DQ and assignmentrkp112156
Dr. Tyler Zerwekh Capella University
Introduction to Kine Medical center.
Mission and Vision.
The Four Elements of the Balanced Scorecard
Learning and Growth
Kine’s Medical Center has struggled over the years to improve on the quality of care that it provides. In the current project, we aim to develop a balanced scorecard, that will enable the company pursue its ambition. Moreover, the system has a direct association with vision, mission and strategy of the company which is beneficial for the organization.
Mission and vision.
The kind of service that patient's receive does not only determine the level of patient outcome, but also the quality of care delivered by providers. We always try our best.
Each patient is treated with kindness and compassion through fairness, honesty and integrity.
All workers are treated with respect, dignity, and equality.
An organization can be considered successful if it can adequately address the needs of its customers, Kine is always applying more efforts for better enhancement of the healthcare organization.
A balanced scorecard is a performance metric used in strategic management to identify and improve various internal functions of a business and their resulting external outcomes.
Balanced scorecard has four major elements for
assessing organizational performance.
These facets include-
Learning and Growth,
and Customer perspective. (Kaplan & Norton, 1998).
The above mentioned all four perspectives provide's us with an insight into the state of an organization.
The term Balance scorecard (BSC) refers to a framework that is used to measure the strategic performance of an organization or business. The framework was developed in 1991 by Robert Kaplan and David Norton. Initial, BSC was developed to help organizations measure their performance in a more balanced way(Balanced Scorecard Institute, n.d.).Prior to the development of BSC, organizations used to assess their performance by only measuring their financial status.BSC tracks both financial and non-financial measures to determine organizational effectiveness.
The fundamental goal to the Kine Medical center is company’s economic well-being and production is covered in this viewpoint. This aspect inspects organizational, budgetary review and its resources.
Financial performance measures determines how an organization will strategize and implement a plan that will benefit the overall organization (Kaplan & Norton, 1992).
Objective of the Kine medical center includes- Cost effectiveness, profit parameters and generating more resources.
Financial measures includes the growth in revenue to generate more mix along with custom practices.
Internal performance measures the inside procedures used to get goals completed within the organization(Kaplan & Norton, 1992). It discusses which methods are crucial for providing consumer and stockholders satisfaction and demand firm concentrate on attempting to overcome those segments.
The major objective of Internal perspective is to enhance the quality of products, and improving the process of manufacturing.
Where as the Measures of internal perspective tells us about the quality check, improvement of the production system along with EMR systems.
Learning and Growth Perspective
The learning and growth process of the balanced scorecard tells us about the implementation of innovation and organizational improvements to ensure the launch of new services and or products (Kaplan & Norton, 1992).
Objectives of the L&G perspective focuses on the education and training’s provided for employees to retain proper turnover of the staff’s.
Whereas Measures includes staff engagement and proper leadership among the team.
To determine whether the project will achieve measurable results, will carry out cost-benefit analysis. In essence, the cost-benefit analysis will enable us to compare the anticipated cost of implementing the customer service system to the total expected benefits. Through this comparison, we can determine whether our proposed project is worth implementing by the company or not. If the results of the analysis reveals that the overall benefits outweigh the incurred costs, then we can proceed with the implementation process. (Plowman, 2014)
The customer perspective of the balanced scorecard uses customer experience and customer service to meet the customer’s needs (Kaplan & Norton, 1992). It focuses on the organizational production from the consumer who needs assistance.
The most important objective reflects the customer satisfaction and the pre/post services provided to them along with the proper branding of the products.
Last but not the least few important measures reflected by customer perspective includes- Surveys, time-efficient system and feedbacks.
For successful implementation of the project, it is necessary to plan well and assemble the necessary resources before starting the process. Moreover, it is necessary to have personnel in place who can handle the system. For this reason, the organization needs to train individuals on how to handle the needs of the customer service system.
According to my perception Kines medical health center has been one of the best in the health care industry as they keep on trying best to provided perfection towards the customers (patients) satisfaction.
Finally would like to say they just need few enhancement for the better outcomes which are as follows-
Continuous training to the staff for upgrading them with latest technologies.
Proper channels for reducing communication Gap among the employee.
Adoption of latest technologies for best quality services for clients.
Cost effective treatments for all.
Kaplan, R. S., & Norton, D. P. (1996). Linking the balanced scorecard to strategy. California Management Review, 39(1), 53-79. Retrieved from http://library.capella.edu/login?url=https://search-proquest-com.library.capella.edu/docview/216142220?accountid=27965
Kaplan, R. S., & Norton, D. P. (1998). Putting the Balanced Scorecard to Work. The Economic Impact of Knowledge, 315-324. doi:10.1016/b978-0-7506-7009-8.50023-9
Balanced Scorecard Institute. (n.d.). What is the Balanced Scorecard? Retrieved from https://www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard
Plowman, N. (2014, October 24). How to Create a Cost Benefit Analysis: Sample CBA Template Available for Free Download. Retrieved from https://www.brighthubpm.com/project-planning/58181-writing-a-cost-benefit-analysis/