Balanced Score Card Week 4
Balanced Score Card Week 4
A balanced scorecard is a critical foundation in guiding organizations strategic plan, it also provides a road-map for the completion of objectives. These objectives link the company 's long-term goals originating from the company 's vision, mission, and values. In developing the balanced scorecard for Cloward Cuts (CC) the following strategic objectives were set up as road-map for the company to use. Taken into consideration were the financial, customer value, processes, and employee growth and learning objectives (See Appendix A for Balanced Scorecard).
Financial Objectives
In determining the company’s financial objectives, it is important to reflect on consumer wants, competition, and customer satisfaction within the business, as evaluated in the SWOT analysis. The first strategic objective found within the organization 's financial perspective is to increase the organization 's market share. “Our diversified business model is one of the keys to our success. Each of our brands is managed within a coalition structure: Outdoor & Action Sports, Jeanswear, Sportswear, Contemporary Brands and Imagewear. This structure enables us to leverage our size, scale and global expertise across each coalition, while ensuring that each brand is managed by leaders who are deeply connected to their brands” . As of 2012 revenue for Contemporary Brands are at four percent of profitThis magnitude of this objective gains its value as the percentage increase in market share grows after adding two trainers per market. Measuring the percentages will assist the organization in determining if they have attained their vision, which involves annual increase of 2% in the market share.
The strategic objective of increasing profit the margin correlates with the company’s vision by increasing pricing of products used to enhance training intentions while keeping the training sessions themselves at a competitive rate allowing its customers to afford the
A balanced scorecard is a critical foundation in guiding organizations strategic plan, it also provides a road-map for the completion of objectives. These objectives link the company 's long-term goals originating from the company 's vision, mission, and values. In developing the balanced scorecard for Cloward Cuts (CC) the following strategic objectives were set up as road-map for the company to use. Taken into consideration were the financial, customer value, processes, and employee growth and learning objectives (See Appendix A for Balanced Scorecard).
Financial Objectives
In determining the company’s financial objectives, it is important to reflect on consumer wants, competition, and customer satisfaction within the business, as evaluated in the SWOT analysis. The first strategic objective found within the organization 's financial perspective is to increase the organization 's market share. “Our diversified business model is one of the keys to our success. Each of our brands is managed within a coalition structure: Outdoor & Action Sports, Jeanswear, Sportswear, Contemporary Brands and Imagewear. This structure enables us to leverage our size, scale and global expertise across each coalition, while ensuring that each brand is managed by leaders who are deeply connected to their brands” . As of 2012 revenue for Contemporary Brands are at four percent of profitThis magnitude of this objective gains its value as the percentage increase in market share grows after adding two trainers per market. Measuring the percentages will assist the organization in determining if they have attained their vision, which involves annual increase of 2% in the market share.
The strategic objective of increasing profit the margin correlates with the company’s vision by increasing pricing of products used to enhance training intentions while keeping the training sessions themselves at a competitive rate allowing its customers to afford the