Strategic Plan, Part III: Balanced Scorecard
July 10, 2014
The document relates to the methods which organizations use in creating as well as executing methods. Specifically this document would discuss the method of balanced scorecard or BSC method which is extensively getting used by big as well as small companies. To elaborate the concept papers would cope with the use of the idea to the business design of an organization known as Ace Gym. As soon as the ...view middle of the document...
To be able to attain the 10% quarterly rate of growth organization will need to employ physical fitness and health experts and instructors that would not just provide health tips to the valuable clients of the Gym but arrange for them balanced dietary charts as well as health regimes to be used.
1. B) The Gym would concentrate on boosting the profit margin by reducing the avoidable operational expenses e.g. vacationing or undesirable marketing promotions and substituting them with concentrated customer networking utilizing process and business abilities.
1. c) The Gym would concentrate on boosting its earnings. To get the objective of increasing the client spending as much as 15% Ace Gym would focus on delivering additional services such as online consultation i.e. through video conferencing. This would cause increase the spending of 30% customer base causing attaining the goal of 15%increase in customer spending.
In any kind of business client is respected the most in the company and achieving client satisfaction is essential for any kind of company. Some of the Ace Gym’s objectives would concentrate at:
2. A) Strong customer relationship is essential for any kind of company success. Similarly Ace Gym would concentrate on building and maintaining solid relationships with its dedicated and prospective customers. This could be achieved by solid promotional campaigns, newsletters, medical appointments. These methods would assist Ace Gym in accomplishing its goal of 18% increase of customer base.
2. B) Ace Gym would concentrate on providing added facilities like bonus offer to its clients e.g. together with online health consultancy and communication introducing nourishment and diet charts in the listing of facilities. These kinds of measures would assist the Gym to boost its customer base every three months by 18%
2.c) Hiring and creating a team out of professionals i.e. employing health experts as well as instructors who are not just experienced but also renowned for their knowledge as the goodwill of the Gym would be at risk working with unskilled or novice instructors.
3) Internal business processes
Ace Gym can find out the functionality of its functions and procedures utilizing this scoreboard. Some of the main focus goals for the Gym would be:
3. A) in order to boost sales and enhance customer base the Gym would concentrate on upgrading its marketing methods by advertising in electronic as well as print media.
3. B) to be able to boost efficiency of its functions and reducing costs Ace Gym would concentrate to control on the needless operational expenses. A way of doing this would be motivating workers to work from residence.
3. c) Ace Gym would develop and create devices to evaluate and keep an eye on the workers efficiency. These devices could be a combination of fiscal as well as non fiscal structure of performance assessment.
4) Research and...