Balanced Scorecard Paper
Create a hypothetical business that will compete in an industry in which you are interested. Using knowledge gained from this course and previous coursework; develop the strategic objectives for your business in the format of a balanced scorecard. The strategic objectives are measures of attaining your vision and mission. As you develop the vision, mission, and values for your business, also a SWOT analysis should be considered AND conveyed in your paper. Be sure to consider all of the following four quadrants of the balanced scorecard when developing your strategic objectives:
1. Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
a. Market share
b. Revenues and costs
c. Profitability
d. Competitive position
2. Customer Value Perspective, includes strategic objectives in areas such as:
a. Customer retention or turnover
b. Customer satisfaction
c. Customer value
3. Process or Internal Operations Perspective, includes strategic objectives in areas such as:
a. Measure of process performance
b. Productivity or productivity improvement
c. Operations metrics
4. Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
a. Employee satisfaction
b. Employee turnover or retention
c. Level of organization capability
d. Nature of organization culture or climate
e. Technological innovation
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? Fortune: Columns include features on the marketplace, tech movers and shakers, career trends, U.S. politics, and European business.
? Harvard Business Review: Premier forum of the business world written by authorities in business and business education.
? Money Week: Comment and analysis of UK and international financial news, with investment and financial advice.
? Wall Street Journal: Premier source for the latest global business and financial news.
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