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[solved] Develop a balanced scorecard to measure the critical factor

assignment Overview:  Develop a balanced scorecard to measure the critical factors in successful implementation of your strategy recommendations (3% of course grade).  The scorecard will be incorporated into this final draft of the business plan. 

Assignment Objectives: The first objective is to develop a scorecard that will measure the critical components of your business strategy--those items that must be monitored to ensure successful implementation of your proposed strategy.  The second objective is to develop a comprehensive, fully edited draft of  the   business plan for your client company to enter into and market its product/service within the selected country.  

Assignment Requirements:  Read, edit, and trim your draft Business Plan, covering all  sections 1-18 into a smoothly flowing final  draft.  The Balanced Scorecard (section 18 ) should flow  logically from, and reflect the key components of, your business plan strategy.  The BSC will be an appendix to the plan, but must be explained in text.

Incorporate all previous feedback into the draft and aim for a document  of approximately 40  pages, to be further trimmed in the final version next week.  Keep all support tables and charts in appendices.  The Scorecard only will be graded this week, but faculty will try to provide as much feedback as possible on the entire draft, in time for the team to incorporate into your final version next week.  

One member is to post the  Scorecard and  draft of your Business Plan, in the Group Assignment folder  by the end of Week 11 and title it  "Strategy Implementation Scorecard and Draft Business Plan".



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15-06-22 | 04:39:52

Balanced scorecard
Financial perspective
Objectives
To increase the profit of the firm.
Measures
Manufacture 500000 cars by 2018.
To ensure that 34 percent of the market is attained by Tesla.
Initiatives
Examine the profits earned on a monthly basis.
Examine the targeted buyers and respond to their needs.


Consumer perspective
Objectives
Expand market by acquiring more customers both in South Korea and other countries.
Measures
Advertise the products so that customers can be able to identify them.
Ensure customer satisfaction by producing quality products.
Responding to customers questions without delaying.
Initiatives
Maintain the products which are of good quality.
Conduct market research and understand the needs of customers.


Internal perspective
Objectives
To maintain a strong brand that will attract customers globally.
Measures
To reduce the prices of its products so as to compete favorably with other firms.
Ensure continued manufacturing of quality products.
Initiatives
Conduct a market research
Reduce the cost of production by expanding the products by diversifying production


Growth and learning
Objectives
Training employees on the need to produce new products as well as embrace technology in production of goods.
Measures and targets
Invest in research and development.
Form joint ventures with other automotive industries.
Initiatives
Encourage employees to conduct in marketing research in order to understand the customers’ needs.
Employ experts who are able to bring innovations in the line of production.


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