INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE 2
INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE PAGE 4
INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE PAGE 3
REVIEW: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE
SESSION LONG PROJECT
STUDENT, TRIDENT UNIVERSITY INTERNATIONAL
INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE 1
PRINCIPLES OF ACCOUNTING: MANAGERIAL ACCOUNTING-BUDGETING PAGE
PRINCIPLES OF ACCOUNTING: MANAGERIAL ACCOUNTING-BUDGETING PAGE
Abstract
For Module 2, consider your organization's mission and strategy from the perspective of its potential, prospective, and present customers. In this section of the assignment you’ll begin to identify objectives and measures relevant to that perspective. Refer back to the presentation Objectives, Measures, Targets & Action Plans if you need to.
Once you’re reasonably clear on what’s involved, think about your organization and its customers/clients/users/service recipients/whatever-you-wish-to-call-them, and then:
• Identify at least three objectives for the organization's customer service perspective and show how they relate to the mission, vision, and strategy of the organization.
• For each objective, develop at least one meaningful performance measure (metric).
• For each objective, identify at least one expected level of performance (target).
• For each objective, identify at least one new action or program that needs to be developed to ensure successful implementation of the organization's strategy (initiative).
• Comment briefly on the relationships of the customer service objectives that you've identified here to the financial objectives that you identified in the Module 1 SLP assignment. How do they help to fulfill those objectives? If they don't (and they don't have to), what makes them more important than objectives that would relate to finances?
• Finally, do you wish to make any changes to your Module 1 objective write-up in light of your Module 2 experience?
Nike Organization
Every organization should have objectives in their business plan so as to have something to gear them towards success. The objectives should be understood by the organization’s executives and also the employees. This will be of great advantage because everybody in the organization will work hard to attain the targets.
The first target of the organization is to increase the number of customers by 20% in the first financial year. This calculation of the increase will be done by subtracting the average number of customers in the previous financial year from the average number of customers in current financial year. Divide the difference with the average number of customers in the previous financial year and then multiplying by one hundred. The strategy to increase the number of customers is by increasing the type of products produced by Nike. This will attract the customers due to the variety which will not be ex.
1.4 modern child centered education - mahatma gandhi-2.pptx
INTEGRATIVE PROJECT BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE2.docx
1. INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE
CUSTOMER PERSPECTIVE 2
INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE
CUSTOMER PERSPECTIVE PAGE 4
INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE
CUSTOMER PERSPECTIVE PAGE 3
REVIEW: BSC FLEXIBILITY & THE CUSTOMER
PERSPECTIVE
SESSION LONG PROJECT
STUDENT, TRIDENT UNIVERSITY INTERNATIONAL
INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE
CUSTOMER PERSPECTIVE 1
PRINCIPLES OF ACCOUNTING: MANAGERIAL
ACCOUNTING-BUDGETING PAGE
PRINCIPLES OF ACCOUNTING: MANAGERIAL
ACCOUNTING-BUDGETING PAGE
2. Abstract
For Module 2, consider your organization's mission and
strategy from the perspective of its potential, prospective, and
present customers. In this section of the assignment you’ll begin
to identify objectives and measures relevant to that perspective.
Refer back to the presentation Objectives, Measures, Targets &
Action Plans if you need to.
Once you’re reasonably clear on what’s involved, think
about your organization and its customers/clients/users/service
recipients/whatever-you-wish-to-call-them, and then:
• Identify at least three objectives for the organization's
customer service perspective and show how they relate to the
mission, vision, and strategy of the organization.
• For each objective, develop at least one meaningful
performance measure (metric).
• For each objective, identify at least one expected
level of performance (target).
• For each objective, identify at least one new action or
program that needs to be developed to ensure successful
implementation of the organization's strategy (initiative).
• Comment briefly on the relationships of the customer
service objectives that you've identified here to the financial
objectives that you identified in the Module 1 SLP assignment.
How do they help to fulfill those objectives? If they don't (and
they don't have to), what makes them more important than
objectives that would relate to finances?
• Finally, do you wish to make any changes to your
Module 1 objective write-up in light of your Module 2
experience?
Nike Organization
Every organization should have objectives in their business plan
3. so as to have something to gear them towards success. The
objectives should be understood by the organization’s
executives and also the employees. This will be of great
advantage because everybody in the organization will work hard
to attain the targets.
The first target of the organization is to increase the number of
customers by 20% in the first financial year. This calculation of
the increase will be done by subtracting the average number of
customers in the previous financial year from the average
number of customers in current financial year. Divide the
difference with the average number of customers in the previous
financial year and then multiplying by one hundred. The
strategy to increase the number of customers is by increasing
the type of products produced by Nike. This will attract the
customers due to the variety which will not be experienced in
the other organizations of the competitors. Most customers get
attracted by businesses which have varieties because they have
different products they can choose from. (Adner, 2006) This
strategy will help Nike organization to beat its competitors and
also increase the number of customers.
