Expert answer:Strategic Plan Part III: Balanced Scorecard and Co

  

Solved by verified expert: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 shareRevenues and costsProfitabilityCompetitive positionCustomer Value Perspective, which includes strategic objectives in areas such as:Customer retention or turnoverCustomer satisfactionCustomer valueProcess or Internal Operations Perspective, which includes strategic objectives in areas such as:Measure of process performanceProductivity or productivity improvementOperations metricsImpact of change on the organizationLearning and Growth (Employee) Perspective, which includes strategic objectives in areas such as:Employee satisfactionEmployee turnover or retentionLevel of organizational capabilityNature of organizational culture or climateTechnological innovationEvaluate 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.
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Strategic Plan Part III: Balanced
Scorecard and Communication Plan
Grading Guide
BUS/475 Version 7
Integrated Business Topics
Copyright
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Strategic Plan Part III: Balanced
Scorecard and Communication
Plan Grading Guide
BUS/475 Version 7
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
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
Met
Partially
Met
Not Met
Comments:
2
Strategic Plan Part III: Balanced
Scorecard and Communication
Plan Grading Guide
BUS/475 Version 7
Content

Met
Partially
Met
Not Met
Total
Available
Total
Earned
6
#/6
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.
Comments:
3
Strategic Plan Part III: Balanced
Scorecard and Communication
Plan Grading Guide
BUS/475 Version 7
Writing Guidelines
Met
Partially
Met
Not
Met
Total
Available
Total
Earned
2
#/2
8
#/8
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.
Assignment Total
Additional comments:
#
Comments:
4
Strategic Planning Outline
BUS/475 Version 7
1
University of Phoenix Material
Strategic Planning Outline
I. Title Page
II. Table of Contents
III. Executive Summary
IV. Strategic Plan Part 1: New Business Division of an Existing Company; Vision, Mission, and Value Proposition
V. Strategic Plan Part 2: SWOTT Analysis – Internal and External Environmental Analysis; Primary
Internal Considerations for the Development of a Strategic Plan.
VI. 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
VII. Strategies and Tactics Section
VIII. Conclusion
IX. Reference Page

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