Reference no: EM132300653
Developing a Balanced Scorecard
As the Learning Exercise states, you are the business manager who has been tasked with researching the financial viability of opening a satellite clinic. Identify which things you should measure to determine if you open the satellite clinic.
Create a slide presentation (15 slides including title and reference slides) that addresses the following:
1. Identify 10-15 financial and nonfinancial metrics used to assess the viability of opening a satellite clinic. From this list, select three financial and three nonfinancial metrics that are the most important and explain their significance (net revenue, demographics, customer relations). Where will you find, and how will you gather, the identified metrics you need to develop your assessment? Be sure to identify each metric as external or internal.
2. Provide a description for each selected metric (total of six descriptions). Depending on the data provided, how can each metric affect the plans for the new clinic? Assuming the satellite clinic will open, how will you set up a monitoring and adjustment program? List the required steps. Why is a monitoring, evaluating, and adjusting strategy essential to overall organizational success for the new clinic? Provide two possible events that a successful monitoring program could identify and what adjustments could apply.
Learning Exercise
You are the business manager of a fifteen-physician group practice in family medicine that at a recent strategic planning retreat agreed to open a satellite clinic on the periphery of its current market area in order to increase the number of families that it serves. The clinic will be located in an area of somewhat older, rundown homes that seems to be undergoing slow but steady gentrification. The clinic initially will be staffed by three physicians and has a maximum capacity of ten doctors. One of your responsibilities under the strategic plan to create the clinic is to establish a modest program for keeping track of the factors and variables that might affect the success of the clinic. To get started, prepare a list of ten to fifteen financial and nonfinancial metrics that you propose to monitor, including the sources you will use to gather the necessary data. For each one of the metrics, indicate the directions in which they might change and the adjustments in the plan for the new clinic that would be necessary.