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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
- 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.
Format your assignment consistent with APA guidelines.
Develop a minimum of 700-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.
- Identify marketing and information technology as part of the strategies and tactics section of the business plan.
- Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
- Determine the best possible options for evaluating the strategic plan.
- Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization’s corporate social responsibility.
- Show, in this section, the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation.
Prepare a minimum 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.