April 8, 2013
Strategic Plan Part III
A balanced Scorecard was circulated by Robert Kaplan and David Norton in 1992. This measures the current performance in the financial terms; the Balanced Scorecard also evaluates the business efforts for the future improvements using the process, customer, and learning and growth metrics. This can signify the balance among short-term objectives and long-term objectives, financial measures and non-financial measures, internal performance and external performance perspectives, and any lagging indicators and leading indicators.
The financial perspective addresses the question of how the stockholders view the business and which financial goals are desired from the perspective of the shareholders. The goals will depend on the business and the stage it is in. Customer perspective will address the question of the business and how it is viewed by the customer. The customer can tell the business if it is meeting the targeted customer with the financial objectives. The internal process perspective will address the question of which processes are critical for pleasing the customers and the shareholders. Learning and Growth perspective will address the question of how the firm must learn, improve, and innovate to meet the objectives. This perspective is employee focused. Tina Angel mission statement: Provide an angel when needed. Everyone deserves to have an angel with them or in his or hers home. The store will strive to have an angel for anyone who goes into the store. People want to know there is an angel with them Tina Angel vision statement: Tina Angel vision is to have angels to everyone who wants to have an angel. Everyone who wants the comfort of an angel by his or hers side either at home or with them. People like to know that he or she has an angel by his or hers side through jewelry or figurines. Financial perspective: The new businesses have limited...