Strategic Plan Part Iii

Strategic Plan Part III-Balanced Scorecard

Lisa A. Saleem

Integrated Business Topics/475

January 21, 2011

Bruce Voris

Strategic Plan Part III-Balanced Scorecard

A business plan helps one to figure out how ones business should operate to succeed. Constructing a balanced scorecard gives one a measurement of potential issues and opportunities of a business. The balanced scorecard is also a small version of one’s vision, missions, and values. The this paper the subjects to discuss generic strategic objectives (Pearce and Robinson, p. 5, 2009) that come from the mission, values, and SWOTT analysis of a Mrs. Fields franchise that will open soon in southern California. The generic strategies are long-term.

Financial Perspectives

The financial perspective objectives are long-term objectives. The increase of market share by three percent per year for five years establishes a goal for profitability and measures it. By hiring a high quality of employees to sell Mrs. Fields products to customers will help increase market share. To increase revenue and lower costs the business needs to have good employees to do his or her job the best of his or her ability. Good employees will help to increase revenue by attracting many customers into the store to buy cookies. Lowering costs by having many customers buying the products so they do not spoil or become stale. To increase profitability, Mrs. Fields offers many snack products that consumers like, so the consumers will buy them.

Internal Operation Perspectives

The way Mrs. Fields will increase its process performance is by baking the products those customers like in a timely manner. Employees will also acknowledge customers as soon as the customers come into the store. An increase in productivity depends on if suppliers deliver the products in time because if Mrs. Fields does not have enough products then employees cannot do his or her job proficiently. Operations metrics will show how quickly customers are served...