Strategic Plan, Part Iii: Balanced Scorecard

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Strategic Plan, Part III: Balanced Scorecard
Courtney Bullard
BUS/475 – Integrated Business Topics
December 9, 2012
Fredric Hibbler

A Balanced Scorecard is, “A set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce & Robinson, 2009, p. 202). Healthy Place needs to develop a balanced scorecard in order to assist in defining the company’s mission, values, vision, and SWOTT analysis. Herein, the four perspectives, financial performance, customer knowledge, internal business processes, and learning and growth will be discussed as they relate to the Healthy Place mission, values, vision, and SWOTT analysis.
Shareholder
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Body by Design Health and Fitness has been able to develop a mission and vision statement that will help the company be successful and grow in the future. The best way for Body by Design Health and Fitness to do this is to define a strategy that can easily be communicated to management. This strategy needs to incorporate the business views, goals, and objectives. The measurements that the facility needs to use to achieve the views, goals and objectives of the company need to be defined. The best way for the facility to do the above is to develop a balance scorecard. The balance scorecard is a very vital component of any business and no two balance scorecards can be the same. When creating a balance scorecard one has to keep in mind that what works for one company will not always be a good fit for another company. The four perspectives defined herein are: Financial, Learning and Growth, Customer, and Internal Process. With each perspective, Body by Design Health and Fitness has defined at least three strategic objectives; targets, and initiatives performance measures. The company will need to incorporate all the performance measures on a daily basis into the faciltity to be able to fully achieve the goal of 100% customer satisfaction.
Balanced Score Card
Shareholder Value/Financial Perspective
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