26 Aug The balanced scorecard (BSC) is essentiall
The balanced scorecard (BSC) is essentially a customized performance measurement system that goes beyond conventional accounting and is based on organizational strategy. It is a holistic methodology that converts an organization’s vision and strategy into a comprehensive set of linked performance and action measures that provide the basis for successful strategic measurement and management. It is considered balanced because the performance measures are grouped into various perspectives (typically four) that are critical for organizational success. The system strikes a balance between financial/operating and other measures and provides a set of forward looking performance indicators linking strategy to specific actions. These measures and indicators, when correctly developed, provide a comprehensive view of organizational performance. The BSC’s performance measurement and strategic planning methodology is directly applicable to the health services sector and healthcare organizations. This paper provide details of usage of BSC in health care sector.
Note: You may write a 15-20 page paper on the balanced scorecard as applied to an industry or field. For instance, if you work in the healthcare fields, you may want to explore how physician groups, for-profit or not-for-profit hospitals, insurers, etc. use the balanced scorecard approach to evaluate and/or help formulate strategy. APA format, citations and references are required for the research paper choice. I have choose Healthcare.
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