The Competitiveness and Balanced Scorecard of Health Care Companies

Inese Mavlutova, Santa Babauska

Abstract


Purpose - To do the research of competitiveness, balanced scorecard theoretical aspects, to indicate how balanced scorecard concept can increase competitiveness of private health care companies in Latvia.
Design/methodology/approach - Research methodology includes the analysis of theoretical background and two survey data about private health care companies in Latvia.
Findings - Globally recognized is the balanced scorecard concept. Latvian health care companies are not using in evaluation all of the main indicators influencing the company’s competitiveness and they do not group them into four perspectives of balanced scorecard for analyzing health care companies, as well as by evaluating the factors which are significant for patients in choosing the health care company. Price level, quality of health care services and the company’s images in Latvia are significant factors that can influence the health care company’s competitiveness not only in the local markets, but in global ones as well.
Originality/value - The paper combines the research of competitiveness and balanced scorecard. Competition on value is crucial for health care companies, because they have to take into account the immaterial value - patient’s health.

Keywords


Balanced Scorecard; Competitiveness; Research; Health Care Companies; Patients` Perspective; Synergy

Full Text:

PDF

References


Barney, J. B. (2007), Gaining an Sustainable Competitive Advantage, Pearson Prentice Hall, USA.

Blokdijk, G. (2008), Balanced Scorecard 100 Success Secret, Australia.

Brown, G.M. (2007), Beyond the Balanced Scorecard, Productivity Press, USA.

Caune, J., Dzedons, A. (2009), Strategic Management // Stratēģiskā vadīšana, 2nd ed., Lidojošā zivs, Riga.

Damodaran, A. (2001), Corporate Finance Theory and Practice, 2nd ed., John Wiley & Sons, New York.

Glen, A. (2008),Corporate Financial Management, 4th ed., Financial times, Prentice Hall, Harlow.

Hamel, G., Prahalad, C. K. (1994), Competing for the Future, Library of Congress Cataloguing, USA.

Jones, P. (2010), “A Balanced Scorecard to Drive Growth through Synergy: The application of Strategy Mapping in an International group of companies”, Excitant Ltd., available at: http://www.excitant.co.uk/wp-content/uploads/2012/07/Excitant_CS_-InternationalTechnologyCompany.

pdf (accessed May 2013).

Kaplan, R. S., Norton, D. P. (2004), Strategy Maps: Converting Intangible Assets Into Tangible Outcome, Harvard Business School Publishing, Boston.

Kaplan, R.S., Norton, D.P. (2006), Alignment. Using the Balanced Scorecard to Create Synergies, Harvard Business Review, USA.

Kaplan R.S, Norton D.P. (1992), “The Balanced Scorecard - Measures that drive performance”, Harvard Business Review, 1992 Jan/Feb, pp.71-79.

Mavlutova, I., Babauska, S. (2012), “Latvian Health Care Company Competitiveness Determining Indicators and their Improvement Possibilities”, Latgale National Economy research, Rezekne, RA Izdevnieciba, Journal of Social Sciences, Vol.1(4) 2012, pp. 234-250.

Niven, R.P. (2005), Balanced Scorecard diagnostics: Maintaining Maximum Performance, John Wiley & Sons.

Phadtare, Milind, T. (2011), Strategic Management: Concepts and Cases. PHILearning Private Limited, New Delhi.

Porter, M. E. (1998), Competitive Strategy: Techniques for Analyzing Industries and Competitors, The Free Press, New York.

Porter, M. E., Teisberg, E.O. (2011), “Redefining Health Care: Creating Value – Based Competition on Results”, Institute for Strategy and Competitiveness, available at: http://www.hbs.edu/rhc/problem.html (accessed November 2013).

Porter, M. E., Teisberg, E. O. (2006), Redefining Health Care: Creating Value – Based Competition on Results, Harvard Business School Press, Boston.

Prahalad, C. K., Ramaswamy, Venkartram. (2004), The Future Competition: Co-creating Unique Value with Customers, Harvard Business School Publishing, Boston.

Rohm, H. (2008), “Using the Balanced Scorecard to Align Your Organization. Balanced Scorecard Institute, a Strategy Management Group”, available at: http://www.balancedscorecard.org/LinkClick.aspx?fileticket=1Uq6fsxJyaY%3d&tabid=56 (accessed December 2012).

Stern Stewart & Co. (2012), Economic Value Added, available at: http://www.sternstewart.com/?content=

proprietary&p=eva (accessed January 2012).

Swayne, L. E., Duncan, J. W., Ginter, P. M. (2006), Strategic Management of Health Care Organizations, Blackwell Publishing Ltd., Oxford.

Central Statistical Bureau of Latvia (2012), “The Basic Indicators of Health Carin Latvia at the End of the Year”, available at: http://data.csb.gov.lv/Dialog /varval.asp?ma=VA0010&

ti=VAG01%2E+VESEL%CEBAS+APR%DBPES+PAMATR%C2D%CET%C2JI+

GADA+BEIG%C2S&path (accessed November 2013).

The World Economic Forum (2012), “The Global Competitiveness Report 2011-2012”, available at: http://www3.weforum.org/docs/WEF_GCR_Report_2011-12.pdf (accessed June 2013).

Value Based Management.net (2011), “Resources Perspective. Resource Based View of the Firm”, available at: http://www.valuebasedmanagement.net/methods_barney_resource_based_view_firm.html (accessed September 2013).

Van Horne, J., Vachowicz, J. (2005), Fundamentals of Financial Management, 12th edition, Prentice Hall Inc., USA.

Vause, B. (2005), Guide to Analyzing Companies, 4th Edition, Profile Books.




DOI: http://dx.doi.org/10.17951/ijsr.2013.2.1-2.131
Data publikacji: 2013-07-14 00:00:00
Data złożenia artykułu: 2015-07-18 03:53:21

Refbacks

  • There are currently no refbacks.


Copyright (c) 2015 Inese Mavlutova, Santa Babauska

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.