Identify potential risks and mitigation plans

Assignment Help Operation Management

Reference no: EM131748561

Business idea : This business was to cover all the needs of the clients who needed assistance in cleaning their homes because most of the clients are busy at their workplaces and their children are at home and may have made a mess of the place.

Assignment Steps

Create a minimum 1,050-word strategic objectives summary.

Include your balanced scorecard and its impact on all stakeholders, and the communication plan.

Identify key trends, assumptions, and risks in the context of your final business model.

Develop the strategic objectives for your new division of the existing business in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your 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, which includes strategic objectives in areas such as:

Market share

Revenues and costs

Profitability

Competitive position

Customer Value Perspective, which includes strategic objectives in areas such as:

Customer retention or turnover

Customer satisfaction

Customer value

Process or Internal Operations Perspective, which includes strategic objectives in areas such as:

Measure of process performance

Productivity or productivity improvement

Operations metrics

Impact of change on the organization

Learning and Growth (Employee) Perspective, which 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

Evaluate potential alternatives to the issues and/or opportunities identified in the SWOTT Analysis assignment and table you completed in Week 3.

Create at least three strategic objectives for each of the four balanced scorecard areas. Base your solutions on a ranking of alternative solutions including the following:

Identify potential risks and mitigation plans.

Analyze a stakeholder and include mitigation and contingency strategies.

Incorporate ethical implications.

Develop a specific metric and target for each strategic objective using a balanced scorecard format.

Example: a strategic objective in the shareholder or financial perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, "The percentage of increase in market share." The target is the specific number to be achieved in a particular time period. The target for the metric of "Increase market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years.

Outline a brief communication plan discussing how you will communicate the company's strategic objectives including the following:

Define the purpose.

Define the audience.

Identify the channel(s) of communication and why you selected that channel.

Format your assignment consistent with APA guidelines.

Reference no: EM131748561

Questions Cloud

What will be the defective cost per unit : If an inspector is hired, what will be the inspection cost per unit? what will be the defective cost per unit?

Operations and supply chain-marketing and strategy : identify researchable topic of your interest in areas of business such as Finance, operations and supply chain, marketing, strategy and general business issues.

Explain training design-selecting methods for training : Explain Training design/Selecting methods for training

How he led the group alibaba up to the top of e-commerce : Write 4-5 paragraphs describing the qualities of Jack Ma as a leader and how he led the group Alibaba up to the top of E-commerce

Identify potential risks and mitigation plans : Identify potential risks and mitigation plans. Analyze a stakeholder and include mitigation and contingency strategies. Incorporate ethical implications.

Management implications for the integration of the practices : What are some of the project management implications for the integration of the practices?

Environments associated with organization strategic plan : Analyze the impact of the external and internal environments associated with an organization’s strategic plan.

Lettuce each day to ensure really fresh produce : The local supermarket buys lettuce each day to ensure really fresh produce. How many boxes of lettuce should the supermarket purchase tomorrow?

Create readiness in others to pursue positive change : In what specific ways will you create readiness in others to pursue positive change?

User Account

All Pages