Balance Score Card

Todays organizations mostly emphasize on financial performance measures. It is dis-satisfactory to know that financial measure is the main tool used to assess the overall health of the organization. Financial indicators never tell the entire story of an organization, since talent, organizational culture, and customer relationships go a long way toward dictating future financial performance. Any Hospital needs to prepare for the future to ensure long term survival and profitability. The balanced scorecard provides an approach to deciding where the organization is heading (its strategies), what is needed to get there (objectives) and what has to measured and controlled now to ensure that it stays on course to deliver the desired outcome in the future. As a way to measure non-financial performance in an organization, the balanced scorecard approach "balances" customer, internal process, and learning and growth measures against traditional financial measures.