...are defined strategic objectives. Strategic objectives contain a diversity of characteristics, extending from procuring a business to new heights, advancing the organization in the direction set out by the mission statement. The Chemistry Consulting (n.d.) website states, during strategic objective sessions it’s important to ensure that objectives can work within the framework of the mission, value and goal statements developed earlier in the planning process, and that the organization develops specific strategic measures or benchmarks to asses how well it does in obtaining its objectives. Balanced Scorecard |Perspectives |Objectives |Measurements |Targets | |Financial |Maximum Returns |Return on Equity |15% | | |Revenue growth |% Change in revenues |+13% | | |Utilization of Assets |Utilization rates |11% | |Customers |Customer Retention |Retention % |80% | | |Customer satisfaction |Survey...
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...Implement Required Activities into a Yearly Training Plan Strength Maintenance Training Center Class 14-001 December 9, 2013 YEARLY TRAINING PLAN 2 Yearly Training Plan ONE MORE! The motto that’s frequently heard in Washington when an applicant has enlisted in the WAARNG or a Soldier has interstate transferred into the WAARNG. The WAARNG continues to strive to meet yearly mission goals with recruiting qualified personnel, retaining their veterans, and maintaining end strength. As the ARNG moves into a new fiscal year, the WAARNG begins another successful year in accomplishing their Yearly Training Plan. Officer Professional Development / Non-Commissioned Officer Professional Development training, Monthly/Quarterly counseling, Mandatory Training programs (Comprehensive Soldier Training, SAEDA, SHARP, etc.), and OER/NCOER evaluations are just a few items planned for the Washington Army National Guard FY14 Yearly Training Plan. For the recruiting and retention force, accessions for FY14 mission have decreased for WAARNG which will allow the RRNCOs to attain their goal of making mission. Regardless of new accession numbers, RRNCOs will continue recruiting beyond was has been established. Within the WAARNG Reserve Sustainment Program (RSP), new warriors continue to progress through different phases of Soldier Training Readiness Modules (STRM). RSP units within WAARNG highlight common task training, academics, and physical readiness throughout different phases of...
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...Quality Small Auto Repair and Detail, LLC By xxxxxx UMUC 655 Mission Statement: Our mission is to provide the highest quality of auto repair and detail services to its valued customers by using technologically advanced diagnostic systems with the utilization of highly trained mechanics and technicians. Our mission is to grow the company and deliver quality efficient services at extremely competitive price points in a clean customer friendly environment. Financial Perspective: To succeed financially, how should we appear to our shareholders? To accomplish this perspective we track our financial requirements and performance: Objective | Measures | Targets | Initiatives | Increase Sale Revenue | Weekly sales Revenue all departments | 20% increase per year | Sales training | Decrease Purchasing cost | Inventory cost statement Decrease by 15% | Purchasing group | Purchasing group | Inventory control | Inventory management | Inventory turn to 36 | Just in time inventory | Increase profit | Net income | Increase by 20% | Reduce variable cost and increase revenue | (Kaplan, R. S. (2010) “Financial outcomes are separated causally and temporally from improving employees’ capabilities. The complex linkages make it difficult if not impossible to place a financial value on an asset such as workforce capabilities or employee morale, much less to measures changes from period to period in such a financial value” (p. 9)...
