Scorecard Analysis Process Improvement Report

Document Type:Coursework

Subject Area:Business

Document 1

These factors are categorized into four main domains as per the balanced scorecard: Financial perspective, internal processes, learning and growth, and customer perspective. Through the understanding of these factors, managers can make decisions that will warrant faster and effective achievement of the set objectives without contradictory outcomes from diverse sectors. Moreover, business scorecard affords the mobilization of all team members to work towards a common purpose rather than a multitude of diverse approaches. This report discusses the business scorecard analysis of Mayo Clinic and identifies key indicators to guide the organization towards the achievement of quality and safety within an organization. Scorecard Analysis: Process Improvement Report Introduction The Balanced Scorecard (BSC) is a system for strategic planning and management that allows managers to communicate the vision of the organization, align the day-to-day tasks and responsibilities of the personnel with the vision, prioritize products, services and projects, and measure and monitor the progress made towards achieving these targets. As a tool of management and strategic planning, the balanced scorecard gives manager comprehensive and multifaceted information within a shorter period. Using the system of the balanced scorecard, an organization is viewed in four major perspectives that are used to develop the aims, measures, targets, and the initiatives that relate to all these perspectives. The financial perspective analyzes the firm in terms of the business performance and how the financial resources are being used. The customer perspective considers the organization performance with regard to the expectation and views of the clients while the internal process centers on the business procedures that determine the quality of the products, service or any other business undertaking.

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Finally, the organizational capacity observes the performance of the firm in through the perspective of the human capital, infrastructure, technology, culture, and other capacities that are essential to the breakthrough of the performance (Kaplan & Norton, 1992). The purpose of this assignment is to offer a thorough description of Mayo Clinic, which includes its vision and mission. After describing the organization, the paper will analyze the company using the adaptation of the Kaplan and Norton balanced scorecard framework that fits your selected organization. Further, we will express the vision, strategy, objectives, measures, targets, and initiatives for each of the following four elements of the balanced scorecard through a macro-level discussion. These elements are financial performance measures, internal business measures, learning and growth, and customer satisfaction. We will also convey the values of Mayo Clinic through an ethical, organizational, and directional strategy as well as synthesize evidence-based and best practices into recommendations for monitoring and improve discussions.

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Moreover, as earlier stated these indicators are interdependent and contribute to the quality of the care provision process within the hospital. There are definite causes and effects that link all these four perspectives so that a shift in one will enhance the other perspective. For example, an initiative that will alter the internal processes will eventually influence the financial indicators, customer perspective, and learning and growth processes. There are numerous activities within the organization that run concurrently and may be difficult to determine the progress at one particular point. There the balanced scorecard is an appropriate tool to assist the organization achieves its primary objective of enhancing patient safety and quality of care. The four perspectives of the balanced scorecard are essential for the achievement of quality throughout Mayo Clinic and ensuring that the primary mission and goals are achieved (Kaplan & Norton, 1992).

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Through the application of the balanced scorecard, the organization managers have understood that the scorecard represents a fundamental shift regarding the underlying assumptions that dictate performance management, particularly regarding quality improvement and patient safety. The implementation of the targets set through the balanced scorecard requires the involvement of all key stakeholders. This will ensure that all parties undertake their responsibilities to warrant the achievement of each set target. In the case of Mayo Clinic, the management, particular administrators across the departmental sectors were required to ensure that the comprehensive decisions are implemented throughout the organization. Managers are forced to consider all the significant operational measures when making decisions for the organization (Kaplan & Norton, 1992). Currently, the balanced scorecard has produced a comprehensive strategy to manage the performance of the organization. The managers acknowledge that the organization has assisted them to devise viable plans towards quality enhancement and patient safety (Gomes & Liddle, 2009).

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In Figure 1, we see how the perspectives of the balanced scorecard link with the vision and mission of the organization. This also demonstrates the interdependence between these perspectives in order to achieve the primary goal of the organization. Internal Business Process While the financial targets and indicators are essential, they need to be incorporated into the business procedures within the hospital to ensure that set targets are achieved on time. The optimum financial performance of the organization depends on processes, decisions, and actions that determine the quality of care and patient safety. Mayo Clinic managers aimed to focus on the critical internal procedures that enable them to improve quality and enhance the safety of patients. The indicators for this are reduced rates of hospital accidents, reduced mortality rates, and reduced medical errors.

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An optimum care quality and high levels of patient safety are determined by efficient internal processes. Majorly, it was noted that the concerns of customers tend to fall into four main categories namely, time, quality, performance and service, and cost. All these factors determine the level of quality and safety within an organization. In order to enhance quality from the perspective of customers, the organization has resolved to pursue several indicators that include reduced rates of customer complains, having facilities for managing families and visitors during the care provision process and enhanced levels of patient satisfaction. All these factors center on the level of care quality and safety measures implemented by the company. These targets are achievable because Mayo Clinic has the capacity to invest in appropriate technologies to warrant patient safety.

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In order to achieve this, there is need to undertake a comprehensive analysis of the current events within the system of care delivery, which is afforded by the Balanced Scorecard. After establishing the potential areas of improvements, it commendable to ensure that team members are aware of the proposed changes and what the organization intends to do in order to achieve these targets. Moreover, each of the established areas of improvements must be clearly defined and set targets and indicators based on the objective of the organization (Jackson, 2015). Organizational Efficiency Evidently, organizational efficiency is essential in warranting care quality and patient safety. When processes are carried with zero or minimal hurdles, it is apparent that the quality of care will also be enhanced. In order to implement the outcome of the business scorecard analysis, there is need to have a comprehensive system of executing all the measures.

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This will ensure all areas are covered and workers have a clear understanding of what the organization aims at. References Behrouzi, F. Shaharoun, A. M. The balanced scorecard as a performance management tool for third sector organizations: the case of the Arthur Bernardes Foundation, Brazil.  BAR-Brazilian Administration Review, 6(4), 354-366. Hill, T. J. Powell, L. The Balanced Scorecard - Measures That Drive Performance. Harvard Business Review, 71-79. McDonald, B. A Review of the Use of the Balanced Scorecard in Healthcare.  Newcastle: BMCD Consulting.

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