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. Consider 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 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 organizational capability
o Nature of organizational 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 and 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 that includes an identification of potential risks and mitigation plans, and a stakeholder analysis that 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 to increase 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 market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years.)
Summary that explains your critical thinking on how you derived your objectives from your vision, mission, values, and SWOTT analysis.
based on the preschool learning center.
Please refer to the attached files for the response.
PRE-SCHOOL BUSINESS STRATEGIC OBJECTIVES:
The strategic objectives are measures of attaining the vision and mission of a pre-school, a hypothetical business. These were determined in consideration of the values and outcomes identified earlier.
The balanced scorecard includes four components: the different perspectives, the strategic objectives, measures or indicators, target performance, and the management initiatives.
ON FINANCIAL PERSPECTIVE:
OBJECTIVES: Financial perspective MEASURES TARGET INITIATIVE
Market share Number of pre-school enrolees in the learning centre as against the total pre-school enrolees in the sampled city To capture a market share of not less than 10% of the market in the area Competitive pricing
Modern and quality instructional materials
Revenue and costs Revenue is measured as the product of number of enrolees and the tuition fees paid by each
Costs are measured in terms of expenditures on space rental, maintenance, instructional materials, overhead, salaries and wages and other incidental expenses Annual increase in revenue must be at least 10%
Aggregate costs must not be more than 50% of revenues ...
The strategic management for a preschool learning centers are examined. The financial, customer, process, learning and growth is discussed.