Strategic Plan Part III: Balanced Scorecard and Communication Plan

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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 will include my papers from weeks 2 and 3, APA format guide, and example of a scorecard.

Strategic Plan Part III: Balanced Scorecard and Communication Plan
score_card_example.png
1 Title of Paper Student Name Course/Number Due Date Faculty Name Detailed expectations for a 300-499 Level Course (remove this line) 2 Title of Paper Triple click your mouse anywhere in this paragraph to replace this text with your introduction. Often the most important paragraph in the entire essay, the introduction grabs the reader's attention—sometimes a difficult task for academic writing. When writing an introduction, some approaches are best avoided. Avoid starting sentences with “The purpose of this essay is . . .” or “In this essay I will . . .” or any similar flat announcement of your intention or topic. Read more: Center for Writing Excellence>Tutorials and Guides>Essay Development>Guidelines for Writing Academic Essays. Level One Heading Replace the level one heading with the words for your heading. The heading must be in bold font. Headings are a necessary part of helping your audience track the sub-topics discussed in the body of the essay or report. Be sure to indent the first line of each paragraph between five and seven spaces by pressing the Tab key one time on the keyboard. In addition, remember to double space the entire paper using the double space functionality in Word. This template is already formatted for double spacing. Read more: Center for Writing Excellence>Tutorials and Guides>Software Tutorials and Guides>Formatting Tutorial for APA. In addition, keep in mind an academic essay should contain at least five paragraphs, which includes the introduction (introductory paragraph), the body (which is generally at least 3 paragraphs), and the conclusion (generally one paragraph). Most well-developed paragraphs contain at least 3-5 sentences, one of which is the topic sentence. Limit each body paragraph to one sub-topic. 3 Level Two Heading Replace the level two heading with the words for your heading. The heading must be in bold font. Conclusion The closing paragraph is designed to bring the reader to your way of thinking if you are writing a persuasive essay, to understand relationships if you are writing a comparison/contrast essay, or simply to value the information you provide in an informational essay. The closing paragraph summarizes the key points from the supporting paragraphs without introducing any new information. 4 References This is a hanging indent. To keep the hanging indent format, triple click your mouse on this line of text and replace the information with your reference entry. You can use the Reference and Citation Examples (Center for Writing Excellence>Tutorials and Guides>Reference and Citation Examples) to help format your source information into a reference entry. The reference page always begins on the top of the next page after the conclusion.
Running head: STRATEGIC PLANNING 1 Strategic Planning Name Institution Date STRATEGIC PLANNING 2 Table of Contents Executive Summary ...................................................................................................................................... 3 Strategic Plan Part 1: New Business Division of Microsoft Corporation ...... Error! Bookmark not defined. Introduction ................................................................................................ Error! Bookmark not defined. Vision ......................................................................................................... Error! Bookmark not defined. Mission....................................................................................................... Error! Bookmark not defined. Value Proposition....................................................................................... Error! Bookmark not defined. Strategic Plan Part 2: SWOTT Analysis ........................................................ Error! Bookmark not defined. Strategic Plan Part 3 ....................................................................................... Error! Bookmark not defined. Assumptions, Risks and Change management plan................................... Error! Bookmark not defined. Summary of Strategic Objectives .............................................................. Error! Bookmark not defined. Conclusion ..................................................................................................... Error! Bookmark not defined. References ..................................................................................................................................................... 9 STRATEGIC PLANNING 3 Executive Summary This paper mainly focuses on outlining the strategic plan of Microsoft Corporation as it plans to form a new division by restructuring the existing platforms and services division so as to improve the existing windows. Microsoft Corporation purposed to ensure that the organization is able to deliver fully equipped software services to their customers; individuals and companies all over the world. Products and services from Microsoft Corporation are widely used all over the world. Most companies depend on Microsoft software to run their operations. Due to changes in consumers tastes and preferences Microsoft windows need to be updated and the operating systems redesigned so as to meet and satisfy all consumer needs. This strategic plan aims at highlighting how this new division will meet the consumer needs and the advantages that come with the invention of this new division. The division should have a clear business model to ensure that the invented brand grows in future. STRATEGIC PLANNING 4 Strategic Plan Part 1: New Business Division of Microsoft Corporation Introduction Microsoft Corporation is an old organization that came into existence back in 1975. This is an American company whose headquarters is in Redmond, Washington. This company was founded by Bill Gates and Paul Allen. This company major in manufacturing computers and computer soft wares and licensing them. They also produce other electronics such as televisions, mobile phones, printers, and laptops. The most common software on sale include; Microsoft Office suite, Internet Explorer, and Edge Web Browser. This company offers service to its customers where they are able to access the windows and