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Strategic Plan Part 3

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Business Model and Strategic Plan Part III
In this part of the strategic plan, the student will discuss the balanced scorecard and the affects it will have on the different perspectives of CMS Energy Corporation. The different perspectives include shareholder value or financial perspective, customer value perspective, process or internal operations perspective, and the learning and growth perspective. To begin this plan, we must identify the balanced scorecard with a definition. The balanced scorecard is defined as “a set of four measures directly linked to a company’s strategy: financial performance, customer knowledge, internal business processes, and learning and growth” (Pearce and Robinson, 2009, p. 202). The balance scorecard is an essential …show more content…

When there is ups and downs within the market structure as well as the delivery of the product or services this is related to customer satisfaction. The more a customer is engaged and satisfied with the company, the more the brand image will increase in the market, yet there must be consistency in value and quality of the product provided by CMS Energy. Therefore with the recommendation of the Mega Meter, customers should be included in the decision on whether the implementation and design of this product would be a feasible item the customer would view as an appropriate safety measure for all concerned. It is up to CMS Energy to generate the awareness of the new product and define what it would mean to the customer. This awareness would let the customer know that the Mega Meter would generate less time of outages, control the fallen lines by implementing a short circuit through the down lines, as well as forecast any wear and tear on the line before it falters. This information is gathered to answer the question of “To achieve our mission, how must we appear to our customers” (BSI, 2009, p.5). Process and Internal Operations …show more content…

CMS Energy should implement a written communication plan that will assist the executives in communicating with employees and customers of the strategic plan. The communication plan will need to identify their objective of safety for employees and citizens. The communication plan will also need to embrace the company’s vision and mission statements, goals, strategic objectives, communication audits, surveys, and the focus groups. Some of the examples for CMS Energy communication plan will include the

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Unit 4 Written Assignment Department of Management, University of the People BUS 5117-01-AY2023-T3: Strategic Decision-Making and Management Dr. Karthika P 22 February 2023 Unit 4 Written Assignment Founded in 1985 by Phil Gosling, Wellington Brewery is one of the oldest and most well-known microbreweries from Guelph, Ontario. Its competitive advantage is differentiation, offering several styles/flavors of original products with a distinctively English style, as well as a variety of options in terms of size and type of containers. We will establish a value chain for the company, identify the strongest and weakest links, prepare a SWOT (strengths, weaknesses, opportunities, and threats) analysis for the company, and then identify the key

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There is a crucial choice in choosing the strategy position between cost leadership, differentiation and focus of an organisation and the dangers of being stuck between these positions (Johnson et al., 2013). The risk of being “stuck in the middle” allows sufficient disadvantage to the organisation in interpreting no price premium, customer loyalty and cost advantage to target consumers (Angwin et al., 2011, p. 142). Porter’s Generic Strategy Matrix shows this strategy positioning more clearly (See Figure 2.1). This practice of positioning a strategy comes apparent towards ‘British Home Stores’ (BHS) department store which specified in selling clothing and household products, and where I propose to implement a strategic position of using the strategic clock to build a Differentiated Business Strategy. Figure 2.2 Strategic Clock

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The second category is that of customer satisfaction. One group of stakeholders that are critically determine the success of a company are the customers. Therefore, the company’s balanced scorecard should have means to assess the satisfaction of the customers. The first of such measurements would be comparing the number of positive feedback from the customers to that of negative feedback from the customers (Greathouse). The company ought to have a policy whereby the customers are prodded to evaluate the services they receive from the company.

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864 Words | 4 Pages

The author Aubrey Malphurs in his book Advanced Strategic Planning: A 21st Century Model for Church and Ministry Leaders, provides comprehensive yet insightful information not only for anyone who has been called into ministry, whether it be a pastor or ministry leader, but for those who believe in the vision of the ongoing mission of Jesus Christ. In his book he directs and guides those called to be leaders through the strategic planning process of strategic planning referring to leaders as navigators preparing them with the quintessential tools to leave land and with faith walk out to an ongoing awaiting sea of strategic planning. Malphurs begins by identifying the problem among many churches reflected in what he calls a “Sigmoid curve,” or

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457 Words | 2 Pages

The Summary of Performance and Financial Information Fiscal Year 2013 from the Department of Health and Human Services is an important document. It helps to understand the mission and the goals of the Department and to navigate thru the major initiatives. The secretary of the Department is Kathleen Sebelius. In the 2013 report, she did her best to go over the mission and goals of the Department.

