本文是留学生财务assignment范例，题目是“Balanced Scorecard in Strategy Formulation（战略制定中的平衡计分卡）”，大多数组织在评估其业务活动的性能时只关注财务指标(如ROI和营业收入)。然而，它们只是对上一阶段所发生的事情的直接和“短期”的度量，并没有指示未来的绩效，也没有告知组织在下一阶段如何改进绩效。此外，财务度量是“操作性度量”，来源于临时或自底向上的过程，与组织的任何战略目标或目标都没有关系。此外，随着引入新的目标和倡议，这些旧的措施可能不再相关或足够。
Abstract 摘要
Most organizations focus solely on financial metrics (such as ROI and operating income) when evaluating the performance of its business activities. However, they are simply direct and ‘short-term’ measures on what has happened in the last period, and are not indicating future performance, nor informing how the organization can improve performance in the next period. In addition, financial measures are ‘operational measures’ derived from ad hoc or bottom up processes, which are not related to any of the organization’s strategic goals or objectives. Furthermore, with the introduction of new goals and initiatives, these old measures may no longer be relevant or sufficient.
Besides, there is disconnection between strategies and the projects that are supposed to execute these strategies. One of the main issues when selecting projects to be executed as part of the organization's portfolio is whether the project is aligned to the organization's strategic objectives. If this is not the case, there is a high probability that the organization and its stakeholders will not get a proper return on their investments. It is a common issue that there are no systematic processes in place to implement and obtain feedback on organizational strategies, as well as tools to supplement the traditional financial measures with criteria that measure performance from broader and non-financial measures.
此外，战略和执行这些战略的项目之间存在脱节。当选择项目作为组织投资组合的一部分来执行时，主要的问题之一是项目是否与组织的战略目标相一致。如果不是这样，那么组织及其利益相关者很有可能无法从他们的投资中获得适当的回报。一个常见的问题是，没有系统的程序来执行和获得关于组织战略的反馈，也没有工具来补充传统的财务衡量标准，以从更广泛的和非财务衡量标准来衡量业绩。
1.Overview of BSC BSC概述
According to Kaplan & Norton (2007), the balanced scorecard (BSC) supplemented the traditional financial measures with criteria that measure performance from three additional perspectives – those of customers, internal business process, and learning and growth (p.2). It enables the company to track financial results while also monitoring progress in building capabilities and acquiring assets needed for future growth.
根据Kaplan & Norton(2007)，平衡计分卡(BSC)补充了传统的财务衡量标准，从三个额外的角度衡量绩效-那些客户，内部业务流程，和学习和成长(p.2)。它使公司能够跟踪财务结果，同时也监测建设能力和收购未来增长所需资产的进展。
As mentioned by Kaplan & Norton (2007), BSC relies on four processes to bine short-term activities to long-term objectives which include translating the vision by coming to agreement on metrics use to operationalize the visions (p.2), communicating and linking vision by bringing high-level strategic goals to lower-level units and tying these financial and customer targets to individual performance and compensation (p.8), planning business by integrating strategic planning, budgeting and resource allocation processes (p.10), as well as fostering feedback and learning by periodic performance review to learn about and improve strategies (p.13).
2.BSC in Strategic Performance Management战略绩效管理中的平衡计分卡
BSC is also considered as a strategic performance management tool which is used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions (The Balanced Scorecard, 2011). It provides a linkage between inputs such as financial and human resources, processes and outcomes, and it focuses on the importance in managing these component projects to achieve the organization’s strategic goals.
平衡计分卡也被认为是一种战略性的绩效管理工具，管理者使用它来跟踪员工在其控制范围内的活动的执行情况，并监测这些行动所产生的后果(平衡计分卡，2011)。它提供了财务和人力资源、过程和结果等输入之间的联系，并着重于管理这些组成项目以实现组织的战略目标的重要性。
According to Toledo (2011), the BSC method of design is based on having a set of strategic objectives plotted on a strategic linkage model from which measures are selected. The strategic objectives are distributed across four measurement perspectives to form a visual presentation of strategy and measurements including financial, internal processes, customer, and learning and growth. These measurement perspectives may vary in order to fit the organizational needs, and senior management will select and prioritize a few strategic objectives within each of these perspectives so that individual units can align their goals with these objectives.
3.Strategy Formulation Process战略制定过程
Strategy formulation is a continuous and systematic process for making decisions about an organization’s future, developing necessary procedures and operations to achieve that future, and determining how success is measured. It is a systematic process through which the organization agrees and builds commitments among stakeholders to prioritize which are essential to its vision and mission and to be responsive to the ever-changing environment (Marjan, 2009, p.2). Put it in a simple word, strategy formulation is the process of determining appropriate courses of actions for achieving organizational objectives and purposes.
