Discussion: Developing a Balanced Scorecard
How does a group gauge whether the strategic changes they implement are creating sound business results?
The effective use of a balanced scorecard can facilitate alignment between strategic initiatives and day-to-day operations. The balanced scorecard may serve as a valuable tool for monitoring progress and assessing the outcomes of a strategic plan and provide a practical means of communication.
In this Discussion, you examine the use of a balanced scorecard to measure performance related to finances, customer/client satisfaction, internal processes, and learning and growth.
To prepare:
Review the information in the Learning Resources, including this week’s media presentation, focusing on the development of performance metrics for a strategic plan. See Figure 8-6: Design your Balanced Scorecard in the Sare and Ogilvie course text.
With your Course Project in mind, think about how you would develop a balanced scorecard to measure performance, including the processes you would use to gather appropriate data.
Consider how the use of a balanced scorecard reflects the importance of being able to evaluate progress, assess the impact of planned change on performance, and determine if the costs are justified in terms of the outcomes.
Post an explanation of your plan for creating a balanced scorecard as part of your Course Project, including the processes you would use to gather data to measure performance. Explain how the use of this balanced scorecard would enable you to evaluate progress, assess the impact of your proposed change, and determine if the costs are justified in terms of the outcomes.
Read a selection of your colleagues’ responses. (I will send the peer responses on the handshake private message)
Respond to at least two of your colleagues on two different days by offering suggestions for further developing their balanced scorecards. Ask questions to peer responses at the end of every response. Cite your responses.
Required Readings
Sare, M. V., & Ogilvie, L. (2010). Strategic planning for nurses: Change management in health care. Sudbury, MA: Jones and Bartlett.
Chapter 8, “Overview of Strategic Planning Theories: Strategic Planning Architecture” (pp. 147–166)
Fields, S. A., & Cohen, D. (2011). Performance enhancement using a balanced scorecard in a patient-centered medical home. Family Medicine, 43(10), 735–739.
Copyright 2011 by Society of Teachers of Family Medicine. Reprinted by permission of Society of Teachers of Family Medicine via the Copyright Clearance Center.
The authors discuss using a balanced scorecard for quality improvement in patient-centered medical homes.
Groene, O., Brandt, E., Schmidt, W., & Moeller, J. (Aug 2009). The balanced scorecard of acute settings: Development process, definition of 20 strategic objectives and implementation.International Journal for Quality in Health Care, 21(4), 259–271.
Copyright 2009 by Oxford University Press - Journals. Reprinte.
Developing a Balanced Scorecard to Evaluate Strategic Plan Progress
1. Discussion: Developing a Balanced Scorecard
How does a group gauge whether the strategic changes they
implement are creating sound business results?
The effective use of a balanced scorecard can facilitate
alignment between strategic initiatives and day-to-day
operations. The balanced scorecard may serve as a valuable tool
for monitoring progress and assessing the outcomes of a
strategic plan and provide a practical means of communication.
In this Discussion, you examine the use of a balanced scorecard
to measure performance related to finances, customer/client
satisfaction, internal processes, and learning and growth.
To prepare:
Review the information in the Learning Resources, including
this week’s media presentation, focusing on the development of
performance metrics for a strategic plan. See Figure 8-6: Design
your Balanced Scorecard in the Sare and Ogilvie course text.
With your Course Project in mind, think about how you would
develop a balanced scorecard to measure performance, including
the processes you would use to gather appropriate data.
Consider how the use of a balanced scorecard reflects the
importance of being able to evaluate progress, assess the impact
of planned change on performance, and determine if the costs
are justified in terms of the outcomes.
Post an explanation of your plan for creating a balanced
scorecard as part of your Course Project, including the
processes you would use to gather data to measure performance.
Explain how the use of this balanced scorecard would enable
you to evaluate progress, assess the impact of your proposed
change, and determine if the costs are justified in terms of the
2. outcomes.
