Balance Scorecard of Great Persons Inc.

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Abstract

Great Persons Inc. is a non-profit organisation and it is a little bit difficult to analyse its balanced scorecard. Moreover, there is a lack of research material on this subject. However, this analysis tries to find records and analyse them with the tool of balanced scorecard. There are four aspects of a balance scorecard, namely, financial, customer perspective, perspective of internal business and perspective of innovation as well learning. Great Persons Inc. is a non-profit organization established in 1957 and this organization was established to provide services that would meet the necessity of the local community. Initially, GPI was started working with other organizations. Now, a balance scorecard refers to a tool to measure the strategic performance of the company to keep track of the performances of the workforce and the consequences of the actions of the employees. Gradually it will be shown that GPI provides excellent services for the development of the community. Their balance scorecard provides the information that it is a well organized non-profit organization and works with several funding agencies. However, there are some areas in which the organisation may improve, such as speed of service and internal relationships amongst the employees.

Table of Contents

Introduction. 4

Discussion. 4

Conclusion. 8

References. 9

Introduction

Great Persons Inc. is a non-profit organization established in 1957 and this organization was established to provide services that would meet the necessity of the local community. Initially, GPI was started working with other organizations. Now, a balance scorecard refers to a tool to measure the strategic performance of the company to keep track of the performances of the workforce and the consequences of the actions of the employees. The balance scorecards keep the records of the past and help the organization in future decision making. This report aims to analyse the balance scorecard of GPI.

Discussion

This discussion aims to analyse the balance scorecards of the organisation Great Persons Inc. Many corporates started using balance scorecards in 1990’s as a tool for strategic management (Bohm et al., 2021). The use of balance scorecards is gaining popularity in assessing a company’s performance as well as in future decision making. There being quite low availability of research-based evidence. Being a non-profit organisation, it is quite difficult to keep the balance scorecards of GPI. However, some attempts were made to keep the balanced scorecards of this organization. At first, the concept of balance scorecard should be cleared. A balance scorecard is a tool that measures the strategic performance of any organization to keep track of the performances of the employees and this tool also helps the management of the company to take future decisions (Kaufman et al., 2021). There are four main aspects of a balanced scorecard. They are growth with learning, internal process, the customer as well as a financial process. In this report, all these four aspects of GPI would be analysed.

Figure 1: Balance Scorecard of Great Persons Inc.

Source: (Hansen & Schaltegger, 2018)

Financial Aspect

Goals: This Company, Great Persons Inc., has established to provide services to the community. They initially started working with other agencies. However, gradually they expanded their endeavour and designed their internal programmes such as health equipment, residential services to disabled people. The service of family support to the families having disabled children, transportation service for disabled adults and children, coordination as well as consultation with the agencies that are affiliated and many such programmes for children and their families. The equipment includes oxygen equipment, walkers and hospital beds and so on. GPI provides residential services to mentally challenged persons. This organization provides transport services to disabled persons and hence the drivers of this service are required to have training in first aid and CPR. These drivers should have excellent track records in the past. Moreover, this organization provides residential services to disabled people. GPI has several skill development programmes for disabled persons.

Measures: There are a huge set of programmes of GPI and for providing such programmes for the community as well as for sustainability. The organisation, Great Persons Inc., needs a huge fund. Several funding agencies work. 67% of revenue comes from the State Funding agencies and 12% of the revenue is provided by State and Federal Grants. Contracted services and consumer fees provide 6% with each. Donations account for 4% of the total revenue. Rental income is 3% and the funding from the local governments is 2% of the total revenue. 1% of the revenue comes in a united way. The revenue of the organization is 19 million dollars. The expenditure is 18.9 million dollars. This organization is a non-profit organization and hence can not earn profit. They have to depend on the funding agencies for sustainability (Hansen & Schaltegger 2018).

Figure 2: Aspects of balance scorecard

Source: (Kaufman et al., 2021)

Customer Perspective

Goals: Great Persons Inc. is established to provide services to the development of the community. Their target clients are mainly persons with some kind of disabilities. Moreover, they supply medical equipment to the healthcare sector. Moreover, they designed several programmes for skill development for disabled persons. They provide residential services to disabled people, the service of family support to the families having disabled children, transportation service for disabled adults and children, information as well as referral service, coordination as well as consultation with the agencies that are affiliated and many such programmes for children and their families.

Measures: Initially they started working with some local agencies. However, gradually they formulated their internal programmes. They expanded their services to supply hospital equipment and extended help to mentally as well as physically disabled persons. They hire excellent drivers for transportation services to disabled persons. They get support from several Government bodies and also get donations to provide such services.

Internal Business Perspective

Great Persons Inc. is a non-profit organization and there is no perspective of business as such. They depend on several organizations Government as well as non-government for the fund. They get revenue from these organizations as well as from donations. They provide services for community development. Their programmes include health equipment, residential services to disabled people, the service of family support to the families having disabled children, transportation service for disabled adults and children, information as well as referral service, coordination as well as consultation with the agencies that are affiliated and many such programmes for children and their families.

Innovation and learning perspective

Goal: They provide services for community development. Their area of service is much broad, such as health equipment, residential services to disabled people, the service of family support to the families having disabled children, transportation service for disabled adults and children, information as well as referral service, coordination as well as consultation with the agencies that are affiliated and many such programmes for children and their families. They learn from the skill development programmes and take many innovative measures for the execution of such programmes.

Measures: Great Persons Inc. adopts many skill development programmes for disabled persons and for this purpose they train up their employees. These employees are well trained. Moreover, for transportation services they hire well-trained drivers who have excellent skills as well as track records.

Conclusion

It is evident from the above analysis that the non-profit organization Great Persons Inc. provides excellent services for the development of the community. Their balance scorecard provides the information that it is a well organized non-profit organization and works with several funding agencies. However, there are some areas in which the organization may improve, such as speed of service and internal relationships amongst the employees.

References

Bohm, V., Lacaille, D., Spencer, N., & Barber, C. E. (2021). Scoping review of balanced scorecards for use in healthcare settings: development and implementation. BMJ Open Quality, 10(3), e001293. DOI: http://dx.doi.org/10.1136/bmjoq-2020-001293

Hansen, E. G., &Schaltegger, S. (2018). Sustainability balanced scorecards and their architectures: irrelevant or misunderstood?.Journal of Business Ethics, 150(4), 937-952. Retrieved from: https://link.springer.com/article/10.1007/s10551-017-3531-5

Kaufman, B. E., Barry, M., Wilkinson, A., & Gomez, R. (2021). Alternative balanced scorecards built from paradigm models in strategic HRM and employment/industrial relations and used to measure the state of employment relations and HR system performance across US workplaces. Human Resource Management Journal, 31(1), 65-92. DOI: https://doi.org/10.1111/1748-8583.12271

Kim, S. K. A. (2020). Advanced Mathematical Business Strategy Formulation Design. Mathematics, 8(10), 1642. DOI: https://doi.org/10.3390/math8101642

Tourani, N. (2022). Thriving in a shifting landscape: Role of social media in support of business strategy. Asia Pacific Management Review. DOI: https://doi.org/10.1016/j.apmrv.2021.11.001