Balance Scorecard method used in Cattaraugus Country ReHabilitation Center

Soderberg, Kalagnanam, Sheehan, and Vaidyanathan (2011) presented the balance scorecard as a strategic planning procedural tool used by organizations to balance financial concerns, customer concerns, process concerns, and innovation concerns with the main purpose of developing appropriate strategy in favor of a more favorable market position (p. 689-690). Similarly, Lawrence and Webber (2008) illustrated

In this letter I present the most recent analysis and design of the Comprehensive Balance Scorecard (BSC) for a non-profit, award-winning, and highly progressive with an outstanding broad-based collection, Otago Museum. The Balanced Scorecard (BSC) is an example of a performance measurement system. The newly created performance measurement system incorporates four different dimensions, such as Financial, Community / Customer Perspective, Internal Business, and Learning / Innovation and Growth, in an effort to achieve goal congruence within an organization. Financial area is concerned with how well a company is using its resources. Also, it shows if an organization can further expand and operate its desired programs. Community / Customer

This essay examines Duke Children's Hospital's implementation of the balanced scorecard (BSC) approach monitoring and managing their performance. The Hospital achieved a dramatic turnaround in its finances and patient and staff satisfaction ratings over a period from 1993 to 2000. The case study authors attribute the Hospital's success to its use of the balanced scorecard methodology.

Duke Children’s Hospital fell into a crisis within the mid-1990s. Expenses were rising while dramatic reductions in net margin were occurring. Staff productivity fell and staff satisfaction was at an all-time low. They overcame the crisis by implementing the balanced scorecard. Their way of designing their scorecard catered to their business in healthcare. The higher officials of Duke Children’s Hospital made a three-step process in designing their balanced scorecard. “The three steps of proven rapid-fire approach are to: get connected, get results, and get smarter” (Meliones, 2001).

1. (TCO B) Identify four categories of measures that might constitute a Balanced Scorecard of performance measures and provide an example of each. Also explain how a Balanced Scorecard could assist your organization. This answer must be in your own words—significant cut and paste from the text or other sources is not acceptable. (Points : 30)

Balanced Scorecards positively impact in the business development of a company with an effective application of company values to sway customer perspective ADDIN EN.CITE Morgan2002317(Morgan &

“The balanced scorecard should translate a business unit’s mission and strategy into tangible objectives and measures. The measures represent a balance between external measures for shareholders and customers and internal measures of critical business processes, innovation and learning and growth. The measures are balance between outcome measures, the results of past efforts, and the measures that drive future performance. And the scorecard is balanced between objective, easily quantified outcome measures and subjective, somewhat judgmental, performance…”

A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). Healthy Place needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to the Healthy Place mission, values, vision, and SWOTT analysis.

The balanced scorecard is a strategic planning and management system that was developed by Dr. Robert S. Kaplan and Dr. David P. Norton in the early 1990's. Their goal was to provide organizations with a clear understanding of what to measure in order to improve performance and results (Balanced Scorecard Institute 2014). The balanced scorecard is a framework that allows an organization to measure performance and compare it to the organization’s strategic objectives and goals (Kinney and Raiborn 2013, 10).

"This system should be tailored to suit the company’s corporate culture, capabilities, information system, technological level of development etc" (Malvutova, 2013) because it is a framework that is aligned throughout the entire organization. The balance scorecard is so vital that in order to produce the best quality performance, it has no limits and reaches down to a hospital department level (Pane, 2011). Pane gives an example in his article of how the balanced scorecard "can be used to determine whether an

Regardless of the many advantages that an organization can make use of by adopting the balanced scorecard while planning its organizational strategies, it is seen that its adoption in the health care industry and even by the Crandon Hospital has been slow. The reason for this has been the few problems which are been faced by the non-profit health care organizations while adopting the BSC, they can be listed as:-

A balance scorecard is essential for developing a healthy business growing place. It is a vital key for defining the goals and targets of a company as well as the vision, mission and the SWOTT Analysis. A balanced scorecard is, “A set of measures that are directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2013, p. 194). This company will relate the in-building turbines values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and

A Balanced Scorecard can be defined as a “performance management tool which began as a concept for measuring whether the smaller-scale operational activities of a company are aligned with its larger-scale objectives in terms of vision and strategy” (Wikipedia 2009, ¶ 1). Scents & Things will need to develop a balanced scorecard that will assist in meeting and help define the company’s values, mission, vision, and SWOT analysis. The balance scorecard is made up of four perspectives; financial, customer, learning and growing, and internal process. This paper will define each of the four perspectives objectives, performance measures, targets, and initiatives. The paper will also show how the perspectives relate

The balanced scorecard (BSC) is fundamentally a customized performance measurement system that looks beyond traditional financial measures and is based on organization strategy. This paper discusses fundamental concepts in developing performance metrics, provides an overview of issues in developing balanced scorecard measures, and gives numerous illustrations of performance measures. As shown later, the BSC is an active area of research within the medical community. However, previous research does not report on the fundamental linkages between hospital inputs, outputs, and the creation of performance metrics. In addition, these articles provide few specific examples of balanced scorecard measures and illustrations of how the balanced scorecard translates action into improved performance.

Even though Boston Lyric Opera is a non-profit organization and its output is intangible, its organizational performance can be measured by quantitative measures. The Balanced Scorecard would bring quantitative measures alongside the qualitative measures. The Balanced Scorecard required BLO to quantify their activities. BLO acknowledged that and they for example created a database where they linked quantifiable donor data to qualitative information about donor meetings etc.