In this lesson you learned that a balanced approach to setting objectives involves Financial and Strategic objectives. You also learned that financial objectives are lag indicators while strategic objectives are lead objectives.
Kevin Shaw is a highly strategic and analytical business leader with over 10 years of experience leading process improvement and change management initiatives across diverse sectors. He is a certified Six Sigma Black Belt who has piloted and implemented numerous Lean projects realizing millions in cost savings and streamlined operations. As Senior Manager at Wholesome Harvest Baking, he increased productivity and efficiency through Lean implementations. Prior, as Six Sigma Black Belt at Maple Leaf Foods, he successfully completed projects identifying over $40 million in savings and coached Green Belt projects resulting in operational improvements.
This was the final presentation that my group presented to the judges at the 2009 Business Policy Strategy Competition. We placed 2nd overall and also won 1st place for best business plan and annual report. I served as the Vice President of Marketing.
The DIGBY Corporation Board of Directors met on December 6, 2018 to review the company's vision, strategy, financial performance, and future outlook. DIGBY's vision is to provide customized products that perfectly match customer demands in the sensor industry. The company employs a broad differentiation strategy, operating as both a cost leader and quality leader across its product segments. DIGBY leads the market in several product segments and saw increased revenue, profits, and stock price in 2018. The Board believes the executive team should continue leading the company due to its strong growth, understanding of economic conditions, and time-tested success in managing diversified operations.
This document discusses the Baldwin Company and its industry. It provides information on Baldwin's products, market share, sales growth, profit, and contribution margin. It also discusses challenges Baldwin faced, such as inefficient spending and being late to adopt total quality management practices. The document suggests ways for Baldwin to utilize cash, such as developing new products, increasing capacity, and paying off long-term debt. It reflects on what Baldwin did right and lessons that can be applied to business careers, emphasizing skills like organization, communication, and adapting strategy.
Vivek Gupta is seeking a middle or entry-level role in sales, marketing, business development, or strategic planning in the pharmaceutical or FMCG sector. He has 9.5 years of experience in sales, marketing, and business operations. Currently working as a Product Specialist at Biocon Ltd, he previously worked at Panacea Biotec Ltd as a Business Development Executive for 5.5 years. He has demonstrated success in leading operations, growing business organically, analyzing markets, establishing client relationships, and achieving sales targets.
This document discusses international strategy and provides an overview of key concepts. It covers motives for international diversification, factors influencing international business strategies, and three types of international corporate strategies: multidomestic, global, and transnational. It also examines opportunities and outcomes of international strategies, including higher returns and innovation. Risks of international diversification like political and economic risks are also outlined.
Innopreneur Management Consultancy (IMC), a well-established consulting company; with headquarter in Dubai, UAE, focused on providing a wide range of management consulting services to companies in different industries.
Kevin Shaw is a highly strategic and analytical business leader with over 10 years of experience leading process improvement and change management initiatives across diverse sectors. He is a certified Six Sigma Black Belt who has piloted and implemented numerous Lean projects realizing millions in cost savings and streamlined operations. As Senior Manager at Wholesome Harvest Baking, he increased productivity and efficiency through Lean implementations. Prior, as Six Sigma Black Belt at Maple Leaf Foods, he successfully completed projects identifying over $40 million in savings and coached Green Belt projects resulting in operational improvements.
This was the final presentation that my group presented to the judges at the 2009 Business Policy Strategy Competition. We placed 2nd overall and also won 1st place for best business plan and annual report. I served as the Vice President of Marketing.
The DIGBY Corporation Board of Directors met on December 6, 2018 to review the company's vision, strategy, financial performance, and future outlook. DIGBY's vision is to provide customized products that perfectly match customer demands in the sensor industry. The company employs a broad differentiation strategy, operating as both a cost leader and quality leader across its product segments. DIGBY leads the market in several product segments and saw increased revenue, profits, and stock price in 2018. The Board believes the executive team should continue leading the company due to its strong growth, understanding of economic conditions, and time-tested success in managing diversified operations.
This document discusses the Baldwin Company and its industry. It provides information on Baldwin's products, market share, sales growth, profit, and contribution margin. It also discusses challenges Baldwin faced, such as inefficient spending and being late to adopt total quality management practices. The document suggests ways for Baldwin to utilize cash, such as developing new products, increasing capacity, and paying off long-term debt. It reflects on what Baldwin did right and lessons that can be applied to business careers, emphasizing skills like organization, communication, and adapting strategy.
