Strategic Plan Part III

User Generated

ynpvr24pbhefba

Writing

Description

Purpose of Assignment

Students will have the opportunity to develop a Balanced Scorecard. This, in turn, will allow them to create effective strategic objectives to be included as part of their overall strategic plan. They will also be presented with the task of creating a brief communication plan that will be used by their proposed division to efficiently distribute information with regard to their strategic initiatives.

Assignment Steps

Resources: Strategic Planning Outline and Week 4 textbook readings

Create a minimum 1,050-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 SWOTT 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 SWOTT Analysis assignment 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 including the following:

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

Develop a specific 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 including the following:

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

Format your assignment consistent with APA guidelines.


****I HAVE ATTACHED MY PART 1 AND PART 2 ASSIGNMENTS AS THEY ALL HAVE TO BE ON THE SAME TOPIC*****

Unformatted Attachment Preview

Running Head: HEALTH ANALYSIS 1 Strategic Plan Part II Lacie Courson University of Phoenix HEALTH ANALYSIS 2 SWOTT TABLE Factor Strength Weakness Opportunity Threat Trend Industrial There is an There is Companies There will be a There would Changes increase in increased engaging in decrease in changes in the provision pollution in democratizatio profits. illness trends of insurance the n of data can Individuals in the society. coverage. atmosphere, help increase will get into which affect the speed of paying for the health. research and quality and not cut down on quantity. the cost of research. Legal and There will Opening of Public and regulatory be an the relative private insurers organizations great improvemen performance are challenged work on variation in t in the to the society to meet stated reducing the the methods quality of is very low costs hence and levels affecting the involved in profits to be the made. production of goals. service. The There is a goods and services. Global Maternal Facilitation There will be a The There might HEALTH ANALYSIS 3 health of network wide range of establishment be the experienced coalescence job of institutions establishment great has become opportunities. to that will of political success. a great offer a coalitions. challenge collective due to the action. members failing to agree on a single identity. Economic There is a Poor health Non-profit There is an The process significant has been a hospitals attain increased risk of reduction of major an opportunity of cyber- reimbursing cost and problem to share an attack. insurances increased leading to an investment in will become quality of increase in economic more health care. mortality development. challenging. rate. Technological There will Integration Tele health and Occurrence of There is the be an of the system telemedicine medical errors cloud increased would are gradually resulted in the computing patient’s become a being used to patients losing technology HEALTH ANALYSIS 4 safety citing major facilitate trust in the that has the increase challenge. patients company. fastened to in the quality training and patients of care being health care. response to offered. certain signals. Innovation There is There are There are There is a Ease of data increased limited various threat from the collection to provision of number opportunities EU regulatory influence higher value professional that result in environment healthy living care. personnel the reduction that facilitates in the society. that can help in the health the innovation in premiums and process. determining costs. the medical efficacy. Social There is the Great There is an There is the Offers help in generation challenge is opportunity to introduction of the creation of new experienced shape consternation of awareness knowledge din capturing individual’s in the medical in the case of leading to an the dynamics lives and field citing the a crisis in the increase of of the health improve the profound lack society. the adoption care system. professional of HEALTH ANALYSIS 5 of environments. innovations. confidentiality in the field. Environmenta Information Most of the The websites There is a The l can be used experiments offer chances threat of partnerships in are being for proper underfunding get to determining done over an planning of of research increase from the cause of extended meetings and regarding not only errors and period of study areas. biodiversity. patients but offer help in time limiting also families the the and other designing of effectiveness stakeholders. systems. of the research. Competitive It influences The Provides for Different Health Analysis greatly on competition the reduction marketing facilities will the diverse has been so of positions have be in a relational high hence; ineffectiveness been left position to perspectives many are in the society hanging and retain their in the opting for unattended to. potential new society. consolidatio clients in n to addition to withstand offering the various HEALTH ANALYSIS 6 challenge. n choices for the current clients. Internal Factors Strategy There would Broadening There is great Communicatio Post-acute sustainable access to opportunity n mobile care receives services hospitals has offered for devices are greater being caused a conveying probe to attention. experienced