Wk 3 – Practice: Balanced Scorecard Template

Assignment Content

Strategic objectives are a measure of attaining your vision and mission. They reflect the vision, mission, and values of the organization, and the outcomes of the internal and external environmental analysis. This week, you will determine the objectives and metrics now that you have completed your SWOT analysis in preparation for the project plan you will complete in next week’s summative assessment. The project you choose must be based on an unmet opportunity for the organization you chose in Week 1 or to minimize a potential threat. As you recall what you determined in your SWOT analysis, consider the following questions:

What does the organization need to do to advance its goals or expand its competitive advantage?

How will you measure progress toward the goals? BUS/475 v12
Balanced Scorecard Template
Complete Part 1 and Part 2.
Part 1
Scorecard Areas
Develop 2-3 strategic objectives for each of the four balanced scorecard areas. Remember to use the
SMART method to create your objectives. One example has been provided in each scorecard for you.
Financial Objectives
Example: Increase market share
Customer Objectives
Example: Increase customer
value
Internal Business Process
Objectives
Example: Decrease lead times
for new contract implementation
Measures
Total Revenue
Measures
Increase profit contribution per
customer
Measures
Project implementation time
frames
Targets: Timeline/Metrics
Increase 5% in first year
Targets: Timeline/Metrics
Increase 5% in first year
Targets: Timeline/Metrics
Decrease time by 3% in first year
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Balanced Scorecard Template
BUS/475 v12
Page 2 of 2
Learning and Growth
Objectives
Measures
Example: Decrease employee
turnover
Facilitate regular training and
opportunities for development
Targets: Timeline/Metrics
Reduce by 4% in first year
Part 2
Balanced Scorecard Summary
Write a 175- to 350-word summary in which you:
•
Explain why these objectives are appropriate for the project.
•
Explain why these metrics and timelines are appropriate for your strategic plan.
Format any references according to APA guidelines.
Begin your summary on a new line below.
References
Copyright 2024 by University of Phoenix. All rights reserved.