Vivek Gupta is seeking a middle or entry-level role in sales, marketing, business development, or strategic planning in the pharmaceutical or FMCG sector. He has 9.5 years of experience in sales, marketing, and business operations. Currently working as a Product Specialist at Biocon Ltd, he previously worked at Panacea Biotec Ltd as a Business Development Executive for 5.5 years. He has demonstrated success in leading operations, growing business organically, analyzing markets, establishing client relationships, and achieving sales targets.
This document discusses international strategy and provides an overview of key concepts. It covers motives for international diversification, factors influencing international business strategies, and three types of international corporate strategies: multidomestic, global, and transnational. It also examines opportunities and outcomes of international strategies, including higher returns and innovation. Risks of international diversification like political and economic risks are also outlined.
Innopreneur Management Consultancy (IMC), a well-established consulting company; with headquarter in Dubai, UAE, focused on providing a wide range of management consulting services to companies in different industries.
The document provides an overview of Team AndrewsBusiness 499's strategy and performance over 8 years. Their overall strategy focused on being the leader in the high end, traditional, and low end market segments through cost leadership and product lifecycle management. Key metrics for success included ROA of 40%, ROE of 40%, and ROS of 20%. Over the 8 years, they introduced several new products, adjusted marketing budgets, expanded and reduced production capacity, and issued bonds and loans while retiring debt and stock.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
Procter & Gamble underwent organizational restructuring. It started migrating to a global matrix structure in the 1990s to improve knowledge sharing and standardize activities across regions. This led to cost savings but also issues with strategic alignment between functions. In 2005, P&G dismantled the matrix into Global Business Units (GBUs), Market Development Organizations (MDOs), and Global Business Services (GBS) to increase agility. The new structure aimed to accelerate innovation globalization but instead increased brands and decision power concentrated in individuals, causing clashes between GBUs and MDOs.
Siemens is a 160-year-old German company that originally focused on electrical products but has diversified globally into new markets. It depends heavily on HR to select and train employees, and deliver quality products and services to customers while expanding offerings in different countries and strengthening its brand image through organizational structure and competencies. Key HR policies and activities include developing a vision and strategy, choosing the right strategy to implement, and translating this into HR practices that support competencies like continuous learning, cultural adaptation, teamwork, and goals through training and development.
The report summarizes the company's strategy, SWOT analysis, financial performance, and projections for shareholders. Key points include:
- The company differentiates through product lifecycle focus and segments into traditional, low end, and high end markets. Research and development and marketing are strategic focuses.
- SWOT analysis examines contribution margins, market share, customer awareness, cash flow, and financial ratios over time compared to competitors.
- Financial analysis using the DuPont model shows the company outperforming competitors on metrics like return on equity and assets.
- Future projections estimate growing earnings per share, share price, revenues and returns for shareholders through dividends and stock appreciation.
1. Digby realized its true production potential and planned capacity accordingly to reduce unused assets and depreciation.
2. Underestimating market demand for its products led Digby to lose potential sales and profits to competitors.
3. Analyzing product segments revealed some products had low margins, so Digby cut underperforming segments to focus on more profitable ones.
ACCO July 20 2016 Tactics for Effectively Communicating Climate Change revJohn Friedman
This document discusses tactics for effectively communicating climate change to senior decision makers. It recommends identifying how climate change aligns with a company's existing strategic objectives and vision. It also suggests candidly assessing how the company's operations may impact climate change and communicating this using a materiality assessment that maps climate change issues against the company's priorities. The goal is to demonstrate how addressing climate change can help a company achieve its existing business goals.
This document provides an agenda and materials for Greif's 2017 Investor Day event. It includes:
1) A safety briefing and housekeeping notes for the event.
2) Language on forward-looking statements and non-GAAP financial measures.
3) An agenda for presentations on Greif's businesses and financials, followed by Q&A sessions.
4) An introduction from the CEO on Greif's goals for the event, including reviewing transformation progress, strategy, and growth plans through 2020.
The document outlines various strategic management concepts including comprehensive strategic planning models, long-term objectives for companies, and different types of strategies such as intensive strategies, diversification strategies, defensive strategies, and Michael Porter's generic strategies. Key terms related to strategic management concepts such as acquisitions, divestitures, mergers, and different integration strategies are also defined.
HOW CAN YOU LEARN WHAT STRATEGIES ARE USED BY MARKETIERS? THIS ONE EXPLAINS ALL BUSSINESS STRATEGIES USED IN MARKETING.WHAT IS THE NATURE OF LONG TERM STRATEGIES? HOW EXPEIENCED SEE IT? WHAT ARE MARKETING MANAGERS LOOKING FOR?
