BUS 475 WEEK 4 ASSIGNMENT 2

ASSIGNMENT  2

Strategic Plan Part III: Balanced Scorecard and Communication Plan

 

 

Purpose of Assignment 

Students will have the opportunity to develop a Balanced Scorecard. This, in turn, will allow them to create effective strategic objectives to be included as part of their overall strategic plan. They will also be presented with the task of creating a brief communication plan that will be used by their proposed division to efficiently distribute information with regard to their strategic initiatives. 

Assignment Steps 

Resources: Strategic Planning Outline and Week 4 textbook readings 

Create a minimum 1,050-word strategic objectives summary. 

Include your balanced scorecard and its impact on all stakeholders, and the 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:
• 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
• 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

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.

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.

 

 

 

 

 

 

 

 

 

 

Strategic Plan Part III: Balanced Scorecard and Communication Plan Grading Guide

 

BUS/475 Version 7

Integrated Business Topics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Individual Assignment: Strategic Plan Part III: Balanced Scorecard and Communication Plan

 

Purpose of Assignment

 

Students will have the opportunity to develop a Balanced Scorecard.  This, in turn, will allow them to create effective strategic objectives to be included as part of their overall strategic plan.  They will also be presented with the task of creating a brief communication plan that will be used by their proposed division to efficiently distribute information with regard to their strategic initiatives.

 

Resources Required

 

Strategic Planning Outline and Week 4 textbook readings

Grading Guide

 

Content	Met	Partially Met	Not Met	Comments:
Identified key trends, assumptions, and risks in the context of student’s final business model.
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: o    Market share o    Revenues and costs o    Profitability o    Competitive position ·         Customer Value Perspective, which includes strategic objectives in areas such as: o    Customer retention or turnover o    Customer satisfaction o    Customer value ·         Process or Internal Operations Perspective, which includes strategic objectives in areas such as: o    Measure of process performance o    Productivity or productivity improvement o    Operations metrics o    Impact of change on the organization ·         Learning and Growth (Employee) Perspective, which 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
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. ·         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:

 

 

 

 

 

 

 

 

 

 

Strategic Management, Ch. 10: Business Ethics, Social Responsibility, and Environmental Sustainability

 

 

• What is the relationship between personal ethics and business ethics?

 

 

 

 

 

 

Strategic Management, Ch. 7: Implementing Strategies: Management, Operations, and Human Resource Issues

 

• What is the importance of effective communication within an organization?

 

 

 

 

 

 

 

 

University of Phoenix Material                      

Strategic Planning Outline

 

1. Title Page
2. Table of Contents

• Executive Summary

1. Strategic Plan Part 1: New Business Division of an Existing Company; Vision, Mission, and Value Proposition  
2. Strategic Plan Part 2: SWOTT Analysis – Internal and External Environmental Analysis; Primary Internal Considerations for the Development of a Strategic Plan.
3. Strategic Plan Part 3: Assumptions, Risk and Change Management Plan; Summary of Strategic Objectives; Corporate Social Responsibility: Balanced Score Card and its impact on stakeholders; the Communication Plan

• Strategies and Tactics Section
• Conclusion

1. Reference Page