The other objective of the organization is to produce quality
products for the customers. This is among the things which
attract customers to a given business. The quality of products
produced by Nike can be measured in percentage. This can be
done by measuring the durability of the products produced
earlier and that of the goods produced in the current financial
year. The strategy of fulfilling this objective is by bringing in
qualified specialists who can research on the requirements for
production of products of a higher quality, and the raw
materials needed. (Treacy, & Wiersema, 1997) This strategy
will help in increasing the number of customers, and hence
assisting in fulfilling the financial objectives like increasing the
total revenue of the organization.
The other objective of the organization is to organize annual
athletic competition which will see the organization teach the
customers on the importance of being athletic, and how to use
4. the Nike products to do this. This objective will mostly be
geared to attract customers and also to nature young talent. This
step will lead to people gaining the knowledge about Nike
products, and this will entice them to buy goods from Nike
shops. This step will increase the number of customers and also
increase the annual revenue of the organization. This objective
will help in achieving the mission and vision of the organization
because many people will participate in athletics.
Most of these objectives lead to an increase in the number of
customers in the organization. This will help in achieving the
financial objectives because an increase in customers leads to
an increase in the number of sales. Increase in the number of
sales leads to an increase in total revenue; and this is one of the
financial objectives of the organization. (Treacy, & Wiersema,
1997)
These customer objectives will also help in reducing the cost of
revenue. For example, organizing annual athletic competitions
will lead to many people knowing about the products of Nike,
and this will be enough advertisement, therefore they will save
the money they would have used in advertising their products in
the media. Therefore, consumer objectives are highly related to
the financial objectives because the consumers are the ones who
mostly help in fulfilling the financial objectives in any
organization. (Adner, 2006)
5. References
Treacy, M., & Wiersema, F., (1997), The discipline of market
leaders: Choose your customers,
narrow your focus, dominate your market, Basic Books
Adner, R., (2006), Match your innovation strategy to your
innovation ecosystem, Harvard
business review, 84(4), 98
INTEGRATIVE PROJECT: BALANCED SCORECARD & THE
FINANCIAL PERSPECTIVE 2
INTEGRATIVE PROJECT: BALANCED SCORECARD & THE
FINANCIAL PERSPECTIVE PAGE 4
INTEGRATIVE PROJECT: BALANCED SCORECARD & THE
FINANCIAL PERSPECTIVE PAGE 5
REVIEW: THE BALANCED SCORECARD & THE
FINANCIAL PERSPECTIVE
SESSION LONG PROJECT
STUDENT, TRIDENT UNIVERSITY INTERNATIONAL
6. INTEGRATIVE PROJECT: BALANCED SCORECARD & THE
FINANCIAL PERSPECTIVE 1
PRINCIPLES OF ACCOUNTING: MANAGERIAL
ACCOUNTING-BUDGETING PAGE
PRINCIPLES OF ACCOUNTING: MANAGERIAL
ACCOUNTING-BUDGETING PAGE
Abstract
The purpose of the Session Long Project is to give you the
opportunity to explore the applicability of the module to your
own life and work. This is done in a number of different ways -
sometimes with cumulative papers, sometimes with practical
hands-on experimentation, sometimes with reflections on a
place of work or life. The common thread is personal
application, aimed at demonstrating a cumulative knowledge
and understanding of the course material.
For this course, the Session Long Project will take the
form of putting together background from each of the four
perspectives for a balanced scorecard approach to an
organization or organizational unit with which you are familiar.
In the final module (Module 5), you will have a go at strategy
mapping. You won't be building a complete Balanced Scorecard
- that would be far beyond our current scope - but you’ll have a
chance to see what goes into it and how it gets put together into
a coordinated whole. As in the Cases, you’ll be drawing on your
previous coursework to help.
The Module 1 assignment has two parts. First, identify an
organization in which you have access to at least some
information concerning financial data, staffing and human
7. resource systems, marketing and customer relations, information
systems, and operations. While most material on the Balanced
Scorecard is written from the private, for-profit point of view,
it’s perfectly possible to use this approach with public or non-
profit organizations as well.
For the second part of this assignment, consider the
organization's mission and strategy from the perspective of its
financial operations (from your work on the Case, your previous
coursework, and your background reading, you should be
reasonably clear what such operations are). In this section of the
assignment you’ll begin to identify objectives and measures
relevant to that perspective. If you’re unclear on just what
objectives and measures are, here is a presentation that
describes what they are and how to write them: Objectives,
Measures, Targets & Action Plans.
When you have thought about it and made your selection,
specify (in 2–3 pages):
• The name of your organization
• What this organization does - its mission, vision, and
overall strategy
• The access you have to information about this
organization. Remember, you’ll need information about its
financial performance, marketing, internal operations, strategy,
and management systems.
Once you’re reasonably clear on what’s involved, think about
your organization and its finances, and then:
• Identify at least three objectives for improving the
organization's financial position and show how they relate to
the mission, vision, and strategy of the organization.
• For each objective, develop at least one meaningful
performance measure (metric).
