strategy formulatio and balance score card.doc - Strategy...

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Strategy Consider the questions below as you formulate your business strategy in preparation for doing a Balanced Scorecard. VOICE OF STAKEHOLDER/FINANCIAL (growth, profitability, cash flow, return on investment) What does our target market want that they are not currently getting? What innovative products, features, benefits or services could we add? How do we plan to get more customers? How do we plan to sell more to each customer? What new market opportunities can we exploit? What other strategies would increase growth and profitability? VOICE OF THE CUSTOMER (high quality, fast or on-time, good value, pleasurable experience) How can we make better quality products than our competitors? How can we deliver faster than the competition? What can we do to reduce cost or give more value to customers than our competitors? How can we give the customer a more pleasurable buying experience? How do we plan to retain customers longer—to create loyal customers? What is our Unique Selling Proposition (USP)? INTERNAL PROCESSES (effective business systems and operational excellence) What systems/processes must we excel at? What new systems or processes would add value to the market and attract new customers?

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