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Balanced Scorecard and Communication Plan

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

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

The balanced scorecard is vital for a healthy growing business. It is an essential component for defining the goals and targets of the business. "The Balanced Scorecard is a tool that is widely used to help a company achieve its financial objectives by linking them to specific strategic objectives derived from the company's business model" (Pearce, 2013 ). This paper will reference Stater Bros. Kiddie Korner's values, mission, vision and SWOTT Analysis with the four perspectives of the scorecard that includes financial performance, customer knowledge, internal business process, and learning and growth. Financial Perspective/Shareholder Value Sater Bros. has strong values, vision, and mission statement. Having these elements in place will help our new division reach our goals and achieve targets. When evaluating financial perspectives and shareholder values, we must ask ourselves: “how can we ensure value and sustain financially moving forward?" The objectives of Sater Bros. financial perspective is to increase revenues, manage operating cost, and improve sales. To accomplish these goals, we will utilize our drop-in childcare service to increase sales. Customers will spend more time in the store without the hassle of having children in tow. Also, over time we will find new and innovative ways to decrease operating cost while adding value to our customers. We will accomplish this by using financial reports to evaluate out financial productivity and stability.

Customer Value Perspective Our customers will determine if we are successful. State Bros Kiddie Korner will work to increase customer satisfaction

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