Importance of Metric in a Business Organization

This week, we studied and discussed metrics relevant to the whole organization. For this assignment, you will demonstrate your  understanding of these metrics by writing a short paper (about 2000  words) that addresses the following questions:

Importance of Metric in a Business Organization 1

  1. What can each metric demonstrate? What is its importance to HRM and strategic decision-making?
  2. What would be learned from statistics derived from this metric?
  3. Where might one find (or collect) the raw data for this metric? How would you implement tracking this metric in an organizational dashboard/balanced scorecard?
  4. What, if any, potential difficulties might create challenges in tracking this metric?
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