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Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan

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Running head: BUSINESS MODEL AND STRATEGIC PLAN PART III: 1 Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Terri Harris BUS/475 April 10, 2017 Fritz Hibble ... r This study source was downloaded by 100000851296032 from CourseHero.com on 11-01-2022 16:18:13 GMT -05:00 https://www.coursehero.com/file/22127940/wk-4-Harris-Business-Model-and-S/ BUSINESS MODEL AND STRATEGIC PLAN PART III: 2 Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Nike, Inc. has an organized approach for analyzing strategic initiatives and it is called a balanced scorecard. The balance scorecard has four categories (end-user experience, financial perspective, learning and growth, internal processes) and is designed to optimize a specific area of performance from within the company. The end-user experience is considered with the customer value, financial perspective is intended to list strategic initiatives that will improve shareholder value, employees and corporate culture are accounts for the learning and growth. The last, internal process, provides initiatives that are aimed at improving operational efficiency (Unknown, 2017, para 1). All four of these categories serve as core pieces for the strategic plan of Nike, Inc. Balanced Scorecard A balanced scorecard is defined as “a strategic planning and management system which considers non-financial aspects of corporate performance, such as customer satisfaction and business processes, to create a complete picture of how the company is likely to perform in the future” (Magloff, 2017, para. 1). The balanced scorecard is used extensively worldwide by governments, nonprofit organizations, businesses and industries. A balance scorecard is also used as a performance measurement to add strategic non-financial performance measures to traditional financial metrics to give managers and executives a more ‘balanced’ view of organizational performance (Unknown, 2017, para 4). Table A is the balanced scorecard of Nike, Inc. and outlines the customers, financial, proc [Show More]

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