The balanced scorecard (BSC), which was first introduced by Kaplan and Norton in 1992 has been gradually adopted by health care organizations (HCOs) as a tool to drive performance (Kaplan & Norton, 1992). This balanced approach takes into account the multiple variables that determine an HCOs success without placing a greater emphasis on any one variable.
Complete the following for this assignment:
- Write a paper evaluating the value of the balanced scorecard as a tool for assessing and improving organizational performance in a health care organization.
- Discuss the concept of balancing performance across the BSC components to achieve the health care organizations mission and strategic objectives.
- After your review of the literature, indicate whether you agree with this approach. Explain your response.