...Strategic Plan, Part III: Balanced Scorecard BUS/475 Intro A balanced score card is necessary when analyzing the objectives of a strategic plan. Mix and Go will be able to use this method as part of our strategic plan. The four areas of the strategic plan that can be analyzed using the balanced scorecard include: Financial, customer, internal operations, and learning and growth. Each one of these categories will be analyzed separately in order to understand each of their cause and effect relationships. The analysis starts by defining the objectives of each category, and then proceeded by the goals and initiatives of Mix and Go. The scorecard below is in table format to help develop an organized plan for reaching our business objectives outlined in the previous SWOTT analysis. See Score Card Below ------------------------------------------------- Financial Scorecard Objectives | Measures | Targets | Initiatives | Decrease the cost of packaging by offering Eco-friendly merchandise to package food in that is reusable | Increase in the amount of merchandise sold to new customers who return using their own packaging | Frequent repeat business, incentives for going green and helping reduce waste and lower our costs | This can be achieved by actively promoting the benefits of waste reducing and recycling in our store | Lower overall inventory costs while maintaining the highest quality of goods. | Inventory costs should match revenues to support the supply...
Words: 1072 - Pages: 5
...Mayo Clinic Value Alignment Learning Team B Anita Duray, Genia Lewis, Lisa McNeill, Tamiko Perry, and Michael Rogerson BUS 475 July 9, 2012 Paul Gerlach In this paper Learning Team B analyzed the individual values and the organizational values as reflected by the organization’s plans and actions of the Mayo Clinic. The Learning Team B selected the Mayo Clinic because of its long history and high values. The Mayo Clinic’s founder was Dr. William Worrall Mayo and back in 1863 in Rochester, Minn. From the beginning the Mayo Clinic main focus was helping people with a more team driven practice. The clinic would request other doctors or science researchers to join them in the world’s first private group practice in medicine. This teamwork method through the Mayo Clinic continues today with more than 55,000 doctors, nurses, scientists, students, and allied health staff at locations in the Midwest, Arizona, and Florida. (“Mayo Clinic History”, 2012) With the data available about the Mayo Clinic the Learning Team B is going to analyze the evolution of the clinic’s personal and workplace values. The team will explain and analyze the alignment of the clinic’s individual and organizational values. Then finally the team will explain the differences between the individual and organizational values as reflected by the Mayo Clinic’s plans and actions. Personal and Workplace Values Mayo Clinic is a medical clinic. This medical clinic...
Words: 1292 - Pages: 6
...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...
Words: 1372 - Pages: 6
...Value Alignment Team B Name Integrated Business Topics/BUS 475 Date Instructor Value Alignment United Parcel Service (UPS) a global organization and the members of Team B have a common cultural attitude. They both have a set of core values that give them a starting point for every dilemma encountered and every decision made. Core values are, according to "Definitions Of Anthropological Terms" (n.d.), “attitudes and beliefs thought to uniquely pattern a culture.” (para. Core Values). Here, we will discuss the alignment of core values between UPS and Team B. First we will discuss a brief history of UPS and what activities UPS engages. We will specifically discuss the core values that UPS follows as it executes those activities, and we will define the core values. We will then discuss the core values of Team B, and how Team B uses these core values to execute its tasks as an entity in the academic environment. Finally, we will analyze the alignment of the core values between UPS and Team B, and discuss if the members of Team B would consider working for UPS. Table 1 depicts the degree of correlation between UPS and Team B as part of this analysis. History UPS is a global organization that has a rich history spanning 107 years. UPS started a humble existence operating out of a basement and making deliveries on foot and bicycle. UPS continues to follow the inspiring teachings of Jim Casey who was 19 years old at the time and a founder of UPS. (United...
Words: 2488 - Pages: 10
...Introduction Mission, vision, and value statements provide guideline theories to formulate an organization’s strategic plan. Organizations create their corporate, business, and tactical strategies and objectives. The given paper gives a detailed research on the mission and vision statements of Force Protected Structures and how these statements are helpful in making the business different and effective from its competitors. It will further highlight core values through the mission and vision statements. These values help in directing the strategies and hence enhance profitability, maintain competitive edge and attract stakeholders. Analysis The business plan involves developing a Force Protected Structures company for forward deployed United States, and Coalition Forces service members. This forward deployed based business will provide safety and save lives of Soldiers on the front lines by providing fortified Combat Outposts (COPs). The fortified structures will provide value added as Soldiers returning to their COPs will be able to rest and relax without worrying about incoming fires as they will be constructed to withstand the enemies most lethal weapon systems through a carefully thought out engineer and design plan. Mission Statement • Industry: Defense Operations • Product: Force Protected Structures • Service: Provide force protected structures in the form of Combat Outposts to forward deployed United States and Coalition Force Soldiers. • Customers: United...
Words: 1174 - Pages: 5
...Value Alignment: Burt’s Bees Over the past 30 years Burt’s Bees has been committed in making the world a better and cleaner place by producing all-natural products that people can use; while doing their part for achieving a healthy environment. Starting out from a candle artistry from leftover beeswax and then expanding into the health and beauty industry using the same concepts that align their mission and visions. Burt’s Bees creatively produces products that is not only good for you, it is also environmentally friendly. Within this paper, Team B has selected to analyze the value alignment of Burt’s Bees and will go more in-depth in what Burt’s Bees is all about. Team B will analyze personal and workplace values and behaviors of the business. Team B will also address the plans of the actions that Burt’s Bees plan to conduct, which will indicate the level of alignment between who they are and what their social responsibilities are to themselves, to the community, and to the consumers. Origins and Subsequent Evolution Burt’s Bees origin goes back to a summer day in Maine in 1984 (Our History, 2014). Roxanne Quimby, a single mother and artist, was hitchhiking and a long-bearded gentleman named Burt, well known for his local organic honey, picked her up. From there a relationship developed and Roxanne began using Burt’s left over bee’s wax to make artistic candles. Eventually, she created a lip-balm using an old farmer’s almanac and the bee’s wax. Her new product...
Words: 1220 - Pages: 5
...Summary The childcare facility will have children from ages 6wks to 12 years old within the facility. The program will be designed specifically for these age groups. The programs will be accredited through the National Association for the Education of Young Children. Each child within the program will engage in activity that will be developmental and socially appropriate. They will be instructed to use large and small motor skills to enhance their physical and mental development. The childcare facility will be well equip to see the vision of a professional childcare to be developed. Our childcare would like to take surveys and inventories on the progress that will be achieved. A scorecard will be used to show information and progress on the childcare. The scorecard tool gives a company insight to give a forecast on the next couple of years. The scorecard also shows if a business should change a product or service to increase the profit margin. The Scorecard is as follows: a. Revenue created by the operations of the childcare and to see if the financial goals are being met. b. Satisfaction, and Consumer loyalty can be tied with the customer goals of measurement of the Balanced Scorecard. c. Satisfaction of Employees and development for each employee to be better equip them with ideas and knowing the goal and purpose of their job. Key Elements that could help ensure employee morale • Encouraging the employees to create a accountability for each other within the childcare...
Words: 278 - Pages: 2
...Walmart’s strategic planning initiatives ensure a vast influence of their financial planning. Though Walmart places a massive significance on valuing its goods at very low-slung prices, this also marks their extra actions to be well-organized in a particular mode to exploit on the general earnings (“Walmart”, 2009). The company’s pricing policy has prepared employers in to be the marketplace forerunner in the United States. The tactical preparation creativities of the organization rely an outcome based on its values and total trades. This company consumes segment growth that can be exposed to different supplies that will broaden Walmart’s current stores, and alter the locations of the company distribution centers. In this case it creates a panel that requires a large amount of sum of principal. The high cost load for the extension of their stores has to be less; these initiatives have proven to be highly active on a complete foundation (“Walmart”, 2009). Though this might not build a short-range turnover, this inventiveness has a well-known track record to take in wealth. According to “Walmart, 2013”, “Walmart kept 80.9 percent of surplus of its United States processes out of landfills in 2011, and achieved cost savings over a mixture of improved recycling revenue and diminished expenditures” (Accountability Report). Even though Walmart’s new initiatives have clearly made a huge profit, the company has only seen a 10% growth in net sales since 2007 (“Walmart, 2009”)....
Words: 857 - Pages: 4
...SWOTT Analysis - Jumbo Guest Ranch Introduction As a strategic planning tool, SWOTT analysis is used to evaluate the strengths, weaknesses, opportunities, threats, and trends of a business. It examines both the external and internal factors that are crucial to the operations and performance of a business. The results obtained from this analysis are useful during the formulation of a strategic plan. Before starting a SWOTT analysis, a clear and attainable business objective should be defined. The purpose of the analysis is to identify the negative and positive factors found within and outside of the company that influence its performance. Background Jumbo Guest Ranch is a ranch that targets the middle income earners and corporations as its principal clientele base. To improve profit margins while focusing on this market segment, the strategy of the ranch is self-sustenance and expansion. These two key strategic components are responsible for the ranch’s differentiation strategy. To enable its self-sustenance strategy, the farm will use renewable energy forms, such as solar and wind while most other resources and materials will be obtained from its farm. The Analysis In an attempt to help develop full awareness of all factors, both internal and external, which may affect the decision-making process and strategic planning, the SWOTT analysis...
Words: 1155 - Pages: 5
...Functional area relationship: Riordan manufacturing BUS\475- Integrated Business Topics Riordan Manufacturing Riordan is the largest industry capable of making polymer products. They are proud on their strategic planning and intelligence due to which they are able to make unique products. For the client’s satisfaction, the mission of the company is that the work and processes should be perfect and precise. The unique qualities of Riordan can be analyzed through their way of working in new projects. To fulfill the client’s requirements they work in intensive care environment to make their product perfect. Due to remarkable reputation Riordan is spreading their industry to make maximum products for clients. They have now started to make medical supplies and plastic bottles. To make their reputation regarding to superior quality they have build a plant in china to supply their product globally. The motive of Riordan is that “No compromise in quality”. Reasons for Riordan’s existence Riordan is marketing their products worldwide. They have 550 employs which are working precisely and with unique skills, which have revenue of approximately 1 billion dollars. Riordan produces different products in their worldwide plants. Albany plant produces plastic containers, Hangzhou, china plant produces fans and other plastic products are produced in their plants located in Michigan and Pontiac. Beside of making these plastic products Riordan is also capable of making automotive parts...
Words: 1334 - Pages: 6
...A++PAPER;http://www.homeworkproviders.com/shop/bus-475-week-1/ BUS 475 WEEK 1 BUS 475 WEEK 1,Strategic planning is the process of management determining where the company is heading in the next year or so, how it's going to get there and how it will know if it achieved its goal. Strategic planning is a goal for the whole company not just a product or program of the company. The purpose of strategic planning is to make sure that top management all know where the organization wants to head and they are all on the same page. There are different processes that can be followed to develop a strategic plan; goals based, issues based and organic. Strategic planning defines the purpose of the organization and establishes realistic goals and objectives in line with that purpose. The purpose of strategic planning is to communicates the goals and objectives to the organizations top employees. Develop a sense of ownership of the plan. Ensure the Strategic planning is the process of management determining where the company is heading in the next year or so, how it's going to get there and how it will know if it achieved its goal. Strategic planning is a goal for the whole company not just a product or program of the company. The purpose of strategic planning is to make sure that top management all know where the organization wants to head and they are all on the same page. There are different processes that can be followed to develop a strategic plan; goals based, issues based and...
