Question Details

Individual Assignment Strategic Plan
My organization is Morgan Hotel
Individual Assignment: Strategic Plan, Part III: Balanced Scorecard

• Resources: Exhibit 7-1 in Ch. 7 of Strategic Management

•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. You need to address the following four areas of the balanced scorecard when developing your strategic objectives:
o Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:

• Increase Market share
• Increase Revenues and lower costs
• Improve Profitability
• Improve Competitive position

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

• Increase Customer retention or turnover
• Increase Customer satisfaction
• Increase Customer value

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

• Improve process performance
• Increase Productivity 


o Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
• Increase Employee satisfaction
• Increase Employee turnover or retention
• Increase Level of organizational capability
• Increase Nature of organizational culture or climate
• Increase 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), so you will have a total of 12 broad strategic objectives. 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.
o Create, in chart format, a table with the following headings ACROSS THE TOP: Scorecard area, strategic objective, metric, target, specific tactics to achieve the target. Do not use the 4 sided diagram in the text
o Then for each strategic objective, develop a metric and target using the chart you created. (For example, a strategic objective in the  Financial Perspective is toincrease 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" or an increase of 2% per year for 3 years.
• Write a 700- to 1,050-word summary that explains your critical thinking on how you derived your strategic objectives from your vision, mission, values, and SWOTT analysis. Most students earn ZERO on this part as they do not describe the linkage or alignment of their chosen strategic objectives with the specifics of their mission/vision/values. For example if a value you have is superior customer service you could discuss how one or more strategic objectives are linked to achieving this value.

• Format paper according to APA guidelines
 


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