Measurement And Decision Making Presentation

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Question Description

Your Unit 4 Part 2 of the Case Study will be the beginning point for your PowerPoint presentation. Begin with a brief introduction on the Introductory Slide. Then, using your Unit 4 Case Study assignment as the basis, build a PowerPoint Presentation that discusses all required components of the Unit 4 Case Paper. Please view the Word Document for the Unit 5 Case Project Assignment’s full instructions here.

Be sure to review the NEW REQUIREMENT FOR THE PRESENTATION; (discussed in the attachment)

Please use the attachment as a guide.

Attached is the paper that goes along with this paper. This should be referenced.

Running head: MEASUREMENT AND DECISION MAKING Measurement and Decision Making Derrick Newkirk Purdue Global Measurement and Decision Making 2 Abstract The balanced scorecard (BSC) is one of the most applied strategic planning and management models used by organization to enhance effective business decision-making processes and improve business performance. This paper details the application of BSC by Sigmatech as a strategic planning as well as a management system to improve on business and management processes. The organization’s application of the BSC model is meant to communicate what Sigmatech has been trying to accomplish since it was founded in 1986. The BSC model is also meant to align the daily activities of the organization with the core strategies. The organization’s application of BSC would also enhance the prioritization of its key projects, services, and products. In addition, BSC would make it more possible for Sigmatech to measure and monitor the progress of all its business and management processes to ensure they are in line with the respective strategic targets. Typically, the paper shows how the BSC system would connect the company’s big picture strategic elements such as vision, mission, focus, and core values to its more operational aspects like goals, measures, and objectives. Measurement and Decision Making 3 Introduction The BSC is significant action plan for any organization in implementing strategies since it helps translate the vision and strategic goals of an organization into key measureable performance indicators. The indicators depict the financial performance of the organization in relation to other firms in the industry. The organization, Sigmatech, is service-based. It provides multiple services to the United States Department of Defense. Employees constitute the key assets of the organization. It’s BSC is the backbone of its strategy and ensures that all are moving toward the same goals and the vision of total customer satisfaction. The BSC concept corporates both mission and vision statement into a powerful strategy as seen through the customers, with the federal government being its main customer base. Sigmatech is dependent on the federal government. Sigmatech needs to diversify its operations. Sigmatech needs to expand its capability into new areas such as sustainability consulting among other areas. Balanced Scorecard Framework The BSC framework and all related concepts as well as its application can translate the vision and strategic goals of an organization into various measureable performance indicators. The performance indicators provide the framework for implementing strategy. The BSC balances financial and non-financial performance. The four measureable indicators are financial, customer, internal processes, and the organization’s learning and growth. These performance indicators depict a rough picture of the organization in terms of its financial performance and its ability to meet the set goals and objectives. BSC provides a complete analysis of the organization that financial data alone cannot provide. The BSC allows the organization to not only track financial results but monitor the Measurement and Decision Making 4 organization’s financial progress. An important BSC element is to match strategically all measureable indicators to the strategic goals and vision of the organization (Blocher, Stout, Juras & Cokins, 2012). Balanced Scorecard Application The industry in which the company operates provides a number of different service to the US Department of Defense. Doing business with the Department of Defense is a highly competitive service in the market. Founded in the 1980s, Sigmatech is estimated to be worth 400 million. Sigmatech has 250 employees. The headquarters for Sigmatech is located in Huntsville, Al with additional offices in Colorado Springs, Arlington, VA and Aberdeen MD. Sigmatech is poised for continued growth through its long-term contracts with the federal government. One of the most treasured assets of the company is its employees. The company is constantly striving to have low turnover rates but maintain a high retention rate. When linking the organization to BSC, the BSC depicts a continuous connection between the operational strategies and the goals (Sigmatech, 2014). This aspect is shown in figure 1 below. Figure 1: A Balanced Scorecard for Sigmatech Measurement and Decision Making 5 SIGMATECH BALANCED SCORECARD VISION GOALS 0BJECTIVES MEASURES FOCUS ON TOTAL CUSTOMER SATISFACTION EXPANDED AND REPEAT BUSINESS FROM SATISFIED CUSTOMERS SUCCESS