The document presents a Balanced Scorecard and performance dashboard created for ExxonMobil's upstream business unit. The Balanced Scorecard includes objectives and key performance indicators across four perspectives: financial, customer, internal processes, and learning and growth. The performance dashboard will monitor performance on the Balanced Scorecard and help execute the company's strategy of addressing tough energy challenges like oil sands extraction and growing the natural gas market.
The document provides an overview of a presentation by a group called Blaze Footwear Plc to their management game. It includes an introduction outlining the objectives of the game. It then discusses Blaze's initial positioning, goals to become a market leader, and their strategic plan to achieve this through differentiation, flexible strategies, and optimizing their strategic mix including pricing, operations, distribution, marketing and financing. An update is given on Blaze's improved performance in year 11 versus competitors and goals are outlined to address continuing credit rating and market underperformance through expanding to Latin America.
This document provides an overview of Chester Inc, a sensor company that simulates different business strategies and product offerings across multiple practice rounds. It discusses Chester's business strategy of targeting high-end, niche segments with technologically superior products. It also summarizes their product line, financial performance, successful and unsuccessful decisions made, and lessons learned around strategic coordination between business units, awareness of competitors and stakeholders, and considering different perspectives.
The Ferris Company utilized a unique strategy to win the simulation, focusing on satisfying customers and maximizing contribution margins. Their strategy maintained a presence in all market segments by distinguishing products with excellent design and keeping research and development, production, and material costs low. This allowed them to compete on price while increasing automation. In later rounds, they introduced new high-end products, bought more capacity, invested in quality management, and managed finances appropriately, learning that profitability was more important than market share.
The document is an annual report for Digby Sensors covering years 2013-2022. It discusses the company's original strategy of being a cost leader focused on product life cycle. Digby launched one product initially and revised it to target the high-tech market in years 1-2. The company invested heavily in marketing and sales for this product but forecast sales conservatively, limiting accessibility and sales. Digby aimed to lower costs and prices through increased automation to gain market share over time.
CPOs today are aggressively & proactively working towards defining the performance criteria that will be used to measure procurements contribution to business objectives. Savings being one of the key performance attributes linked to procurement, in this session Matthew Weinberg, Senior Manager from Cubist Pharmaceuticals will be sharing his insights into the approach adopted by Cubist to track and report on the savings generated through different sourcing initiatives.
Capsim Strategic Management Simulation: First Place. We simulated developing silicon wafers for 6 rounds representing 6 years. We chose broad differentiation as a a strategy. Even though I was CEO for round 5 & 6, I drove the strategy starting round 1
Greif kansas city and chicago investor meetings (widescreen)greif2015
- The document provides an overview of Greif's investor meetings in Kansas City and Chicago scheduled for July 7-8, 2016.
- It includes forward-looking statements, non-GAAP financial measures, and safe harbor statements for investors.
- Greif updated its 2016 financial guidance at its Q2 2016 earnings, improving expectations for Class A EPS, free cash flow, and restructuring expenses based on the progress of its transformation activities.
The document outlines Chester Company's strategy to pursue an integrated approach of cost leadership and differentiation. It focused on investing conservatively during the recession through total quality management to reduce costs and increase demand. As the recession ended, Chester increased R&D investment in all products, poured money into sales budgets, and raised capacity while maintaining effects of TQM to lower costs and increase demand. A SWOT analysis identified strengths in promotional budgets, R&D, and cash position, while weaknesses included stocking out and forecasting ability. Opportunities included exploiting poorly run competitors and limiting recession effects, while threats included economic downturn and new competitors.
Digby provided a report to shareholders with the following key points:
1. Digby promised a steady 10% annual increase in stock prices over the next 5 years.
2. Digby has achieved cost structure stability through investments in quality, capacity, and total quality management programs that lowered costs compared to competitors.
3. Digby has the highest market share dominance due to early promotional marketing and research and development that has led to high product awareness and accessibility rates.
4. While Digby only pays a 0.5% dividend currently, there is potential to increase this in the future to match industry averages of 2% and further reward shareholders.
Introduction to Corporate and Functional Objectivestutor2u
This document discusses corporate and functional objectives in business strategy. It defines corporate objectives as those that relate to the business as a whole and provide strategic focus, measure overall performance, inform decision-making, and set the direction for more detailed functional objectives. Functional objectives are set for each major business function and are designed to ensure the achievement of corporate objectives. The relationship between the two is that functional objectives act as servants to achieve the master corporate objectives. An example hierarchy moves from a corporate objective of increasing market share to a functional objective of successfully launching new products to achieve that goal. Objectives should also be SMART - specific, measurable, achievable, relevant and time-bound.