reduction in performance infection citing in the the specialist targets. the regular different care being upgrading of health care offered in the operating services. the wide system. range of hospitals. Structure The The control It offers an Complex The rates at structures of opportunity for technology which the are expenditure the might interfere consolidation manifested is not being combination of with the s will be in diverse well Therapeutic smooth growth ironed out ways controlled. Homes of the network. will rise to a making the Services with different HEALTH ANALYSIS 7 whole the possible process innovative much easy. networks. level. Process and The There is a Through the Threats to There will be systems providers, limitation in processes, the network an increased patients, and terms of the narrow security citing rate of the payers organizing networks have the multiple patients across the principles. found devices that is engaging society themselves to in use. with the subscribe to being more the prevalent. professionals. continuum of care. Resources Most of the The health There is the networks policies tend development of threat of losing care sector is contribute to to fail diverse information experiencing the raising of leading to opportunities when replacing diverse resources. the that resulted in the resources changes in withdrawal the collection containing the the skillset. of attention of diverse patients’ from the network centric information. human resources. resources. There is a The health HEALTH ANALYSIS Goals 8 There are The several health care There is the Political There will be professionals creation of stability might great changes might be frameworks serve as a in the access points weak in their that allow for threat to organizationa in the field and the sharing of achievement of l culture. society, may lack the resources the goals. making the enough within the achievement experience. community. s of the goals much easy. Strategic There were Attaining the There is a wide Most There will be Capabilities partnerships detailed range of professionals a rise in the that strategies opportunities are adopting disruptions increased on was a major allowing for their tools for and the challenge. increase in use rather than innovations community membership the facility’s regarding the power hence and growth. devices care model. increased capabilities. Culture Resilience The Creation of There is a great The was difference in opportunities threat in consumers excellently training that result in accessing the are HEALTH ANALYSIS 9 practiced in levels was a the building of appropriate progressively the society weakness teams becomes health care and redefining experienced frequent. technologies in health in the the society. society. in the establishmen t of a consistent culture in the health sector. Intellectual Management Navigation It offers of There is a There will be Property is much without opportunity for probability of an increased easier citing professional the fruits of ransomware in rate at which the valuation becomes a innovation to the case of the the valuable methods major be realized and payments not products will being problem enjoyed in the being done in be launched similar. citing then society. time. into the intellectual market. property rights. Leadership There is There is a There are There is a There will be proper great offered threat of increased running of variation in opportunities phishing diligence in sector citing the mode of on how one attacks being succession HEALTH ANALYSIS 10 the effective behavior in can improve training the society their leadership being done affecting the skills in the in the leadership. society. society. experienced. planning. Running head: MISSION AND VISION STATEMENT 1 Mission And Vision Statement Of A Company Lacie Courson University of Phoenix OF A COMPANY MISSION AND VISION STATEMENT OF A COMPANY ​ 2 Introduction. A company must have employees for it to run and function as intended. Much as this is a necessity, there are other crucial factors beyond selling products and hiring employees. Any running business needs a vision statement, mission statement, insight, and direction. These factors will help in streamlining operations more so guiding employees into operating within set boundaries. With mission and vision statements, the stakeholders and management will also be in a position to monitor the company. Coming up with rules and regulations will see the company achieve their mission and vision (Orhan, Erdoğan & Durmaz, 2014). A mission statement focuses on showing the competitive advantage, directions, and purpose of a company; Vision statement acts as an inspiration that motivates the company’s employees into following and adhering to core dreams and values of a company. Mission Statement Currently, I work with Nelly’s Insurance Company which is an insurance company for people with disabilities. The mission of the company is to promote and uphold excellence in humanity through people living with disabilities and participate in research and educational developments in creating awareness and improving the world of disabled persons. Much as the company operates more as a charity insurance company, the mission still helps them at the current time and their future success. The mission statement is clear and concise and explains the purpose, competitive advantage and the primary direction of the company (Orhan, Erdoğan & Durmaz, 2014). The company works to ensure that there is affordable family-friend-community experience