Strategic Plan

Topics: Strategic management, Management, Balanced scorecard Pages: 5 (1521 words) Published: September 17, 2013
Strategic Plan III: Balanced Scorecard

The balanced scoreboard which are Financial; Customer; Process; Learning and Growth; goes hand in hand with that of what strategic planning is.   With the strategic planning, you review the Strengths, Weaknesses, Opportunities, Threats and Trends business management would have to deal through its life cycle. With that being said, let us look at some of the actions and measurements being taken for the balanced scoreboard.   One of the first objectives to review is that of the financial perspective and the actions that will come with this.   They are cost effective and competitive pricing.   The measures that will be utilized to be remedied by getting the most for our money without getting too cheap that it can extremely noticeable that the item or product is not made with quality.   It is realized that the revenue that is brought in from the business is partly used for the products that were bought for the business.   Keeping this in mind, the pricing of admissions, products, and refreshments offered, we will stay competitive but making sure that we are charging an amount that will be able to bring in revenue of approximately five thousand by the end of the month.   In the next objective to be reviewed is the Customer perspective which deals with that of what the needs of the customers are.   The actions to be dealt with are customer satisfaction and customer safety.   The way satisfaction will be measured will be by utilizing the surveys such as the when the families are checked out on the way out of the door, they will be asked one question.   The cashier/checkout will input this information that was relayed by the customer. It will go into a bank which will eventually be listed in categories based on the amount of customers that wanted to see this be added, deleted, changed, enhanced, or decreased.   Another objective will be the Learning & Growth perspective which is the action of dealing with satisfied employees and satisfied customers.   The measures that will be taken to monitor how well things are going is completing surveys, keeping video footage of customers such as an interview while they are on site about different things they like or dislike.   In dealing with employees, knowing them and hear their concerns, will assist in being able to provide for their needs within reason as you keep the professionalism with the family atmosphere.   This is a necessity and will provide the needed training to be to establish this.   Lastly, the Business Process perspective is an objective that deals with quality and quantity. The need to have products is important but making sure you have quality with the quantity is just as important.   You cannot just provide a product or service; you have to make sure that what you are offering is quality.   If you buy a cheap product then you are going to get something cheap.   This is not what the customers are looking for.   This will add to the reputation of the business in a negative way. This is not how the business needs to be seen as having items that are made cheaper with products or services that are not of quality. Doing research will allow for companies to be found that offer materials for the products at a good price to bring together. To show what the balanced scoreboard should look somewhat like, it is as follows. The importance of a balanced scoreboard is to look at the most importance aspects of concerns for all the strengths, weaknesses, opportunities, threats and trends for “Anything Goes” to reduce the likelihood of failure for the business. Once it is created, it is then continuously measured to see if the actions to be taken and the objective to be utilized were actually a good solution or if another solution needs to be thought of.   One other aspect of these things is looking at it in an ethical standpoint, as to whether the things that are done would be an ethical action or not.   Legally these...
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