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Strategic Planning Week 3

In: Business and Management

Submitted By allforthefuture
Words 1301
Pages 6
April Titus
Business Model and Strategic Plan Part III:
Balanced Scorecard and Communication Plan
BUS/475
February 23, 2015
Elaine Boyle

Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Many medium and most large companies and corporations incorporate the use of a balanced scorecard and a communication plan to further their business. According to Balanced Scorecard Institute (2015), “The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organizational performance against strategic goals.” It is important for companies to set goals and a way to measure each goal so that progress can be tracked in efforts to ensure the goals are being met. Not only must companies track their specific goals, but there must be a plan to communicate what is happening. According to Project Management Knowledge (2010), “The communication management plan is the written document that outlines, highlights, and details the communications needed and expectations for the entire project.” The new division of the company, XFINITY Streaming, has a scorecard and communication plan to follow to ensure its success.
Financial Perspective When a company takes creates a new division there are expectations for growth as well a need to control costs. It is important to set the goals in this area so that success can be determined, which will inevitable determine if the new division will be maintained or disregarded. Comcast can determine XFINITY Streaming has met their goals by looking at three areas. First, increase in revenue. An increase in 2.5% of annual revenue the first year followed by a 5%…...

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