Balanced Scorecard 12/17/2018 Running head: BALANCED SCORECARD 1 BALANCED SCORECARD 2 Balanced Scorecard Develop three strategic objectives for each of the four balanced scorecard areas using the Template provided by your instructor (please look at a post called "Balanced Scorecard Template" under Class Messages) Create a minimum 1,050-word strategic objectives summary. Consider the following strategic areas when developing your strategic objectives: · Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as: · Market share · Revenues and costs · Profitability · Competitive position · Customer Value Perspective, which includes strategic objectives in areas such as: · Customer retention or turnover · Customer satisfaction · Customer value · Process or Internal Operations Perspective, which includes strategic objectives in areas such as: · Measure of process performance · Productivity or productivity improvement · Operations metrics · Impact of change on the organization · Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as: · Employee satisfaction · Employee turnover or retention · Level of organizational capability · Nature of organizational culture or climate · Technological innovation Develop a specific metric and target for each strategic objective using a balanced scorecard format.  Example: a strategic objective in the shareholder or financial perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, "The percentage of increase in market share." The target is the specific number to be achieved in a particular time period. The target for the metric of "Increase market share" could be "Increase market share by 2% for each of the next 3 years" of an increase of 2% per year for 3 years. Trends, Assumptions, and Risks of Hoosier Media, Inc's business model Assess, in no more than 350 words, trends, assumptions, and risks of Hoosier Media, Inc.'s business model after completing the strategic objectives for each area.   Example of what I needBusiness Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Successful organizations have effective strategic plans. The strategic plan is a long-term plan that contains specific objectives and goals. Organizations use tools like the SWOTT analysis and a balanced scorecard to determine strengths, weaknesses, opportunities, threats, trends, and risks. The Balanced Scorecard The Balanced Scorecard is a tool to manage and evaluate strategy. It is valuable to organizations because it evaluates strategies from four perspectives: financial performance, customer knowledge, internal business processes, and learning and growth. The analysis derived from the scorecard requires the organization to seek answers and utilize the information, along with financial measures, to sufficiently and more efficiently evaluate strategies be.

1. Balanced Scorecard
12/17/2018
Running head: BALANCED SCORECARD
1
BALANCED SCORECARD
2
Balanced Scorecard
Develop three strategic objectives for each of the four balanced
scorecard areas using the Template provided by your instructor
(please look at a post called "Balanced Scorecard Template"
under Class Messages)
Create a minimum 1,050-word strategic objectives summary.
Consider the following strategic areas when developing your
strategic objectives:
· Shareholder Value or Financial Perspective, which includes
strategic objectives in areas such as:
· Market share
· Revenues and costs
· Profitability

2. · Competitive position
· Customer Value Perspective, which includes strategic
objectives in areas such as:
· Customer retention or turnover
· Customer satisfaction
· Customer value
· Process or Internal Operations Perspective, which includes
strategic objectives in areas such as:
· Measure of process performance
· Productivity or productivity improvement
· Operations metrics
· Impact of change on the organization
· Learning and Growth (Employee) Perspective, which includes
strategic objectives in areas such as:
· Employee satisfaction
· Employee turnover or retention
· Level of organizational capability
· Nature of organizational culture or climate
· Technological innovation
Develop a specific metric and target for each strategic objective
using a balanced scorecard format.
Example: a strategic objective in the shareholder or financial
perspective is to increase market share. A metric to actually
measure this strategic objective of market share increase is,
"The percentage of increase in market share." The target is the
specific number to be achieved in a particular time period. The
target for the metric of "Increase market share" could be
"Increase market share by 2% for each of the next 3 years" of an
increase of 2% per year for 3 years.
Trends, Assumptions, and Risks of Hoosier Media, Inc's
business model
Assess, in no more than 350 words, trends, assumptions, and
risks of Hoosier Media, Inc.'s business model after completing
the strategic objectives for each area.
Example of what I needBusiness Model and Strategic Plan Part

