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Basic Balanced Scorecard Evaluation

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ZZ Tire Company started as retail installer of tires on cars 10 years ago. They now have 400 retail stores, installing about 10,000 tires per store per year and selling a total of 4 million tires. 5 years ago, they decided to start manufacturing their own tires to sell in their retail locations.

They now have 4 manufacturing plants, making 2 million tires a year. They made a profit of $170 million dollars. On average, they make $50 a tire on the tires they manufacture and $35 on the tires from other manufacturers. Their current growth rate is 12% a year, and they are only located in the 10 southeastern states. Their current customer satisfaction rating is 85%. They are also starting to do research on making a tire that increases gas mileage in cars. Currently, they are using the same type of machines in the factory since the beginning and still use the same type of machines in their installation locations.

Do a basic balanced scorecard evaluation where you go through the four areas (learning and growth, internal business process, customer, and financial perspectives) and provide management some ideas for improvement. You are allowed to estimate and make assumptions about the company.

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Solution Summary

This solution discusses objectives for four balanced scorecard metrics.

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Balanced Scorecard

Use the assignment Strategic Direction Evaluation, 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.

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. 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.

Balanced Scorecard Assignment

· Use the assignment Strategic Direction Evaluation, 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:

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

o Market share

o Revenues and costs

o Profitability

o Competitive position

Customer Value Perspective includes strategic objectives in areas such as:

o Customer retention or turnover

o Customer satisfaction

o Customer value

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

o Measure of process performance

o Productivity or productivity improvement

o Operations metrics

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

o Employee satisfaction

o Employee turnover or retention

o Level of organization capability

o Nature of organization culture or climate

o 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.

· 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.

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