The document discusses organizational objectives and how they function to control, motivate, and direct a business. It explains that objectives can be set at different levels and should meet the SMART criteria. The relationship between aims, objectives, strategies, and tactics is explored. Common strategic objectives like profit maximization and growth are outlined. The importance of ethics, corporate social responsibility, and social/environmental auditing are also summarized.
The document provides an overview of Team AndrewsBusiness 499's strategy and performance over 8 years. Their overall strategy focused on being the leader in the high end, traditional, and low end market segments through cost leadership and product lifecycle management. Key metrics for success included ROA of 40%, ROE of 40%, and ROS of 20%. Over the 8 years, they introduced several new products, adjusted marketing budgets, expanded and reduced production capacity, and issued bonds and loans while retiring debt and stock.
This document discusses strategic entrepreneurship and organizational renewal. It defines key terms like entrepreneurship, innovation, and imitation. It describes different types of innovation and discusses how firms can pursue internal corporate venturing through both autonomous and induced strategic behavior. The document also outlines how cross-functional teams, cooperation, acquisitions, venture capital, and IPOs can help firms create value through innovation.
Procter & Gamble underwent organizational restructuring. It started migrating to a global matrix structure in the 1990s to improve knowledge sharing and standardize activities across regions. This led to cost savings but also issues with strategic alignment between functions. In 2005, P&G dismantled the matrix into Global Business Units (GBUs), Market Development Organizations (MDOs), and Global Business Services (GBS) to increase agility. The new structure aimed to accelerate innovation globalization but instead increased brands and decision power concentrated in individuals, causing clashes between GBUs and MDOs.
Siemens is a 160-year-old German company that originally focused on electrical products but has diversified globally into new markets. It depends heavily on HR to select and train employees, and deliver quality products and services to customers while expanding offerings in different countries and strengthening its brand image through organizational structure and competencies. Key HR policies and activities include developing a vision and strategy, choosing the right strategy to implement, and translating this into HR practices that support competencies like continuous learning, cultural adaptation, teamwork, and goals through training and development.
The report summarizes the company's strategy, SWOT analysis, financial performance, and projections for shareholders. Key points include:
- The company differentiates through product lifecycle focus and segments into traditional, low end, and high end markets. Research and development and marketing are strategic focuses.
- SWOT analysis examines contribution margins, market share, customer awareness, cash flow, and financial ratios over time compared to competitors.
- Financial analysis using the DuPont model shows the company outperforming competitors on metrics like return on equity and assets.
- Future projections estimate growing earnings per share, share price, revenues and returns for shareholders through dividends and stock appreciation.
1. Digby realized its true production potential and planned capacity accordingly to reduce unused assets and depreciation.
2. Underestimating market demand for its products led Digby to lose potential sales and profits to competitors.
3. Analyzing product segments revealed some products had low margins, so Digby cut underperforming segments to focus on more profitable ones.
ACCO July 20 2016 Tactics for Effectively Communicating Climate Change revJohn Friedman
This document discusses tactics for effectively communicating climate change to senior decision makers. It recommends identifying how climate change aligns with a company's existing strategic objectives and vision. It also suggests candidly assessing how the company's operations may impact climate change and communicating this using a materiality assessment that maps climate change issues against the company's priorities. The goal is to demonstrate how addressing climate change can help a company achieve its existing business goals.
This document provides an agenda and materials for Greif's 2017 Investor Day event. It includes:
1) A safety briefing and housekeeping notes for the event.
2) Language on forward-looking statements and non-GAAP financial measures.
3) An agenda for presentations on Greif's businesses and financials, followed by Q&A sessions.
4) An introduction from the CEO on Greif's goals for the event, including reviewing transformation progress, strategy, and growth plans through 2020.
The document outlines various strategic management concepts including comprehensive strategic planning models, long-term objectives for companies, and different types of strategies such as intensive strategies, diversification strategies, defensive strategies, and Michael Porter's generic strategies. Key terms related to strategic management concepts such as acquisitions, divestitures, mergers, and different integration strategies are also defined.
HOW CAN YOU LEARN WHAT STRATEGIES ARE USED BY MARKETIERS? THIS ONE EXPLAINS ALL BUSSINESS STRATEGIES USED IN MARKETING.WHAT IS THE NATURE OF LONG TERM STRATEGIES? HOW EXPEIENCED SEE IT? WHAT ARE MARKETING MANAGERS LOOKING FOR?