3. III: Balanced Scorecard and Communication Plan
Successful organizations have effective strategic plans. The
strategic plan is a long-term plan that contains specific
objectives and goals. Organizations use tools like the SWOTT
analysis and a balanced scorecard to determine strengths,
weaknesses, opportunities, threats, trends, and risks.
The Balanced Scorecard
The Balanced Scorecard is a tool to manage and evaluate
strategy. It is valuable to organizations because it evaluates
strategies from four perspectives: financial performance,
customer knowledge, internal business processes, and learning
and growth. The analysis derived from the scorecard requires
the organization to seek answers and utilize the information,
along with financial measures, to sufficiently and more
efficiently evaluate strategies being implemented (David &
David, 2017, "Chapter 9, Strategy Review, Evaluation, and
Control").
Financial Perspective
The first objective on the Balanced Scorecard is the financial
perspective. The financial perspective is determined by revenue
growth and cost efficiency. Organizations focus their attention
on revenue growth by increasing revenue opportunities, and
improving customer value. The financial goal is to turn a profit
and have the business growth. With a solid financial plan,
organizations will be ready to hire more employees and invest
in marketing, technology, and employees.
Financial Perspective
Measures
Targets
Increase Profitability
Market Value

4. Increase by 2% over a period of 3 years
Increase Revenue
Price of products
Increase price of product
Lower Costs
Decrease R & D
Use existing technology and out-source non-technical positions
Customer Value
Customers make an organization successful. The customer
comes first and is an important asset to the organization. In
keeping with the mission and vision of an organization, they
should do everything possible to increase their satisfaction.
Listening to customer feedback is valuable in maintaining
relationships and improving satisfaction. Organizations will
grow their customer base and retain existing customers by
paying attention to their needs and wants.
Customers Objectives
Measures
Targets
Grow business based on customer needs and wants
Conduct surveys
Increase profits by 2% per year over 3 years
Improve customer satisfaction
Offer coupons and rewards
Increase profits by 4% per year over 3 years
Customer retention
Evaluate and address customer feedback
Increase profits by 1% per year over 3 years
Process Objectives Perspective
Employees are valuable to all organizations. Utilizing
employee feedback will increase productivity.
cLiving the mission and vision statement of the organization
shows employees that the organization they work for has

5. integrity and is honest. Communicating with employees show
the organization cares about them and what they think.
Employee buy-in will increase productivity.
Internal Business Process Objectives
Measures
Targets
Productivity Improvement
Increase Productivity
Increase productivity 3% per year over 3 years
Impact of Change on Organization
Internal Employee Surveys
Increase productivity by 2% per year over 3 years
Operational Excellence
Communication with employees, Adhere to Mission and Vision
statements
Increase productivity by 2% per year over 3 years
Learning and Growth
Creating job satisfaction and an organizational culture that is
innovative and satisfying can increase learning and growth.
Employees are up to date personally on technology and expect
no less from their employer. Satisfied employees means less
turnover. Listening to all employees, no matter their position,
will create a positive culture. Annual evaluations and raises
show the employees that the organization values their hard
work.
Learning and Growth Objectives
Measures
Targets
Technological Innovation
Stay up to date on technology, invest in R & D
Increase profit by 3% per year over 3 years
Employee Turnover
Conduct annual evaluations and pay increases

6. Increase productivity by 3% per year over 3 years
Nature of Organizational Culture
Assimilate and utilize feedback from employees, create team
environment
Increase productivity by 4% per year over 3 years
Conclusion
The Balanced Scorecard is essential to evaluating an
organizations strategy. By utilizing the Balanced Scorecard,
organizations can scrutinize their financial perspective,
customer value perspective, process operations perspective, and
learning and growth perspective. All of these perspectives can
make an organization strong and successful. All of the
perspectives on the Balanced Scorecard are key to creating
long-term goals for the organization.
References
David, F. R., & David, F. R. (2017). Strategic Management: A
competitive advantage approach, concepts and cases (16th ed.).
Retrieved from The University of Phoenix eBook Collection
database.