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Balance Scorecard

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Please assist so that I can write a paper:

That defines your objectives and explains your critical thinking on how you derived your objectives from your vision, mission, values, and SWOTT analysis.

(For an example of a balanced scorecard, Formulation, Implementation, and Control

Properly cite your references.

Develop the strategic objectives for a Event Planning 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 objectives should be SMART: Specific, Measurable, Attainable, Realistic, and Timely.

Develop at least three strategic objectives for each of the following four Balanced Scorecard areas identified above (Financial, Customer, Process, Learning & Growth). For each strategic objective, develop a metric and target using a Balanced Scorecard format.

(For example a strategic objective in the shareholder or Financial Perspective is "Increase in Market Share". A metric to actually measure this strategic objective of market share increase is "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 in Market share" could be "Increase market share by 2% for each of the next three years" of an increase of 2% per year for 3 years.)

Be sure to consider all of the following four quadrants of the Balanced Scorecard when developing your strategic objectives:

Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:

Market share

Revenues and costs

Profitability

Competitive position

Customer Value Perspective, includes strategic objectives in areas such as:

Customer retention or turnover

Customer satisfaction

Customer value

Process or Internal Operations Perspective, includes strategic objectives in areas such as:

Measure of process performance

Productivity or productivity improvement

Operations metrics

Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:

Employee satisfaction

Employee turnover or retention

Level of organization capability

Nature of organization culture or climate

Technological innovation

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Solution Summary

The response was posted in 1285 words with references.

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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