Strategic Plan, Part III: Balanced Scorecard Essay
Strategic Plan, Part III: Balanced Scorecard
The paper will outline and explain the strategic objectives for the company C&C Enterprise Incorporated using the format of the balanced scorecard on page 5. The balanced scorecard provides a framework to translate a strategy into operational terms, thus providing measures of the following four quadrants: . Financial, Customer Value Perspective, Process or Internal Operations Perspective, and Employee (Learning and Growth). Finally, the objectives selected is based on an evaluation of a number of potential alternatives and opportunities identified in the company’s SWOTT Analysis.
The firm’s financial objective is to increase the medical transportation service specifically in the dialysis medical transport area. The firm believes two percent gains per year for the next five years will increase the firm’s market share by 10 percent within a five year- period. The firm’s strategy will start with an aggressive sales campaign to potential dialysis customers, including bidding on government contracts. The firm revenues will increase and costs is better managed with a new tracking and billing technology.
The firms realize acquiring the capability to asset profit margin per job (trip) the firm can better asset target markets for future growth. The firms understand the value of their customers and the objectives like operator client specific maintains a personalize business relationship with customers. This type of service will increase retention and comfort for the client. Next to measure the customer response to the service provided, the firm will implement monthly performance surveys to the customer.
The surveys will reveal weaknesses and strengths for management and operators resulting in increased value for the customer and the firm. The firm’s also understand the balance of retention (repeat use of the service) and providing the customer with reminders when his or her next medical appointments are. In addiction tracking customer’s airlines schedules to ensure on time pickups are proactive measures customers will value. For example, the firm has confirmed a return pickup from the airport at a specific time.
In this case the operator (driver) is electronically transfer information about the customer afterward; the operator will use the information to track the flight and meet the client exactly on time when he or she arrives. As for transporting medical appointments trained operators will accompany clients into medical appointments with the purpose to gather information regarding the appointment completion. The objective to add customer value and ensure a pleasant visit knowing he or she does not concern themselves with late return pickups.
To summarize, the firm is confident by implementing, operator client specific, monthly surveys, appointment reminders, discount rates for frequent riders, and transporting tracking will increase customer value. The commitment to operational excellence with a specific strategic approach to the internal functions of the transportation services is the key to a successful strategy. As a step toward operational excellence the firms objective to implement the following GPS Technology, Electronic Billing Capabilities, Digital Vehicle Maintenance, Video Capabilities, and Integrated Accounts Payable and Receivables Technology.
Each of the tools stated will increase functional operating efficiencies, for example, the GPS will increase customer service by ensuring the shortest route available for customer’s, thus providing cost savings for the customer and expense to the firm. The electronic vehicle maintenance software will increase vehicle readiness, reduce redundancy repairs, and create a preventative approach to vehicle repairs and maintenance. The video recording ensures the safety of both the passenger and the operator.
The ability to review activity on vehicles intensifies the operator performance when he or she is conscious of the desk cam recording. Understanding activity inside the vehicle while transporting customers will increase the marketing perspective of satisfying the customer. In finally, the ability to connect account payable and account receivable electronically will increase the flow of operations, thus increasing revenues and decreasing errors caused by inefficiencies and human error. Moreover, the firm understands accounts deficits can threaten the finical strength and the
ability to do business. Maintaining a strong balance operation of accounts not only ensures the firm’s strength but also increase the shareholders confidence of the firm’s performance. According to Pearce and Robinson, Jr. (2009), a central goal with any strategy is the survival, growth, and improved competitive position of the company in the face of ever-accelerating rates of change (Chapter 7). The firm’s understands that offering a variety of professional services will strengthen the firm’s position with competitors.
For example, training staff with the qualification to obtain a higher core knowledge and skill strategically position the firm to add more services. Most of all offering a full service transportation service is the optimal strategy for increasing market-share. In conclusion, by increasing the core competencies of staff motivates staff to part of the strategic plans and survival of the firm. References Pearce II, J. A. , & Robinson, Jr. , R. B. (2009) Strategic Management (11th ed. ) Retrieved from The University of Phoenix eBook Collection database.