Balance Scorecard

No.        TABLE CONTENT

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CHAPTER ONE

1        1.1.What is Balanced Scorecard 1.2.Introduction

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CHAPTER TWO – Banking Industry

2        2.1.Overview of the Literature

2.2.The Balanced Scorecard Framework

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1. CHAPTER THREE – Healthcare Industry

1. CHAPTER FOUR – Insurance Industry

1. CONCLUSION

1. REFERENCES

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Pages

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1

2

3-6

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7-8

9-14

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15

16-17

CHAPTER ONE

What is Balanced Scorecard?

The concept of BSC was the first presented in the 1990s throughout by the Robert Kaplan and David Norton. This concept has become widely known among all around the world. BSC consist a number of different types of that make a combining financial and non-financial measures, subjective vs objective measures, a mix outcome measures vs performance drivers is consider as lagging indicators vs leading indicators, measures that are easy to be quantifiable as averse to the measures that are more difficult to qualify. (Wiersma, 2009, p. 2)

BSC divided into four different perspectives which is learning and growth, internal process, customer, and lastly financial. The measures of learning and growth are the drivers of the internal process. The measures of internal business process are the drivers of customer perspective, while these measures are the drivers of financial measures. (Norreklit, 2000, p. 68)

A Good BSC must have a proper mix outcome measure and performance. If when outcome measures without performance drivers that do not communicate, how does the outcome to be achieved. Other than that, they do not provide the strategy whether being carry out successfully. However, contrary to performance drivers without outcome measures may be able the business unit to achieving the short term operational improvement, but will fail to show out the operational improvement have been interpreted into expanded business with new and existing customers into financial performance. (Kaplan & Norton, 1996, p. 66)