Strategic Plan, Part Iii: Balanced Scorecard Essay
BUS/475 – Integrated Business Topics
December 9, 2012
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.
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Learning and Growth Perspective “To achieve our mission, how must our organization learn and improve” (BSI 2009, ¶5). This perspective can be considered the foundation upon how the balance scorecard is built and it will include employee training and the company’s cultural attitude and how these two are related to the company’s self-improvement. This area of the balance scorecard is to focus the company on how they can facilitate further improvements while addressing technological changes. The strategic objectives should focus on maintaining experienced employees who constantly develop their skills and information from constant training. The strategic objectives for Body by Design Health and Fitness will be to recruit constantly and retain a highly skilled workforce, increase employee satisfaction and retention, improve organizational trust & teamwork, and improve use of technology in the company. The performance measures that Body by Design Health and Fitness will need to implement are ensuring proper of products and services, constant training and retraining, customer