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...DEPARTMENT OF ENERGY FEDERAL PROCUREMENT SYSTEM BALANCED SCORECARD PERFORMANCE ASSESSMENT FY2003 2 MISSION To provide acquisition and assistance services to support accomplishment of the Department’ s programmatic goals and objectives. VISION To deliver on a timely basis the best value product or service to our customers while maintaining the public’trust and fulfilling public policy s objectives. STRATEGY To change the present system’culture, management s systems, and line processes consistent with the principles of Quality Management, in order to establish and maintain: a customer focus, a sense of urgency, continuous and breakthrough process improvement, and an emphasis on results. 3 BALANCED SCORECARD STRATEGIC PERSPECTIVES CUSTOMER What must we excel at? How do our customers see us? FINANCIAL MISSION VISION STRATEGY LEARNING AND GROWTH INTERNAL BUSINESS PROCESSES Do we get the best deal for the Government? Do we continue to improve and create value? CUSTOMER To Achieve Our Vision, How Should We Appear To Our Customers? 4 FINANCIAL To Succeed Financially, How Should We Appear To Our Stakeholders? MISSION VISION STRATEGY INTERNAL BUSINESS PROCESSES To Satisfy Our Stakeholders and Customers, What Business Processes Must We Excel At? LEARNING AND GROWTH To Achieve Our Vision, How Will We Sustain Our Ability To Change And Improve? BALANCED SCORECARD PERSPECTIVES AND OBJECTIVES CUSTOMER - Customer Satisfaction...
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...WEEK 10 Starbucks Balanced Scorecard University of Maryland University College Professor AMBA 630 12/14/2015 Table of Contents Executive Summary……………………………………………………………………………3 Balanced Scorecard for Starbucks Coffee Company-Figure…………………………………..4 Vision Statement…………………………………………………………………………….…5 Mission Statement…………………………………………………………………………...…5 Values................................................................................................................................…….5 Balanced Scorecard for Starbucks Coffee Company………………………………………….6 Financial Perspective ………………………………………………………………………….6 Customer Perspective………………………………………………………………………….8 Internal Perspective……………………………………………………………………………9 Employee Learning and Growth……………………………………………………………...11 Conclusion……………………………………………………………………………….……13 References…………………………………………………………………………………….14 Appendix……………………………………………………………………………………...16 Executive Summary The balanced scorecard is a technique that helps organizations to implement strategies to reach their mission and vision. In this paper, I will discuss a balanced scorecard that managers of Starbucks Coffee Company should use to measure their business. The first store of Starbucks opened in Seattle, Washington. Jerry Baldwin, Zev Siegl and Gordon Bowker got the idea from Alfred Peet. At first, only coffee beans and coffee making equipment were being sold, but after 10 years Howard Schultz was hired as Director of Retail Operations and he wanted...
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...The federal government has encouraged and sometimes demanded diversely in the workplace. Without a dedicated human resource management team, this would be difficult to do. Businesses require specialized skills and because of this, human resources have to be carefully monitored who was hired. Human resources do not want to hire and train someone who does not have the skills to do the job required. Human resources play a large role in training and development of employees. Human resource managers provide orientation for new hires and make sure employees are properly trained and qualified, as required by the federal government and company guidelines. Human resource apartment designs programs for employees, to ensure higher production and retention rates. This is just a portion of what the human resource management...
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...Strategic Management Lynn Johnson University of Phoenix BUS/475 Phillip Cram March 29, 2010 Developing a strategic plan is imperative for any business. Part of the strategic planning process is creating objectives that will help an organization reach their long-term goals. For this to occur, senior management must use a balanced scorecard that will enable them to focus on their strengths, weaknesses, opportunities, threats, and trends within their industry. The Body Shop is a leader in the skincare industry because this organization’s strategic plan centers on their mission statement. However, as all businesses, The Body Shop creates objectives that help strengthen their market, while maintaining their goals. This is the basis for sound strategic planning, and this is why The Body Shop is the leader in the skincare industry. Shareholder value or financial perspective To improve shareholder value or financial positioning, senior management believes it is time to expand globally, and the first area is market share. According to research, the European population is growing and health and skincare awareness is increasing in these regions. Marketing will research different segments of the European market, such as geographic, social, and the behavioral environment, and profile those segments into categories. Once this is completed, marketing will create a strategy that entails extending the product line, increase direct and indirect sales, and broaden the organization’s...
