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Write a 700- to 1,050-word section for your business model and
Write a 700- to 1,050-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.
- Include marketing and information technology strategies and tactics.
- Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.
- Determine the best possible options for evaluating the strategic plan.
- Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization's corporate social responsibility.
- Include in this section the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation.
Write a 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.
Note: Any investor should be eager to meet with you after reading your executive summary.
Using the University of Phoenix Business Model and Strategic Planning Outline as a guide, combine Parts 1, 2, and 3 of your completed business model strategic plan with your Final Business Plan Model assignment and Executive Summary. This includes the Business Model, Vision, Mission, Values, SWOT Analysis, Supply Chain Analysis, Balanced Scorecard, and Communication Plan from prior weeks. Your consolidated final strategic plan should be 4,200 to 5,250 words in length.
Format the paper consistent with APA guidelines.
1 Running head: BALANCED SCORECARD AND COMMUNICATION PLAN Balanced Scorecard and Communication
October 3, 2016
Professor Gregory Kosicki 2 BALANCED SCORECARD AND COMMUNICATION PLAN
Samsung is implementing its newest project of water proof cell phone. Unlike most
companies, However, before completion of the new business adventure, a balanced scorecard
must be completed to focus on short-term and long-term goals of the business in its new venture.
The balanced scorecard is simply "a set of measures that are directly linked to the company's
strategy," allowing the business to evaluate the financial, customer, process, and learning and
growth perspectives of the company (Pearce & Robinson, 2013, p. 194).
The following balanced scorecard depicts the short-term and long-term goals of Samsung
that are directly linked to the vision, mission, and values of the organization and the outcomes of
the SWOT analysis. The financial area of measures focuses on increasing profitability and
revenue while also improving the organization's competitive advantage. The customer area of
standards focuses on customer turnover, satisfaction, and safety with the goal of having complete
customer satisfaction and low turnover and security issues. The process area of measure
concentrates on the organization's internal processes of performance, communication, and
reliability of the specialized services that the community offers homeowners. The final section of
the balanced scorecard addresses the learning and growth areas of measurement, taking into
consideration the employee turnover, employee satisfaction, and employee training.
Customer Customer Measure
Customer Metric Target
5% % in Market
Value, Price, 15%
10% 60% 55% 25% 60% 90% 100% 3 BALANCED SCORECARD AND COMMUNICATION PLAN
perform up to
par Performance Communicatio
Process Reliability Employee
Training Surveys % of
n with Staff and Feedback
employees with quit or fired
e 90% 95% 100% 95% 98% 100% 95% 98% 100% 15% 12% 10% 90% 95% 100% 95% 98% 100% Potential Risks
Samsung is relying on the success of their products and faces threats from the new
venture failing or the company placing too great of a focus on one project investment. The
concentration on products puts the company at high risk if the technology doesn't have with what
the consumer is looking for.
Mitigation Plan and Stakeholder Analysis
A risk mitigation plan is one method to prepare for risks through the development of
options and actions that increase opportunities and lowers threats for the project. Once a risk is 4 BALANCED SCORECARD AND COMMUNICATION PLAN
identified, the impact of the risk is analyzed. Critical risks are further analyzed and ranked. All
risks are then tracked over time and a mitigation plan is developed to implement when needed.
The stakeholders of the project must also be analyzed to determine how the stakeholder impacts
the risk of the project and how the mitigation plan can analyze the stakeholder and their
importance and influence on mitigating the risks. The main risk for the company is a financial
downfall from the faulty product which can make or break a business. Currently, the risk that
something could go wrong with the product could have the stocks fall and potentially ruin a
company. The company must only focus on ensuring that Samsung is prepared to assume some
costs involved in their products, until word of mouth spreads, Samsung must be financially
prepared to accept costs and expenses prior to seeing profit.
One area of ethical implications that must be taken into consideration is customer
confidentiality. New technology allows us to advance in many ways, improving our quality of
life and enabling us to create machines that will accomplish tasks for us. However, having
acknowledged that interpersonal skills suffer at its hands, we must ask whether the benefits of
technology surpass the negative impact it has on social situations. In some instances, the effect
on social contact may seem minimal; interrupting a conversation to read an e-mail may not
appear to have lasting consequences. However, dealing with Internet addiction can be lifealtering for some, just as those distracted by the Web at work create problems for employers. As
we continue to integrate technology into society, we cannot ignore these more serious effects,
and must consider what we are losing in exchange for the ease of technology.
Communication Plan 5 BALANCED SCORECARD AND COMMUNICATION PLAN
A communication method is a form of organizing actions to fulfill a goal (University of Kansas,
2014). For Samsung, the connection details how information will be produced, stored, accessed,
distributed, and updated. The communication plan will be used throughout the communication of
the business model and strategic plan. Gathered information comes from multiple sources but
always links to the mission, vision, and values of the company. Any information, especially
confidential information from customers, will be stored in an encrypted file on a secure
computer. Distribution of information throughout the business will be shared through electronic
mail and face-to-face communication while the distribution of information to customers will
consist of written communications and face-to-face communication. The communication plan
will require annual review and updates. However, any changes to the business environment or its
business model or strategic plan will result in more frequent updates as needed.
The balanced scorecard addresses the goals of the organization that aligns with the mission,
vision, and values while also considering the SWOT analysis. Each goal has a measurement for
target years and includes the measuring areas of financial, customer, process, and learning and
growth. The potential risks associated with the project have been identified, and a stakeholder
analysis has been completed to ensure a mitigation plan that is appropriate for addressing the
risk. Ethical implications have been identified, and measures have been put in place to protect
the organization. Finally, a communication plan that defines communication means for within the
business and customer communications has established the use of technology to communicate,
direct written communications, and oral communications as channels to collect and distribute
information. 6 BALANCED SCORECARD AND COMMUNICATION PLAN References
Pearce, J. A., & Robinson, R. B. (2013). Strategic Management. Planning for Domestic and
Global Competition (13th ed.). Retrieved from The University of Phoenix eBook
The University of Kansas. (2014). Developing a Plan for Communication. Retrieved from
This question was answered on: Feb 21, 2020
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