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Learning Team Week 3 Reflection

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Learning Team Reflection
Marlon Bailey, Timothy Granger, Nadia Martinez, and Sherie Ralston
MGT 598
August 3, 2015
Dr. James Bottorff

Learning Team Reflection
During Week, Three Learning Team B will discuss this week’s objectives with our team. This paper will explain the topics we feel comfortable with, any topics the team members struggles with, and how the weekly topics relate to application in each of our fields.
Steeple
The topic Sherie struggled with was Steeple. “To take a closer look at the business system and ‘bigger picture' factors in which the business operates; it is useful to use a technique like the STEEPLE analysis. STEEPLE, like SWOT, is an acronym. It stands for ‘social (demographic), technological, economic, environmental (natural), political, legal and ethical’ factors” (Wickham & Wickham, 2008, p. 129). Sherie was unaware of how effective these tools are to help organizations monitor changes that take place in the environment of the organization. She learned that these tools played a significant role for any organization regardless of their products, services, and their industry.
Balanced Scorecard After reading the paper by Kaplan and Norton, Timothy discovered through other readings that they are somewhat the basis for using the balanced scorecard system. Although at first it seemed a little foreign to him, he discovered that most companies only take the tangible items that are backed with a financial gain to assess the corporation's progress. Using the balanced scorecard “describes how intangible assets get mobilized and combined with intangible and tangible assets to create differentiating customer-value” (Kaplan & Norton, pg. 89). Some of these intangibles are employee training and customer service. Although these will increase the company's growth, it does not increase the bottom line immediately, but will assist in...

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