Read a selection of your colleagues’ responses. (I will send the
peer responses on the handshake private message)
Respond to at least two of your colleagues on two different days
by offering suggestions for further developing their balanced
scorecards. Ask questions to peer responses at the end of every
response. Cite your responses.
Required Readings
Sare, M. V., & Ogilvie, L. (2010). Strategic planning for nurses:
Change management in health care. Sudbury, MA: Jones and
Bartlett.
Chapter 8, “Overview of Strategic Planning Theories: Strategic
Planning Architecture” (pp. 147–166)
Fields, S. A., & Cohen, D. (2011). Performance enhancement
using a balanced scorecard in a patient-centered medical home.
Family Medicine, 43(10), 735–739.
Copyright 2011 by Society of Teachers of Family Medicine.
Reprinted by permission of Society of Teachers of Family
Medicine via the Copyright Clearance Center.
The authors discuss using a balanced scorecard for quality
improvement in patient-centered medical homes.
Groene, O., Brandt, E., Schmidt, W., & Moeller, J. (Aug 2009).
The balanced scorecard of acute settings: Development process,
definition of 20 strategic objectives and
implementation.International Journal for Quality in Health
Care, 21(4), 259–271.
Copyright 2009 by Oxford University Press - Journals.
Reprinted by permission of Oxford University Press - Journals
via the Copyright Clearance Center.
In this article, the authors discuss the use of a balanced
3. scorecard as a tool for strategic planning in hospitals. The
article includes an example of a strategy map, timeline, and
balanced scorecard.
Jeffs, L., Merkley, J., Richardson, S., Eli, J., & McAllister, M.
(2011). Using a nursing balanced scorecard approach to measure
and optimize nursing performance. Nursing Leadership, 24(1),
47–58.
Copyright 2011 by Longwoods Publishing Corporation.
Reprinted by permission of Longwoods Publishing Corporation
via the Copyright Clearance Center.
Kollberg, B., & Elg, M. (2011). The practice of the balanced
scorecard in health care services.International Journal of
Productivity and Performance Management, 60(5), 427–445.
Retrieved from the Walden Library databases.
The authors look at the use of a balanced scorecard for health
care performance management in Sweden.
Lupi, S., Verzola, A., Carandina, G., Salani, M., Antonioli, P.,
& Gregorio, P. (2011). Multidimensional evaluation of
performance with experimental application of balanced
scorecard: A two year experience. Cost Effectiveness and
Resource Allocation, 9(1), 7.
Retrieved from the Walden Library databases.
This article examines the application of a balanced scorecard
within a unit in a hospital to compare performance results and
goal achievement.
Balanced Scorecard Institute. (2013). Balanced scorecard
basics. Retrieved
fromhttp://www.balancedscorecard.org/BSCResources/Aboutthe
BalancedScorecard/tabid/55/Default.aspx
View the information on this website to learn about balanced
scorecards.
Mountain State Group. (n.d.) Balanced scorecards for small
rural hospitals: Concept overview and implementation guidance.
4. Retrieved March 13, 2013,
fromhttp://www.ruralcenter.org/sites/default/files/Final%20BSC
%20Manual%2010.18F.pdf
The Scarborough Hospital. (2013). Balanced scorecard.
Retrieved fromhttp://tsh.to/pages/Balanced-Score-Card
This website provides an example of a balanced scorecard.
Sunnybrook Health Sciences Centre. (2013). Balanced
scorecard. Retrieved
fromhttp://sunnybrook.ca/scorecard/index.asp#sr
This website provides an example of a balanced scorecard.
Required Media
Laureate Education (Producer). (2013a). The balanced scorecard
approach [Video file]. Retrieved from the
https://class.waldenu.edu
Note: The approximate length of this media piece is 3 minutes.
Dr. Carol Huston discusses the elements and use of a balanced
scorecard as a strategic planning evaluation tool.