The document presents a Balanced Scorecard and performance dashboard created for ExxonMobil's upstream business unit. The Balanced Scorecard includes objectives and key performance indicators across four perspectives: financial, customer, internal processes, and learning and growth. The performance dashboard will monitor performance on the Balanced Scorecard and help execute the company's strategy of addressing tough energy challenges like oil sands extraction and growing the natural gas market.
The document provides an overview of a presentation by a group called Blaze Footwear Plc to their management game. It includes an introduction outlining the objectives of the game. It then discusses Blaze's initial positioning, goals to become a market leader, and their strategic plan to achieve this through differentiation, flexible strategies, and optimizing their strategic mix including pricing, operations, distribution, marketing and financing. An update is given on Blaze's improved performance in year 11 versus competitors and goals are outlined to address continuing credit rating and market underperformance through expanding to Latin America.
This document provides an overview of Chester Inc, a sensor company that simulates different business strategies and product offerings across multiple practice rounds. It discusses Chester's business strategy of targeting high-end, niche segments with technologically superior products. It also summarizes their product line, financial performance, successful and unsuccessful decisions made, and lessons learned around strategic coordination between business units, awareness of competitors and stakeholders, and considering different perspectives.
The Ferris Company utilized a unique strategy to win the simulation, focusing on satisfying customers and maximizing contribution margins. Their strategy maintained a presence in all market segments by distinguishing products with excellent design and keeping research and development, production, and material costs low. This allowed them to compete on price while increasing automation. In later rounds, they introduced new high-end products, bought more capacity, invested in quality management, and managed finances appropriately, learning that profitability was more important than market share.
The document is an annual report for Digby Sensors covering years 2013-2022. It discusses the company's original strategy of being a cost leader focused on product life cycle. Digby launched one product initially and revised it to target the high-tech market in years 1-2. The company invested heavily in marketing and sales for this product but forecast sales conservatively, limiting accessibility and sales. Digby aimed to lower costs and prices through increased automation to gain market share over time.
CPOs today are aggressively & proactively working towards defining the performance criteria that will be used to measure procurements contribution to business objectives. Savings being one of the key performance attributes linked to procurement, in this session Matthew Weinberg, Senior Manager from Cubist Pharmaceuticals will be sharing his insights into the approach adopted by Cubist to track and report on the savings generated through different sourcing initiatives.
Capsim Strategic Management Simulation: First Place. We simulated developing silicon wafers for 6 rounds representing 6 years. We chose broad differentiation as a a strategy. Even though I was CEO for round 5 & 6, I drove the strategy starting round 1
Greif kansas city and chicago investor meetings (widescreen)greif2015
- The document provides an overview of Greif's investor meetings in Kansas City and Chicago scheduled for July 7-8, 2016.
- It includes forward-looking statements, non-GAAP financial measures, and safe harbor statements for investors.
- Greif updated its 2016 financial guidance at its Q2 2016 earnings, improving expectations for Class A EPS, free cash flow, and restructuring expenses based on the progress of its transformation activities.
The document outlines Chester Company's strategy to pursue an integrated approach of cost leadership and differentiation. It focused on investing conservatively during the recession through total quality management to reduce costs and increase demand. As the recession ended, Chester increased R&D investment in all products, poured money into sales budgets, and raised capacity while maintaining effects of TQM to lower costs and increase demand. A SWOT analysis identified strengths in promotional budgets, R&D, and cash position, while weaknesses included stocking out and forecasting ability. Opportunities included exploiting poorly run competitors and limiting recession effects, while threats included economic downturn and new competitors.
Digby provided a report to shareholders with the following key points:
1. Digby promised a steady 10% annual increase in stock prices over the next 5 years.
2. Digby has achieved cost structure stability through investments in quality, capacity, and total quality management programs that lowered costs compared to competitors.
3. Digby has the highest market share dominance due to early promotional marketing and research and development that has led to high product awareness and accessibility rates.
4. While Digby only pays a 0.5% dividend currently, there is potential to increase this in the future to match industry averages of 2% and further reward shareholders.
Introduction to Corporate and Functional Objectivestutor2u
This document discusses corporate and functional objectives in business strategy. It defines corporate objectives as those that relate to the business as a whole and provide strategic focus, measure overall performance, inform decision-making, and set the direction for more detailed functional objectives. Functional objectives are set for each major business function and are designed to ensure the achievement of corporate objectives. The relationship between the two is that functional objectives act as servants to achieve the master corporate objectives. An example hierarchy moves from a corporate objective of increasing market share to a functional objective of successfully launching new products to achieve that goal. Objectives should also be SMART - specific, measurable, achievable, relevant and time-bound.
