Vanguard and BSC and Shouldice Hospital

BSC (Shouldice Hospital)

· People sent to hotels rather than hospitals (surgery)

· Name plate of doctors and nurses at the door of patients

· Train parents to take care of the baby

· ICU - $1700 per day reduced by increasing no of doctors and nurses

· Only patients corrected or died were considered in the list

· Stay days reduced from 7.9 (1996) days to 6.1 days (2000)

· Cut cost which are not adding value

· Parts of BSC – Customer, Process, Finance, Learning / Innovation / Training

· Financial and non financial matrix – BSC + EVA + ABC (For both internal and external customers; looks at both short term and long term matrix)

· Cause and effect relationship in BSC

· Finance is result / effect of customer being served well

· Process – Core competency, process is needed to serve customer needs

· ABC – Activity based costing (Lean and efficient process) – Activity performed by people that consume cost

Vanguard

· Staff development - Rigorous training of employees from day 1

· Website designed to educate customer and not meant for selling

· Investors / clients own the organization

· Ship – Logo – Every investor is a crew member

· VOC (Voice of customer) – Call centre – What they want, what they think better

· Segmented the market based on attitudes and preferences and used demographics to position (like Cofidis)