Flipping Houses – Balanced Scorecard

Paper instructions:
Strategic Plan, Part III: Balanced Scorecard
Resources: Exhibit 7-1 in Ch. 7 of Strategic Management

Develop the strategic objectives for your business (FOURTH GENERATION REAL ESTATE) in the format of a balanced scorecard. The strategic objectives are

measures of attaining your vision and mission. As you develop them consider the vision, mission, and values for your business and the outcomes of your SWOT

analysis. Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:

Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:

-Market share

-Revenues and costs

-Profitability

-Competitive position

Customer Value Perspective, includes strategic objectives in areas such as:

-Customer retention or turnover

-Customer satisfaction

-Customer value

Process or Internal Operations Perspective, includes strategic objectives in areas such as:

-Measure of process performance

-Productivity or productivity improvement

-Operations metrics

Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:

-Employee satisfaction

-Employee turnover or retention

-Level of organizational capability

-Nature of organizational culture or climate

-Technological innovation

Develop at least three strategic objectives for each of the following four balanced scorecard areas identified above (Financial, Customer, Process, Learning and

Growth). Your objectives should be selected, in part, based on an evaluation of a number of potential alternatives to the issues and/or opportunities identified in the

SWOTT Analysis paper and table you completed in Week Three. Base your solutions on a ranking of alternative solutions that includes an identification of potential

risks and mitigation plans, and a stakeholder analysis that includes mitigation and contingency strategies. You should also incorporate the ethical implications of your

solutions into your selection.

For each strategic objective, develop a metric and target using a balanced scorecard format. (For example, a strategic objective in the shareholder or Financial

Perspective is to increase market share. A metric to actually measure this strategic objective of market share increase is, “The percentage of increase in market share.”

The target is the specific number to be achieved in a particular time period. The target for the metric of “Increase market share” could be “Increase market share by

2% for each of the next 3 years” of an increase of 2% per year for 3 years.)

 

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