Balance Score Card is an administrative tool used for strategic planning in an organization. This tool is employed by a number of organizations to achieve their strategic objective. Balance Score Card helps the organization in bettering the communication process both internally as well as externally. It helps to keep a track of the company's performance in a time period (Ryall& Craig, 2003).
This tool helps to align the Mapua Water's mission, vision and objectives to the company's strategy. Balance Score Card provides a measurement framework for the managers to evaluate the organization's performance. The Balance Score Card has four basis components customers, financial prospective, internal business process and learning and growth.
Mapua (spring) Water is a Hawaii-based company that manufactures and bottles naturally flavored and oxygen-enriched water, which is distributed throughout the Hawaiian Islands and the Continental United States. The warehouse and main office is located in Hana, Hawaii. The company originated in Hawaii approximately five years ago, selling products to local stores throughout the island of Maui. Mapua Water expanded its business within the year to include the other islands of Hawaii. Approximately three years ago, Mapua Water developed the market share to include mainland business. Mapua Water currently serves the entire Continental United States.
Mapua Water started with the vision of creating a company that offered a quality, nutritious drink that was refreshing and affordable. Mapua Water's primary values and concerns relate to the quality and cost of the product, while recognizing interest for the community and the employees. With these thoughts in mind, the following vision statement, mission statement, and goals were developed.
Mapua Water envisions:
• Having the freshest and most nutritious natural drink at the most affordable price while benefiting employees, stakeholders, and the immediate community
• Knowing that our water refreshes and quenches the thirst of people throughout the world
• Offering employees opportunities to grow in an equal employment environment
• Promoting educational values and empowering individuals within the company and the community
Mapua Water commits to:
• Providing our community and nation with clean, nutritious water
• Using only the finest quality of ingredients
• Delivering our product promptly and efficiently with quality customer service
• Providing opportunities to employees that empower and support them
• Quality assurance and Cost Control
• Equal opportunity and empowerment to the individual
• Promotion of educational assistance and striving for the essence
• Philanthropy and cultivating community and diversity
• Leadership through creativity and innovation
• Gain 20% of the market
• Globally expand
• Diversify the products
• Independent manufacturing and distribution of all products
Strategic Action Programs
• Monitor market situation and trends
• Evaluate levels of employee performance
• Create demand for product
• Add sales representatives and service personnel
• Increase advertising
• Develop an Internet marketing plan
• Improve operating technology and efficiency
• Develop employee-training programs
Executing and Monitoring the Strategic Plan
In order to increase the levels of commitment to our strategic plan we will need to focus on execution. We have defined four key projects and initiatives, which drive the success of our outcomes: the customer standards, accountability, integration, and finally innovation.
The following are ways in which we can ensure that we meet customer standards:
• Provide superior customer service by ensuring that we fill the orders of our customers accurately and timely
o Create flow-charts that indicates what the processes are for filling customers' orders, delivering product, merchandising product, and selling product
o Create a tracking system that enables us to see the orders placed by our customers, when they were delivered, and who signed for them
o Provide the customer with a detailed purchase order of product they have ordered and received
o Organize the routes so that they are consistent and stores know when their next delivery is and when our sales representative will be in the store
o Ensure that the merchandisers of our product fill our customers' shelves and coolers with the right product
• Ensure products and services are cost effective, efficient, and value-driven
o Eliminate breakage and incorrect ordering
o Ensure that the deliveries are on-schedule and minimize off-schedule deliveries
o Provide sales staff with proper pricing
o Ensure that customers are properly billed
• Train, Motivate, Educate and Reward all Mapua Water employees
o Offer sales based incentives to sales staff to encourage higher sales
o Offer performance based incentives for drivers, merchandisers, and warehouse workers
o Hold weekly meetings that cover a specific work process each week
o Have brain-storming sessions with staff that encourages them to come forward with ideas to service our customers smarter, faster, and stronger
• Communicate with both external and internal customers what the strategy is all about and the role each will play
o As the processes change, management will directly contact customers to inform them of the changes and discuss their concerns
o During weekly meetings, management will review the vision, mission, and goals of the company, while explaining the changes
o During weekly meetings, management will open the meeting up to a round-table discussion in which concerns can be addressed
Mapua Water's mission statement and vision statement stands as an influence among management and the employees for a prosperous growth. The customer satisfaction section put great stress on how this company can move on to the next level. Mapua Water's pursuit of market opportunities is based on the existence of external opportunities but also on competitive advantage of the quality and supply of water (Pearce & Robinson, 2004, p. 147). Overall, a detailed and supportive strategic plan has put the interest of a quality drink, customer satisfaction, and employee happiness as its main focus.
Running Head: IMPLEMENTATION OF STRATEGIES AND TACTICS
Implementation of Strategies and Tactics for Water Company
According to the vision and mission of Mapua (spring) water company, the main objective of the company is to gain highest shares of the market by providing highest quality water with low cost in comparison to its competitors. By providing high quality, the management wants to gain customer satisfaction and maintain a long term relationship with them. In order to achieve the objective of the company, Mapua also want to increase the performance level of the employees by motivating them and providing advanced technologies.
Strategies and Tactics to achieve the Objectives
The management should understand the need of market, by conducting a market analysis. Management should conduct a survey to understand the taste, quality and price preferred by the customers (Wexelbaum, n.d.).
In order to promote its product the management should use attractive promotion strategies and communication technique.
Every consumer should have the knowledge about the product of company. So the management should communicate about product in the market with the help of latest information technologies. The management should use internet, newspaper, television to advertise this product.
Timing is also one of the important factors to implement various strategies and tactics. The management ...
The strategic objectives, measures and targets for an assignment are examined. The strategic direction is determined for a company originated in Hawaii.