BalancedScorecardExample

BalancedScorecardExample - BALANCED SCORECARD EXAMPLE The...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 BALANCED SCORECARD EXAMPLE The following is an example of how one might develop a Balanced Scorecard. The information included is fictional and is provided to simply demonstrate the process. Anytown Hospital has just finished a two-day retreat where they revised and updated their mission and vision statements and drafted a strategic plan. The hospital’s vision statement is: The hospital’s mission statement is: During their retreat, the hospital board and leadership identified the following strategies to pursue the upcoming year. Operate in the black with 5% margin by increasing revenues Motivate, recognize and retain staff Provide high quality services Increase utilization of services The Anytown Hospital administrator enlisted the help of the department managers to implement a performance improvement process and Balanced Scorecard. First, they took these strategies and placed them into their appropriate perspectives as follows: Financial Perspectives (Business & Development) Operate in the black with 5% margin by increasing revenues Customer Perspective (Patients & Community) Increase utilization of services Internal Process Perspective (Quality & Safety) Provide high quality services Learning and Growth Perspective (Staff & Clinicians) Motivate, recognize and retain staff Anytown Hospital is committed to providing the highest quality of health care through service excellence and compassionate care The vision of Anytown Hospital is to be the community’s provider of choice.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 NOTE: Once strategies are categorized according to the four perspectives, if there are imbalances, determine if they are significant and either add or remove strategies accordingly. The next step is to determine the causal linkages between the strategies and develop a strategy map to visually portray how your strategies support your mission and vision. One of the primary reasons for developing a strategy map is that it should clearly communicate the connection
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/01/2011 for the course 1MD 021 taught by Professor Bengtsandblad during the Fall '10 term at Uppsala.

Page1 / 6

BalancedScorecardExample - BALANCED SCORECARD EXAMPLE The...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online