Balanced Scorecard
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Develop the strategic objectives for your business in the format of a Balanced Scorecard. Be sure to consider all of the following four quadrants of the Balanced Scorecard when developing your strategic objectives:
1. Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
a. Market share
b. Revenues and costs
c. Profitability
d. Competitive position
2. Customer Value Perspective, includes strategic objectives in areas such as:
a. Customer retention or turnover
b. Customer satisfaction
c. Customer value
3. Process or Internal Operations Perspective, includes strategic objectives in areas such as:
a. Measure of process performance
b. Productivity or productivity improvement
c. Operations metrics
4. Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
a. Employee satisfaction
b. Employee turnover or retention
c. Level of organization capability
d. Nature of organization culture or climate
e. Technological innovation
Develop at least three strategic objectives for each of the following four Balanced Scorecard areas identified above (Financial, Customer, Process, and Learning & Growth). For each strategic objective, develop a metric and target using a Balanced Scorecard format.
Provide a 3 - 4 page summary that explains your critical thinking on how you derived your objectives from your vision, mission, values, and SWOTT analysis.
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Solution Summary
Brief (750 words) discussion on the four quadrants of the balanced scorecard.
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In its purest form, "The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise." (Arveson, 1998)
If a particular project does not call for the strict use of the balance scorecard, ...
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