Strategic Objectives for four Balanced Scorecard Areas
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For a company called 'Sci/Art Kickboxing'...
- Develop at least two strategic objectives for each of the following four Balanced Scorecard areas identified (Financial, Customer, Internal Business Process, Learning and Innovation).
- Develop a mission statement
- Develop a balanced scorecard with objectives, detailing what will be measured. Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to possible issues and/or opportunities. Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and mitigation plans and a stakeholder analysis that includes mitigation and contingency strategies. You should also incorporate into your selection the ethical implications of your proposed solutions
- Employee satisfaction
- Employee turnover or retention
- Market share
- Revenues and costs
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Solution Summary
This detailed solution develops two strategic objectives for each of the balanced scorecard areas identified, includes a mission statement, a balanced scorecard with objectives for measurement for a fictional company.
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Hi- here are some suggestions.
Strategic Objectives
Financial:
1. Year to date cash in/ Year to date cash out, and difference. Objective is to maintain positive cash balance
2. Number of members, percent increase/decrease over past month/year (using same time frame). This will determine if we are increasing clientele served and aligns with our vision to bring greater awareness of kickboxing to community.
3. Maximize rewards paid to employees in salaries to ensure continuity of employment. This is an important as we are interested in maintaining our number one asset, our trained personnel.
Customer:
1. Number of Classes. Offer 6 classes a day, 5 days a week, averaging 15 clients per class. Sci/Art is interesting in giving the community a wide range of experiences, available only through a variety of classes.
2. Average retention rate clientèle. Maintain average customer 6 months or longer. A higher rate will show we are satisfying our clientèle's needs.
3. Increase share of market, demonstrated through a sales growth of 10 % annually. It is our intention to gain share ...
Education
- BA, University of Southern California
- MSS, United States Sports Academy
- Ed.D, Boise State University
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