The document discusses organizational objectives and how they function to control, motivate, and direct a business. It explains that objectives can be set at different levels and should meet the SMART criteria. The relationship between aims, objectives, strategies, and tactics is explored. Common strategic objectives like profit maximization and growth are outlined. The importance of ethics, corporate social responsibility, and social/environmental auditing are also summarized.
Running head: Implementation Strategy 1
Jessica Richards
Purdue Global University
MT460-01: Management Policy and Strategy
December 20, 2018
Developing implementation action plan
Introduction: objectives
This implementation plan is designed for Andrews Company for the year ending December 31st 2023. The main purpose of developing this implementation plan is to develop comprehensive and multifaceted strategic action plans to help address issues that are critical to the success or failure of the company.
Objectives of different departments in the company:
Research and development
Some of the goals and objectives of this department include the following;
· To improve technical and analytical skills of personnel; with the increasing advancement in technology, this is the main objective of this department.
· To improve employee retention.
· To develop leadership abilities and potential of the team hired.
Finance department
· To increase revenue; since the company’s current revenue ($40,800) is less than the potential expenses leading to a net loss and an increase in operating income of $4,839, the company plans to increase its revenue to reduce the increased operating income.
· To manage costs; this objective goes hand in hand with the objective to increase revenue. The company pan to manage costs as it grows.
· To maintain appropriate finance leverage; the company plans on increasing debt from $58,433 to some higher value since debt financing is cheaper as compared to equity financing.
· Diversify and increase revenue streams; the company plans on increasing sales of different products to increase its general revenue since the company only receives revenue from the sale of Able.
· To maintain profitability; the company plans on not only increasing its revenue and reducing thus increasing its profits but also to make it somehow constantly growing. Profitability of a company should not fluctuate much.
· To ensure financial sustainability; since the external environment is uncertain and out of control of the management, the company need to remain financially stable and this may sometimes encompass seeking outside sources of finance.
· To maximize shareholder’s wealth; the company since is a business unit plans to satisfy the business units’ common economic objective.
Marketing department
· To offer the best products; the department aims at providing the best products in the market to allure customers to the company’s products. This will happen especially when high tech is used to produce products. Some of the products that may be used include;
Name price
Bold $41.90
Dabble $44.50
Fast $42.50
Feast $42.50
· To increase market share; the company’s market share when high tech is used is 0.7% and 6.5% when low tech is used, therefore the company may decide to use low tech to produce products to increase its market share.
· To improve c ...
The document provides an overview of the Balanced Scorecard framework developed by Robert Kaplan and David Norton in the early 1990s. It discusses that the Balanced Scorecard translates an organization's mission and strategy into a comprehensive set of performance measures across four perspectives: financial, customer, internal business processes, and learning and growth. The Balanced Scorecard helps organizations implement their strategies by setting objectives and measures for each perspective, and monitoring performance to drive continuous improvement.
The document discusses strategies for companies to achieve growth in challenging economic times through cost competitiveness. It outlines that companies need to focus on pricing, costs, cash, and capital to drive growth. Top performing companies strategically increase prices above inflation, take a holistic view of costs across the organization and supply chain, optimize working capital across the entire value chain including suppliers, and prioritize existing cash reserves to finance growth.
Human resource - Performance Management -The Balanced ScorecardSampath Samudrala
The balanced scorecard is a strategic planning and management system developed in the early 1990s. It provides a framework for translating an organization's mission and strategy into a comprehensive set of performance measures. The balanced scorecard suggests that organizations must balance four perspectives - financial, customer, internal business process, and learning and growth. Each perspective contains objectives, measures, targets, and initiatives. Together these provide managers with a comprehensive picture of an organization's overall health.
This document provides an overview of the Advanced Diploma in Management Practice course taught by Steve Pollard. The course aims to enable students to critically evaluate organizational performance using accounting information for planning, decision-making, and control. Key topics covered include financial management, financial reporting, understanding costs, budgeting, and financial controls.
The document discusses three key strategy-making tasks for companies:
1. Developing a strategic vision or mission that charts the company's long-term course and future direction. This includes defining the business, customers, and technologies.
2. Establishing specific financial and strategic objectives with quantifiable targets to be achieved by a certain deadline. This provides benchmarks for performance.
3. Crafting a strategy by considering factors like changing customer needs, new technologies, and market opportunities to achieve the objectives.
The document discusses three key strategy-making tasks for companies:
1. Developing a strategic vision or mission that defines the company's future direction and goals. This provides guidance and motivation.
2. Establishing specific financial and strategic objectives to measure performance and progress. These include targets for revenue, market share, costs and other metrics.
