Chapter 4 PowerPoints_edited

Chapter 4 PowerPoints_edited - Chapter4 Strategyand The...

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Chapter 4 Strategy and  the Balanced Scorecard
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Healthcare Operations Management © 2008 Health Administration Press. All rights 3 The Balanced Scorecard   What gets measured gets managed
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Healthcare Operations Management © 2008 Health Administration Press. All rights 4 What’s on Your Desk Today? Urgent operating problems Employee turnover— recruiting Last year’s initiative This year’s new initiative 40 e-mails and 10 voice mails Financial performance pressure
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Healthcare Operations Management © 2008 Health Administration Press. All rights 5 Traditional Management Tools Financial Reports: P/L Balance Sheet ROI-ROCE Operating Statistics Strategic Plan
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Healthcare Operations Management © 2008 Health Administration Press. All rights 6 The Theory of Management Financial Results Operating Statistics Strategic Plan Operations Management Control
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Healthcare Operations Management © 2008 Health Administration Press. All rights 7 Traditional Management Tools Created by different departments Reviewed by different managers Reviewed in different time frames No connection to each other
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Healthcare Operations Management © 2008 Health Administration Press. All rights 8 The Problem  Poor linkage of strategic plan to operations and expected financial results; strategies are not “actionable” Strategies are not linked to departmental, team, and individual goals Strategies are not linked to both long-term and short-term resource allocation Feedback is tactical, not strategic (e.g., focuses on financial reporting only) The result—poor execution and long-term outcomes
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Healthcare Operations Management © 2008 Health Administration Press. All rights 9 Kaplan and Norton Study in 1990—“Measuring Performance in Companies” Balance Financial, customer, internal, innovation, and learning Short-term and long-term objectives Financial and nonfinancial measures Leading and lagging indicators Internal and external performance Aligning measures with strategy Developing a “theory of the company”
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Healthcare Operations Management © 2008 Health Administration Press. All rights 10 Balanced Scorecard as a  Strategic Management System Clarify and translate vision and strategy Communicate and link strategic objectives and measures Plan, set targets, and align strategic initiatives Enhance strategic feedback and learning
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Healthcare Operations Management © 2008 Health Administration Press. All rights 11 Balanced Scorecard in Healthcare Highly complex environment Multi-stakeholder leadership Resists change Catastrophic failure difficult to anticipate Excellent strategic management tool Use increasing in many healthcare organizations
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Healthcare Operations Management © 2008 Health Administration Press. All rights 12 Elements of the Balanced Scorecard Mission and vision Perspectives Financial Customer Internal business process Learning and growing
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This note was uploaded on 08/21/2011 for the course AHS 403 taught by Professor Paustian during the Summer '11 term at University of Alabama at Birmingham.

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Chapter 4 PowerPoints_edited - Chapter4 Strategyand The...

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