store; they can update their windows anytime there is a new update confirmed and access games from Xbox Live. Microsoft Corporation is recognized as the largest company producing software worldwide due to the high revenue the company was able to record in 2016 (Kaplan & Norton, 2011). Vision The vision of this main division is to ensure that the organization maintains its large market share worldwide and still remains to be the company number one in software production in the whole world. The vision is to see that the organization contributes to maintaining a healthy complexion with its competitors in the market (Kapferer, 2012). Mission The mission of this main division is to ensure that all the consumer needs, tastes, and preference are catered for. Due to technological advancements, the organizations should be so keen to notice any changes in the market and new market gaps that need to be addressed (Kaplan STRATEGIC PLANNING 5 & Norton, 2011). For example, the online shopping is a very new trend in the market that needs to be catered for by providing consumers with shopping platforms online. Provide customers with web browsers to be able to access shopping sites. Value Proposition Microsoft Corporation should be able to convince all customers and prospective customers that they are offering the best. If they delay in convincing the customers they will go for alternative options. The company can decide to prepare a written value proposition. This document will clearly outline how the service will solve their problems and the benefits they should expect from it. The service will be a bit cheaper compared to a similar service offered by competitors. Customers will be able to save up some more money to use it for other activities. The services being easily accessible to all people despite their location will also make a very strong first impression to attract more customers. (Kapferer, J. N. 2012) This service will provide a web browser which will ensure quick access to online shopping sites and online advertising sites. All these services will be very cheap and hence affordable for most people. STRATEGIC PLANNING 6 Strategic Plan Part 2: SWOTT Analysis This section focuses on the strengths, weaknesses, opportunities, threats, and trends that come with the implementation of the new division. This new service must have an impact on the business and also outside the business in the market (David, 2011). The new service will ensure delivering software services that promote online business a new updated window will ensure easy access to marketing sites. The company aims at targeting the new growth opportunities in the market. This will be able to bring solutions to the emerging markets. The sellers will be able to create websites to advertise their products. They will have the opportunity to have live platforms where they can interact at a personal level with their customers. The only weakness is that the cost might not be affordable for all people willing to use the service hence not be able to cover the whole target population (Kaplan & Norton, 2011). In the market today in the whole world there are new form factors and new emerging trends. An operating system developed will be responsible for product management. This will be aimed at being the leader to help individuals and business realize their full potential. A possible threat is the possibility of steep or unhealthy competition between Microsoft Corporation and other companies offering substitute goods. In every new day, the technology is evolving creating new opportunities in the market. So far people can place orders and purchase items from all over the world. New discoveries are made to ensure that the ordered goods are delivered to their destinations as fast as possible. This new software will provide a base for more research to be conducted and ensure the software is updated to cater to the changing needs of consumer (Kapferer, 2012). STRATEGIC PLANNING 7 Strategic Plan Part 3 Assumptions, Risks and Change management plan The assumption made is that the service shall be received in the market warmly and there shall be fair completion with other companies offering substitute goods. Also, the corporation assumes that this product will be able to meet consumer needs and will be relevant to their tastes and preferences (Kaplan & Norton, 2011). The possible risk is that the product may not match the customer’s need causing losses to the organization because of the great investment made in product development. Summary of Strategic Objectives This product is expected to aid in raising the company’s revenue and ensuring that the expectations of the stakeholders are met. Good leadership of the new division is very important to ensure its success in the market. All employees should be well-taken care by providing them with favorable working conditions (David, 2011). They should be equipped with the necessary gadgets they require while on duty. Frequent motivations for the employees are also important to keep up a good level of production. Targets should be set and a balanced scorecard to be used to analyze if the targets have been achieved as required. An excellent customer service should be set up to ensure that the customers are able to communicate the feedback after using the product and give suggestions on any improvement that should be implemented if any. STRATEGIC PLANNING 8 Conclusion Strategic planning is so important for any organization that is determined to succeed especially in forming a new division that aims at introducing the product into the market (Kaplan & Norton, 2011). A strategic plan will outline to all stakeholders what the whole organization expects from the new division formed. It also helps in setting priorities during the implementation of the new division. Microsoft Corporation after setting up a strategic plan is very ready to allocate its resources to begin the formation of the new division. STRATEGIC PLANNING 9 References David, F. R. (2011). Strategic management: Concepts and cases. Peaeson/Prentice Hall. Kaplan, R. S., & Norton, D. P. (2011). The strategy-focused organization: How balanced scorecard companies thrive in the new business environment. Harvard Business Press. Kapferer, J. N. (2012). The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers.
