Hello: You guide me through my previous assignment (last week) SWOTT analysis and Table,Problem #258631 I was wondering if you could help me with the follow up, which is the scorecard and summary.See bellow:
Individual - Balanced Scorecard Assignment
Resources: University library, Internet, Strategic Direction Evaluation assignment, Strategic Management exhibit 6-1.
Use knowledge gained from this course and previous coursework to 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. Be sure to consider all of the following four quadrants of the Balanced Scorecard when developing your strategic objectives:
o Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
? Market share
? Revenues and costs
? 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 organization capability
? Nature of organization culture or climate
? Technological innovation
Develop at least three strategic objectives for each of the following four Balanced Scorecard areas identified above (Financial, Customer, Process, Learning & Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis paper and Table you completed in Week Three. Base your solutions on a ranking of alternative solutions which includes an identification of potential risks and mitigation plans, as well as a stakeholder analysis which includes mitigation and contingency strategies. You should also incorporate the ethical implications of your solutions into your selection.
o 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.)
Write a 700-1,050-word summary that explains your critical thinking on how you derived your objectives from your vision, mission, values, and SWOTT analysis.
Format paper according to APA standards. Properly cite your references. If you used an electronic source, include the URL.© BrainMass Inc. brainmass.com October 16, 2018, 11:30 pm ad1c9bdddf
The response address the queries posted in 1678 words with references.
//As per the directions, in this discussion paper, we will mainly talk about the Balance Scorecard and SWOTT Analysis. In this part, we will also talk about the vision, mission and values of the organization, which assist in attaining the firm's objectives. Basically, we will discuss; how the objectives have unification with the vision, mission, values and SWOTT analysis of the business system.//
Concepts of Vision, Mission, Values and SWOTT:
In an organization; all these different elements of strategic management play a vital role. A complete understanding of these elements i.e. Vision, Mission, Values and SWOTT analysis not only assists in projecting efficacious future plans for an organization, but also helps in attaining the business target. Vision entitles the long term aspect of the business. It is the description of what a business system is seeking to perform and to become. It holds an organization going forward in the determined direction (Ryall & Craig, 2003).
On the other hand; Mission keys out company's operations extent and outlines product & services, technological areas, market, etc. of the company. For the business growth and success, it is conceived as the vital aspect that helps in deriving the organizational objectives because it shows the organizational features and values effectively. Values are defined as ideas, beliefs, and thoughts that mainly comply in an ideal condition. In the organization, values are feelings that actually are related with each individual of an organization (Ryall & Craig, 2003).
Lastly, SWOTT analysis is conceived as process that is mainly enforced for strategic planning. This concept assists in defining the organizational objectives on the basis of various factors i.e. favorable and unfavorable. All the above factors greatly assist the company in attaining its objectives through furnishing direction and information required in the systematic and fruitful manner.
//Above, we discussed about the link between the Company's objectives, vision, mission, vales and SWOTT analysis. Moving to the next part of instructions; now, we will talk about way through which, the objectives of the organization were gained from these basic tools that are studied in a specified manner. You are free to add more in this topic, which you find suitable. I am just providing you a brief overview.//
The objective of an organization greatly depends upon vision, mission, values and SWOTT analysis. In attaining the organizational objectives; vision acts as an effective inducement that will assist the business organization in moving forward towards its pre-defined end. Basically; it is processed as an instrument of instruction or direction and a definer of future intention of the organization (Triner, Watkins & Loew, 1998). With the help of vision statement, organizations will easily evolve organizational anticipated results by the end users and also a way through which, these prospects can be reached. Thus, it is concluded that in corresponding with those expectations, the organizational key objectives were gained from its vision statement.
In the same way, company's mission also helps in educing objective of the business corporation through clearly reflecting the operations scope, competitive market, technical areas of driving force, values and priorities. The views included in the mission statement have a great coincidence with the objectives. After the preparation of the mission statement; organizational objectives were set up mainly because the objectives greatly rely on the mission. In the valued terms; the mission statement also served in developing ...
The response address the queries posted in 1678 words with references.
Presentation about the Balanced Scorecard
Your boss recently attended an accounting seminar at which the Balanced Scorecard was discussed. He has asked you to prepare a presentation for the next manager's meeting about the Balance Scorecard and how SAC might adopt it. In your presentation, define Balanced Scorecard, explain how it is used, and make a recommendation if SAC should adopt the Balanced Scorecard, and if adopted, how it might improve the company.View Full Posting Details