Strategic Plan Part 3: Balanced Scorecard and Communication Plan, business and finance homework help

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pyb21

Business Finance

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from the planet fitness paper you have done for me


Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.

Identify key trends, assumptions, and risks in the context of your final business model.

Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your business and the outcomes of your SWOT analysis and supply chain analysis.

Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:

  • Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as:
    • Market share
    • Revenues and costs
    • Profitability
    • Competitive position
  • Customer Value Perspective, which includes strategic objectives in areas such as:
    • Customer retention or turnover
    • Customer satisfaction
    • Customer value
  • Process or Internal Operations Perspective, which includes strategic objectives in areas such as:
    • Measure of process performance
    • Productivity or productivity improvement
    • Operations metrics
    • Impact of change on the organization
  • Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as:
    • Employee satisfaction
    • Employee turnover or retention
    • Level of organizational capability
    • Nature of organizational culture or climate
    • Technological innovation

Evaluate potential alternatives to the issues and/or opportunities identified in the SWOT Analysis paper and table you completed in Week 3.

Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions that includes the following:

  • Identify potential risks and mitigation plans
  • Analyze a stakeholder and include mitigation and contingency strategies.
  • Incorporate ethical implications

Develop a metric and target for each strategic objective using a balanced scorecard format.

  • Example: a strategic objective in the shareholder or financial perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, "The percentage of increase in market share." The target is the specific number to be achieved in a particular time period. The target for the metric of "Increase market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years.)

Outline a brief communication plan discussing how you will communicate the company's strategic objectives that includes the following:

  • Define the purpose.
  • Define the audience.
  • Identify the channel(s) of communication and why you selected that channel.

Format paper consistent with APA guidelines.

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Explanation & Answer

Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!
Attached.

Running Head: COMMUNICATION PLAN AND BALANCED SCORECARD

Strategic Plan and Business Model
Name
Course
Tutor
Date

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COMMUNICATION PLAN AND BALANCED SCORECARD

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Strategic Plan and Business Model
Introduction
Planet Fitness is implementing its new division that will focus on offering education to
clients on how to eat healthy diets. The firm targets population between twenty and sixty years.
Contrary to other businesses that provide fitness services, Planet Fitness is providing a new
specialized product that aims to provide its clients with information on how to live a healthy life.
Nevertheless, before the completion of the new product, a balanced scorecard needs to be
completed. This essay discusses the product balanced card as well as the communication plan.
The Balanced Scorecard
The balanced scorecard will help in further analyzing the strategic objectives and goals of
the new Planet Fitness division. It will be used in the provision of valuable insights concerning
vision, mission, and values of the new division. In essence, a balanced scorecard is a system of
strategic management planning utilized in aligning business practices with the mission and the
company statement (Perkins et al., 2014). In simple terms, it assists the company in the collection
of realistic data which could otherwise be pious or vague. The new division will attempt to align
strategic goals based on the usage of this balanced scorecard. The balanced card will depict the
long-term as well as the short-term objectives of Planet Fitness that are connected directly to the
mission and vision of the firm as well as the SWOT analysis results (Planetfitnes...


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