This website uses cookies to ensure you have the best experience. Learn more

Strategic Plan, Part Iii: Balanced Scorecard Paper

1378 words - 6 pages

Grade: 94

You had excellent objectives. You paper was written well...only a couple small errors. You had your references...but you need to make sure the references and citation are formatted according to APA guidelines. Late papers are really really hurting your grade.

Content and Organization: 70/70
Readability and Style: 14/15
Mechanics: 10/15
Total: 94/100

Measureable outcomes to be achieved within a set time frame are defined strategic objectives. Strategic objectives contain a diversity of characteristics, extending from procuring a business to new heights, advancing the organization in the direction set out by the mission statement. The Chemistry ...view middle of the document...

To offer at a fair price - nutritional, well-prepared meals - using only quality and home grown ingredients. To provide all employees with a gracious, accommodating and satisfying environment which encourages rewarding, long-term, and augmentation employment”. Based on ONNL Restaurant & Juice Bar Mission statement three objectives are being targeted via the balanced scorecard—customer retention, customer satisfaction, and customer relation. The three objectives can then be measured by retention %, survey rating, and % self initiated calls.
“A vision statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future.” (Robinson & Pearce, 2009, p. 37). Five years from now, ONNL Restaurant & Juice Bar will be rated as a "five star" restaurant in the Christiansted, St. Croix area by continuously supplying the combination of perfectly prepared natural and nutritious food and outstanding service that creates an exceptional dining experience. My sole intent will be to establish my business as a restaurant that serves well balanced meals by offering food and juices prepared from fresh organic plants, fruits and vegetables. Customers will again and again to my restaurant and juice bar because of the quality of my food and juices which will help to improve their lifestyle and health. The three objectives under the perspective of learning and growth are eemployee satisfaction, level of organizational capability, and employee turnover or retention. These three objectives are measured by survey index, skill set ratio, and turnover rate to produce a targeted percentage for in a five year period.
Customer First: Customers will always come first because they are precedence. ONNL Restaurant & Juice Bar will always do their utmost to ensure that customers are always satisfied with our food and juices.
Corporate Social Responsibility: ONNL Restaurant & Juice Bar will make our customers more health conscious and health. ONNL Restaurant & Juice Bar is committed to improving St. Croix community via our nutritious and natural food and juices.
Diversity: Diversity within the workplace will always be promoted and encouraged. ONNL Restaurant & Juice Bar will employ employees from different ethnic background, nations and culture without discrimination which will give ONNL Restaurant & Juice Bar an advantage to better serve people from different cultures.
Ethics: Our restaurant and juice bar will always adhere to the highest ethical standards in all our actions. In every aspect of ONNL Restaurant & Juice Bar ethics will be embedded and all ethical guidelines will be adhered to. Structure, objective and framework will be provided through the mission, vision, and values statements of our business to conclude all corporate actions. “A vision statement presents the firm’s strategic intent that focuses the energies and resources of the company on achieving a desirable future.” (Robinson &...

Other Essays Like Strategic Plan, Part Iii: Balanced Scorecard Paper

Strategic Plan Part 1: Conceptualizing a Business

1165 words - 5 pages Strategic Plan, Part I: Conceptualizing a Business BUS/475 October 7, 2013 Strategic Plan, Part I: Conceptualizing a Business Worlds Apart is a new concept restaurant that incorporates different dishes from all over the world into one restaurant. There will be amazing food dishes from Ireland, Germany, Mexico, Italy, France, China, and Greece, and of course, good ole down home southern dishes as well. Mission Statement Worlds Apart

Business Model and Strategic Plan, Part I

1608 words - 7 pages Business Model and Strategic Plan, Part I Connie Berg BUS/475 September 29, 2014 Dr. Abdel Mahdi Al Husseini Business Model and Strategic Plan, Part I In the world of computers, software, and digital devices innovation is the key to having the upper hand. When it comes to staying ahead of the competition Hewlett-Packard Development Company LP has figured out a way to stay at the top. As one of the lead runners in the world of technology

Strategic Plan Analysis Paper: America's Lending Solutions

1231 words - 5 pages or punish an employee because the manager has become friends. Best-case scenario, employees do things for their friend-manager for the same reason that they do things for friends; because they like to and want to help. (medhunters, 2005)Total Quality Management (TQM) has become, according to several sources, as pervasive as a part of business thinking as quarterly financial results, and yet TQM's role as a strategic resource remains virtually

