Reference no: EM13927233

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
• Impact of change on the organization
• 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 three strategic objectives for each of the four balanced scorecard areas identified (Financial, Customer, Process, Learning and Growth).

Base your solutions on a ranking of alternative solutions that includes an identification of potential risks and mitigation plans, and a stakeholder analysis that includes mitigation and contingency strategies. You should also incorporate the ethical implications of your solutions into your selection.

For each strategic objective, develop a metric and target using a balanced scorecard format. (For 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 that includes the following:

Define the purpose.
Define the audience.

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

Write a 1,050- to 1,400-word strategic objectives summary. Include your balanced scorecard and its impact on all stakeholders, and the communication plan.