3. Crafting a strategy to achieve the objectives through actions and resource allocation. Factors like customers, technology and markets shape the strategy.
The document discusses various corporate strategies that firms can pursue, including:
1) Formulating strategies around cost leadership, differentiation, or focus as proposed by Michael Porter.
2) Pursuing differentiation and low cost simultaneously through a "Blue Ocean Strategy" as suggested by W. Chan Kim and Renée Mauborgne.
3) Competing differently in the 21st century through strategies like bringing new products to market quickly, using new technologies, diversifying product lines, and combining online and physical sales.
This document discusses various techniques for measuring business performance, including financial and non-financial metrics. It describes key performance indicators that can measure critical success factors like competitiveness, quality, innovation, and customer satisfaction. Financial measures discussed include return on capital employed, return on sales, gross margin, and liquidity ratios like the current ratio and acid test ratio. Non-financial factors that can affect performance are also summarized, such as economic conditions, government regulations, and differences between private and public sector organizations.
STRATEGIC OBJECTIVES AND FINANCIAL OBJECTIVESNIKHIL R K
This document discusses strategic management and objectives. It defines key terms like vision, mission, objectives, strategies and policies. Vision is a long term plan that inspires people towards a common goal. Mission explains the organization's purpose and customers. Strategies are plans to sustain in the market long term, while policies guide decisions. Objectives can be strategic, like improving competitive position, or financial, such as increasing revenues or profits. Both types of objectives are important for strategic management.
The document provides information about Toby Webb's work founding Ethical Corporation and Stakeholder Intelligence to research and advise companies on ethics and corporate responsibility. It then summarizes the key messages of a presentation on embedding ethics and values with a corporate responsibility approach, including that transparency is only the first step, engagement with stakeholders is key to innovation, and a strong culture is needed to manage risks and create opportunities. Examples are given of how companies like GE, M&S, and Petrobras have successfully embedded responsibility throughout their organizations.
The document is a resume for William M. Klinowski outlining his experience as a senior sales and marketing executive with a track record of consistently surpassing revenue goals and growing business across multiple industries. Klinowski has held leadership roles at several companies where he implemented strategic plans and processes to increase market share and profits. The resume highlights his skills in areas such as strategic planning, business development, sales management, and financial analysis.
Breaking the ceiling through effective procurement transformation 19 oct13Anirban Mazumdar
The document outlines key aspects of an effective procurement transformation program. It discusses how companies typically undertake cost reduction initiatives but realize limited benefits. An effective program must be holistic and involve designing strategic goals, conducting a planning phase to establish baselines and identify opportunities, and executing initiatives while tracking progress and providing support. Each phase of design, planning and execution is important. Challenges must be anticipated and mitigation plans put in place. Certain factors, if ignored, could derail the entire program. Addressing all elements of change like vision, methodology, structure, skills, motivation and action plans is necessary for successful transformation.
Running Head: Strategic plan 1
Strategic plan 2
Strategic Plan
David Greenfield
BUS/ 475
August 10, 2015
Susan Horvat
Strategic Plan
Introduction
This paper is going to describe the methods of balanced scorecard which is currently being used more often by small and big companies. In elaboration of this concept, this document is going to use the idea of the business design of Waterboard’s new division known as Cargo Shipping Division. After the division’s importance, objectives, perception as well as profits have been evaluated, the strategic plan of the balanced scorecard is developed considering contingency planning, danger elimination as well as moral dimensions of the developed plans (Kantor, Nolan, & Sauvant, 2011).
The BSC method is shown as a way which evaluates the efficiency of the company through economical, customer, inner business procedures as well as research and development. Considering the values, mission and vision of Waterboard Corporation, the four areas can be described as follows:
Financial: Waterboard’s new division of Cargo Shipping would have to concentrate on developing a competitive edge through proper allocation of adequate resources and keeping client database in an attempt of decreasing dangers by mechanised process (Biegelman, 2008).
· Waterboard Corporation would focus on improving its market share by diverse methods like online promotions, coping with client appointments as well as individualised relationship with their clients through the Cargo Shipping division. In order to attain the stipulated 10percent growth rate, the new division will need to provide security and proper training to its employees to deliver quality services to the customers and arrange for them adequate resources to enable them reach to the clients.
· The Corporation, through the new division would focus on boosting the profit margin by lowering the operational expenses like vocational or unnecessary marketing promotions and replacing them with focused customer networking all over the globe utilizing the process and business abilities (Kantor, Nolan, & Sauvant, 2011).
