The Balanced Scorecard & the Financial Perspective Essay

The Balanced Scorecard & the Financial Perspective - Essay Example In today’s time whether it be a for-profit-organization or a not-for-profit organization, has to develop various strategic business models in order to manage and sustain their organization. Similarly, the rehabilitation centre got into strategic planning long ago. There had been various consultants who provided counseling to the centre on implementation of proper strategic business models for the smooth functioning of the organization. The centre tried to adapt these strategic business model based on the inputs provided by various consultants but the implementation of such models were very difficult for the centre since they were into rendering different types of services and these services were done not for profit. The management was unable to push down the strategic plan to the lower levels, from where it has to be started, hence the centre couldn’t never avail the desired outcomes. After years of pushing and pulling into the implementation of strategic business model s, the management finally appointed a Director of strategic planning, who in turn after thorough scanning and exploration of various levels of strategic planning process decided to utilize the concept of Balanced Scorecard. The main objective of implementation was to align each area within the center itself with the overall strategic plan. This concept was similar to breaking down of big activities into smaller parts so that even difficult task can be completed in time (Kazmi, 2002). The mission and vision statement of the organization was to become â€Å"a leader in providing and assessing desired services to people with disabilities†. The implementation of Balance scorecard was difficult at initial stages but as the top level management understood the importance and effectiveness of Balance scorecard, implementation became bit easier at later stages though the outcome measurement for many areas remained a difficult task as the customers at the center are people with develop mental disabilities. Analysis The main purpose of a balance scorecard is that it helps an organization to adhere to it mission and vision statement while aligning all its activities to one direction. A Balance Scorecard has four perspectives namely the learning and growth perspective, internal business process perspective, customer perspective and the financial perspective. Based on these four perspectives it can be viewed the organization from these four broad perspectives. The four perspective of the Cattaraugus County rehabilitation Centre has been discussed below: Customer Perspective: In the customer perspective the main goal is to amend the quality of services provided to the customer by the center. It has again two aspects to it, first, by providing better services through narrowing down the gap of unfulfilled services like allowing various supports to families of the individuals with disabilities, by improving the access facilities to customer for the services etc. Secondly, by giving the families and individual maximum independence and recognition for e.g. by providing various opportunities to the individuals in their community, helping them to develop various skill like sustaining relationships, developing various skills in them, providing them with opportunities to work , by working on plans based on the feedback provided by the customers etc. Financial perspective: The main objective of any organization is maximize profit through increased