Strategic Plan, Part Iii: Balance Scorecard

*

Strategic Plan, Part III: Balanced Scorecard

BUS/475 – Integrated Business Topics

Rest Incorporated is a company for individuals to have an outlet from the daily stress in which we all experience. According to the medical field stress is not bad for humans it’s how individuals react and what is the outlet used to relieve the stress. Rest Incorporated goal is to be that beacon of light we need to maintain a healthy heart and a healthy mind.

Balance scorecard is essential for developing a healthy business; that which is not measured is not watched, a crucial fact in today’s market. It is an important key for defining the goals and targets of Rest Incorporated as well as the vision, mission and the SWOTT Analysis. A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). This paper, will relate Rest Incorporated values, mission, vision & SWOTT Analysis with the five perspectives of the scorecard (financial performance, customer knowledge, internal business process, and learning and growth).

Financial Perspective

A strong and well defined vision & mission statement will facilitate the company to achieve its target. The objectives of the Rest Incorporated should be implemented as a daily routine so as to increase the performance of the company. The first and foremost responsibility of a company is to seek its customer satisfaction, benefit utilization, increased net revenues and also to achieve financial stability. In order to evaluate the financial stability of a company, one should calculate the Operating cost, Earnings per share, growth revenue & return on interest and capital. “If we succeed how we will look to our stakeholders” (BSI 2009, 5).

Customer Value Perspective

The customers determine the success of the company. The ups & downs in the...