FROM COMMITMENT QUALITY FIRST Satisfy Customer Requirements and Deliver Best Value Services. Use Performance Metrics to Drive Best Business Practices. Optimize the Mix of Military and Civilian Workforce. Ensure Everyone is Working Toward the Vision. CUSTOMER: Improve Customer Satisfaction. Encourage Creativity. FINANCIAL: Reduce Cost to the Customer. Deliver Cost Effective Services. Customer Satisfaction. On-time Delivery. Competitive Billing Rates. Total Cost. Unit Cost. Operating Cost. Milestones are Met. INTERNAL: Deliver Competitive Services. Develop a Quality Focused Culture. Accuate Delivery of Services. Innovative Business Practices. Lean 6 Sigma. DEDICATED HIGHLY SKILLED TALENT Equip Workforce to Ensure High Quality Skill Sets. GROWING AND LEARNING: Enchance Employee Competence. Increase Employee Satisfaction. Develop a Learning Environment. Retain and Recruit Skilled Talent. Employee Satisfaction. Employee Retention. Quality Metrics. Measurement and Decision Making 6 Sigmatech’s BSC is the backbone of its strategy and ensure that all are moving toward the same goals and the vision of total customer satisfaction. The BSC is a strategic measurement and management tool. The BSC concept corporates the vision and mission statemenst into a powerful strategy, whose success is replicated in its success. Balance is typically achieved through the translation of the strategy (Blocher et al., 2012; Sigmatech, 2014). The mission of the organization is to provide weapon systems, information technology, system engineering, and technical assistance and interactive multimedia instructions and training to governments and industry clients. Its vision is to focus on customer satisfaction. Sigmatech’s BCS translates its mission, vision, and strategic goals into measurable performance indicators. Sigmatech has strategically aligned the measurable indicators with its mission statement, vision statement, and its strategic goals. Sigmatech follows a differentiation strategy. Sigmatech’s greatest assets it is employees. The employee’s skill sets are distinctive. Sigmatech has the ability to attract and retain talented employees. They are also able to provide the employees with continuous education and skill levels to meet employee satisfaction. Therefore, they have a cause and effect relationship in their internal business process, which leads to customer satisfaction. This reveals clear signs of differentiation strategy. This strategy has allowed Sigmatech to succeed and be able to charge competitive rates for its services. From its financial perspective in its BSC, Sigmatech has been able to charge competitive rates and achieve operating income through it differentiation strategy. A focus on customer satisfaction results in improvements (Blocher et al., 2012). Sigmatech is succeeding with its customers and it measures revealing leading indicators of superior financial performance. In Table 3, Sigmatech’s strategic map is the framework that shows its relationship among the perspectives of the BSC. Sigmatech has linked the BSC to its Measurement and Decision Making 7 daily business operations. The strategic map is the roadmap to achieve efficiency, and effectiveness in service delivery while at the same time enhance customer satisfaction (Blocher et al., 2012; Sigmatech, 2014). Figure 2: Sigmatech Strategic Map TOTAL CUSTOMER SATISFACTION IMPROVE CUSTOMER SATISFACTION CUSTOMER FINANCIAL IMPLEMENT SUPPORT STRATEGIES AND TOOLS ENCOURAGE CREATIVY REDUCE COST TO CUSTOMER IMPROVE QUALITY INTERNAL GROWTH AND LEARNING DEVELOP A LEARNING ENVIRONMENT RETAIN AND RECRUIT HIGHLY SKILLED TALENT ENHANCE EMPLOYEE COMPETENCE DELIVER COMPETITIVE SERVICES INCREASE EMPLOYEE SATISFACTION Measurement and Decision Making 8 Cost Analysis and Sustainability Within Sigmatech, the significant costs to its organization is external failure cost through the cost of losing customers. Losing customers is a final blow to Sigmatech. Customers will leave when they are not completely satisfied. Customers have a choice. When customers leave, it is a blow to the future profits. The importance of total customer satisfaction has become increasing apparent. To create a high customer satisfaction rate through customer loyalty is an important element of long-term financial performance. Satisfying customers requires an investment. If Sigmatech does not keep customers satisfied, customers will be lured away by Sigmatech’s competitors. Sigmatech can enhance its customer loyalty by creating customer value through building relationship. A commitment to customer satisfaction means creating long-term relationships by providing a service that continues to meet the customers’ needs and expectations (Churchill & Halpern, 2011). Sigmatech’s commitment is to ensure customer satisfaction. Sigmatech has applied cost and financial growth based on sustainable performance. The concept of sustainability is discussed in connection to costs, BSC, and the strategic map. There are several questions embedded in Sigmatech’s strategies that is mandatory to have social and environmental indicators within the BSC and the strategic map. Sigmatech’s sustainability strategy in connection with cost, BSC, and the strategic map answer the following questions: • What is the financial impact of total customer satisfaction? • How