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 HCO’s 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 organization’s mission and strategic objectives.
After your review of the literature, indicate whether you agree with this approach. Explain your response.
Note: Use APA style to cite at least 5 scholarly sources from the last 5 years.
Kaplan, R. S., & Norton, D. (1992). The balanced scorecard: Measures that drive performance. Harvard Business Review, 70(1). 71–79. Retrieved from https://hbr.org/2005/07/the-balanced-scorecard-measures-that-drive-performance