Strategic Plan Part Iii: Balanced Scorecard

Strategic Plan Part III: Balanced Scorecard

BUS/475

Monday January 9, 2012

Dr. Ronald Beach

Strategic Plan Part III: Balanced Scorecard

For the remainder of this course, the business known as The Uptown Jerk Hut and the business plan associated with it were ideas and concepts previously used in the course Integrated business topics taken August 30, 2011 to October 3, 2011.

Originated by Drs. Robert Kaplan and David Norton, the balanced scorecard is “a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more “balanced” view of organizational performance” (Balanced Scorecard Institute, 2011). According to the balanced scorecard institute, this is “a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals.” Creating a balanced scorecard for The Uptown Jerk Hut will help to enhance and clearly paint a vivid picture for the restaurant’s mission, SWOTT analysis, values, and vision statement. This paper will look at four quadrants of the balanced scorecard. Namely the shareholder value or financial perspective, customer value perspective, process or internal operations perspective and the learning and growth perspective.

Shareholder Value/Financial Perspective

Looking at this area of the scorecard, The Uptown Jerk hut will need to focus on increasing net revenues while minimizing store production costs. Another objective will be to increase the restaurant’s operating cash flow over the next year and finally The Uptown Jerk Hut will aim to meet financial sustainability. The business will ensure to measure revenue growth, return of capital and interest, and also operating costs in...