Balanced Scorecard And Communication Plan Essay

886 words - 4 pages

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan

The balanced scorecard is vital for a healthy growing business. It is an essential
component for defining the goals and targets of the business. "The Balanced Scorecard is a tool that is widely used to help a company achieve its financial objectives by linking them to specific strategic objectives derived from the company's business model" (Pearce, 2013 ). This paper will reference Stater Bros. Kiddie Korner's values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard that ...view middle of the document...

We will accomplish this objective by implementing customer satisfaction surveys, and mystery shopper program. To better serve our customers we will evaluate the demand for service through the utilization of customer zip codes. State Bros. Kiddie Korner division will work to increase and monitor its brand image in the market.
Internal Process
At Kiddie Korner, we strive to enhance the internal process to improve efficiency within the new division. This portion of the scorecard focuses on improving technology and processes to increase customer satisfaction. Our objective is to increase employee productivity, decrease marketing cost, and improve safety. We will accomplish this goal by implementing training programs, enhancing our technology, utilize social media and low-cost television ads for marketing, and implement days away from the work program. These goals will be measured by offering monthly employee surveys and weekly reports. This portion of the scorecard focuses on improving technology and processes to increase customer satisfaction.
Learning and Growth
The Kiddie Korner division's objective is to improve competencies and offer continuous education in the department. The Sater Bros. mission is to offer excellent service in a safe and friendly environment. To meet this goal, we will offer our employees skill building programs on site along with certification programs. We will work to have 80 percent of our employees trained within the first year.

|  |Balanced Score Card |
|  |Objective |Measure |Target |Initiative |
| Financial &|Profitability |Increase in |15% revenue in a|Offering Childcare will increase customer time |
|Results |( Increase Margins) |profit(Reports) |year |spent in store which will increase sales |
| |Manage operating cost |Operating cost |Decrease by 2% in|Decrease hours during low traffic times |
| | |evaluations |the first year | |
| | | | | |
| |Improve Sales |Use sales reports |Increase sales by|Offer free product samples throughout the store/ |
| | |monitor sale |5% in the first |offer group deals on childcare for families |
| | |increases |six months | |
| | | | | |
|Customer ...

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