Strategic Plan Part III: Balanced Scorecard and Communication Plan

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zneyn1821

Business Finance

Description

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.

Unformatted Attachment Preview

Company Balanced Scorecard Financial Metrics Financial Objective Type Measures Targets Supporting Initiatives Q1 Q2 Q3 Q4 Annual Analysis Customer Metrics Customer Objective Type Measures Targets Supporting Initiatives Q1 Q2 Q3 Q4 Annual Analysis Internal Business Process Metrics Internal Objective Type Measures Targets Supporting Initiatives Q1 Q2 Q3 Q4 Annual Analysis Learning and Growth Metrics Learning Objective Type Measures Targets Supporting Initiatives Q1 Q2 Q3 Q4 Annual Analysis Objective Type Revenue growth and mix Cost reduction/productivity Asset utilization Market performance Objective Type Market share Customer acquisition Customer retention Customer profitability Objective Type Innovation Operations Post-sales service Objective Type Employee retention Employee satisfaction Employee productivity
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Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan
Your Name
BUS/475
Prof. Juan Salazar
Date

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan
Introduction
In the contemporary business world, companies are continuously creating a competitive
edge to remain at the top of their respective industries (Marcus, 2011). Google Inc. is no exception.
As business globalization expands, Google must become innovative and pursue other avenues to
stay competitive in the industry. For it to remain relevant, it must formulate and implement
effective strategies to attain their goals. With the creation of a new division program known as the
Upmost Convenience, Google has developed a balanced scorecard that will align the
measurements of the strategic management performance within the division (Marcus, 2011). This
will permit communication between the new division and the existing units while at the same time
staying in line with the mission and vision of Google.
The Balanced Scorecard
A balanced scorecard is a strategic management and planning tool that is used by
companies to communicate what they are trying to achieve, align the daily activities with the
strategy, and evaluate and monitor the progress towards the strategic goals (Keyes, 2011). The
balanced scorecard of the new division will be categorized into four different perspectives that
include shareholder value, customer value, internal operations, and learning and growth. The
shareholder value discusses the growth of revenue and productivity. The customer value entails
the customer value creation and what will motivate the customers to buy the Google Pen. This
section involves customer satisfaction, retention, and acquisition of new customers in the given
market segment (Keyes, 2011). The internal operations will measure the existing resources and
determine how the quality of the product will be improved. Lastly, the learning and growth
perspective intends to concentrate on the human and technological structure required to make sure

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan

that the execution of the strategies accomplishes the targeted goals (Keyes, 2011). The balanced
scored for Upmost Convenience that will guide Google achieve the short and long-term goals.
Shareholder Value or Financial Perspective
The balanced scorecard for the Upmost Convenience illustrates the shareholder/financial
value. The objective of Google introducing the Google Pen is to focus on revenues and costs,
market share and the competitive edge. It aims to increase the revenue and decrease the cost as
demonstrated in the Return on Investment Capital. Google anticipates experiencing growth of 3%,
6%, and 9% in the first, second, and third year respectively. For it...


Anonymous
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