In a 10- to 20-slide presentation with speaker notes

Title ABC/123 Version X

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Balanced Scorecard Template BUS/475 Version 9

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Balanced Scorecard Template

Note: Hoosier Media is to be used as a resource for this Week 3 assignment as a carryover from Week 2.

Background

Strategic objectives are a measure of attaining your vision and mission. They reflect the vision, mission, and values of the business, as well as the outcomes of the intenral and external environmental analysis.

Scorecard Areas

Develop at least three strategic objectives for each of the four balanced scorecard areas.

Financial Objectives	Measures	Targets
To increase revenue from advertizing, newspaper promotions, and social media news	Revenue will be measured using sales volume	To increase sales volume by 20 percent in the next five years
To increase the company’s profitability from the provision news and feature stories	The main methods of measuring profitability that the company seekls to employ will include: return on equity and return on investment. This is the amount of net income returned as a percentage of shareholder equity.	To increase the net profit margin by ten percent in the next five years.
The long-term strategic financial goal and objective of Hoosier is to reduce operational costs that result in inefficiencies in its daily activities.	Reduce newspaper distribution costs Reduce print media production costs Reduce bradcast media costs	Hoosier targets a 20 percent reduction in operational costs in the next five years

Customers Objectives	Measures	Targets
The company seeks to increase customer satisfaction	The organization will emasure the degree of customer satuisfaction by using five-point Likert scales. Ina ddition, thye company will also utilize the American Customer Satisfaction Index, which ranks satisfaction from 0, which is lowest, to 100, which is considered hexcellent (Morgan, 2017).	The company targets 80 percent rating based on the scales proposed by the American Customer Satisfaciton Index
Another significant element of the organizaiton’s strategic objective will include improving the overall company feel.	This will be assessed based on the manen r in which Hoosier treats employees well and that they support the world that they are in. Clients are often aware of the manner in which organizations treat their clients. This becomes an indicator of how they perceive the firm.	Reducing carbon footprint, engaging in Corporate Social Responsibility activities, and motivational programs
Improve customer experience	Customer experience will be assessed by embracing innovations that are aimed at making the activities of customer easier. Technology plays a major role in improving customer experience and promoting positive customer image.	The company plans to develop and improve its cellular applications that support customer experience through queries, and access to services.

Internal Business Process Objectives	Measures	Targets
The organization is focusing on innovative activities to improve operational efficiency.	Creativity and innovation is critical in maintaining loyal customers and users.	The organization will improve its newspaper front page and design, as well as creativity in story development and newswriting
Going global- the company plans to expand its markets beyond the local national boundaries to include areas sucha as Asia-Pacific, Middle East, Europe, Africa, and Latin America	The company will expand its market by one international region every year	Its target goal for the next five years is to have an operational base in four continents
The firm seeks to improve talent and promote employee development and retention	These efforts will be done by introducing training program, employee coaching, as well as mentoring initiatives.	The firm will introduce employee recruitment and seelciton process that will focus both onm experience and talent.

Learning and Growth Objectives	Measures	Targets
The firm’s first learning and growth perspective will focus on improving its value chain	The company will attract users through its social media news platform and webpages	The value chain will be reliant on support from executives,administration, and human resource department
To improve intellectual and professional capacity of employees	Employee opinion survey will be utilized as an effectrive tool for evlaauting the degree of satisfaction of workers, concerns, and interests.	The target of this program is to promote a creative and innovative culture in the organization.
The company plans to engage in diversification	Diversificaiton through acquisition and product line expansions will be explored to expand markets	The company will seek top reduce risks related to possible law suits

Reflection

Assess, in no more than 350 words, trends, assumptions, and risks of Hoosier Media, Inc.’s business model after completing the strategic objectives for each area.

Based on the above assessment, Hoosier is a media house company that operates in an environment that is comprised of other rivals that exert considerable competition. Sources of competition include economic, political, and social. The environment also offers key resources for Hoosier that support sustainable competitive advantage. As a media house firm, Hoosier is in the business of offering news services and avertizign space and airtime to its prospective and current clients. The main media channels through which the organziaiton provides these services include print media (newspapers and magazines), electronic media (radio and television), as well as the digital media (social emdia and company website). The media industry under which Hoosier operates has witnessed exponential growth and development of the number of media houses, including viewership and listenership. As such, Hoosier has to employ competitive strategies that are critical in competing with other rivals in the industry. One of the main competitive strategies employed by Hoosier is low cost leadership. In this respect, seeking to be the industry’s overall low cost provider is a critical competitive approach in markets that have many price sensitive buyers. Consequently the organization attempts to achieve cost eladerhsip by becoming the industry’s lowest cost providers as opposed to merelty being one of the various rivals with comparatively low costs. Hoosier also seeks to attain its overall organziaitnal goals through differentiation. This effort attempts to make the company distinct in ways that are valuable to its wide rane of consumers. Based on these standards, there are several differentiation strategies that the company seeks to employ. For instance, Hoosier offers news and program contents that are unique to its different client groups. In doing so, it sets itself apart from its rival, thus attaining a sustauinable competitive advantage.

Reference Morgan, B. (2017). American Customer Satisfaction Index With Managing Director David VanAmburg. Forbes.

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Copyright © 2018 by University of Phoenix. All rights reserved.