04 March 2008
CIMA (the Chartered Institute of Management Accountants) and the HfMA (Healthcare Financial Management Association) have formed a development partnership in order to promote and implement the CIMA Strategic Scorecard' within the UK National Health Service (NHS).
In recent years, there has been a growing tide of opinion that organisations, in both the public and private sectors, need to focus more on strategic issues. However, NHS boards have become increasingly swamped by government initiatives and policy compliance, which can push strategy down the agenda. The CIMA Strategic Scorecard' is a business tool developed to help all boards address their individual strategic issues and provide structure and processes to deal with them effectively. This partnership will help rebalance the focus towards strategy in the NHS.
Charles Tilley, Chief Executive at CIMA, says:
'I'm delighted to be working with the HfMA to further promote the CIMA Strategic Scorecard' to the NHS. Effective strategy is key to driving success and a board's primary focus should be to create value, in this case to benefit patients and other vital stakeholders within the NHS. The CIMA Strategic Scorecard' provides a process for all the aspects of strategy to be discussed, reviewed and monitored by boards and the scorecard's framework can be easily adapted to suit any organisational structure.'
Mark Knight, Chief Executive at the HfMA, further comments:
'HfMA is delighted to be involved in this important initiative with CIMA. Our experience from working in the Service tells us that that Boards need to concentrate their efforts on the strategic issues that affect their organisation. This programme offers them a format to enable them to do that in a structured and focused way.'
The CIMA Strategic Scorecard' is four-dimensional and focuses on an organisation's Strategic Position, Strategic Options, Strategic Implementation and Strategic Risks. It has been designed to allow boards an overview of their organisations' strategic processes and to provide information in a consistent and summarised format that assists them in identifying key points at which they need to take decisions.
Promotional activities will be rolled out by the HfMA and CIMA throughout 2008.
ENDS
For further information, please contact:
Katie Scott-Kurti
Senior Press Officer, CIMA
+44 (0) 20 8849 2347
Katie.Scott-Kurti@cimaglobal.com
Alison Myles
Learning and Development Director, HFMA
+44 (0) 1380 830 395
Notes to editors
1. For more details of the CIMA Strategic Scorecard', visit www.cimaglobal.com/strategicscorecard.
2. CIMA (the Chartered Institute of Management Accountants) is the only international accountancy body with a sole focus on business. It is a world leading professional institute that offers an internationally recognised qualification in management accountancy, focusing on accounting in business in both the private and public sectors. It is the voice of 164,000 students and members in 161 countries. CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy. For more information about CIMA, please visit http://www.cimaglobal.com/.
CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which evolves continually to reflect the latest developments in global business. CIMA has been awarded superbrand status in the UK for a second year in a row this year and for the first time in Sri Lanka.
3. Charles Tilley, Chief Executive at CIMA, was appointed as non-executive director at Great Ormond Street Hospital in August 2007.
4. The Healthcare Financial Management Association (HFMA) is the representative body for healthcare finance staff, with its members working predominantly in the NHS. Its role is to support and promote the highest professional standards in financial management and corporate governance in healthcare.
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