorecard.

  Schlüsselwörter (Keywords)

  The key focus areas of this dissertation include human capital, balanced scorecard, engineering services, intangible assets, management systems, strategic decision-making, performance measurement, and knowledge management.

  Frequently Asked Questions

  What is the main goal of this dissertation?

  The goal is to design and implement a management instrument based on the Balanced Scorecard approach specifically for an engineering services unit, with a focus on human capital.

  Why is human capital important for engineering services?

  Human capital (knowledge, experience, attitude) is the key differentiator for enterprises as it cannot be easily copied by competitors, unlike financial assets.

  How can human capital be measured?

  The work describes several methods, including weighted personnel costs, Flamholtz's approach, Market Value to Book Value, Tobin's q, and specific HCM scorecards.

  What are the traditional perspectives of a Balanced Scorecard?

  The traditional perspectives are Financial, Customer, Internal Business Processes, and Learning and Growth.

  What is the "Human Capital Perspective" in this specific scorecard?

  It is an integrated perspective that translates the business strategy into specific human capital goals and key figures to ensure sustainable success.

  What is the "un-word of the year 2004" mentioned in the text?

  The term "Human Capital" was criticized in Germany as the un-word of the year in 2004, which the dissertation discusses in terms of its economic definition versus social perception.