Performance Improvement and Management in Health & Social Care

PERFORMANCE IMPROVEMENT
AND MANAGEMENT IN HEALTH
& SOCIAL CARE

Table of Contents
INTRODUCTION...........................................................................................................................1
QUESTION 1...................................................................................................................................1
Advantages and disadvantages of strategic planning models.....................................................1
Strategic planning models...........................................................................................................1
1.Balanced scorecard Planning : ................................................................................................1
2.Gap Planning:...........................................................................................................................3
QUESTION 2...................................................................................................................................5
Usefulness of the financial Ratio for the shareholders and explain the financial ratios.............5
B) Interpretation of following ratio.............................................................................................8
C) Residual Income before and after the investment..................................................................9
D) Benefit of Economic Value Added (EVA) concept ............................................................10
QUESTION 3.................................................................................................................................11
Critically evaluation of non-financial and multidimensional performance management model
...................................................................................................................................................11
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Performance improvement in the health care sector is very necessary, it is the systematic
and continuous action that leads to improvement on health. Care Tech Holding Plc is founded in
1993, having the principal activity of specialist caring and physical disabilities it has the support
services in the whole UK (Kearney, 2018). This report elaborates the advantages and
disadvantages of strategic planning models according to the care sector in England. Two models
which the report illustrate are balanced score card planning and Gap planning. This report
explains the various ratios and also did the comparison with the industry average and explains
the usefulness of this ratios.
QUESTION 1
Advantages and disadvantages of strategic planning models
Memorandum
To: accounting head
CC: Mr. John
From: Karen Moore
Date: May 09, 2019
Subject: best strategic planning model
Respected,
The strategic planning models play a major role in organisation to gain long term success.
And it provides direction to accounting team and describes the method that needs to be
implemented in order to make effective strategic plan (Augustyn, Elshaer and Akamavi, 2019).
Company is facing the issue of improper financial management. It is required to pay attention on
effectiveness of various strategic planning models so that proper decision can be taken by firm
that may support in growth of organisation.
1.Balanced scorecard Planning:
It’s a framework of strategic management and its main objective is to reach high level
organisation goals. It helps to understand the objectives of care tech holding strategically. It
includes key which can give growth to the organisation. The balance scorecard is made with the
help of excel, PowerPoint, google sheets or with the help of any reporting software (Atieh and
et.al., 2016).

Advantages of Balanced scorecards planning
 It gives structure to your strategy: It is a good source to make a framework which is
powerful for building communication strategy for care tech holding. It helps to identify
complete structure of strategy and it give pressure to manager of care tech holding to
think about any cause and effects of organisation (Eaidgah and et.al., 2016).
 It makes it easy to communicate strategy: With the help of balance score card
managers can coordinate strategies internally and externally to stakeholders effectively
(Bhat, Gijo and Jnanesh, 2016).
 Improve performance in reporting:
Balanced scorecard is a framework of care tech holdings which tells about the performance of
organisation behaviour. And the transparency need of Care tech holding can be met if the
manager of the organisation create sensible report so that they can communicate performance
both internally and externally (Pulakos and et.al., 2015). And it helps organisation to find out
what to report.
Disadvantages of Balance scorecard planning
 It can be difficult to keep everyone on the same page:
As we know many company make their scorecard on PowerPoint and excel but it can create an
accuracy problem and because of various format problems. These kind of issues can create delay
in time to create a performance report for the care tech holding organisation (Yawar and Seuring,
2017).
 Time and financial cost investment:
The balance scorecard of care tech holding need investment. As the company manage its system
on time and constantly, which comes with time and financial cost. Before working on excel,
power point all the employees of care tech holding must know how to operate these software's,
which actually increase expenses for employee training. And there are some software which
require monthly maintenance monthly charges.
 Lack of information about external forces:
The balanced scorecard gives more information about the internal factors of care tech holding as
compare to external factors (Kelwade and et.al., 2017). And this may lead to incomplete
submission of information and less record of external factors of care tech holding organisation.
2.Gap Planning: