BALANCED SCORECARD The balanced scorecard is used as a tool by management to measure the performance of the boutique. The aim of this balanced scorecard is to ensure that all the operations in the boutique are in line with the values, mission, and vision of the boutique. From the SWOTT analysis, we were able to identify the strengths, weaknesses, opportunities, and threats of the business. In the development of this balanced scorecard, we use all the information obtained from the SWOTT analysis to ensure success in the business. The balanced scorecard helps both employees and the management to look at organizational needs and requirements at a different perspective. Figure 1.0 : The balanced scorecard Strategic objectives Measures Targets Strategic priority Financial Perspective · F1: increase return on investment · F2: growth in profits · F3: Asset utilization · ROCE · Net margin · Cash flow · 20% · 30% · $700mm · Become a financially stable business  Customer Value Perspective · Meet client needs and requirements · Develop a good relationship with the costumers · Improve brand image · Costumer ratings · Profits earned by dealers · Portion of segment · 24% · 30% · 6.4% · Ensure costumer satisfaction · Establish a good relationship with clients Internal Operations Perspective · Cost leader · Inventory management · Innovative services and products · Perfect orders · Activity competition vs. cost · New services/ products ROI · 90%+ · 80% · 30%+ · Escalate costumer value · Excellence in operation · Establish the franchise  Learning and Growth (Employee) Perspective · Competence · Improved skills · Better leadership · Establish an organizational culture · Strategic competencies · Employee survey · Personal balanced scorecard · 24%+ · >75% · > 84% · 75% · Creating a conducive work environment · Developing a good relationship between management and staff members The strategic objectives were derived from current outcomes, research, managerial expectations, among other factors that influence the boutique’s performance. The balanced scorecard acts as a platform and catalyst for learning. The objectives were also derived from these questions; what are the common failures in the boutique’s operations? How can the boutique’s performance be measured? Does the boutique meet current demand and costumer needs? Answers to these questions and others came a long way in ensuring that the right strategic objectives were developed for the boutique. In order to link various forms of performance measurement the business is required to critically analyze the mission, values, vision, and the SWOTT analysis. The development of the strategic objective starts with one reflecting on the company’s visions, values, SWOTT analysis, and mission. In this stage, the management is required to scrutinize all ...

1. BALANCED SCORECARD
The balanced scorecard is used as a tool by management to
measure the performance of the boutique. The aim of this
balanced scorecard is to ensure that all the operations in the
boutique are in line with the values, mission, and vision of the
boutique. From the SWOTT analysis, we were able to identify
the strengths, weaknesses, opportunities, and threats of the
business. In the development of this balanced scorecard, we use
all the information obtained from the SWOTT analysis to ensure
success in the business. The balanced scorecard helps both
employees and the management to look at organizational needs
and requirements at a different perspective.
Figure 1.0 : The balanced scorecard
Strategic objectives
Measures
Targets
Strategic priority
Financial Perspective

2. · F1: increase return on investment
· F2: growth in profits
· F3: Asset utilization
· ROCE
· Net margin
· Cash flow
· 20%
· 30%
· $700mm
· Become a financially stable business
Customer Value Perspective
· Meet client needs and requirements
· Develop a good relationship with the costumers
· Improve brand image
· Costumer ratings
· Profits earned by dealers
· Portion of segment
· 24%
· 30%

3. · 6.4%
· Ensure costumer satisfaction
· Establish a good relationship with clients
Internal Operations Perspective
· Cost leader
· Inventory management
· Innovative services and products
· Perfect orders
· Activity competition vs. cost
· New services/ products ROI
· 90%+
· 80%
· 30%+
· Escalate costumer value
· Excellence in operation
· Establish the franchise
Learning and Growth (Employee) Perspective
· Competence
· Improved skills

4. · Better leadership
· Establish an organizational culture
· Strategic competencies
· Employee survey
· Personal balanced scorecard
· 24%+
· >75%
· > 84%
· 75%
· Creating a conducive work environment
· Developing a good relationship between management and staff
members
The strategic objectives were derived from current outcomes,
research, managerial expectations, among other factors that
influence the boutique’s performance. The balanced scorecard
acts as a platform and catalyst for learning. The objectives were
also derived from these questions; what are the common failures
in the boutique’s operations? How can the boutique’s
performance be measured? Does the boutique meet current
demand and costumer needs? Answers to these questions and
others came a long way in ensuring that the right strategic
objectives were developed for the boutique. In order to link

5. various forms of performance measurement the business is
required to critically analyze the mission, values, vision, and
the SWOTT analysis. The development of the strategic
objective starts with one reflecting on the company’s visions,
values, SWOTT analysis, and mission. In this stage, the
management is required to scrutinize all factors affecting
current performance before developing the new strategic
objectives (Fulmer and Goldsmith, 2001). It is very vital for the
management to define what is expected in future. In the
development of the strategic objectives, it is advisable to
consult from colleagues and top managers.
Consultation from top managers is advised, as one is able to
know the business expectations in the future. Each business
forms its goals and objectives based on the future, usually in
term of years. With the organizational strategy in place,
management now has the guide to derive its objectives and
goals. The corporate strategy guides the management in
deriving the strategic goals and objectives in relation to the set
durations. All the strategic objectives derived need to be based
on learning and growth, clients, financial growth, and
processes. The main aim of developing the strategic business
objectives is to ensure that the business improves its current
performance and profits. The key reason for any individual or
group of people to be in business is to increase profits; hence, it
is essential to develop the strategic objectives. The balanced
scorecard methodology associates each objective with a series
of targets and measures. Through the scorecard, each of the
developed Goals is achieve in time with a few or no deviations.
The balanced scorecard cascades measurements and objectives
down to individuals, business units, and even teams.
The goals and objectives to be developed require a clear
scrutiny of the SWOTT analysis, mission, vision, and values of
the boutique. Failure to match the set objectives with the
business’s vision and mission would bring about immense
failure. The management has two alternatives in the
management of the boutique: either take charge of the

6. boutique’s direction or respond to industrial forces beyond their
management. Obviously, taking control of the business is the
best alternative, and the way to control the business is by
creating realistic objectives. The strategic objectives are aimed
at helping the business become competitive in the market
(Winslow, 1996). The process of developing the strategic
objectives starts with an evaluation of its current performance
followed by a prediction of what is expected in the future. The
mission statement of the boutique is supposed to define the
business’s core in brief. For instance, the mission of the
boutique should be to become the best clothing company for the
clients. This way all the goals and objectives set will be aimed
at ensuring success. The balanced scorecard comes a long way
in ensuring that the set objectives are specific, measurable,
attainable, realistic, and time bond (SMART). Before deriving
the objectives, it is important to evaluate internal factors such
as staff, market share, financial resources, and intellectual
property.
External factors such as emerging technology, costumer base,
economic conditions, vendors, and competitors also need to be
analyzed before the derivation of the business objectives. All
the information gathered from the SWOTT analysis should be
used in the development of the goals and objectives. This helps
management to identify the factors that will assist or hinder
their ability to achieve all set objectives. The strategic
objectives need to have deadlines, this helps to ensure
accountability and responsibility. The staff members also need
to be divided into group and be in charge of certain objectives.
Defining the specific needs that require to be addressed in the
strategic objectives makes it easier for all to achieve their tasks.
A lot of communication and consultation is required in the
process of developing the strategic objectives. After all the
strategic objectives are set the next step is to develop the
balanced scorecard that acts as a guide to the management on
how these objectives will be achieved.
The objectives set will differ based on factors such as size of

7. the business, business vision and mission statements, business
target and the industry of operation. Proper organization of the
set strategic organization leads to easy and fast achievement of
all the goals in time. The balanced scorecard is one of the best
approaches towards achieving the strategic objectives. The
boutique needs to adopt this approach if they are to succeed in
achieving all the set objectives in time.
References
Winslow, W. (1996). Strategic business transformation:
Achieving strategic objectives through business re-engineering.
London: McGraw-Hill.
Fulmer, R. M., & Goldsmith, M. (2001). The leadership
investment: How the world's best organizations gain strategic
advantage through leadership development. New York:
AMACOM.
Running Head: SWOT ANALYSIS
1
SWOTT ANALYSIS
SWOTT Analysis
Introduction
The purpose of this paper is to conduct an internal and external
environmental analysis for my fashion clothing boutique-custom
made and tailoring business by taking into consideration the
external forces/ trends as well as internal forces and trends
including the legal and regulatory, global, economic,

8. technogical, innovation, social, environmental and competitive
analysis. The external forces and trends include the following
areas:
Legal and regulatory
The business is registered as a private firm and certified to
carry its services within the field of purchasing and selling
custom made clothing. Most of its mission is to be conducted all
over the globe. The activities of this business are regulated by
the relevant authorities in this field.it is for this reason that we
keep our business activities in conjunction with the various
legal environments that we operate in.
Global
The firm has developed a global reputation for its pioneer work
in designing and tailoring new clothing that as per the
requirements of the clients and also been up to the global
fashion trends. The business is currently joining the global
platform by being the sponsor of various models in beauty
contests all over the world. This is achieved by dressing
selected models throughout the contest. In short our products
are being marketed by the models. This is an indication that the
work of the business is growing globally.
Economic
The products of our business (name) are economical. The first
time that a client visits the facilities, they are given an
attendant who guides them on the products we have and also
takes the customers’ requirements and provides the client with
the most economical cost ever. After coming into a consensus
with the client, the client is the required to commit him or
herself with a ten percent down payment of the total cost of the
job. This means that the company invests its resources in
meeting the clients’ needs before even generating revenue from
the jobs and for large scale jobs we also issue discounts to our
customers.
Technological
The firm has invested heavily on modern and up to date

9. machines that are used to execute customer jobs and orders from
all over the globe. We have also invested in software that helps
in designing and improving the needs of various jobs and orders
that we get. For the financial presentation, we have installed
systems that help us monitor our resources and also the jobs
categorizing the different items as either assets or liabilities.
We also invest on research and development to enable being
more innovative and inventive.
Innovation
We have greatly invested in research for our products to
improve on our creativity. We develop new clothing lines
regularly and also carry out talent promotion activities to tap
the talents outside the firm. We conduct talent show in fashion
designs and the winners of these shows are then absorbed in our
firm, given further training and motivation to produce even
better products. The fashion world is very dynamic and we have
to be ahead of this dynamism, our products are always on the
top of various magazine covers due to the value we have added
to our products.
Social
Our products have been accepted all over the globe and we are
interested in the customers’ feedback so we have developed a
website whereby we get the feedback from our global
community. We also undertake corporate social responsibilities
within our business outlets in various locations. These CSR
activities are developed to benefit the communities we exist in
and thank the entire client population as well as marketing
ourselves to acquire new clients.
Environmental
We operate within the social and cultural environment that
practices free markets economies all over the globe. The clients
are drawn from all over the world especially through our market
strategies online and they appeal more to people in the fashion

10. and beauty industry. A research we recently indicates that in the
contemporary society today , our first time clients tend to be
as it is evident in the Supermarkets, TV ,internet and print
media being flooded with messages and products selling the
ideas of how to maintain fashion. We operate in a very dynamic
environment and as such we are equally dynamic and we put the
desires and needs of the clients first.
Competitive analysis
The fashion and design industry has become a massive market
all over the globe which has given rise to lots of competition in
this field. The current obsession with body looks, fashion and
beauty has opened doors for more research and development in
the field of fashion and design. This is where our innovation
and creativity has brought new changes and we are able to
produce new products frequently.
Internal forces and trends considerations:Strategy
Our strategy as a company is based around the concept of
innovation and creativity. The products being offered are unique
compared to others in the markets. We consider customer
service as the only way of approaching the new clients and also
the means of providing better products to our clients.
Structures
The products are centered on the clients’ demands. The client
is the biggest concern and the main target. The end goal is the
client who is given the priority;
a discount is offered or/ a special price so that he/she can be
back for more. The client is the VIP who often gets special and
personalized treatment as well as deriving the highest value for
the money paid.
We also have a talented team of management and other
personnel who drive the organization towards achieving its
targets. We have representatives all over the globe who steer
our businesses.
Processes and systems
Our employees are meant to care and provide the best of the

11. best to the clients. The motto behind these products is to go
beyond the imaginations of the client. The supply chain
operation of this organization begins with consultations with the
clients followed by other assessments, placing the orders and
delivering the product as per the customer’s requirements. We
have a controlled way of doing things and there are always no
delays in our production system and the end of this process is
when we finally receive payment from the client after satisfying
their needs.
Resources
Our aim is always to finish a customer job in the shortest time
possible and to allocate more resources to the big jobs. In short
we re-evaluate our resources allocation as per the number of
orders we have. We have also invested heavily on our personnel
and greatly motivate them to undertake the various jobs that
require a lot of creativity and innovations. For financial
resources, we try to be as economic in applying them where
they are best required. We have plans to get listed so as to raise
more expansion capital for our un-ending demand of our
products.
SWOTT analysis-most of this analysis is done in the essay this
is just a summary.
STRENGTHS
WEAKNESS
OPPORTUNITIES
THREATS
TRENDS
Our products are based around the clients. The client is the VIP
and gets proper treatment and special notice.
The delivery of our customer jobs on time and the marketing
channels we have all over the market places us in the forefront
of the customers mind. The personnel we recruit are client
needs oriented thus giving the best products to the market.

12. It’s not clear how we will be able to adapt to change in the
areas of legislation and culture. We operate under different
legal environments and we invest a lot of our resources trying to
adhere to the legislations There is also the aspect of the
dynamism in the fashion industry that requires a lot of resource
to handle.
We have come up with innovations in this field by conducting
continuous research thus improving our creativity, and
innovations.
We have many untapped markets which we intend to venture in
to.
The flooding of the markets also means that there is need for
new strategies, research and development in the discovery and
provision of quality products affordable to our clients.
Fashion and design is a dynamic world and we need more
investment in research and development to input the findings on
our products backed by intensive creativity and innovations.
Conclusion
We are currently on the right path and we have continuously
experienced growth in our business. There is however more
room to expand and with continuous research and constant
acting on the clients’ feedback, we can get there. Since the
industry is fast growing with different kinds of demand daily,
we shall beat our odds and become one of the globe’s best
designers.
References
Hill, T, J. (2005). Manufacturing Strategy: Text and Cases.
Macmillan, Basingstoke
Bowman, C. (2000). The Essence of Strategic Management.

13. Prentice Hall, Hemel Hempstead
Minzberg, H. (2004).The Rise and fall of Strategic Planning.
Prentice Hall, Hemel Hempstead
Hunger,J. (2005). Strategic Management and Business Policy.
5th Edition, Chap. 6, Addison-Wesley, Reading, MA
Weirich, H. (2012). The tows matrix-a tool for situational
analysis: Long Range Planning.
Running Head: BUSINESS
1
BUSINESS
4
Strategic Plan 1
Starting a business that will be successful is hard even if a
person has all the required resources and time. This is because a
lot has to be put into consideration before the process begins.
Much research on the chosen field should be made if the
business is to be a success. This should be made in order to
avoid the loss of time and finances since much risks is involved.
Starting and maintaining a successful business is hard since
much dedication, sacrifice and a massive amount of hard work
is required. The business should also be driven by its mission
and its vision so that it can be able to achieve the purpose it was
intended to. A business vision is its key to success and without
it effective business planning would be impossible to achieve.
The business vision provides the direction in which the business
is heading to. The vision and the mission of the business should

14. go hand in hand and one should be used to comp0limante the
other or one can be used to achieve the other. Before business
vision or mission statements are made a lot should be
considered. They include the goals and objectives and the plans
of the business.
Establishing a fashion boutique is very difficult since in the
fashion industry styles change every day and one have to keep
up with the changing trends in order to be marketable. First and
foremost one has to be quite clear on the style that they would
prefer to sell. It can either be punk, fancy, casual or rock. Once
this has been made then the business mission and vision can be
created in relation to the fashion product. The vision statement
of the boutique will be to provide the latest trends in the fashion
market by everyone for anyone and affordable price to all.
Operating a fashion boutiques is made difficult since different
people have got different fashion taste and all of this tastes
need to be meet. So, the one operating the boutique must be
conversant with all the trends in the business and be able to
advice one appropriately depending on the occasion or purpose
one is buying a cloth.
As the vision of the business clearly states, the boutique will
always be providing the latest fashion trends in the market by
everyone. This is to show that the boutique will not be choosing
the designer of the clothing but as long as the cloth is
fashionable, the boutique will be selling it, this thus shows that
the boutique is willing to offer the public the latest trends in all
the categories of fashion and will not be a specific wear shop
like a shirt shop or dress shop. By being able to provide all
types of wear: men and women, the boutique will have a larger
scope or clients. The clients will range from business people to
teenagers to working class ladies. They will thus a have a large
market in which to supply and thus be successful and make
profits. By also offering all forms of design, they will be able to
satisfy all the public’s demand. Also like the vision states, the
boutique will be providing their clients the latest fashion in the
market at an affordable price. This thus means that they care for

15. the people and would not like to exploit them of their finances.
They will thus have faithful and loyal clients which will be of
great benefits for the success of the business.
The mission of the company is used to describe what the
business does. The mission shows what the business does how
they do it, to whom they do it for and why they do it. This
shows the summary of what the business deal with. The mission
statement of the fashion boutique will be: we are a business that
provides the latest fashion trends in the market at all times, by
ensuring that we are in conduct with the world so that our
clients can be satisfied and be able to dress well. The mission
thus shows the boutique will always have the best and latest
fashion in the market at all times and that their goal is to keep
their clients happy and well-dressed so that they can be
confident. Its shows that customer satisfaction is their number
one concern always. The mission statement shows the
uniqueness of the business. It tells your clients what you are all
about and what your greatest priority in the business is.
Different people have got different cultures and this might have
a major influence on what they wear. A good example is of the
Hindu who has a particular cloth for their men and women. In
Hindu women’s clothes are designed for them to be graceful
while the men’s clothes are for comfort and warm climates. The
women clothes include the sari and the chuli while men outfits
are the lungi and the dhoti. So, when setting up a fashion
boutique, the culture of the surrounding people was greatly
considered so that the business can be relevant and have buying
clients. The type clothing being sold in the boutique should not
encourage the people of the surrounding areas to wear
indecently and be immoral. The clothing provided should not
encourage immorality and should not go against the code of
clothing ethics.
The boutique's future in business greatly depends on its
mission, vision and value statement. A great deal of time was
spent in coming up with them and they are the ones that help to
define the strategy, directions and decisions made in the fashion

16. boutique. Through the vision, mission and values, the strategic
plan of the business can be made and implemented accordingly.
The path in which the business is to take is made clear and one
can work towards their objectives and goals in order to make
the business a success.
The business can address the client's need by offering a variety
of styles in clothes. This gives the clients a variety from which
they can choose from. The business can achieve a competitive
advantage by providing tailor made services as well. This means
that if a client cannot be able to get something of their taste
from the available collection, then something unique can be
tailored just for them. This will include the design and size they
want. By doing this the clients are made happy and satisfied.
The boutique can now have a competitive advantage over their
competition who just sells clothing.