Strategic Plan Part III: Balanced Scorecard and Communication Plan

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Assignment Steps

Create a minimum 1,400-word paper with the following elements:

Include your balanced scorecard and its impact on all stakeholders, and the communication plan.

Develop the strategic objectives for Nike in a balanced scorecard format in the context of key trends, assumptions, and risks. The strategic objectives are measures of attaining your vision and mission. As you develop them, consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis.

Note: NIKE is the divisi

Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:

  • Shareholder Value or Financial Perspective, which includes strategic objectives in areas such as:
    • Market share
    • Revenues and costs
    • Profitability
    • Competitive position
  • Customer Value Perspective, which includes strategic objectives in areas such as:
    • Customer retention or turnover
    • Customer satisfaction
    • Customer value
  • Process or Internal Operations Perspective, which includes strategic objectives in areas such as:
    • Measure of process performance
    • Productivity or productivity improvement
    • Operations metrics
    • Impact of change on the organization
  • Learning and Growth (Employee) Perspective, which includes strategic objectives in areas such as:
    • Employee satisfaction
    • Employee turnover or retention
    • Level of organizational capability
    • Nature of organizational culture or climate
    • Technological innovation

Create at least three strategic objectives for each of the four balanced scorecard areas, with a specific metric and target for each strategic objective, using the balanced scorecard format.

Example for financial perspective/quadrant:

Objective: increase market share

Metric/Masurement: the percentage of increase in market share, compared to the previous quarter

Target (specific number to be achieved in a particular time period): Increase market share by 2% for each of the next 3 years.

Identify potential risks and describe your mitigation plan (solutions).

Describe ethical implications of your solutions.

Outline a brief communication plan discussing how you will communicate your division’s strategic objectives to employees and other stakeholders including the following:

  • Define the purpose.
  • Define the audience.
  • Identify the channel(s) of communication and why you selected that channel.

Format your assignment consistent with APA guidelines.