SWLA Real Estate – Balanced Scorecard
How does an organization translate a business plan into an action plan? Everything looks good on paper; a vision, mission statement, values, objectives, and a SWOTT analysis outline what an organization wants to do. Now all that needs to be done is to put the plans to action. Several strategies exist for implementing a business plan aimed at achieving the organizations vision. The balanced scorecard is one approach that many organizations find beneficial. The objectives listed in the balanced score card are derived from the organizations mission, vision, and results of the SWOTT analysis (Pearce and Robinson, 2005).
South West Louisiana (SWLA) Real Estate is working towards the development of a…show more content… The initiatives that SWLA Real Estate will take to insure their success in meeting these objectives will be in the form of a marketing mix aimed at prospective customers. Mass mailing of postcards, seasonal items, offers for free comparative market analysis (CMA’s), and general information packets will be part of the effort to gain customers. In addition, a website will be set up enabling users to join and receive an email newsletter on a weekly or monthly basis. These efforts along with networking by way of community involvement will provide the organization with more than sufficient numbers of customers.
Office revenue is measured by the total office sales volume. The goals that have been set for SWLA Real Estate are as follows: Year 1 - $1.2 million, year 5 - $6.6 Million, and year 10 - $18.1 million. These numbers sound large, but once the costs are factored seeing why such high volume is required becomes clear. This is not to say that real estate has a slow return on investment, it just indicates that it takes money to make money. There revenue figures were derived from the market share goals. Once the percent market share is figured it correlates directly with the total office sales volume required to meet the market share. The initiatives behind these objectives lie in the tiered services that will be offered as well as a consistent increase in the number