with excellent customer care services. The well-trained and mission-driven MISSION AND VISION STATEMENT OF A COMPANY ​ 3 professionals provide these services. They work to ensure that disabled persons and their families get empowered through insurance cover and secondary loans as the primary services (Costa & Ramus, 2013). This mission has been of importance for the company since it has streamlined the way the company operates and it is the pillar where the company’s objectives and core values stand. It acts as the direction and guideline for the stakeholders who are the company’s employees, customers, management, and the shareholders. It has been an aspiration that has helped the company to propel forward and establish itself space in a competitive market by using it as a competitive advantage factor. The mission statement brings the employees into a virtual streamline where they are supposed to measure their milestone and how much the company has achieved so far. The mission statement of any company should be concise and well stated to define the company’s direction in which the employees should follow (Orhan, Erdoğan & Durmaz, 2014). With Nelly’s Insurance Company, the employees are absorbed into the company and required to work under the mission of the company since the success of the company means their success. Vision Statement Vision statement always goes hand in hand with the mission statement, and they are used to describe the purpose of a company. It brings into reality the current position of a company and their predicted future regarding goals and motives. This vision statement helps the company by motivating their employees. Nelly’s Insurance Company is excellent insurance and a financial institution that works to attain the goals of people living with disabilities. The vision of the company is to provide physically challenged persons and their immediate families with excellent MISSION AND VISION STATEMENT OF A COMPANY ​ 4 customer experience into being financially independent (Costa & Ramus, 2013). We at Nelly’s Insurance Company works to ensure that each and all the concerned parties have their living standards uplifted so that they remain valued and their dignity upheld. The vision statement has been the key to helping the company regarding how it operates through the provision of inspiration and information it gives to new and old employees of the company. It works as a reminder and boundaries under what the employees should be operating on. Through vision, employees will get to know and stay on track with company’s core values. Motivated employees will always give their best efforts, and as such, they will always invest their time and energy in making sure that the company succeeds (Costa & Ramus, 2013). Nelly Insurance Company works to ensure that employees work with the defined vision statement of the company. This aspect is of the essence in that it will help in designing and attaining future necessities of the company. The employees get motivated by providing excellent services to the company and the customers, and this will assist in achieving continued services and being competitive in the market (Bergeron, 2014). Effects of Mission and Vision Statement’s There is a pool of impact in which the company’s mission and vision statement bring about. These factors are determined and dictated by how strong, clear and concise the mission statement of a company is and how much does a company work towards achieving it. Employees will then be motivated into describing strategic plans their core values to stakeholders. The employees of Nelly’s Insurance Company will work to ensure that the mission and vision of the company will help in working with their strategic plan so that they meet the overall set goals. MISSION AND VISION STATEMENT OF A COMPANY ​ 5 The vision statement has always been the motivational factor to the employees of Nelly’s Insurance Company into achieving the company strategic plans and set goals. They act as the boundaries in which the employees should work within and also as a guiding factor in the direction in which individuals should take (Bergeron, 2014). Conclusion A company will remain active, competitive and operational if the employees, shareholder, and management work under the mission and mission statement. These will ensure that all concerned parties of the company work towards set goals, with the backbone being to give the customers the best possible service and the company remain outstanding. Mission statement streamlines purpose and measurements of employees’ effectiveness and while vision inspires them to work within the thresholds set by the mission statement. They depend on each other. MISSION AND VISION STATEMENT OF A COMPANY ​ 6 References. Bergeron, M. (2014). The Infinitely Small: A Mission, a Passion, a Vision for the 21st Century. ​Canadian Journal Of Infectious Diseases​, ​10​(suppl c), 2C-3C. http://dx.doi.org/10.1155/1999/923980 Orhan, G., Erdoğan, D., & Durmaz, V. (2014). Adopting Mission and Vision Statements by Employees: The Case of TAV Airports. ​Procedia - Social And Behavioral Sciences​, ​150​, 251-262. ​http://dx.doi.org/10.1016/j.sbspro.2014.09.051 Costa, E., & Ramus, T. (2010). Mission, Strategies and Performance Evaluation in Nonprofit Organisations From a Stakeholder Management Approach. ​SSRN Electronic Journal​. http://dx.doi.org/10.2139/ssrn.1655655
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

here is t...


Anonymous
Great study resource, helped me a lot.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags