BUS475 Strategic Plan, Part III

BUS475 Strategic Plan, Part III - Strategic Plan, Part III:...

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Strategic Plan, Part III: Balanced Scorecard 1 Strategic Plan, Part III: Balanced Scorecard BUS/475 Balance Scorecard A balanced scorecard is a set of measures that are directly linked to strategic planning. The balanced scorecard directs a business to link its long-term strategies with tangible goals and actions. Developing a balance scorecard provides the measurement of potential issues and
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Strategic Plan, Part III: Balanced Scorecard 2 opportunities of a business. The balanced scorecard is also a small version of the business’s mission, vision, and values. This paper will discuss the development of the strategic objectives, which are measures of attaining the vision and mission of a company. The vision, mission, and values for Just Perfect Event Planning and the outcomes of the SWOTT analysis will be considered. Financial Perspective The financial perspective addresses inquiries regarding how shareholders view the company and which financial goals are desired from the perspective of shareholders (NetMBA, 2010). To establish and measure long-term objectives and goals for profitability market share should be increased by three percent per year over a period of five years. Quality employees will assist Just Perfect Event Planning with providing customers with memorable events that will increase market share. Hiring quality employees will also increase revenue and lower costs for the company. Revenue will increase through customer demand for quality events and experienced event planners may require a little more increase in pay but it is through that
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BUS475 Strategic Plan, Part III - Strategic Plan, Part III:...

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