Performance Improvement and Management in Health and Social Care

Performance improvement and
management in health and social
care

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Strategic planning model.............................................................................................................3
TASK 2............................................................................................................................................6
a. Usefulness of DuPont analysis................................................................................................6
b. Ratio analysis..........................................................................................................................8
TASK 3..........................................................................................................................................10
Critically evaluating the use of multi- dimensional and non- financial models of the
performance management.........................................................................................................10
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Performance improvement and management is useful in attaining the better performance
and growth associated with the underlying business problem within the health care. This study is
also critically evaluate the benefits and limitations related with the strategic planning model with
appropriate set of recommendation for the business growth. Furthermore, this study also
evaluates the various ratios using the financial statements of the company. This study will
highlight on the critically evaluating the use of multi- dimensional models and and non- financial
models associated with the performance management. BME Luxury Care Home is considered to
be as a registered business within the England which assist in providing person centred care
services to the people within a home like environment.
TASK 1
Strategic planning model
There are various types of strategic planning tools that can be implemented by the
organization for the purpose of business growth and expansion in care sector in England. The
two most widely used methods are stated below.
Benchmarking
This is the most popular strategic tool which are being utilized by the organization for the
purpose of evaluating their performance with the other business organization in the industry. It
takes into consideration products, processes for the comparison and the comparison is done with
the companies which is best in the industry (Horseman, 018). Under this, certain type of standard
is set based on which the performance is evaluated. These standards are known as benchmarking.
It is mainly used for gaining competitive insight and is also useful in collecting relevant
information based on the performance. There are two types of benchmarking, which are, internal
benchmarking, external benchmarking. In internal benchmarking, the comparison is carried out
among the teams and individuals within the same organization. External benchmarking refers to
the process of comparison of the business performance with other company peers.
Advantages:
Implementing creative ideas: The benchmarking helps the business entity in finding out
the key features and after finding it, the organization can compare the same with its competitors.
In case there is any gap and filling is required, then the management starts implementing certain
creative ideas for reducing the gap.

Increased competitions: While doing business, there are times when business faces tough
competition and that competition provides assistance to the company in maintaining its position
in an effective way in terms of its success rate. Therefore, benchmarking helps in increasing the
healthy competition.
Developing improvements: Benchmarking is basically a comparison which helps in
identifying the areas of improvement in the various business activities (Ramón, Ruiz and Sirvent,
2018). This helps the company in developing those improvements for the growth of the
company.
Identifies essential activities: The major advantage of benchmarking is that it helps in
identifying their own essential business activities which can help in improving the organizational
profits. Thus, benchmarking is very crucial for all business organizations which helps in
delivering value effectively.
Increased performance: Since, the benchmarking identifies all the important and
relevant features and essentials of the organization along with the needs and wants. This assists
the management in increasing the performance level.
Disadvantages:
Stabilized standards: After finding out the areas of improvement, the organizations
incorporates ideas with the aim of improving their productivity and this leads to stabilizing their
standards in respect to only one aspect irrespective of its course of action.
Insufficient information: There are times when businesses use different techniques for
gathering the information which leads to insufficient information about the organization which
may lead to tremendous losses to the business.
Increased dependency: Companies think that benchmarking helps in improving their
company position but one thing that companies forget that compared company has been at top
because of their hard work. Therefore, the company is highly dependent upon the other company
for implementing strategies that made that company successful.
Key performance indicators
KPIs is the performance measuring tool that helps the management in effectively
monitoring and tracking the progress and growth of the company (Kylili, Fokaides and Jimenez,
2016). It highlights the areas where the task or activity requires improvement. Under this,
realistic and achievable goals are being set which makes it easy for the employees to achieve it.