Balanced Scorecard and Communication Plan

Balanced Scorecard and Communication Plan

Strategic Plan Part III: Balanced Scorecard and Communication Plan

Assignment Steps

Resources: Strategic Planning Outline and Week 4 textbook readings

Create a minimum 1,050-word strategic objectives summary. Please review the Grading Guide below.

Include your balanced scorecard and its impact on all stakeholders, and the communication plan.

Balanced Scorecard and Communication Plan

Identify key trends, assumptions, and risks in the context of your final business model.

Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. 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, which includes strategic objectives in areas such as:

Balanced Scorecard and Communication Plan

· Market share

· Revenues and costs

· Profitability

· Competitive position

· Customer Value Perspective, which includes strategic objectives in areas such as:

Balanced Scorecard and Communication Plan

· Customer retention or turnover

· Customer satisfaction

· Customer value

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

· Measure of process performance

· Productivity or productivity improvement

· Operations metrics

· Impact of change on the organization

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

· Employee satisfaction

· Employee turnover or retention

Balanced Scorecard and Communication Plan

· Level of organizational capability

· Nature of organizational culture or climate

· Technological innovation

Evaluate potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis assignment and table you completed in Week 3.

Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions including the following:

· Identify potential risks and mitigation plans.

· Analyze a stakeholder and include mitigation and contingency strategies.

· Incorporate ethical implications.

Balanced Scorecard and Communication Plan

Develop a specific metric and target for each strategic objective using a balanced scorecard format.

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.

Outline a brief communication plan discussing how you will communicate the company’s strategic objectives including the following:

· Define the purpose.

· Define the audience.

· Identify the channel(s) of communication and why you selected that channel.

Grading Guide

Content

Met

Partially Met

Not Met

Comments:

Identified key trends, assumptions, and risks in the context of student’s final business model.

Balanced Scorecard and Communication Plan

Developed the strategic objectives for student’s new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining the vision and mission of student’s business. Considered the vision, mission, and values for student’s business and the outcomes of their SWOTT analysis.

Considered the following four quadrants of the balanced scorecard when developing student’s strategic objectives:

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

Market share

Revenues and costs

Profitability

Competitive position

Customer Value Perspective, which includes strategic objectives in areas such as:

Customer retention or turnover

Customer satisfaction

Customer value

Balanced Scorecard and Communication Plan

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

Measure of process performance

Productivity or productivity improvement

Operations metrics

Impact of change on the organization

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

Employee satisfaction

Employee turnover or retention

Level of organizational capability

Nature of organizational culture or climate

Technological innovation

Evaluated potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis assignment and table student completed in Week 3.

Created at least three strategic objectives for each of the four balanced scorecard areas. Base student’s solutions on a ranking of alternative solutions that includes the following:

Identified potential risks and mitigation plans

Analyzed a stakeholder and include mitigation and contingency strategies.

Incorporated ethical implications.

Developed a specific metric and target for each strategic objective using a balanced scorecard format.

Outlined a brief communication plan discussing how student will communicate the company’s strategic objectives that includes the following:

Defined the purpose.

Defined the audience.

Balanced Scorecard and Communication Plan

Identified the channel(s) of communication and why student selected that channel.

The strategic objectives summary is a minimum of 1,050 to words in length.

Total Available

Total Earned

6

#/6

Writing Guidelines

Met

Partially Met

Not Met

Comments:

Organization

The tone is appropriate to the content and assignment.

The introduction provides a sufficient background on the topic and previews major points.

Paragraph transitions are present, logical, and maintain the flow throughout the paper.

The conclusion is logical, flows from the body of the paper, and reviews the major points.

Mechanics

The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.

Intellectual property is recognized with in-text citations and a reference page.

Sentences are complete, clear, and concise.

Rules of grammar and usage are followed including spelling and punctuation.

Total Available

Total Earned

2

#/2

Assignment Total

#

8

#/8

Additional comments:

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