1 Running head: SWOT ANALYSIS OF ELDE SWOT Analysis of Elde Amber Lynn BUS/475 Fredric Hibbler June 25, 2018 2 SWOTT ANALYSIS OF ELDE SWOTT Analysis of Elde Info Solutions PVT LTD This paper is a synopsis of Elde Info Solutions PVT LTD. It assesses the internal and factors of growth and conducts a strengths, weaknesses, opportunities, threats, and trends (SWOTT) potential. External Forces and Trends Industry Changes: The company partners with global firms to reduce risks (elde.tech). The failure to initiate its direct entry into new emerging markets limits its market’s growth potential. Elde has a broad base of loyal customers like Konark that improve its potential to get referrals for new clients. However, partnering with other firms limits its independence. The company has adopted cloud computing as the future of information technology relies on it. Legal and Regulatory Factors: The government is reducing the corporate tax in the next four years hence the company stands a chance to increase its revenues (ukibc.com, 2018). The company fails to outline on its website how it protects data under the data warehousing services. The Indian government supports the growth of domestic companies hence there is protection from Foreign Direct Investors. Elde lacks clear policies data protections, therefore, can be used against it by competitors. The trend adopted by Elde involves acquainting itself with the labor laws. Global Forces: Elde adopts alliance as a method of entry into the global arena. Majority of the companies working with Elde are Indian-based. However, the alliances provide an extensive range of clientele for the firm. There is stiff competition from larger consultancy firm like Tata Consultancy Services (TCS). There is a trend in cloud computing in all major IT companies, so there is a stern challenge. 3 SWOTT ANALYSIS OF ELDE Economic Forces: India has a continually growing economy. Elde does not utilize the opportunities for mergers when the trade policies support it. India’s telecommunications industry is growing with many opportunities available. However, the government’s policies on foreign direct investment promote competition. The Digital India policy by the government will make many customers seek IT services (ibef.org, 2018). Technological Factors: The government supports digital initiatives and data analytics services. The company’s marketing strategy is weak on-site. There is a growing demand for Big Data analytics. Contrastingly, there are less aggressive marketing techniques than the competition. There is need to perform digital marketing as a promotional strategy. Innovation Factors: Elde is upgrading the services offered and partnering with bigger companies to increase popularity. The many alliances bar the activities of the company. The Human capital management (HCM) and Enterprise resource planning under Ramco have huge market potential (elde.tech). Elde lacks differentiation in its services. The trend such as nanotechnology should be adapted to capture a new market internationally. Social Forces: Elde is using Facebook and LinkedIn to interact with the broader customer base. The company ignores other interactive sites like Twitter. Social media interactions have a positive impact on the company’s brands hence should be adopted. The little focus on digital marketing offers competitors a first-mover advantage over Elde Info Solutions PVT LTD. The trend that involves sharing of videos of served customers on digital platforms can be helpful in winning the trust of existing customers and prospects. Environmental Forces: The Company deals with products and services that are not directly affected by sanctions from environmental organizations. Lack of activities that promote 4 SWOTT ANALYSIS OF ELDE sustainability lower positive publicity concerning conservation. Elde can partner with environmental conservation groups as a way of boosting their corporate citizenship goals. It is most likely that the government can ask for the disposal role of the company, failure of which the fate of the organization may be uncertain. The Indian Government requires that all firms disclose their corporate social responsibility (CSR) plans (ibef.org, 2018). Competitive Analysis: The partnerships with the global companies offer an entry strategy to international business (elde.tech, 2018). Elde has failed in opening more outlets to the global networks. Partnering with global organizations provide avenues for studying potential markets and gaps to be explored. The threat is that the government supports competition. Computer software and hardware and telecommunications are attracting many foreign investors to India, the domestic market for Elde. Internal Forces and Trends Strategy: The primary strategy employed by the organization is the formation of partnerships with large business giants like Salona Bichona. The alliances protect the unpredictable investments hence lowering the risks. Unfortunately, Elde’s marketing strategy ignores some online platforms like Twitter. The associations offer an excellent opportunity to market new products through the trust gained from the customers that are loyal to the partners. However, depending on one strategy is not as safe as some may not obey the set agreements. Mergers and acquisitions (M&A) may be a better alternative to the alliances. The trend in foreign direct investment through exportation may offer a low-risk style for entering new markets with low risks intended. 5 SWOTT ANALYSIS OF ELDE Structures: Elde uses a flexible delivery system to serve customers. The fact that it can sell the products on-cloud, on-premise and on-mobile expand its reach. The organization supports inclusivity and diversity whereby all the employees contribute to meet organizational goals. The inclusivity breeds motivation and success in the firm. However, the company does not indicate its policies on talent development and customer retention. There is an opportunity for Elde to use the companies it collaborates with as benchmarks for its operational overhaul. The challenge remains to beat the significant competitors like Tata Consultancy. Elde should use a decentralized structure of operation whereby all employees’ ideas can be considered for progress purposes. Processes and Systems: Elde provides management with growth tools, cloud-systems, more natural transaction processes, mobile-enabled solutions, decision-making tools, performance monitoring tools, and inclusivity tools. The diverse methods and systems promote employee commitment. The loopholes with the systems are that they tend to be technology-focused than human resource support. Despite the challenges, the systems are on demand by the customers who seek to boost competitiveness. The company’s website does not support free navigation, a negative reflection of the policies it promotes. Most companies are shifting to digital metrics to gauge their performance. Resources: Elde generates about $2.5 million and has a close to 45 employees (owler.com, 2018). The company has adequate financial resources to compete with small business enterprises. It does not conduct intensive promotions hence lower market potential. Elde should grow its employee base to offer service to many clients. With the lower financial power and workforce, it is difficult to challenge large companies in the same market. Outsourcing is a trend that can help in solving the problem of a few employees. 