Strategic Plan, Part Iii: Balanced Scorecard
Strategic Plan, Part III: Balanced Scorecard
Courtney Bullard
BUS/475 – Integrated Business Topics
December 9, 2012
Fredric Hibbler
A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). Healthy Place needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to the Healthy Place mission, values, vision, and SWOTT analysis.
Shareholder Value/Financial Perspective “If we succeed how we will look to our stakeholders” (BSI 2009, ¶5). Body by Design Health and Fitness will need to look at its asset utilization, customer satisfaction, increased net revenues, minimizing supply production, and achieving financial stability. One way to measure these items is to monitor Earnings per share, Operating cost, revenue growth, Return on interest, and Return on capital. Implementing the objectives and performance measuring tools into the company’s daily routing, Body by Design Health and Fitness will be able to achieve the company’s goals that were defined in the mission and vision statement.
Customer Value Perspective “To achieve our mission, how must we appear to our customers?” (BSI 2009, ¶5). Body by Design Health and Fitness is a new company to the Dallas downtown area and the customers will be the ones determining the success of the company. Customer satisfaction, increase in market share, the delivery of products and services that are consistent with value and quality to everybody including special populations, increase in public awareness and visibility in the community in a way that will engage and expand community support and improve the fitness centers brand
Courtney Bullard
BUS/475 – Integrated Business Topics
December 9, 2012
Fredric Hibbler
A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). Healthy Place needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to the Healthy Place mission, values, vision, and SWOTT analysis.
Shareholder Value/Financial Perspective “If we succeed how we will look to our stakeholders” (BSI 2009, ¶5). Body by Design Health and Fitness will need to look at its asset utilization, customer satisfaction, increased net revenues, minimizing supply production, and achieving financial stability. One way to measure these items is to monitor Earnings per share, Operating cost, revenue growth, Return on interest, and Return on capital. Implementing the objectives and performance measuring tools into the company’s daily routing, Body by Design Health and Fitness will be able to achieve the company’s goals that were defined in the mission and vision statement.
Customer Value Perspective “To achieve our mission, how must we appear to our customers?” (BSI 2009, ¶5). Body by Design Health and Fitness is a new company to the Dallas downtown area and the customers will be the ones determining the success of the company. Customer satisfaction, increase in market share, the delivery of products and services that are consistent with value and quality to everybody including special populations, increase in public awareness and visibility in the community in a way that will engage and expand community support and improve the fitness centers brand