¶ … balanced scorecard approach is quite pervasively used by organizations of all stripes when it comes to their strategic decision making and their long-term plans. It is especially associated with for-profit businesses in terms of what they will focus on, what they will not focus on, what resources/people will be allocated to the initiatives that are chosen and so forth. While the balanced scorecard and for-profit businesses are quite commonly talked about in the same sentences, a lot of (but not all) the priorities and such associated with the practice can be used just as effectively with non-profit businesses. The focus of this report will be a non-profit agency known as the Cattaraugus County Rehabilitation Center (CCRC). While some of the results of balanced scorecard use by the CCRC were mixed, they did a good job overall when it comes to the use of the tool.
Analysis
The article explains that there are commonly four phases of planning when it comes to the balance scorecard. Those four phases are basic financial planning, forecast-based planning, externally oriented planning and strategic management. All four of those phases can easily be applied to non-profits like the CCRC. Further, the fact that he agency is extremely multi-faceted and complex in nature means that strategic planning would be all the more necessary prudent. The use of the balanced scorecard is not new for CCRC. Indeed, Martello and his colleagues note in their report that the balance scorecard has been in use for a number of years already. A number of consultants have been brought in over the years as there has indeed been a nagging issue....
Balance Scorecard Applications in Healthcare Organizations Balanced Scorecard The Learning & Growth Perspective The Business Process Perspective The Financial Perspective Strategy Mapping General Perspective of Performance Management Performance Planning Ongoing Performance Feedback Employee Input Performance Evaluation & Review Performance Management in Healthcare Organizations Healthcare Organization as Learning Organization Principles of Performance Management in Healthcare Organizations Performance Measurement & Evaluation Methods Used In Healthcare Organizations Setting Up Performance Management Systems Dimensions and Approaches to Performance Management in Health Care Taken From the British National Health Service Induction Programs Performance Monitoring Personal
Balanced scorecard seeks to provide a sense of strategic balance to an organization by focusing on four distinct perspectives, rather than having the organization orient itself strictly to maximizing shareholder wealth (Kaplan & Norton, 1996). The underlying logic of the balanced scorecard is that there are certain congruencies between the different perspectives. By understanding these perspectives, the firm is in a position where it can optimize its performance by maximizing
Balanced Scorecard: Customer Perspective The balanced scorecard (BSC) developed by Robert Kaplan and David Norton is "one of the most highly touted management tools today" (Gumbus, A. & Lussier, R. 2006), and is used extensively by Fortune 1000 companies to "set strategy and align operations to achieve breakthrough results" (Gumbus, A. & Lussier, R. 2006). Is the balanced scorecard a tool only for the multinational or conglomerate firm? Increasingly no, as
This particular perspective is used in the accurate identification of infrastructure that a given company must acquire so as to compete in the future dynamic and highly competitive global market place. The Balanced Scorecard has not just been praised for its theoretical soundness but has actually produced real results. Prickett (2003) noted that in 2003, a study that involved 35 firms in the UK proved that the best performance measurement
Balanced Scorecard Blogger Balanced Scorecard Financial Perspective Customer Perpsective MEASURES MEASURES Don't drag Costs Ease of use Complaint/question rate Contribute Cash flow, profit margin Innovation Percentage of users adopting new features Rate of additional feature additions Generate Percentage of parent's total revenue Integration Reported problems adding additional non-Google components Reported problems with Google components Frequency of use with various applications Internal Business Pers. Innovation/Learning MEASURES MEASURES Increased crossover Rate of adoption of other google products by Blogger Usability focus Customer feedback Rate of Blogger adoption by users of other products Continuous in-house testing and review Ad embedding Click rate for Google-placed ads Marketing
However, none was found that centered on small hotels in China. This research add to the existing body of research by providing an assessment of the balanced scorecard method in this special business setting. The information obtained by this study will help to make small hotels in China more competitive and able to compete well into the future. This research will play an important role in the development of the
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