Balanced Scorecard

666 words - 3 pages language that makes sense. When strategy is expressed in terms of measurements and targets, the employee can relate to what must happen. This leads to much better execution of strategy. Not only does the Balanced Scorecard transform how the strategic plan is expressed, but it also pulls everything together. This is the so-called “cause and effect” relationship or linking of all elements together. For example, if you want strong financial

Using Balanced Scorecards

5913 words - 24 pages the budget, because the periodic reviews focus on a comparison of actual and budgeted results for every line item. When is the strategic plan next discussed? Probably during the next annual off-site meeting, when the senior managers draw up a new set of three-, five-, and ten-year plans. 156 Harvard Business Review | July–August 2007 | The very exercise of creating a balanced scorecard forces companies to integrate their


3449 words - 14 pages taking in to account the expectations of different stakeholder (Johnson, et al., 2005). The Balanced Scorecard also allows a business to put together its strategic planning with its annual budgeting process (Kaplan, Norton, 1996). The areas that need to be measured are all dependent upon the business’ strategy making it flexible, but it should also incorporate both the financial and the non-financial measures that can provide a historical picture

Balanced Scorecard

818 words - 4 pages 1950’s and the work of French process engineers (who created the Tableau de Bord – literally, a "dashboard" of performance measures) in the early part of the 20th century. The balanced scorecard has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system. The new balanced scorecard transforms an organization’s strategic plan from an attractive but passive

Balanced Scorecard

818 words - 4 pages Monica Hubler: Discussion Board 4 Balanced Scorecard ACCT 614 17 September 2013 The balanced scorecard is a “performance metric used in strategic management to identify and improve various internal functions and their resulting external outcomes” (Balanced Scorecard 2013). The balanced scorecard attempts to help managers plan, control, and execute company goals by

Is Score Balance

1151 words - 5 pages Conceptual Foundations of the Balanced Scorecard The Balanced Scorecard was established by David Norton and Robert Kaplan. They believed that if organizations want to improve intangible assets’ management, they must integrate them into their management systems. The Balanced Scorecard was structured by Balanced Scorecard for performance measurement, strategic objectives and strategy maps, the strategy management system, and future opportunities

Balanced ScoreCard

600 words - 3 pages TRANSLATE YOUR STRATEGY INTO ACTIONMost organizations have a strategic plan and some kind of framework for performance measurement in place. Still, the success rate for strategic achievement is usually not as good as expected. A key reason for this is that existing management systems do not help organizations to bridge the gap between strategic planning and day-to-day operations. What is needed for success is a tool that assists your

Business Accounting

3862 words - 16 pages . What is needed is a minimum basic set of measurements across various business perspectives and aligned to our strategic plan, as the balanced scorecard prescribes. We do need to develop ISO certifications when appropriate for production team members, but the metrics for them could be simple, like “percentage coverage” and “cycle time”. After all, the purpose of the system is to clarify our situation for senior managers, not to make it more

Related Papers

Career Development Plan Part Iii Essay

1427 words - 6 pages Career Development Plan Part III: Performance and Career Management HRM 531 November 15, 2010 Performance and Career Management Performance and career management are important aspects of many businesses and corporations. Performance of employees directly affects the success of a company. Employee performance is dependent upon many factors. Many of these factors are controlled through the use of performance management. Performance

Strategic Plan Part Ii Essay

1150 words - 5 pages  Strategic Plan Part II: Swott Analysis Sonia Elias BUS/475 January 22, 2013 Robert Cantu Abstract Organizations in today’s competitive business world must include a strong and effective strategic plan. Elias Services must implement such a plan that will carry the business to new heights. This strategic plan must include a mission and vision statement that will describe what the company stands for. By using a helpful tool

Strategic Plan, Part 1 Conceptualizing A Business

1460 words - 6 pages Strategic Plan, Part 1 Conceptualizing a Business Mission, vision, and value statements are significant elements, which serve as directives for a firm’s strategic initiatives. Firms construct their business, corporate, and tactical approaches and goals. The presented paper is a descriptive examination of Awesome Arcade’s mission and vision and how these statements will differentiate Awesome from the competition. Additionally, presented are

Strategic Plan Part 1: Conceptualizing A Business

1301 words - 6 pages Strategic Plan Part 1: Conceptualizing a Business Strategic Plan Part 1: Conceptualizing a Business Strategic planning is critical to the success of any business, especially new emerging ones. “Once a firm has committed itself to a particular strategy, its image and competitive advantages usually are tied to that Strategy”(Pearce & Robinson, 2009, P. 3). This strategic plan will map out the path for Bentley IT Services. The definition