Strategic Plan: Balanced Scorecard and Communication Plan
Write a 1,050- to 1,400-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 SWOT analysis and supply chain 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 SWOT Analysis paper 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 that includes the following:
- Identify potential risks and mitigation plans
- Analyze a stakeholder and include mitigation and contingency strategies.
- Incorporate ethical implications
Outline a brief communication plan discussing how you will communicate the company's strategic objectives that includes the following:
- Define the purpose.
- Define the audience.
- Identify the channel(s) of communication and why you selected that channel.
Format paper consistent with APA guidelines.