7 of Strategic Management
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 them consider the vision, mission, and values for your\u00a0 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, includes strategic objectives in areas such as:
Market share
Revenues and costs
Profitability
Competitive position
Customer Value Perspective, includes strategic objectives in areas such as:
Customer retention or turnover
Customer satisfaction
Customer value
Process or Internal Operations Perspective, includes strategic objectives in areas such as:
Measure of process performance
Productivity or productivity improvement
Operations metrics
Learning and Growth (Employee) Perspective, 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
Develop at least two\u00a0 strategic objectives for each of the following four balanced scorecard\u00a0 areas identified above (Financial, Customer, Process, Learning and\u00a0 Growth). Your objectives should be selected, in part, based on an\u00a0 evaluation of a number of potential alternatives to the issues and\/or\u00a0 opportunities identified in the SWOTT Analysis paper and table you\u00a0 completed in Week Three. Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and\u00a0 mitigation plans, and a stakeholder analysis that includes mitigation\u00a0 and contingency strategies. You should also incorporate the ethical\u00a0 implications of your solutions into your selection.
For each strategic\u00a0 objective, develop a metric and target using a balanced scorecard\u00a0 format. (For example, a strategic objective in the shareholder or\u00a0 Financial Perspective is to increase market share. A metric to actually\u00a0 measure this strategic objective of market share increase is, \u201cThe\u00a0 percentage of increase in market share.\u201d The target is the specific\u00a0 number to be achieved in a particular time period. The target for the\u00a0 metric of \u201cIncrease market share\u201d could be \u201cIncrease market share by 2%\u00a0 for each of the next 3 years\u201d of an increase of 2% per year for 3\u00a0 years.)
Write a 700- to\u00a0 1,050-word summary that explains your critical thinking on how you\u00a0 derived your objectives from your vision, mission, values, and SWOTT\u00a0 analysis.
Format paper consistent with APA guidelines <\/p>\n","protected":false},"excerpt":{"rendered":"
7 of Strategic Management 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 them consider the vision, mission, and values for your\u00a0 business and the outcomes of your SWOTT analysis. Consider the following four quadrants of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[15],"class_list":["post-60445","post","type-post","status-publish","format-standard","hentry","category-research-paper-writing","tag-business"],"_links":{"self":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/60445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/comments?post=60445"}],"version-history":[{"count":0,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/posts\/60445\/revisions"}],"wp:attachment":[{"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/media?parent=60445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/categories?post=60445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/papersspot.com\/blog\/wp-json\/wp\/v2\/tags?post=60445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}