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HCA 610 CLC Assignment Develop a Balanced Scorecard

HCA 610 CLC Assignment Develop a Balanced Scorecard

 

Details:

For this assignment, you will be required to collaborate with classmates to develop a balanced scorecard. Your instructor will assign groups of 3 – 4 members.

Your group’s balanced scorecard should be prepared according to the guidelines found in the Rohm reading assigned in Module 6.

For examples of balanced scorecards, review the examples given in the Balanced Scorecard Institute reading assigned in Module 6 (http://www.balancedscorecard.org/Portals/0/PDF/BalancedPerformance_Article1.pdf).

This assignment uses a grading rubric that can be viewed at the assignment’s drop box. Instructors will be using the rubric to grade the

HCA 610 CLC Assignment Develop a Balanced Scorecard

HCA 610 CLC Assignment Develop a Balanced Scorecard

assignment; therefore, students should review the rubric prior to beginning the assignment to become familiar with the assignment criteria and expectations for successful completion of the assignment.

balanced scorecard is a strategy performance management tool – a well structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.[1]

 

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The phrase ‘balanced scorecard’ primarily refers to a performance management report used by a management team, and typically this team is focused on managing the implementation of a strategy or operational activities – in a recent survey[1] 62% of respondents reported using Balanced Scorecard for strategy implementation management, 48% for operational management. Balanced Scorecard is also used by individuals to track personal performance, but this is uncommon – only 17% of respondents in the survey using Balanced Scorecard in this way, however it is clear from the same survey that a larger proportion (about 30%) use corporate Balanced Scorecard elements to inform personal goal setting and incentive calculations.

The critical characteristics that define a Balanced Scorecard are:[2]

  • its focus on the strategic agenda of the organization/coalition concerned;
  • a focused set of measurements to monitor performance against objectives;
  • a mix of financial and non-financial data items (originally divided into four “perspectives” – Financial, Customer, Internal Process, and Learning & Growth); and,
  • a portfolio of initiatives designed to impact performance of the measures/objectives.[3] this is just for information

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