Mod 4 SLP - Strategy Mapping & The Learning and Growth Perspective

INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE 2

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REVIEW: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE

SESSION LONG PROJECT

STUDENT, TRIDENT UNIVERSITY INTERNATIONAL

INTEGRATIVE PROJECT: BSC FLEXIBILITY & THE CUSTOMER PERSPECTIVE 1

PRINCIPLES OF ACCOUNTING: MANAGERIAL ACCOUNTING-BUDGETING PAGE 1

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Abstract

For Module 2, consider your organization's mission and strategy from the perspective of its potential, prospective, and present customers. In this section of the assignment you’ll begin to identify objectives and measures relevant to that perspective. Refer back to the presentation Objectives, Measures, Targets & Action Plans if you need to.

Once you’re reasonably clear on what’s involved, think about your organization and its customers/clients/users/service recipients/whatever-you-wish-to-call-them, and then:

• Identify at least three objectives for the organization's customer service perspective and show how they relate to the mission, vision, and strategy of the organization.

• For each objective, develop at least one meaningful performance measure (metric).

• For each objective, identify at least one expected level of performance (target).

• For each objective, identify at least one new action or program that needs to be developed to ensure successful implementation of the organization's strategy (initiative).

• Comment briefly on the relationships of the customer service objectives that you've identified here to the financial objectives that you identified in the Module 1 SLP assignment. How do they help to fulfill those objectives? If they don't (and they don't have to), what makes them more important than objectives that would relate to finances?

• Finally, do you wish to make any changes to your Module 1 objective write-up in light of your Module 2 experience?

Nike Organization

Every organization should have objectives in their business plan so as to have something to gear them towards success. The objectives should be understood by the organization’s executives and also the employees. This will be of great advantage because everybody in the organization will work hard to attain the targets.

The first target of the organization is to increase the number of customers by 20% in the first financial year. This calculation of the increase will be done by subtracting the average number of customers in the previous financial year from the average number of customers in current financial year. Divide the difference with the average number of customers in the previous financial year and then multiplying by one hundred. The strategy to increase the number of customers is by increasing the type of products produced by Nike. This will attract the customers due to the variety which will not be experienced in the other organizations of the competitors. Most customers get attracted by businesses which have varieties because they have different products they can choose from. (Adner, 2006) This strategy will help Nike organization to beat its competitors and also increase the number of customers.

The other objective of the organization is to produce quality products for the customers. This is among the things which attract customers to a given business. The quality of products produced by Nike can be measured in percentage. This can be done by measuring the durability of the products produced earlier and that of the goods produced in the current financial year. The strategy of fulfilling this objective is by bringing in qualified specialists who can research on the requirements for production of products of a higher quality, and the raw materials needed. (Treacy, & Wiersema, 1997) This strategy will help in increasing the number of customers, and hence assisting in fulfilling the financial objectives like increasing the total revenue of the organization.

The other objective of the organization is to organize annual athletic competition which will see the organization teach the customers on the importance of being athletic, and how to use the Nike products to do this. This objective will mostly be geared to attract customers and also to nature young talent. This step will lead to people gaining the knowledge about Nike products, and this will entice them to buy goods from Nike shops. This step will increase the number of customers and also increase the annual revenue of the organization. This objective will help in achieving the mission and vision of the organization because many people will participate in athletics.

Most of these objectives lead to an increase in the number of customers in the organization. This will help in achieving the financial objectives because an increase in customers leads to an increase in the number of sales. Increase in the number of sales leads to an increase in total revenue; and this is one of the financial objectives of the organization. (Treacy, & Wiersema, 1997)

These customer objectives will also help in reducing the cost of revenue. For example, organizing annual athletic competitions will lead to many people knowing about the products of Nike, and this will be enough advertisement, therefore they will save the money they would have used in advertising their products in the media. Therefore, consumer objectives are highly related to the financial objectives because the consumers are the ones who mostly help in fulfilling the financial objectives in any organization. (Adner, 2006)

References

Treacy, M., & Wiersema, F., (1997), The discipline of market leaders: Choose your customers,

narrow your focus, dominate your market, Basic Books

Adner, R., (2006), Match your innovation strategy to your innovation ecosystem, Harvard

business review, 84(4), 98