• For each objective, identify at least one expected
level of performance (target).
• For each objective, identify at least one new action or
program that needs to be developed to ensure successful
implementation of the organization's strategy (initiative).
8. The organization under review in this module is Nike inc.
Nike Corporation is a multinational company that has
subsidiaries in several countries across the world with its
headquarters in Beaverton, Oregon. The organization deals with
manufacturing and distribution of sporting apparel for men,
women, and also children. The sporting clothes manufactured
and distributed by the organization are classified into several
categories depending on the type of game is categorized and
designed to be used. For instance, the organization categorizes
its sportswear into football, basketball, running and training et
al sportswear. “To bring inspiration and innovation to every
athlete in the world” is the organization’s vision statement. The
mission statement of the organization is “if you have a body,
you are an athlete”.
As indicated in its vision statement, Nike Corporation uses
innovation as its key strategy to attain success by acquiring a
competitive advantage in the industry in which it operates. The
organization also undertakes suitable strategies that enable it to
meet the needs of its customer thereby helping it achieve
maximum satisfaction for its customers. According to Mullen &
Johnson (2012), satisfaction helps to increase customer loyalty
and hence Nike Company uses maximum satisfaction for its
customers as a strategy to increase its competitive advantage.
Besides using maximum for its customer as a strategy to
outpace its competitors, Nike Corporation also undertakes
marketing strategies to help it further enhance its
competitiveness in the industry in which it operates. For
instance, the organization undertakes media advertisement for
its products, a factor that has seen it acquire a large market
share in the industry in which it operates. Also, the organization
undertakes product differentiation a factor that has further
helped it to remain equally competitive in the competitive
9. industry in which it operates. Nike Corporation gets involved in
corporate social responsibility a factor that has helped increase
its competitive advantage. It can be noted that in the course of
undertaking corporate social responsibility the organization
further continues to advertise its products and hence this gives
the organization a competitive advantage.
From the comprehensive income statement, it is evident that the
financial performance of Nike Corporation has been increasing
over years from the year 2012. The following table shows the
net income for the organization from the year 2012 to the 2014
retrieved from
http://finance.yahoo.com/q/is?s=NKE+Income+Statement&annu
al:
Year
2012
2013
2014
Net income
2,211,000
2,472,000
2,693,000
The table shows that the organization has been increasing its
profitability over years. According to Brigham & Ehrhardt
(2013), one of the objectives of any profit making organization
is profit maximization. The fact that the profitability of Nike
Company has been increasing as indicated in the table above
makes it justifiable to say that the organization has achieved its
objective of maximizing its profitability. Nike organization can
still improve its financial position. The following table shows
some of the objectives that can help improve its financial
position:
Objective
Measure
10. Target
Action
Increase the total revenue of the organization
Percentage
20%
· Carry out extensive marketing strategies
· Enter into new distribution channels in which the products of
the organization are not saturated
· Undertaking such grant strategies as vertical and horizontal
integration
Reduce the cost of revenue
Percentage
15%
· Undertake research and development programs to learn of
suitable strategies that the organization can undertake to reduce
the cost of revenue without impacting adversely on the product
quality
· Undertake supplier appraisal to learn of the suppliers who
offer quality and yet cheaper supplies to the organization.
· Research on any possible innovation that might see the
organization reduce its manufacturing costs
Reduce the operating expenses
Percentage
10%
· Undertake innovation to help reduce the manual labor force
required and hence cut on the labor costs
The above objectives can help to increase the financial position
of the organization in several ways. For instance, increasing the
revenue of the organization can result to increased profitability.
According to Zimmerman & Yahya-Zadeh (2011), increasing
the volume sales of an organization increases the unit
contribution margin and hence the total contribution margin
which in turn increases the profitability level of the
11. organization. The objective of increasing the revenue of the
organization is related to the vision of the organization since it
calls for innovation that might the organization increase its
productivity level. According to Zimmerman & Yahya-Zadeh
(2011), reducing the cost of revenue results to maximization of
the contribution margin realized by an organization and hence
increased level of profitability. As such, the objective of
reducing the cost of revenue is justifiable as a strategy to
increase the financial position of Nike Company. It is related to
the vision statement of the organization since it calls for
innovation that might reduce the manufacturing costs. Operating
expenses have an adverse impact on the net income. Hence,
reducing the operating expenses is a justifiable course of action
to improve the financial position of the Nike Company. It is
related to the vision statement of the organization since the
organization is compelled to undertake an innovation that can
see it cut on operating expenses.
12. References
Brigham, E., & Ehrhardt, M., (2013), Financial management:
theory & practice, Cengage
Learning
Nike Corporation, (2015), Mission and Vision, Retrieved from
http://www.nikeinc.com
Mullen, B., & Johnson, C., (2013), The psychology of consumer
behavior, Psychology Press
Zimmerman, J. L., & Yahya-Zadeh, M., (2011), Accounting for
decision making and
control, Issues in Accounting Education, 26(1), 258-259