Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
BALANCED SCORED CARD & THE FINANCIAL PERSPECTIVE
The Balanced Scorecard & the Financial Perspective
CCRC (Cattaraugus County Rehabilitation Center) is a non-profit organization that focuses on the rehabilitation of disabled people in order to improve their quality of life. The organization also delivers the comprehensive services for disabled people to achieve maximum independence. Similar to the for-profit organizations that used balanced scored to maximize their revenues, the Center also attempted to use the strategy planning tools to enhance its effectiveness, however, the organization faced several challenges in its implementation. The new Director of the Strategic Planning introduced the Balanced Scorecards tool "to cascade strategic planning throughout the entire organization." (Martello, Watson, Fischer, 2008, p 72). The goal of using the Scorecard is to align each area of the organization with the overall strategic plan.
This paper argues that the organization has done a good job by implementing the Balanced Scorecard to reflect the organizational vision and mission.
Analysis
The outcomes of the implementation of the Scored card reflect from the organizational vision and mission. The mission of the Center is to improve the quality of disabled people using the strategies to access and provide comprehensive services to each individual in order to achieve a maximum independence. The Center also aims to pursue the mission to deliver valued-based culture. Similarly, the vision of the Center is to be a leader in accessing and providing desires services to disabled people. The Center aims to emphasis...
(Murby, Gould, 2005). The strategic objectives of the Center show that the organization places the financial perspective and consumer perspective equally importance. Typically, the organization uses the Kaplan Scorecard model to achieve its financial outcome; the Scored card model that the CCRS designs for itself has been very suitable which assists it to achieve both its vision and mission objectives.
With emphasis to consumer perspective, the intent of the Center is to enhance consumer satisfaction to improve the access to services by providing support to the family of disabled individuals. The Center also strives to increase its services within the natural environment. Additionally, the Center aims to improve the quality of life of their consumers and accomplish the objectives by assisting the disabled individuals to develop individualized plan, assisting them explore opportunities and provide them with job opportunities.
Similarly, the Center tries to achieve its financial stability to improve productivity and increase revenue by exploring different new revenue sources, maximize prior funding, as well as increasing the discretionary funds. The Center also attempts to operate within the breakeven level in its operations and efficiently utilize the resources. As being revealed in the Appendix 1, the organization has been able to…
Sources)
$0
Total Contributions
$927,807
Program Service Revenue
Internal Business Process Perspective balanced scorecard turns attention aspects organization's operations possibility direct control managers employees. The balanced scorecard at Duke's Children Hospital In the context of a rapidly evolving society, the health care sector must also develop new mechanisms by which to keep up with the emergent changes and challenges. One example in this sense is represented by the implementation of business tools and techniques within the act of health
Customer Perspective Balanced Scorecard On what specific customer perspectives did each company focus, and what measures did each company use to ascertain how well it was meeting the goals implied by those specific perspectives? As far as Hyde Park Electronics is concerned, they were concentrating on the quality of the product that was delivered to determine customer perspectives. The measures that were used to achieve these objectives were: manufacturing / labor efficiency
Learning Growth Perspective Balanced Scorecard Futura Industries Balanced Scorecard The success or failure of any business entity is greatly dependent on how well align its goals and management systems are with its strategic plans. There have been cases reported where businesses failed to make it big despite of having excellent strategic plans. This was because they failed to keep their management systems and activities in line with their strategic plans. While management in itself
Internal business process perspective balanced scorecard turns attention aspects organization's operations possibility direct control managers employees. Here a summary approach: Niven, P. (N.D.) Internal Process perspective. The balanced scorecard at the Duke Children's Hospital The change process at Duke Children's Hospital was decided upon as the healthcare institution faced severe challenges. Its operational costs were increasing while its revenues were decreasing. Issues had been raised about eliminating specific programs and reducing the
Balanced Scorecards: The Customer Service Perspective Balanced Scorecards The Customer Service Perspective Hyde Park Electronics, Futura Industries and Southern Gardens Citrus (SGC) all were able to transform their businesses using Balanced Scorecard (BSC) methodologies that aligned each of their respective businesses to customers so that value was consistently created and delivered, growing each business in the process. Each was able to quickly progress beyond using BSC frameworks as a means to track financial
Ultimately, McDonald's will have to drill down into the business processes that influence customer satisfaction and thus, frequency. Is service quick and efficient and are employees appropriately trained (Balanced Scorecard 101)? McDonald's could measure such elements as the amount of time from order to delivery, the number of employees attending and passing training classes (Balanced Scorecard 101) and employee retention (Wendy's). Most large organizations such as McDonald's have a strategy in