Words: 311 - Pages: 2
...Strategic Plan Part II: SWOTT Name BUS 475 Instructor Date Strategic Plan Part II: SWOTT SWOTT analysis is a vital system or tool utilized for anyone either before starting a company or even through the life of the company. SWOTT analysis allows a company to determine where they currently stand in the market they are in and where they can take their company in the future. Knowing the strength, weakness, opportunities, threats, and trends could be the difference whether the company or organization will succeed or be outdone by its competitors. On this paper a SWOTT analysis has been conducted to show the strength, weaknesses, threats, and trends that could impact the future of Power House Gym. Environmental Analysis There are various outside elements that could influence Power House Gym’s ability to reach it goals and accomplish the mission. In order to succeed Power House Gym will have to determine the proper strategy that could maintain the business. Studying the external environment about the business industry, competition, economic elements, technological elements, demographics, and so on could give Power House Gym an edge to continue succeeding move forward towards its goals. On the other hand internal environment is equally important since it analysis the inside aspects company’s operation, internal guidance and mission (Wise geek, 2003-2014). Performing an internal environment will allow for better understanding of the business operations such as marketing, production...
Words: 1152 - Pages: 5
...BUS 475 WEEK 1 A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=bus-475-week-1 Visit Our website: http://hwsoloutions.com/ Product Description BUS 475 WEEK 1,Strategic planning is the process of management determining where the company is heading in the next year or so, how it’s going to get there and how it will know if it achieved its goal. Strategic planning is a goal for the whole company not just a product or program of the company. The purpose of strategic planning is to make sure that top management all know where the organization wants to head and they are all on the same page. There are different processes that can be followed to develop a strategic plan; goals based, issues based and organic. Strategic planning defines the purpose of the organization and establishes realistic goals and objectives in line with that purpose. The purpose of strategic planning is to communicates the goals and objectives to the organizations top employees. Develop a sense of ownership of the plan. Ensure the Strategic planning is the process of management determining where the company is heading in the next year or so, how it’s going to get there and how it will know if it achieved its goal. Strategic planning is a goal for the whole company not just a product or program of the company. The purpose of strategic planning is to make sure that top management all know where the organization wants to head and they are all on the same page. There are different processes...
Words: 322 - Pages: 2
...BUS/475 Sample Final Exam |Accounting | |Financial accounting | | |Conceptual foundations | | |Income statement and statement of retained | | |earnings | | |Balance sheet | | |Statement of cash flows | |Managerial accounting | | |Cost concepts | | |Product costing systems | | |Activities-based costing | | |Cost, volume, and profit analysis | | |Budgeting (except capital budgeting covered | | |under finance) | | |Standard costing | | |Nonroutine decision making | |International accounting* | 1. Which of the following is NOT an element of manufacturing overhead? a. Factory employee’s salary b. Depreciation on the factory c. Plant manager’s salary d. Factory repairperson’s wages 2. What accounts are NOT classified in the current assets section of the balance sheet? a. Cash b. Accounts payable c. Security deposits d. Inventory 3. The starting point of a master budget is the preparation of the a. cash budget...
Words: 5679 - Pages: 23
...Business Model and Strategic Plan Part I: Conceptualizing a New Product of an Existing Business Stephanie Crossman BUS/475 12/11/15 Darrell Costello Table of Contents I. Title Page II. Table of Contents III. Executive Summary IV. Business Model and Strategic Plan Part I: * Conceptualizing a New Product of an Existing Business V. Conclusion VI. Reference Page * * * * * * * * * * * * * * * * * Executive Summary * This report is providing information on the future of profitability of SanDisk in regards to a new product launch. SanDisk is proud to announce our new product launch and partnership with Sony Electronics. Their latest and greatest 4K Televisions will now also be equipped with a built-in SanDisk Memory Card. The memory card will be accessed through the record button on the remote control. This new launch and partnership is going to change not only our industry, but the cable and satellite industry as well. Our innovation will replace the need for a DVR. * * New Product Mission Statement * The new Built-in Memory Cards endeavor of SanDisk and Sony is a very innovative division for both our companies. It is initialling going to be geared toward enhancing the viewers home entertainment experience. As time passes, we will be able to build on the consumers’ experience by combining more features to make this product compatible...
Words: 921 - Pages: 4
