BUS475 Phoenix Week 4 Balanced Scorecard and Communication Plan Paper

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Kgreen0110

Business Finance

BUS475

University of Phoenix

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Strategic Plan Part III: Balanced Scorecard and Communication Plan

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Strategic Plan Part III: Balanced Scorecard and Communication Plan
Mark Barnes
BUS/475
October 16, 2017
Mr. Timothy Harrington

Key trends, assumptions, and risks
In the context of the business model, the key trends facing the Mobile Money Transfer
division is technology. It is notable that one solution in mobile money transfer services has the
capability to shake up the whole industry. The mobile money transfer should capitalize on the
advancements of technology since mobile money is an added-value opportunity for Banks. The
Phoenix Bank can utilize RegTech solutions for the purpose of easing compliance and cutting
fraud. The technology can also reduce the cost of money transfer and attract a large clientele for
Phoenix Bank.
On the other hand, the new Mobile Money Transfer division puts up a number of
assumptions in its strategic model. The division assumes that there is no change in the pricing
strategy over time. Therefore, in mobile money transfer, transactional costs are constant. The
division also assumes that bulk-payments as well as direct transfers lead to more value for the
bank.
Mobile money transfer services introduce different risks to an organization. Due to the
high regulations in the mobile money sector, high demands are placed on the operators to ensure
compliance. Besides, due to the nature of electronic transfers, there is a high possibility for fraud
against subscribers. Other risks include shoulder surfing and theft of personal information. The
bank must, therefore, be prepared to mitigate against those risks.
Strategic objectives (balanced scorecard)
A balanced scorecard represents a strategic planning system essential in the aligning of
business activities with its mission and vision. It ...

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