Strategic Plann - Balanced Scorecard

Mar 14th, 2014
Business & Finance
Price: $40 USD

Question description

BUS 475 Week 4 Individual assignment Strategic Plan, Part III Balanced Scorecard

Resource: Exhibit 7-1 in Ch. 7 of Strategic Management

Develop the strategic objectives for your business in the format of a balanced scorecard. 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 SWOTT analysis. Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:

Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:

  1. Market share
  2. Revenues and costs
  3. Profitability
  4. Competitive position

Customer Value Perspective, includes strategic objectives in areas such as:

  1. Customer retention or turnover
  2. Customer satisfaction
  3. Customer value

Process or Internal Operations Perspective, includes strategic objectives in areas such as:

  1. Measure of process performance
  2. Productivity or productivity improvement
  3. Operations metrics

Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:

  1. Employee satisfaction
  2. Employee turnover or retention
  3. Level of organizational capability
  4. Nature of organizational culture or climate
  5. Technological innovation

Develop at least two  strategic objectives for each of the following four balanced scorecard  areas identified above (Financial, Customer, Process, Learning and  Growth). Your objectives should be selected, in part, based on an  evaluation of a number of potential alternatives to the issues and/or  opportunities identified in the SWOTT Analysis paper and table you  completed in Week Three. Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and  mitigation plans, and a stakeholder analysis that includes mitigation  and contingency strategies. You should also incorporate the ethical  implications of your solutions into your selection.

For each strategic  objective, develop a metric and target using a balanced scorecard  format. (For 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.)

Write a 700- to  1,050-word summary that explains your critical thinking on how you  derived your objectives from your vision, mission, values, and SWOTT  analysis.

Format paper consistent with APA guidelines

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School: University of Virginia

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Mar 20th, 2014
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