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Bus 475

In: Business and Management

Submitted By 58jocelyn
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Strategic Plan, Part III: Balanced Scorecard
Joanne Mele
August 25, 2013
BUS/475 – Integrated Business Topics
Victor De Jesus

A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). The Serenity Corner needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to The Serenity Corner’s mission, values, vision, and SWOTT analysis.
Shareholder Value/Financial Perspective “If we succeed how we will look to our stakeholders” (BSI 2009, ¶5). The Serenity Corner will need to look at its asset utilization, customer satisfaction, increased net revenues, minimizing store production, and achieving financial stability. One way to measure these items is to monitor Earnings per share, Operating cost, revenue growth, Return on interest, and Return on capital. Implementing the objectives and performance measuring tools into the company’s daily routing, The Serenity Corner will be able to achieve the company’s goals that were defined in the mission and vision statement.
Customer Value Perspective “To achieve our mission, how must we appear to our customers” (BSI 2009, ¶5). The Serenity Corner is a new company to the downtown area. Our customers at The Serenity Corner will be the ones determining the success of the company. Customer satisfaction, increase in market share, the delivery of products and services that are consistent with value and quality to everybody including special populations, increase in public awareness and visibility in the community in a way that will…...

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