战略制定是一个持续的、系统的过程，用于制定有关组织未来的决策，开发必要的程序和操作以实现未来，并决定如何衡量成功。这是一个系统的过程，通过这个过程，组织在利益相关者之间达成一致并建立承诺，以确定对其愿景和使命至关重要的优先次序，并对不断变化的环境做出反应(Marjan, 2009, p.2)。简而言之，战略制定是为实现组织目标和目的而确定适当的行动路线的过程。
There are three key phases in strategy formulation – diagnosis, formulation and implementation. In my experience, the diagnosis phase is to carry out internal situation analysis such as identifying the organization’s current mission and vision, analyzing its strength and weakness, and also external situation analysis to identify opportunities, challenges and its competitors in the market. Strategy formulation phase focuses on coming up with a set of clear recommendations and supplying strategies for accomplishing the missions and objectives.
4.Balanced Scorecard in Strategy Formulation战略制定中的平衡计分卡
BSC provides a comprehensive view of the organization’s performance which allows organization to attain a more balanced measure in addition to financial perspective. As mentioned above, disconnection between strategy formulation and implementation is a central issue in most organizations. BSC is a tool that bridges the gap as it assists the organization to manage its performance through organizational objectives that linked to the strategic goals and objectives. From my reading and personal experience, BSC allows three critical success factors for strategy formulation and implementation be identified:
平衡计分卡提供了一个全面的组织的绩效视图，使组织获得一个更平衡的措施除了财务角度。如上所述，战略制定和执行之间的脱节是大多数组织的中心问题。平衡计分卡是一种弥合差距的工具，它帮助组织通过与战略目标和目标相联系的组织目标来管理其绩效。根据我的阅读和个人经验，平衡计分卡让我确定了战略制定和实施的三个关键成功因素。
5.Strategic feedback system and facilitates strategic review战略反馈系统，促进战略回顾
Instead of using periodic meetings to evaluate past performances as the traditional financial review process does, scorecard users review the feedback in a way to gain a better understanding of if the strategy is being reached, how is it being reached, and should the strategy be modified based on new information. This gives the organization a forward focus.
而不是使用周期会议来评估过去的表现作为传统金融审查程序,审查计分卡用户反馈的方式获得更好的理解如果策略是被达到,是如何被达到,策略应该基于新的信息修改。这为组织提供了一个向前的重点。
6.Develop Project Portfolio Management (PPM) with Balanced Scorecard利用平衡计分卡发展项目组合管理
Our hospital has recently developed a new strategic plan for the nursing department, with three strategic goals: (1) develop a competent nursing workforce, (2) improve nursing quality and health outcomes, and (3) optimize technology in nursing. However, it is a challenging task in translating the strategic initiatives into a feasible endeavor, for instance, a portfolio of programs and projects that fulfills the expected objectives of the strategic goals. Moreover, there is also a lack of communication between nursing leaders and the nursing teams to disseminate the new strategic initiatives.
我院最近制定了新的护理部战略规划，提出了三个战略目标:(1)建设一支高素质的护理队伍;(2)提高护理质量和健康效果;(3)优化护理技术。然而，将战略计划转化为可行的努力是一项具有挑战性的任务，例如，实现战略目标的预期目标的计划和项目的组合。此外，护理领导和护理团队之间也缺乏沟通，以传播新的战略举措。
The BSC can be a useful tool in bridging the gap between PPM and the strategic plan. Given the hospital’s mission, vision, values and strategic initiatives, we can know how do we need to perform financially to achieve our mission and values (financial perspective), how do we need to meet the needs and expectations from our patients and physicians (customer perspective), at which clinical and healthcare delivery processes should we excel (internal business processes), and what type of culture, tools, skills and technology do we need to incorporate to support our goals and processes (learning and growth perspective).
Before introducing BSC to the hospital, the first step is to clearly communicate the strategic goals to every nursing unit (including PICU, Oncology, Emergency Room, etc) to get their commitment and consensus to the strategies. Afterwards, each unit should develop their BSCs by translating the strategies into its own BSC. By reviewing BSCs from each individual nursing unit, it allows the senior leadership to identify if refinements are needed for the strategic visions. Then each unit will start initiating and executing programs and projects that align with the four perspectives under the BSC and evaluate the performance based on the BSC with proper processes including project selection and prioritization.
The Balanced Scorecard (BSC) is not only a performance measurement tool, it is also a useful tool in strategy management. It bridges the gap between strategy formulation and implementation by supplementing the traditional financial measures with criteria that measure performance from three additional perspectives – those of customers, internal business process, and learning and growth. More importantly, it facilitates feedback to current strategies and provides opportunities for improvement. It is hoped that by introducing BSC to my workplace, there will be better alignment between the portfolio of nursing programs and projects with the new strategic plan.
平衡计分卡不仅是一种绩效衡量工具，也是一种有用的战略管理工具。它弥补了战略制定和实施之间的差距，通过补充传统的财务衡量标准，从三个额外的角度衡量绩效——那些客户，内部业务流程，和学习和成长。更重要的是，它促进了对当前战略的反馈，并提供了改进的机会。我希望通过将平衡计分卡引入我的工作场所，能够更好地将护理项目组合与新的战略计划结合起来。
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