· The Corporation would as well focus on boosting its earnings. In order to achieve its objective of market expansion through the Cargo Shipping division to about 10%, Waterboard would concentrate on delivery of additional services like online consultation via video conferencing. Basically, this would increase its earnings due to the large market share it would create.
Customer: In Waterboard Corporation, customers are given the first priority and accorded much respect. This is evident by the strategies put forward for achieving client satisfaction. Some of the customer objectives of the Waterboard’s new division would concentrate at:
· Developing stronger c.
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2nd Place Overall
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2. Chapter 2. Setting objectives
Lesson 2: A balanced approach to setting
objectives
3. “Objectives are a company’s
performance targets. It is the specific
results a business owner or
management wants to achieve.”
Thompson et al.
4. The need for a balanced approach to
setting objectives.
The most widely used framework for balancing
financial and strategic objectives is known as the
Balanced Scorecard.
It is a method for linking financial performance
objectives to specific strategic objectives that derive
from a company’s business model.
A balanced
approach
to setting
objectives
5. The need for a balanced approach to
setting objectives.
The balanced scorecard approach provides
employees with clear guidelines about how their
jobs are linked to the overall objectives of the
company.
This is essential so that employees can contribute most
productively and collaboratively to the achievement of
the company’s goals.
A balanced
approach
to setting
objectives
6. The need for a balanced approach to
setting objectives.
In 2010, nearly fifty percent of global company’s
used a balanced scorecard approach to measuring
strategic and financial performance.
Examples of company’s that have adopted a balanced
scorecard approach to setting objectives and measuring
performance include: SAS institute, UPS, Ann Taylor
Stores, Fort Bragg Army Garrison, Caterpillar, Daimler
AG, Hilton Hotels, Susan G, Komen for the Cure, and
Siemens AG.
A balanced
approach
to setting
objectives
7. Examples of Company objectives.
NORDSTROM
Increase same store sales by 2-4%.
Expand credit revenue by $25-$35 million while also reducing associated
expenses by $10-$20 million as a result of lower bad dept expenses.
Continue moderate store growth by opening three new Nordstrom stores,
relocating one store and opening 17 Nordstrom Racks.
Find more ways to connect with customers on a multichannel basis, including
plans for an enhanced online experience, improved mobile shipping
capabilities and better engagement with customers through social networking.
Improve customer focus: “ Most important we continue to do everything in our
power to elevate our focus on the customer.
A balanced
approach
to setting
objectives
8. Examples of Company objectives.
GOODYEAR.
Increase operating income from $917 million to $1.6 billion.
Increase operating income from international tire division from $899 to $1,150
million.
Increase operating income from North American division from $18 million to
$450 million.
Reduce the percentage of non-branded replacement tires sold from 16 percent
to 9 percent.
Improve brand awareness in Mexico and increase number of retail outlets in
China from 735 to 1,555.
Increase fuel efficiency of automobile and track.
A balanced
approach
to setting
objectives
9. Examples of Company objectives.
PEPSI.
Accelerate top-line growth.
Build and expand our better-for-you snacks and beverages and nutrition
businesses.
Improve our water use efficiency by 20 percent per unit of production.
Reduce packaging weight by 350 million pounds.
Improve our electricity-use efficiency by 20 percent per unit of production.
Maintain appropriate financial flexibility with ready access to global capital and
credit markets at favorable interest rates.
A balanced
approach
to setting
objectives
10. Example Strategic and Financial objectives prevalent in most
companies.
A balanced
approach
to setting
objectives
Financial Objectives Strategic Objectives
An x percent increase in annual revenues Winning an x percent market share
Annual increases in after-tax profits of x percent Achieving lower overall cost than rivals
Annual increase in earnings per share of x percent Overtaking key competitors on product performance or
quality or customer service
Annual dividend increases of x percent Deriving x percent of revenues from the sale of new products
introduced within the past five years
An x percent return on capital employment (ROCE) or return
on shareholders’ equity investment (ROE)
Having broader or deeper technological capabilities than
rivals
Increased shareholder value in the form of an upward-
trending stock price
Having a better-known or more powerful brand name than
rivals
Bond and credit ratings of x Having stronger national or global sales and distribution
capabilities than rivals
Internal cash flows of x dollars to fund new capital
investment
Consistently getting new or improved products to market
ahead of rivals.
11. Congratulations! You’ve completed lesson 2.
Recap: In this lesson you learned that a balanced approach to
setting objectives involves Financial and Strategic objectives. You
also learned that financial objectives are lag indicators while
strategic objectives are lead objectives.
Awesome work!
Now click Complete and then Next for Chapter 3.