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...HRM592 Project – Final Background The Office of Inspector General (OIG) is an organization within the Department of Defense (DoD) with the mission to provide independent, relevant, and timely oversight that supports the warfighter and the American taxpayer by promoting accountability, integrity, and efficiency. In addition, the organization provides information to the Secretary of Defense, Congress, and the public. I am an employee in the Learning Office so that is my reason for selecting this organization for my project. In accordance with Title 5 410.201, federal agencies are required to develop training plans and programs that support a workforce capable of achieving an agency’s mission and performance goals. DoD OIG’s strategic plan goal 3.l.2 is to identify core skill requirements for each position and identify/develop training to provide opportunities for staff to attain necessary core skill. An enterprise-wide competency and training needs analysis questionnaire will assist the organization in meeting the needs of both Title 5 401.201 and strategic plan goal 3.1.2. The development of a core competency model will provide an integrated approach for supporting the mission, goals, and strategies of the organization. A core competency model will assist with establishing succession management, aligning training and development to skill gaps, and planning for future workforce needs. The identified core and technical competency models will be used to leverage...
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...Name: Richard Brown Week 4: Career and Company Research Template and Grading Rubric ------------------------------------------------- This document contains the template you will use to complete this assignment. Save the file by adding your last name to the filename (e.g. Week4_Career_Company_Research_Template_Smith.docx). Be sure to proofread and spell check your work before you submit it. ------------------------------------------------- A grading rubric is also available at the end of this document. There are TWO parts to the Career and Company Research assignment. Part 1: Complete the table below and link your one-, two-, and five-year goals (recall that you identified these in the Week 2 Self-assessment Assignment) to specific company research. You can also use employers you identified in the Week 2 assignment if you wish. (50 POINTS) GOALS | One-year Goal | Two-year Goal | Five-year Goal | | My one-year career goal is . . . (state your goal here)Once I finish my Bachelor December 2014, I intend to attend Grad school, and on the same time open the business that I am longing to start and that by early next year. | My two-year career goal is . . . (state your goal here)I intend to finish Grad school and be able to teach in special education. | My five-year career goal is . . . (state your goal here)Retire on my second career. If I plan it right and continue placing big amount in my TSP I should be able to retire after 8 years in Federal which put me in total...
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...Perform a detailed critique of the Employee Retention Committee meeting. List the occurrences or omissions that you believe indicate faulty committee practice, and state why you believe so and what should have been done differently. The Employee Retention Committee meeting was very unorganized. It was not well prepared for, and no new information was gathered at this meeting. Dave Andrews, an administrative assistant called the meeting about 10 days earlier than suppose to. The meeting was scheduled for 1:00 p.m. The meeting actually ended up at starting at 1:18 due to the unpunctuality of some members and Andrew. There were not enough chairs for every one to sit at the meeting, neither was the conference room big enough for everyone to be seated comfortably. Andrews said, “I guess we can get started now.” He shuffled through a stack of papers and said, “I’ve got a copy, if I can—oh, here it is—of a recent turnover survey done by the human resources directors in the region.”...
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...Compensation Nikolette Arnold Letu How should a compensation plan reflect an organization’s mission statement and core values? The company’s mission and vision statements reflect its core values. For the same reason, having the right vision and mission statement is of outmost importance as it serves as a guiding principle for organizations to be able to stay focused on what they intend to do and how they should do it (Evans, J., 2010). Most organizations that have aligned their activities with their vision and mission statements have gained more than satisfactory results. Part of an organization’s strategic development is the setting of goals that coincide with their core business values. For example, a product manufacturer would ask, what is the purpose of making these products? How do I market these products? In the face of the competition, how would I know that consumers would buy these products? In addressing these questions, one would need to have a clear goal of what particular product he would manufacture and the intended market for the said products. Apparently, the product must have an edge whether in pricing, design and other value adding strategies in order to become sellable. In this regard, a manufacturer sets a vision of what he wishes to accomplish; should he want to become the leading producer of sports apparel. In order to accomplish that, he sets his mission, if it be producing the best sports apparel using only the best material in the market. In...
