Strategic Plan Part Iii: Balanced Scorecard Essay
A balanced scorecard is a method company’s use to measure their performance. It includes objectives, strategies, and tactics. This paper will contain two strategic objectives for each of the four balanced scorecard areas (shareholder value or financial perspective, customer value perspective, process or internal perspective, and learning and growth perspective) for H & R Block. It will also have two strategies for every objective, one tactic for each strategy, and two methods to monitor and control the overall strategic plan for H&R Block.
The shareholder value or financial perspective includes strategic objectives in areas such as market share, revenues and costs, profitability, and …show more content…
One method that will be used to monitor and control the strategic plan is appointing a coordinator that will collect updated summary/status reports from the store managers monthly. He or she will make sure all objectives are on track. He or she will make note of shortfalls, needs for meetings and document the progress and email it to all participants. The questions on the summary/status reports will be:
1. Are objectives being achieved or not?
2. Will the objectives be achieved according to the timelines specified in the plan?
3. Should the deadlines for completion be changed?
4. Do personnel have adequate resources (money, equipment, facilities, training, etc.) to achieve the objectives?
5. Are the objectives still realistic?
6. Should priorities be changed to put more focus