June 23, 2014
Beginning a new business venture sounds like a easy task. All you need is a great idea, opportunity to select your team so you can begin to make some moves and find a few investors to invest in to this dream you have. Before you know it you are making a profit and moving onto a new location. Sounds easy but there is much more that goes into starting a new business than most people may know. To accomplish this, the business has to satisfy several objectives that exclusively add to the business. This paper will narrate some of the particulars of previous works from week two, three, and four with information such as the business and strategic plan and the balanced scorecard, all three essential in the success of the transition center.
Strategic Objectives, Measures, and Targets
Profitability is the most important strategic objective for a business to be long lasting and successful. If the business is not competitive enough to make a profit, there is no reason in continuing the business venture. For that reason, there is a need to put into place financial objectives. When it comes to the idea of decreasing and maintaining a maximum gain or profit changes will need to happen. One thing the center can do is look into finding other avenues to assist clients in being properly prepared for their interviews. To accomplish this, requirement of ensure clients are properly attired will need to change. Originally the idea was to have a clothing bank for clients to have for their interviews. The clothing bank would be supplied by donations of clothing from employees to start. Unfortunately, to keep the clothing bank supplied, the company will have fund raisers to supply attire to clothing bank. However, it is not necessary to purchase new items, they can be purchased from the local Salvation Army store.
Methods to Monitor and Control the Proposed Strategic
References: Pearce, John A. , & Robinson, Richard B. . (2009). Strategic management. formulation, implementation, and control. United States: McGraw-Hill. Vargo, Stephen L. and Robert F. Lusch (2004a), “Evolving to a New Dominant Logic for Marketing,” Journal of Marketing, 68 (January), 1-17. Sawhney, Mohanbir and Deval Parikh (2001), “ Where Value Lives in a Networked World,” Harvard Business Review, 79 (1), 79-86. Thompson, Arthur A. , Gamble, John E. , & Strickland, A. J. (2006). Strategy: winning in the marketplace: core concepts, analytical tools, cases. United States: McGraw-Hill Companies. MacDonald, Denise. (2008, October 15). Mcdonald 's marketing strategy. Retrieved from http://www.macdonaldconsultingservices.com/post/2008/10/McDonalds-Marketing-Strategy.aspx Balance Scorecard Institute., (2011 June 20). What is the balanced scorecard? Retrieved from http://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx