Strategic Plan Part III

Purpose of Assignment

Students will have the opportunity to develop a Balanced Scorecard.
This, in turn, will allow them to create effective strategic objectives
to be included as part of their overall strategic plan. They will also
be presented with the task of creating a brief communication plan that
will be used by their proposed division to efficiently distribute
information with regard to their strategic initiatives.

Assignment Steps

Resources: Strategic Planning Outline and Week 4 textbook readings

Create a minimum 1,050-word strategic objectives summary.

Include your balanced scorecard and its impact on all stakeholders, and the communication plan.

Identify key trends, assumptions, and risks in the context of your final business model.

Develop the strategic objectives for your new
division of the existing business in a balanced scorecard format in the
context of key trends, assumptions, and risks. The strategic objectives
are measures of attaining your vision and mission. As you develop them,
consider the vision, mission, and values for your business and the
outcomes of your SWOTT analysis.

Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:

• Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as:
  • Market share
  • Revenues and costs
  • Profitability
  • Competitive position
• Customer Value Perspective, which includes strategic objectives in areas such as:
  • Customer retention or turnover
  • Customer satisfaction
  • Customer value
• Process or Internal Operations Perspective, which includes strategic objectives in areas such as:
  • Measure of process performance
  • Productivity or productivity improvement
  • Operations metrics
  • Impact of change on the organization
• Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as:
  • Employee satisfaction
  • Employee turnover or retention
  • Level of organizational capability
  • Nature of organizational culture or climate
  • Technological innovation

Evaluate potential alternatives to the issues and/or
opportunities identified in the SWOTT Analysis assignment and table you
completed in Week 3.

Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions including the following:

• Identify potential risks and mitigation plans.
• Analyze a stakeholder and include mitigation and contingency strategies.
• Incorporate ethical implications.

Develop a specific metric and target for each strategic objective using a balanced scorecard format.

Example: a strategic objective in the
shareholder or financial perspective is to increase market share. A
metric to actually measure this strategic objective of market share
increase is, “The percentage of increase in market share.” The target is
the specific number to be achieved in a particular time period. The
target for the metric of “Increase market share” could be “Increase
market share by 2% for each of the next 3 years” of an increase of 2%
per year for 3 years.

Outline a brief communication plan discussing how you will communicate the company’s strategic objectives including the following:

• Define the purpose.
• Define the audience.
• Identify the channel(s) of communication and why you selected that channel.

Format your assignment consistent with APA guidelines.

****I HAVE ATTACHED MY PART 1 AND PART 2 ASSIGNMENTS AS THEY ALL HAVE TO BE ON THE SAME TOPIC*****