Balanced Scorecard
The internal business processes perspective of the balanced scorecard highlights metrics that allow managers to understand how well their business is running. These processes should be tied closely to enhancing financial objectives, and should reflect a high level of congruence with the customer and learning & growth perspectives as well (BSI, 2013).
The organization's mission and vision should be the basis for this analysis. At Cattaraugus Rehabilitation Center the focus is on improving patient outcomes and containing costs, so the metrics used in the internal processes perspective should reflect this. The first metric is to improve patient success rates. This has to be defined, but for each rehabilitation case there are specific objectives that are set within the industry based on medical science and industry knowledge. There is some leeway for medical staff to change the measures of success where unique circumstances arise. Thus, the first objective is going to be to get the patient success rate to 99% from its current rate of 98%. This represents an improvement in patient outcomes. This measure is the output of a lot of hard work, in particular with respect to the training of staff in critical areas. So now that there is a metric...
Lessons Learned From the Balanced Scorecard Implementation at BAE BAE Systems competes in several of the most complex, capital- and knowledge-intensive areas of the aerospace and defense industry making each of their product lines and divisions highly dependent on accuracy, efficiency and quality management. For BAE Systems, ensuring exceptional orchestration of each aspect of a project is essential for their growth and continued viability as a business. From their aerospace product
Balanced Scorecard Google's internal business processes are surprisingly informal for a group of engineers. Rather, Google likes to encourage the creative side of their workers, and so there is an emphasis on projects, even where there is no clear objective at the outset. The company also embarks on projects where there is no clear profit potential -- such is life at a company with $50 billion in the bank. The reality
Bsba Integrative Project Learning Growth Internal Business Processes Customer Service Financial Employee training hours, employee satisfaction, New loans created, new accounts, new products introduced, cross sells, and referrals. Number of products per customer, number of new customers, customer satisfaction, customer retention, sales calls to customers, and thank you calls to existing customers. Outstanding Loan Balances, Deposit Balances, Noninterest income, Financial Performance Measures Internal Business Process Objectives and Performance Measures Customer Objectives and Performance Measures VISION & STRATEGY Learning & Growth Objectives and Performance Measures The causal chain indicates that
BSC Customer One of the aspects of the balanced scorecard framework is the customer service perspective. This perspective is based on the idea that there is "an increasing realization of the importance of customer focus and customer satisfaction in any business" (BSI, 2013). The general idea is that there is a strong link between pleasing the customer and achieving the desired financial results in particular. If nothing else, it is critical
Balanced Scorecard: Internal Business Perspective Increasingly companies large and small are implementing the balanced scorecard (BSC) as "a management system that enables organizations to clarify their vision and strategy and translate them into action" (Balanced Scorecard Institute. N.D.). In Kaplan and Norton's framework of the BSC they articulated four distinct perspectives: financial, customer, internal process, and learning and growth; because "financial measures alone were not sufficient to measure performance" (Gumbus, A.
This allows for greater levels of planning and cooperation, and fills in the information gap that currently exists between the factory floor and the rest of the supply chain. Lexmark provides an example of waste. Recently, the company found itself with more than $1 million in scrap from one lot. Engineers had insufficient information to isolate and fix the problem, so were instead relegated to crisis control. With more accurate
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