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...NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: Tyre Smith THIS FORM MUST BE COMPLETELY FILLED IN Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: SMITHTMGT7000-8-3 | Save a copy of your assignments: You may need to re-submit an assignment at your instructor’s request. Make sure you save your files in accessible location. Academic integrity: All work submitted in each course must be your own original work. This includes all assignments, exams, term papers, and other projects required by your instructor. Knowingly submitting another person’s work as your own, without properly citing the source of the work, is considered plagiarism. This will result in an unsatisfactory grade for the work submitted or for the entire course. It may also result in academic dismissal from the University. | | MGT7000-8-3 | David Bouvin | | | Strategy Development | Assignment 3 | | | No comments ------------------------------------------------- ------------------------------------------------- Faculty Use Only ------------------------------------------------- <Faculty comments here> ------------------------------------------------- ...
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...Human Resource Management Overview HRM/300 Human Resource Management Overview Human Resource Management is commonly in larger companies. Human Resource Management (HRM) is the function within an organization that focuses on recruitment, management, and providing direction for the people who work in the organization. HRM is the organizational function that deals with issues related to people such as compensation, hiring, performance management, organization development, safety, wellness, benefits, employee motivation, communication, administration, and training (Heathfield, 2013). HRM is also a strategic and comprehensive approach to managing people and the workplace culture and environment. An effective HRM enables employees to contribute effectively and productively to the overall company direction and the accomplishment of the organization's goals and objectives. HRM must also develop mechanisms that will help multicultural individuals work together. As background, language, custom, or age differences become more prevalent, employee conflict is likely to increase. HRM must make every effort to acclimate different groups to each other, finding ways to build teams and thus reduce conflict (DeCenzo & Robbins 2007). Primary Function of Human Resource Management Human resource management’s primary goal is to improve the contribution of the employees to benefit both the company and the employee. This goal is complicated and always changing as the needs of the workforce...
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...FROZEN ROCK-SOLID At General Motors of Canada Ltd., Nick Vanderstoop is in charge of implementing a system that he created to prevent the “erosion of knowledge”. He loves to scare the daylights out of GM executives and managers by telling them a true story about the company. The story goes something like this: Several years ago a worker at the head office of General Motors Canada Ltd. In Oshawa retired. Among the many tasks that were performed by him, one was particularly important. Every fall he would spend about an hour sending messages to inform others that certain freezable chemicals like upholstry cleaners must be shipped in heated trucks during the winter. A few months after he retired, the parts distribution centre in Woodstock, Ontario, began to receive calls from angry customers across Canada who were upset because the chemicals they were receiving were frozen rock-solid. The reason: nobody in the company knew enough about the retiree’s job to make sure that the chemicals were properly transported during the winter. A minor oversight? Not quite. It cost the company $1.5 million. Other incidents at GM have also been reported. For example, 400 perfectly good carburetors were accidently destroyed at a cost of $300,000 because the worker who kept them off the scrap list retired. It has also been reported that a $250,000 car prototype was crushd into scrap metal because the employee who was responsible for it was transferred. Incidents like these are known to occur...
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...Sales Relationship Paper University of Phoenix – MKT 445 June 23rd , 2012 Customer retention and customer acquisition have become a crucial part of business. Severe competition has allowed for these two methods to be a relevant force within organizations for the sole purpose of survival. Customer retention is the process of maintaining a substantial amount of valued customers. On the other hand, customer acquisition is the process of attaining new customers. Similarities and differences are present in the retention and acquisition of customers. In business-to-business and business to customers, sales relationship approaches are used inversely during sale activities to secure retention. Comparison/Contrast The expense for customer retention and customer acquisition varies within each organization but have similarities with its implications. Some similarities include the purpose activities, strategies and direct relationship. • Purpose: The purpose of a business to devote efforts to customer retention and customer acquisition is to increase sales of a product or service. Businesses implement these two activities to secure a large base of customers. • Activities: The expenses accrued for performing customer retention and customer acquisition exists in business-to-business and business to customer. • Strategies: Cost of strategies used for retaining and acquiring the customer is also identical in terms of sales activities. • Direct relationship:...
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