Task: Develop two strategic objectives for each of the four quadrants of the Balanced Scorecard:
Question 1. Shareholder Value or Financial Perspective, includes strategic objectives in areas such as:
- Market share
- Revenues and costs
- Profitability
- Competitive position
Question 2. Customer Value Perspective, includes strategic objectives in areas such as:
- Customer retention or turnover
- Customer satisfaction
- Customer value
Question 3. Process or Internal Operations Perspective, includes strategic objectives in areas such as:
- Measure of process performance
- Productivity or productivity improvement
- Operations metrics
Question 4. Learning and Growth (Employee) Perspective, includes strategic objectives in areas such as:
- Employee satisfaction
- Employee turnover or retention
- Level of organization capability
- Nature of organization culture or climate
- Technological innovation
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 "Increase in 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 in Market share" could be to "Increase market share by 2% for each of the next three years" or an increase of 2% per year for 3 years.)
Explain how you derived your objectives.