do we meet the meet the needs of our customers? • How do we learn and grow as an organization? Measurement and Decision Making • 9 How does environmental and social performance indicators impact our decision making process in connection with total customer satisfaction? (Caraiani et al., 2012). As a player in the industry, Sigmatech is constantly monitoring its current operations to determine the desired levels of profit and long-term strategic planning. The Cost Volume Profit (CVP) relationship is helpful in the decision making process and long-term strategic planning. The Break Even Point is used along with the CVP to determine minimum production levels in order to avoid losses. To illustrate this, Sigmatech has won a bid on a contract with the Missile Defense Agency perform accounting tasks in order to meet audit readiness, Table 4. Sigmatech must hire an entry level Accountant to meet the requirements. Hiring and meeting the requirements will lead to additional new profit-oriented clients from respective customers within the DoD. The contract will be 800 hours at an average billing rate of $57.00. The requirement will require 1,000 hours of expected hours (Blocher et al., 2012). Measurement and Decision Making 10 Figure 3: Cost Volume Profit Analysis The results in figure 3 reveal, the average billing rate at a breakeven rate of about $71,400 would be $71,400/1,000 = $71 an hour. The key to Sigmatech’s bidding strategy was the ability to add 800 hours of other businesses based on prevailing billing rate of $57 every hour. The estimate of 800 hours of new business leaves a margin of safety of zero hours (MOS = 800 hours – 800 hours = 0 hours). This contact is an important win for Sigmatech. Sigmatech’s BSC, strategic map, cost analysis, mission and vision statement are the perspectives whereby, the organization maintains total customer satisfaction. Enhanced customer satisfaction is a motivation that Sigmatech uses to develop, grow its people, and maintain profitability. Measurement and Decision Making 11 Conclusion Sigmatech competes with other players in the service industry where it provides its services to the Department of Defense. The nature of the industry and competitors make the market highly competitive. As such, Sigmatech has to differentiate itself from a variety of contractors. Contractors who provide a service to DoD face pressure in providing competitive rates for services. Under the current economic conditions, with a shrinking federal budget, the pressure to maintain competitive rates for services remain extremely high. Sigmatech’s greatest strength is its workforce. The vast majority of the workforce have impressive resumes and have military ties. As the US continues to engage in multiple military conflicts, there will continue to be a requirement to support various efforts. The organizations that can provide a service at a competitive rate will continue to thrive, as they support the soldiers. The key weakness of Sigmatech is the shrinking federal budgets. The shrinking federal budgets is a realty. Less money available to spend on service based contracts will cause an increase in competition as the opportunities for contracts decreases (Sigmatech, 2014). Sigmatech is a service-based company whose main customer is the government and it is thus dependent on the government for its success. In this regard, Sigmatech needs to diversify on its operations. The organization should expand its capability into new areas like sustainability consulting. There has been an increase in the demand for expert advice in sustainability consulting. Businesses and governmental agencies need to develop sustainable business practices to minimize their environmental footprint but also increase profits. Sustainability consultants help organizations reach and maintain their sustainability goals (De Schriive, 2013; Sigmatech, 2014). Measurement and Decision Making 12 References Blocher, E., Stout, D., Juras, P. & Cokins, G. (2012). Cost management: A strategic emphasis 6th edition. New York: McGraw Hill. Churchill, C., & Halpern, S. (2011). Building customer loyalty. Retrieved from United States Agency for International Development (USAID) web site: http://centerforfinancialinclusionblog.files.wordpress.com/2011/10/building-customerloyalty.pdf Caraiani, C., Lungu, C., Dascalu, C., Cimpoeru, M., & Dinu, M. (2012). Social and environmental performance indicators. African Journal of Business Management, Vol. 6(14), 4990-4997. De Schriiver, A. (2013). What is sustainability consultant? Demand Media. Retrieved from Demand Media web site: http://work.chron.
