Strategic Objective Summary

Topics: Strategic management, Year Two, Balanced scorecard Pages: 6 (1221 words) Published: April 13, 2015


Strategic Objective Summary
Ed Mathewson
BUS/475-INTEGRATED BUSINESS TOPICS
3/23/15
Nels Holmgren

Balanced Scorecard

Targets

Strategic Objectives
Measurements
Year 1
Year 2
Year 3
Metric
Financial
Improve profits
Return on investment capital
3%
5%
7%
The market will allow us to determine our marketing sharing results. There should be an increase of 2% each year for our marketing sharing.

 
Improve profit margin
2%
4%
6%

 
 
 
 
 

Increase market sharing
Market sharing bottom line each year
2%
2$
2%

 
 
 
 
 

Put us on top in our industry
Total customers and profits
5%
6%
8%

 
 
 
 
 

Customer ->
Customers will help grow our business
Utilize customer's property to make a profit
25%
30%
50%
Customer that allows us to place solar panels on them will be measured and increased each year.

 
 
 
 
 

Increase our customer base
Our customer base each year
5%
10%
15%

 
 
 
 
 

Customer' satisfaction increased
Yearly survey showing the results
1%
3%
5%

 
 
 
 
 

 
 
 
 
 

Internal Processes ->
Place panels on customer property
Customers with solar panels on their property
10%
20%
40%
Panels placed on customer's property and feeding back to our new location that will store the energy to be resold to others.

 
 
 
 
 

Open need department and hire employees
Department opened and increase of employees
2%
3%
10%

 
 
 
 
 

Develop a storage of energy location
Building built to store energy from customers
25%
50%
100%

 
 
 
 
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 
 

Learning ->
Make needed changes after each year
Improve on issues that occur
10%
10%
10%
Environmental savings will be helped by not needing to use natural resouces100% of the time. Our employee’s satisfaction will increase as we get bigger and provide training to help improve our business.

 
 
 
 
 

Employee satisfaction increased
Yearly survey showing the results
2%
3%
5%

 
 
 
 
 

Help save the environment
The need of natural resources becoming less
10%
25%
50%

 
 
 
 
 

 
 
 
 
 

Outline of Communication Plan
Purpose
Introduction to new department
Changes that are coming
Increase in our business
Unity Group
Audience
Customers
I. Needed for this to be successful
II. Make this change about everyone involved
Employees
I. Shows employees innovation continues
II. Growth for all
Shareholders
I. Future looking brighter
II. Time to take over the industry
Channel of communication
Letter to our customers
I. Makes sure all of our customers received notice
II. Make the letter an eye opener for the future
III. Show customers then can begin making a profit
A date for a community meeting to discuss questions or concerns I. Shows everyone we are here for them
II. Questions may come up that we did not think about
III. Being available shows everyone we care
Memo to employees
I. Blunt and to the point
II. Make sure all employees received notification
III. Make ourselves available for questions or concerns
Strategic Objective Summary
After compiling data that completed my balanced scorecard there were several objectives that were determined. Each objective has its own measure, metric and targets for the next 3 years. Once our new department gets implemented we will be able to follow the guidelines of out balance scorecard to determine the progress our company is making in becoming successful as we plan. In addition, our success plays a big part in our stakeholders and their ability to move forward with our plan. My balance scorecard will be a great tool in determine the success at which our company is head towards. According to our text “The scorecard allows managers to evaluate the company from four perspectives:...
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