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Write 3 page essay on the topic Strategic Plan, Part III: Balanced Scorecard.Download file to see previous pages... Reduce the operating expenses and increase the revenues. The operating expenses shou
Write 3 page essay on the topic Strategic Plan, Part III: Balanced Scorecard.Download file to see previous pages...
Reduce the operating expenses and increase the revenues. The operating expenses should reduce by 5% and revenue increase by 15 over the next one year The inventory turnover should also reduce. We shall attempt to capture a wider market We shall establish more stable relationships’ with suppliers so we could get suppliers at lower prices. We shall scale up internet marketing to make more sales Increase the Return on Assets (ROA) ratio The return on assets should increase by 10% over the next one year. The assets should be invested affectively to generate higher income. We shall utilize our assets more efficiently and lent rather than own assets if doing so will safe us resources. To increase our company’s competitiveness We want to be ranked top 100 of the best documentary and movie companies in the next five years We must improve in terms of ranking every single year We shall invest heavily in the latest e-commerce and m-commerce so we can develop a superior competitive edge Customer value score card Objectives Measures Target Initiatives Train employees to offer premium customer services and products with Employee’s customer care and production skills should be improved Employees should be trained in specialized courses within the first one year The company to set aside some funds for training employees in different technical courses we shall make sure customers are offered products of high quality at all time to ensure they are always satisfied Disputes arising from customer dissatisfaction should be very low, and if they occur they should be resolved very quickly We shall ensure customers leave many positive feedbacks, as a sign of satisfaction Conduct an in-depth market survey to establish what could lead to customer dissatisfaction We shall ensure that all products offered to our customers guarantee them the value for their money No single customers will regret having purchased from us. Offer products at prices that match the quality of products Carry out a survey to establish what customers value most in our products Internal operations score card Objectives Measures Target initiatives To implement an inventory control program to track the level of stock The level of stock must be maintained at an optimum level.