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ACOs is consider to be groups of doctors, hospitals and insurance companies that connection together to offer a higher-quality of patient care. By improving the quality of care and making more cost-efficient health care decisions. There are ACO core standards in place to ensure that health providers receive the appropriate incentives across the board. ACO’s also have to establish a system wide approach to continuous improvement, and communication, and education to ensure that the quality of care is cost effective. ACO 's Strategic Plan ACO’s require to meet certain benchmarks for keeping patients healthy without requiring a hospital stay.

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864 Words | 4 Pages

This approach allows a company to measure performance in four key areas, which are financial, internal business process, customer, and learning and growth. Since financial performance is based on past results, a lot of companies use the balanced scorecard, which focuses on current activities. Dunlap’s immediate action was to restructure the company so it would become profitable again. This process focuses on the financial perspective of the balanced scorecard, which would allow Dunlap to look good to the shareholders. Dunlap eliminated nearly 6,000 employees and reduced SKU’s to 1,500.

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The Design for Excellence in 2020 is the path my county is on. This strategic goal was created in 2010 and 2011 when parents, families, students, community leaders, businesses, and teachers discussed the importance of where is online learning. They also conversed over the importance of science, math, technology, and engineering. With these in mind, they set 3 goals for students to be able to do by 2020. Goal 1 deals with students investing global problems through investigation, engagement, and collaboration.

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Developing a Strategic Plan: Balanced Scorecard Healthcare systems are under pressure to be responsive to the patient’s demands while congruently aiming for higher quality of care and efficiencies (Jeffs, Merkley, Richardson, Eli, & McAllister, 2011). A management technique for solving problems along with strategy transformation is the utilization of a Balanced Scorecard (BSC). The BSC aligns with activities while keeping the mission and vision statements at the forefront (Groene, Brandt, Schmidt, & Moeller, 2009; Jeffs, et al., 2011). A BSC looks at and provides organizational performance in four dimensions. The dimensions are Financial, Customer, Internal Process, and Learning & Growth (Grigoroudis, Organoudaki, Zopounidis, 2012; Groene,

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The teams processing the information for the customers for the service provided were contacted by the customers to assist them in making payments. Knowledge The knowledge about the buying criteria of the consumer and that there was greater opportunity for the differentiation strategy implemented based on the quality and the services offered for customers. Mike was also able to establish the fact that his relationship was not too smooth with the managers of the

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Balanced score Card?: WalMart Balanced Score Card?: WalMart University of Maryland University College By Robert T. Jordan Professor Smith DMBA 620 March 9, 2018 Introduction Balance score card (BSC) is a strategic tool used to enhance the performance management of a company. The BSC is very popular and it is widely used by companies and organizations throughout the world. A BSC helps companies set targets, set organizational goals, and achieve organizational goals.

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Table of Contents 1.0) Executive Summary 3 1.1) Objectives 3 1.2) Mission 3 1.3) Keys to success 3 2.0) Product and Services 4 2.1) Sourcing 5 2.2) Technology 5 3.0) Market Analysis Summary 5 3.1) Market Segmentation 6 3.2) Target Market Segment Strategy 7 3.2.1) Market Trends 7 3.2.2) Market Needs 8 3.2.4) Market growth 8 4.0)

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1024 Words | 5 Pages

Risks of implementing a Balanced Scorecard A little model developed without the collaboration of the address is unheeded, and the effort will be in vain. If the indicators are not chosen carefully, the WCC loses much of its virtues, because it conveys the message you want to

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This report will utilise the Porter 's quality chain (1985), which clarifies how the organisation is inside composed to achieve its goals. The chain further serves as a decent base for recognising organisation 's center abilities and capabilities (Hamel and Phrahald 1990), while the Balance 's Scorecard usage (Kaplan and Norton 1996) as a device, supplements Porter 's Value chain as it gives the measures and the benchmarks against which the organisation 's inward execution is measured in accordance with corporate

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The Balanced Scorecard is a theory and management approach first proposed in the Harvard Business Review by Robert S. Kaplan & David P. Norton (1995). A subsequent book, The Balanced Scorecard, was published following

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