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Introducing The Balanced Scorecard: Creating Metrics To Measure Performance, Andra Gumbus
Introducing The Balanced Scorecard: Creating Metrics To Measure Performance, Andra Gumbus
WCBT Faculty Publications
This experiential exercise presents the concept of the Balanced Scorecard (BSC) and applies it in a university setting. The Balanced Scorecard was developed 12 years ago and has grown in popularity and is used by more than 50% of the Fortune 500 companies as a performance measurement and strategic management tool. The BSC expands the traditional financial measures into three other dimensions to capture a balanced approach to measure performance in an organization. These additional dimensions are as follows: Customer Focus, Competence/Employee Learning and Growth, and Operational Efficiency. The exercise uses an analogy of a race car driver who relies …
Designing And Implementing A Balanced Scorecard: Lessons Learned In Nonprofit Implementation, Andra Gumbus, Tom Wilson
Designing And Implementing A Balanced Scorecard: Lessons Learned In Nonprofit Implementation, Andra Gumbus, Tom Wilson
WCBT Faculty Publications
The balanced scorecard has been referred to as the management innovation of the century, and extensive articles have been written using case studies of organizations that use this performance measurement system. This article addresses the key issues of design and implementation with a step-by-step guide to how to design a balanced scorecard and lessons to avoid implementation problems in government and nonprofit settings.
Designing A Strategy To Effectively Communicate The Balanced Scorecard, Andra Gumbus, Bridget Lyons, Tom Wilson
Designing A Strategy To Effectively Communicate The Balanced Scorecard, Andra Gumbus, Bridget Lyons, Tom Wilson
WCBT Faculty Publications
As increasing numbers of organizations adopt the balanced scorecard (BSC) to align strategy with operations and measure progress toward meeting strategic goals, the importance of successful communication of the scorecard throughout the organization has become apparent. Successful implementation and effective use of the BSC occurs when organizational stakeholders recognize its role, use, and benefits. In the March/April 2003 issue of Cost Management, we detailed how Bridgeport Hospital, a member of Yale New Haven Health System (YNHHS), adopted the BSC and used the scorecard to align capital investment decisions with strategy.1 In this article, we will profile how the hospital designed …
The Balanced Scorecard At Philips Electronics, Andra Gumbus, Bridget M. Lyons
The Balanced Scorecard At Philips Electronics, Andra Gumbus, Bridget M. Lyons
WCBT Faculty Publications
The drive to implement the balanced scorecard at Philips Electronics came from the top down - as a directive from the Board of Management in Europe to all Philips divisions and companies worldwide. The directive went to each of the companies and their quality departments, with the effort in the medical division headed by the Quality Steering Committee that reports to the president of Philips Medical Systems. Philips Electronics has used the balanced scorecard to align company vision, focus employees on how they fit into the big picture, and educate them on what drives the business. An essential aid to …
Journey To Destination 2005, Andra Gumbus, Bridget M. Lyons, Dorothy E. Bellhouse
Journey To Destination 2005, Andra Gumbus, Bridget M. Lyons, Dorothy E. Bellhouse
WCBT Faculty Publications
Bridgeport Hospital and Healthcare Services (BHHS) in Bridgeport, Conn., a part of the Yale New Haven Health System (YNHHS), embraced the balanced scorecard because it had been experiencing a loss in revenue and income due to managed care penetration in the local marketplace. This hospital is not alone in facing financial pressures. The balanced scorecard provides the framework for measuring performance in a complex and changing medical environment. Still retaining financial measures, the following drivers of financial success are incorporated into Bridgeport's scorecard: quality clinical outcomes; expert clinical care providers; satisfied patients, doctors, and staff; and volume and market-share growth. …