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Write a 700- to 1,050-word section for your business model and
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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

 

April McCullough

 

BUS/475

 

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).

 

Balanced Scorecard

 

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.

 

Areas for

 

Measures

 

Financial Strategic

 

Objective

 

Increase

 

Profitability

 

Increase

 

Revenue Competitive

 

Advantage

 

Customer Customer Measure

 

Market Value

 

Costs and

 

Expenses

 

Economic

 

Value

 

Customer Metric Target

 

Year 1

 

5% % in Market

 

Share

 

Operating

 

70%

 

Expense

 

Ratio

 

Value, Price, 15%

 

and Cost

 

Customer

 

85% Target

 

Year 2

 

7% Target

 

Year 3

 

10% 60% 55% 25% 60% 90% 100% 3 BALANCED SCORECARD AND COMMUNICATION PLAN

 

Satisfaction Satisfaction

 

Feedback

 

Ability to

 

perform up to

 

par Performance Communicatio

 

n

 

Process Reliability Employee

 

Turnover Employee

 

Satisfaction

 

Learning

 

and

 

Growth Employee

 

Training Surveys % of

 

Specialized

 

Services

 

Completed

 

Effective

 

Staff and

 

Communicatio Customer

 

n with Staff and Feedback

 

Customers

 

Reliability of

 

% of

 

Customer

 

Specialized

 

Services on

 

Services

 

Schedule

 

Completed

 

on Schedule

 

Employ

 

Employees

 

employees with quit or fired

 

high morale

 

in compared

 

to all

 

employees

 

Employee

 

Employee

 

Customer

 

Surveys

 

Service Skills

 

Improve

 

Employee

 

Employee

 

Performanc

 

Training

 

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.

 

Ethical Implications

 

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.

 

Conclusion

 

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

 

Collection database.

 

The University of Kansas. (2014). Developing a Plan for Communication. Retrieved from

 

http://ctb.ku.edu/en/table-of-contents/participation/promoting-interest/communicationplan/main

 







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