United Charters of America Balanced Scorecard 1

Strategic Plan for United Charters of America, Phase Three: Balanced Scorecard BUS/475 University of Phoenix April 1, 2013

Strategic Plan for United Charters of America, Phase Three: Balanced Scorecard

United Charters of America Balanced Scorecard 2 Traditional financial measures ROI, net profit, sales growth, and market share fail to capture the true picture of a firms value propositions because they focus on the past. They tell the story of what has happened to the organization. They explain the results of past transactions and disregard what the future benefits could be (M3 Planning, 2012). A strong, balanced scorecard helps companies implement specific measures in their business operations effectively. Operating a business can be difficult for the proprietors and other stakeholders within the organization. Therefore, they require teams of well-organized, motivated individuals to articulate strategies that give them a competitive edge in the marketing environment. The balanced scorecard is a set of four measures directly linked to a companys strategy: financial performance, customer knowledge, internal business processes, and learning and growth (Pearce and Robinson 2009, p. 202). United Charters of America must construct a balanced scorecard to support the company by clearly defining its vision, mission, values and strengths, weaknesses, opportunities, threats, and trends (SWOTT) analysis. The balanced scorecard will clarify the four viewpoints that include finances, customers, internal business processes, learning, and growth accordingly (Kaplan and Norton, 2010). Stakeholder Value or Financial Perspective United Charters of America (UCOA) can have strong business operations if the company wisely evaluates its actions. UCOA must examine its business operations, consumer fulfillment management, and annual income growth. The company must also reduce business operations costs and examine its ability to be financially stable. UCOA can accomplish its goals effectively described in the vision and mission statements if the activities and methods of measures include in the companys strategic planning. During

United Charters of America Balanced Scorecard 3 the process, the use of the balanced scorecard will be helpful to assist with eliminating the waste of company resources. Customer Value Perspective Because United Charters of America is a new organization and consumers (parents/students) will have to evaluate the business to help the company determine if it is successful in its business operations. Consumer fulfillment, offering higher quality services to the target audience, public knowledge about the business, and participation in community activities will help United Charters of America build a respectable name within a community. United Charters of America will continually observe consumer satisfaction through continual research which consists of both parent and employee surveys. The feedbacks from consumers will help to determine if established objectives have been achieved. Additionally, it will produce an increase in the business operations within the community also provide incentives to loyal consumers who are committed to helping the company improve its services. Process or Internal Operations Perspective The internal business process perspective demonstrates the most crucial internal processes for the companys strategy to be successful (M3 Planning, 2012). United Charters of America will create a plan for the activities within the business that will plainly detail the specific objectives of daily operations. The companys plan will be significant in many areas including, but not limited to, improving the face of the organization in the marketing environment, ensuring that the business provides quality services and goods to consumers, and researching and providing other goods and services (e.g., Before and Aftercare). Upper management will observe the business steps to make

United Charters of America Balanced Scorecard 4 sure that activities are performed properly. Even in the school setting, parents find value in being shown appreciation for their loyalty. As such, the company will ensure that there are programs in place that reward parents (customers) for having their children enrolled in the school for a number of years and/or who demonstrate a love for the schools by the time they commit to the schools. Additionally, advertisements can help to retain present and attract new consumers. Learning and Growth (Employee) Perspective The learning and growth perspective asks the important question of, Can we continue to improve and create value? It points out the infrastructure the company must build in order to establish long-term growth and continuous improvement. The perspective will assist the company with the creation of continual education for employees and business cultural behavior through business adjustment. United Charters of America will concentrate on adjusting to modern technology. The activities must focus on keeping disciplined workers who can improve their knowledge through continual education. This is especially important for those who work in the field of education. The companys objective is to employ and retain well-disciplined employees, create a positive work environment, improve organizational abilities and adjust to modern technological systems. Fundamentally, United Charters of America will have to measure the process performances to ensure that educational services, consumer satisfaction, and a minimized employee turnover are achieved for better outcomes. The creation of United Charters of Americas vision and mission statements are the basics for a stable business operation. However, for better results United Charters of America must outline strategies that have simple and clear communication channels from managers to employees are present

United Charters of America Balanced Scorecard 5 within the organization. The company has to create a balanced scorecard that can assist persons involved in the operations in determining suitable processes to accomplish these activities. Finally, a successful business has to clearly identify its learning and growth, finances, consumer, and processes of internal business. The strategic plan outlines the four perspectives explained earlier and each perspective includes objectives, targets, measures and initiatives.. United Charters of America must use the four measures to accomplish its activities. Shareholder Value or Financial Perspective The financial performance measure will change based on the long-term objectives and strategies in business growth, sustain and harvest stage (M3 Planning, 2012). Objectives Increase market share of previous year Increase annual income Use company resources Limit company expenses Reduce the number of expenses Ability to sustain financially Measures Return on share Money goes toward business expenses Profit on investment Profit on capital

United Charters of America Balanced Scorecard 6 Targets Gain measure about 18% Market share will grow about 2% every year Initiatives Search for other organizations in the similar business Customer Value Perspective Objectives Offer higher quality products and services to target audience Public knowledgeable about the business Participate in community activities Measures Consumer fulfillment needs about 100% Increase clientele base about 24% Initiatives Provide incentives to consumers Business growth Process or Internal Operations Perspective Objectives Effective steps within the operation Search for other products Use the resources wisely to purchase other organizations to increase value to the business Measures

United Charters of America Balanced Scorecard 7 Reduce reproduction of similar products Observe annual income of modern systems Observe worker and consumer satisfaction Targets Consumer growth about 40% Fulfillment needs about 100% Decrease percentage of consumers from returning products about 20% Initiatives Discounts or incentives Advertisement Learning and Growth (Employee) Perspective Objectives Hire and keep well-disciplined individuals Better worker fulfillment needs Adjust to modern technological systems Measures Strong observation Ongoing education Satisfy consumer needs Reduce worker transfer percentage Targets Employee motivation about 100% Initiatives

United Charters of America Balanced Scorecard 8 Free education Maximize employee evaluation Modern electronic invoicing

United Charters of America Balanced Scorecard 9 References Kaplan, R. S., & Norton, D. P. (2010). Balanced Scorecard. Retrieved June 5, 2010, from http://www.controllerverein.com/Balanced_Scorecard.128144.html Pearce, J. A. II, & Robinson, R. B. (2009). Strategic management: formulation, implementation and control (11th ed.). New York: McGraw-Hill.