Strategic Plann Part Iii
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Strategic Plan Part III: Balance Scorecard
Carmen Bryant
BUS/475
August 20, 2012
Garold Cole
Strategic Plan Part III: Balance Scorecard
The balance scorecard is a way for a business to see how they are doing performance wise. This paper will help understand the three strategic objectives for each of the four areas on a balance card, which are, financial, customer, internal business process and learning/growth for Sunday’z Best. It will explain three strategies for each objective and show how the staff will control the strategic plan for Sunday’z Best.
The financial Perspective is the objective of the business and allows the managers to track all of the finance success and the shareholder value. It also includes the strategic objectives in the area of marketing, revenues, and cost, the profits made and what competitive position the business is in. The first strategic objective for Sunday’z Best is to increase the revenue by 5% of the first fours year of opening, and this will happen by the customers spreading the news of the new restaurant aggressively. The staff members of the restaurant are responsible for providing great customer service. The next is to make sure that we secure at least 50% of the restaurant market segment by 2015, and this can be done by returning customers and offering discounts when they bring in a coupon giving them a percentage off their meal. The managers of the restaurant are responsible for offering the new customers a taste of the food, before they place their order.
Financial Scorecard
Objective Measurement Target
To keep the cost of capital low | The cost should be no less than 4.0% over the next two years | The way to achieve this goal is to get low financing from banks |
Keep the food inventory low | Try to reduce inventory to at least 10% over the next two years. | With the reduction we should notice the decrease in the loss of food products |
Increase the amount of products sold | Total of products...
Carmen Bryant
BUS/475
August 20, 2012
Garold Cole
Strategic Plan Part III: Balance Scorecard
The balance scorecard is a way for a business to see how they are doing performance wise. This paper will help understand the three strategic objectives for each of the four areas on a balance card, which are, financial, customer, internal business process and learning/growth for Sunday’z Best. It will explain three strategies for each objective and show how the staff will control the strategic plan for Sunday’z Best.
The financial Perspective is the objective of the business and allows the managers to track all of the finance success and the shareholder value. It also includes the strategic objectives in the area of marketing, revenues, and cost, the profits made and what competitive position the business is in. The first strategic objective for Sunday’z Best is to increase the revenue by 5% of the first fours year of opening, and this will happen by the customers spreading the news of the new restaurant aggressively. The staff members of the restaurant are responsible for providing great customer service. The next is to make sure that we secure at least 50% of the restaurant market segment by 2015, and this can be done by returning customers and offering discounts when they bring in a coupon giving them a percentage off their meal. The managers of the restaurant are responsible for offering the new customers a taste of the food, before they place their order.
Financial Scorecard
Objective Measurement Target
To keep the cost of capital low | The cost should be no less than 4.0% over the next two years | The way to achieve this goal is to get low financing from banks |
Keep the food inventory low | Try to reduce inventory to at least 10% over the next two years. | With the reduction we should notice the decrease in the loss of food products |
Increase the amount of products sold | Total of products...