Submitted by: Submitted by joey2918
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Category: Business and Industry
Date Submitted: 10/18/2010 10:34 PM
Individual Assignment: Strategic Plan, Part III: Balanced Scorecard
Resources: 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. Your final balanced scorecard should contain the following four quadrants of the balanced scorecard when developing your strategic objectives. Be sure each item is specific and measurable. For example, "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.)
o Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
Market share
Revenues and costs
Profitability
Competitive position
o Customer Value Perspective, includes strategic objectives in areas such as:
Customer retention or turnover
Customer satisfaction
Customer value
o Process or Internal Operations Perspective, includes strategic objectives in areas such as:
Measure of process performance
Productivity or productivity improvement
Operations metrics
o Learning and Growth (Employee) Perspective, 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
Develop at least three...