GB519: Measurement and Decision Making Unit 5 Assignment Case Study Part 3: Details and Rubric Turn in Part 3 of the case study at the end of Unit 5. The third and final part of the case study is due at the end of Unit 5. Part 2 of the Case Study is a PowerPoint presentation with voiceover recording. The Voiceover will be the narrative you would be presenting as if this were a live presentation. You will, in essence, be making a presentation to the Board of Directors of your organization. Your Unit 4 - Part 2 of the Case Study will be the starting point for your PowerPoint presentation. But, the Presentation will include an ADDITIONAL segment not required in the Case Paper. If you have not submitted the Unit 4 – Case Study Part 2 assignment, you will not be eligible to submit the Unit 5 – Case Study Part 3. Like the Unit 4- Case Study Part 2 – your PPT Presentation should:        Be based on the Unit Reading and additional articles Begin with a brief review of the organization. Keep in mind that the members of the board may or may not have read the report you completed in Parts 1 of the Project. Even though this will be a brief presentation, it should include all essential information and data. Identify significant costs in your organization. Include a section devoted to Cost-Volume-Profit Analysis (CVP). Discuss budgeting considerations. Include the organization’s budget process, the organization’s budget variances and discuss management decisions related to budgeting. Present a balanced scorecard, incorporating all four of the organizational dimensions (financial, customer, internal business, and learning and growth). Create a “Strategy Map” for your organization. NEW REQUIREMENT FOR THE PRESENTATION: Next, incorporate a discussion of “Global Interconnectedness” as it applies to your organization. Use the textbook and the additional article readings as a basis for analysis. For example, how do global economic pressures impact your organization? Are there any direct or indirect international competitors? If so, how is that competition managed? Discuss any heuristic implications or biases based on Global Interconnectedness. Finally, end with a summary review (A formal “Conclusion” slide is required) of the performance evaluation. What are the key strengths and weaknesses of the organization? What changes would you recommend be made to the current organizational strategy? Additional content could include: A discussion of any potential biases that could potentially impact the outcome of the decision-making process related to the continued success of the organization. The Power Point presentation should include 12 to 14 slides. The first slide must be a Title Slide, and the Final Slide must be your Reference List. The audio presentation (voiceover) should be 15 to 20 minutes long. In addition to recording the Voiceover, the text of your Voiceover must be written into the “Notes” section of each slide. Proper Grammar and spelling will be an important part of the assignment. So, be sure to perform a “Spell Check”. Important Note: One of the most important techniques to use in any PowerPoint presentation is to create clean, crisp slides that use a minimal number of “bullet points”. If the slide is too cluttered, the presentation suffers. Therefore, the “Notes” section underneath each slide should be the place where all of the topics in that slide are thoroughly developed. Do not add the body of your presentation to the slides. Only incorporate the main “talking points”, then use the Notes section to add all of the body, thereby creating a more professional and robust presentation. GB519: Measurement and Decision Making Unit 5 Assignment After you have completed the case study, upload your PowerPoint presentation to the Unit 5 Case Study Dropbox before 11:59p.m. (ET), on Tuesday of Unit 5. Name your assignment filename using this format: LastName_FirstName_Unit#_AssignmentName. For example, this Assignment will be named: Smith_Joan_Unit05_Assignment_CaseStudy2. Assignments submitted late will be subject to the Late Policy described in your Syllabus. The Unit 5 Assignment Rubric has been provided below. The rubrics are an integral part of all assignment instructions. Please review the rubric document for a complete understanding of how your assignments will be assessed. Doing so will help you successfully complete your assignments. GB519 Unit 5 Assignment Grading Rubric Category/Description Points Possible Part (1) Title & Reference slides. 3 Part (2) Organization Introduction 3 Part 3) Organizational Costs 3 Part (4) CVP Analysis 3 Part (5) Budget Issues 3 Part (6) Balanced Scorecard 3 Part (7) Strategy Map 3 Part (8) Global Interconnectedness (New Content) • How do global economic pressures impact your organization? 6 • Describe any direct or indirect international competitors. 6 • How is that competition managed? 6 • Relate how global interconnectedness affects the choice of 3 valuation methodologies in management decision-making process 6 Points Earned Instructor Additional Comments (If necessary) GB519: Measurement and Decision Making Part (9) Conclusion 3 Part (10) 12 to 14 slides 2 Part (11) Voice over = 15 to 20 minutes 10 Subtotal 60 Critical Thinking/Format/Grammar/Spelling 5 Slides crisp – uses bullet points, uncluttered 5 All text for Voice Over included in “Notes” 5 Preliminary Final Score 75 Deduction for Late Policy if applicable per syllabus * Final Score 75 Unit 5 Assignment

Tutor Answer

Professor_Markins
School: New York University

Attached.

Measurement And
Decision Making
Student’s name
Unit Number
Assignment Name

Review







Provides services to U.S defense department

Employees are key assets
BSC is backbone of its strategies
Dependent on federal government

Needs to diversify its operations.
Federal government is its main customer.

Significant Costs in the Organization


...

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Anonymous
Thanks, good work

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