6 SWOTT ANALYSIS OF ELDE Goals: The Company strives to provide good-quality to customers regardless of the service offered (elde.tech, 2018). The firm also intends to enter the global market. The goals are precise but need proper strategies that can improve the services continuously and also expand the company’s return of investments (ROI). The organization is suffering from employee shortage and financial power. The firms that it serves can offer exchange mentorship services on growth. Elde also needs to adopt social goals to gain consumer trust. The goals of the organization must be divided internally divided into smaller objectives for easier achievement. Strategic Capabilities: Elde holds good market knowledge in different regions of its domestic market. It has however failed to set outlets regionally. Having agents can be an excellent start to holding new markets. Upcoming small businesses enterprises may pose challenges for entry. Prior market research may be helpful in penetrating new markets. Culture: The Company believes in transformative authority, professionalism and competence to boost its operations. However, the culture pushes the workforce and can lead to burnouts. The organization’s culture can attract new talents that believe in recognition for work done. The setbacks can also involve increased cases of low motivation when group work is not supported. Talent retention is a new trend that helps firms to keep a committed workforce. Technologies: The company offers the highly on-demand cloud computing and data analytics services. The company’s marketing strategy is weak on-site. There a growing demands for Big Data analytics. Contrastingly, there are less aggressive marketing techniques than the competition. There is need to perform digital marketing as a promotional strategy. Innovation: Its solution based administrations, subsequently helping diverse clients get out various obstacles system warehousing, system integration, application support, the enterprise 7 SWOTT ANALYSIS OF ELDE application implementation and project management. Notably, the open-door policy can only serve the domestic clients. The video-conferencing techniques expand the interaction with potential customers. The low risks incurred can only result in low returns on investments. The virtual alliances are increasing in global business. Intellectual Property: Elde intends to protect its ideas from unfair competition to utilize the maximum benefits. The law of fair competition still would not permit complete protection. The intellectual property rights should be implemented for novelty ideas. Leadership: The management of the company believes in solving the matters that affect customers and provide convenience. The challenge remains the barrier that would still prevail with the virtual system of service to customers. SWOTT Summary Table Internal Strength Weakness Opportunity Threat Trend Industry Partnership Reduced Wide Cloud Changes reduces growth customer risks potential base Force Legal Regulatory & Reduced corporate Poor online Support loyal Reduced independence for Unclear computing data Labor laws strategies SMEs policies Most Larger Stiff Cloud partners clientele competition computing tax Global Easier entry domestic 8 SWOTT ANALYSIS OF ELDE Economic Technological Innovation Stable No Growing Government Digital economy acquisitions industry supports FDI policy Government Website Big data on Less to demand India Digital support hard aggressive marketing digitization navigate Partnerships Limited Services are Differentiation Nanotechnology increase activities novelties marketing lacking popularity Social Facebook Poor online Positive Competition and presence branding get impact mover LinkedIn provide Videos first- marketing advantage wide customer base Environmental Welldefined Low Partnering Risk publicity with sanctions due responsibility conservation to NGOs disposal plans Massive FDI services Competitive Easy global Few Easy analysis business business analysis entry outlets market gap of of Corporate social poor Foreign direct investments (FDI) 9 SWOTT ANALYSIS OF ELDE Internal Strength Weakness Opportunity Threat Trend Rusk Elimination Fast Contract Mergers reduction of key customer breach acquisitions online loyalty platforms acquisition Forces Strategy Structures Processes systems (M&As) Flexible No delivery growth as plans benchmarks Burnout Increased & Employee talent Partners act Stiff commitment issues and Decentralized competition Key by system SMEs of operation Difficult demand structure performance navigation indicators (KPIs) Resources Available Low staff Advantage financial numbers over SMEs Realizing Need Barriers from Outsourcing market leaders resource Goals Clear goals goals challenge for Poor goal Goal-setting a social goals setting to gain priorities due to few customer workers trust Strategic Good Fewer Agents can Competition capabilities market outlets be used to from SMEs Market research 10 SWOTT ANALYSIS OF ELDE knowledge penetrate markets 11 SWOTT ANALYSIS OF ELDE References Elde.tech (2018). Web accessed June 23, 2018 from http://www.elde.tech/?page_id=29 Ibf.org (2018). About Indian economy growth rate and statistics. Web accessed June 23, 2018 from https://www.ibef.org/economy/indian-economy-overview Owler.com (2018). Elde Info Solutions competitors, revenue, number of employees, funding, and acquisition. Web accessed June 23, 2018 from https://www.owler.com/company/eldeindia quora.com (2018). How much is demand for Big Data analytics in India. Web accessed June 23, 2018 from https://www.quora.com/How-much-is-the-demand-for-Big-Data-Analytics-inIndia Ukibc.com (2018). India’s legal and regulatory framework. Web accessed June 23, 2018 from https://www.ukibc.com/india-guide/how-india/legal/

