Question
Can you provide your comment on the balanced scorecard below? Financial Measure: My organization do the regular measurement of liquidity: Cash into your account to
Can you provide your comment on the balanced scorecard below?
Financial Measure: My organization do the regular measurement of liquidity: Cash into your account to review. Measures for profitability. Net income from last year, they also ensure the profits are going in the right direction. Yearly department budgeting allocation. My CEO will share how well we are doing in the annualprofits reporting, examples include financial ratios such as return on assets, return on equity, and return on investment. As I am not at top-management level yet, I believe some of the financial information may not be shared to us, but I know the measures of success are indicators by which organizations may be measured. Both representatives, investors and shareholders are monitoring and analyzing metrics such as earnings, asset values, and revenue in an effort to better grasp how effectively the organizations compete in the market, as well as anticipated benefits for the future.
Customer Measures: Customer measure success metrics contribute to patient attraction, satisfaction and retention. Such indicators offer insight into the main issue "how do clients perceive us? "The number of new clients and the proportion of returning customers may be indicators. My hospital has special customer service team and VIP client team, they work closely with operation, nursing and management side to tract the patient satisfaction surveys, monitor each department's compliments vs complaints, to identify the gaps and in order for us to improve or provide the service recovery on time. In addition, my hospital do offer free variety of drinks for all patients at waiting areas and provide all clients with free access of Wifi, rewards with free Limo services to send them home for those patient discharge on time.
Internal process measure: Quality measures of the internal business processes contribute to operating efficiency. As I mentioned, we regularly monitor our Key Performance Indicator (KPI) throughout period. KPI's demonstrate development towards a desired result. Aside from quality assurance measure, we also have our own material management supply which can get lower cost of goods, medical consumables, even for medical equipment budgeting we also have organization uniform price and contract pricing for related equipment preventive maintenance. So that makes it much easier for the each dept managers to raise the yearly capex budgeting. As a manager level, we also bring in some advance surgical instruments or equipment for evaluation to attract and provide more better services but those surgical instruments and imported medical equipment must fulfill with license by Singapore Health-Science-Authority.
Organization Capacity-Learning and Growth: Measures for learning and growing apply to the future. Those interventions offer feedback to say the organization, "Will we keep developing and adding value? "Tools for learning and development rely on creativity and need to recognize the approaches evolve over time. An example of a measure my organization of learning and development is the amount of new skills which our workers gain per year, despite my organization is slow in staff career development with very slow promotion, but my organization do send 2 batches staffs yearly to local academic institution for 10 month full time study, such like advance diploma or specialist diploma, I was one of them have completed my 2 advance diplomas study both in medical and surgical specialized areas.
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