Applying Balanced Scorecard to Hellenic Navy's Education and Training: An initial approach

Panagiotis Stavrakakis, Pavlos Sarafis, Vasiliki Roka, Maria Malliarou
2010 Global Journal of Health Science  
Like organizations striving for growth, Hellenic Navy is facing rising pressure to increase the value added by its services. To meet this challenge in an era of scarcity of resources Hellenic Navy's education and training will need to undergo fundamental changes in the way they operate and continuously seek ways to create future value. This paper explores and discusses the potential applicability of Balanced Scorecard in Hellenic Navy's education and training in order to stimulate and sustain
more » ... ulate and sustain continuous improvement. Favorable results were reported in the for-profit and government organizations supporting the aforementioned applicability. Strategy and Annual Work Plan Kaplan & Norton (1996a) suggest that the scorecard can provide a bridge between an organization's strategy and the annual work plan. Based on this, it is assumed that when focusing in the initiatives that contribute to strategy, then initiatives can be prioritized. Also, Kaplan & Norton (2001b:352) note that this is a particular challenge for non-profit organizations as the decision-making and planning process generate more initiatives than can be met
doi:10.5539/gjhs.v2n2p192 fatcat:h4knxvvssbdnnmgun4l26q3vrq