Tutor Answer

CristinaP
School: Carnegie Mellon University

Attached.

Running head: BALANCED SCORECARD AND COMMUNICATION PLAN

Balanced Scorecard and Communication Plan
Student’s name
Institution
Date

1

BALANCED SCORECARD AND COMMUNICATION PLAN
Strategic Plan Part III: Balanced Scorecard and Communication Plan
Introduction
In every new division a business initiates, it must come up with a strategic projection of
how the business is expected to perform within a given period and the value it brings back. For
Elde Info Solutions, a strategic analysis of the future performance in the form of a balanced
scorecard will be performed so as to be in a position to project future income based on the
available resources and market size. According to Cohen and Muñoz (2017), a balanced
scorecard is a strategic planning and management tool that helps the organization to
communicate to different stakeholders what they intend to achieve, align their operations
towards meeting the business strategic plans, prioritize specific initiatives important to the
strategy, and measure and monitor progress towards the identified strategic goals. As a
management tool, the balanced scorecard enables the business management to analyze,
coordinate, and align available resources and actions towards best achieving the set strategic
goals.
Elde Info Solutions Balance Scorecard



Shareholder Value/Financial Perspective

From the SWOTT analysis conducted on the firm, expanding its operations beyond India
remains one of its main goals (Margarete Oro & Facin Lavarda, 2017). To achieve this, the firm
would require to have sufficient funds. As a result, the company needs to improve its financial
position by improving its information capital and enhancing its ability to meet short-term and
long-term financial obligations....

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Anonymous
Awesome! Exactly what I wanted.

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