Unformatted text preview: company’s managers to identify what should be done and measured. A company’s executives are then enabled to execute their strategies in a clear and concise way. An example of a financial and non-financial measurement of BSC is: • Decrease supply cost and reallocate savings to increase staff in a hospital. (financial). • The savings from the financial BSC will be utilized to improve patient satisfaction (more staff) and have more relaxed, friendlier staff. In the above example, the benefits of using BSC is for organizational alignment and focus. Of importance, using BSC for a hospital will aid in focusing the hospital’s strategy while improving decision-making, improve accountability, and help management set priorities (like improving patient satisfaction and reducing supply costs)....
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- Spring '10
- Management, financial BSC, useful measurement approach