Integrated Business Topics: Balanced Scorecard
Running head: BALANCED SCORECARD 7 Running Head: BALANCED SCORECARD � PAGE * MERGEFORMAT �1�
Balanced Scorecard
BUS/475: Integrated Business Topics
January 25, 2010
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Balanced Scorecard
Creating mission and vision statements are the initial steps of strategic management, "the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company 's objectives" (Pearce & Robinson, 2009, p. 3). Establishing _what the business is_ and _where it wants to go_ leads to the development of strategic objectives that identify "what must be done to realize the vision and mission of a business" (University of Phoenix, 2009, para. 2). Knowing what must be done is not enough; a set of specific actions …show more content…
The strategic objective of increasing customers fulfills the financial perspective. The company vision of becoming the leading provider can be possible by establishing partnerships with dental providers, which is the basis for the partnership strategic objective. The mission statement states, _to provide a variety of keepsakes_ is the basis for the strategic objective of offering a new product line every two years, which also fulfills the innovation opportunity identified in the SWOTT …show more content…
Improving the use of technology in production and increasing workforce knowledge and skills will improve efficiency, quality innovative products, and the ability to offer new product lines. Improving technology in service will aid in increasing the amount of customers. Maintaining employee satisfaction results in improved efficiency and providing quality products.
The My First Teeth Keepsakes ' values, C_ustomers are priority one, What we do, we do for you,_ and _It 's a lifelong memento for someone; take a moment in your life to make it right_ are inherent in the creation of the strategic objectives. The business was created to address an unfulfilled customer need of protecting, preserving and displaying baby teeth with memorable innovative quality products that parents will cherish.
The SWOTT analysis opportunities of innovation are incorporated in the creation and development of the keepsakes and
Balanced Scorecard
BUS/475: Integrated Business Topics
January 25, 2010
�
Balanced Scorecard
Creating mission and vision statements are the initial steps of strategic management, "the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company 's objectives" (Pearce & Robinson, 2009, p. 3). Establishing _what the business is_ and _where it wants to go_ leads to the development of strategic objectives that identify "what must be done to realize the vision and mission of a business" (University of Phoenix, 2009, para. 2). Knowing what must be done is not enough; a set of specific actions …show more content…
The strategic objective of increasing customers fulfills the financial perspective. The company vision of becoming the leading provider can be possible by establishing partnerships with dental providers, which is the basis for the partnership strategic objective. The mission statement states, _to provide a variety of keepsakes_ is the basis for the strategic objective of offering a new product line every two years, which also fulfills the innovation opportunity identified in the SWOTT …show more content…
Improving the use of technology in production and increasing workforce knowledge and skills will improve efficiency, quality innovative products, and the ability to offer new product lines. Improving technology in service will aid in increasing the amount of customers. Maintaining employee satisfaction results in improved efficiency and providing quality products.
The My First Teeth Keepsakes ' values, C_ustomers are priority one, What we do, we do for you,_ and _It 's a lifelong memento for someone; take a moment in your life to make it right_ are inherent in the creation of the strategic objectives. The business was created to address an unfulfilled customer need of protecting, preserving and displaying baby teeth with memorable innovative quality products that parents will cherish.
The SWOTT analysis opportunities of innovation are incorporated in the creation and development of the keepsakes and