Intergrative Project Involving BUS499 Bsba … Essay
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Strategic Management represents a collection of managerial actions and positions that shapes a company's performance in the long run. It entails internal as well as external environmental scanning, strategy development (long-term or strategic planning), strategy execution, evaluation, and control (Wheelan and Hunger, 2008). Gluck, Walleck, and Kaufman (1982) are of the view that organizational managers endeavor more towards effectively tackling the changing global scenario through four strategic management stages. The first stage entails primary financial planning. The second stage addresses forecast-based planning, and the third comprises of externally oriented strategic planning. Cattaraugus County's ReHabilitation Center (ReHab) started making the use of Balanced Scorecard (BSC) in its process of organizational strategic planning (Martelloetal, 2011).
The Balanced Scorecard (BSC) model of Norton and Kaplan is a strategic performance tool used by managers to give a balanced view of the outcomes and the factors guiding the outcome.. The BSC is a guidance tool that helps a system to organize the strategic objectives of an organization into four outlooks. The model is operationalized through development of quantitative measures in these four outlooks; they are:
Internal Business Processes
Growth and Learning
Customer (Martello et al., 2011)
The ReHab Center of Cattaraugus County is committed to enhancing disabled persons' QOL (quality of life). It delivers all-round care to help every patient attain maximum independence. It has been engaged in strategic planning since many years. A Strategic Planning Director was appointed about 9 years ago, by the Center. Following a careful evaluation of the Center's efforts in strategic planning, the newly instituted director resolved to employ the BSC strategic tool for cascading strategic planning through the Center. The aim of employing BSC was uniting every area of the Center under its overall strategic design. Subsequently, all areas would come up with outcome measures in line with the Center's overall strategic goals. Though numerous metrics or measurements are easily discernible or available in the case of for-profit firms, they cannot be so easily obtained in the case of non-profit organizations, particularly for rehab facilities wherein the consumer population has developmental issues (Martello et al., 2011)
Gaining acceptance and involvement of all staff members in the BSC system is crucial for its successful implementation in the ReHabilitation Center. Initially, a number of employees expressed doubts about the approach, viewing it as an impetuous, one-time system which would again require them to divert precious time towards it, away from their routine tasks. The director, after some interval of time, was successful in convincing the senior-most managers that this tool would result in more efficient organizational strategic planning. The Center, then, with the aid of its entire workforce, accomplished the development of a corporate strategic plan for 2002-2005, which the organization has continually updated, on an annual basis. The ReHabilitation Center's vision, mission and values are displayed below in Exhibit 2 . An analysis of its Mission statement makes it rather clear that the Center's key focus is its customer base (Martello et al., 2011).
The ReHabilitation Center aims at becoming the leader in delivering and evaluating requisite services to disabled individuals. The Center's Vision as well as Mission must be achieved with the help of personnel in the Center, whose work culture is values-based. The Center's outlined values are: integrity, loyalty, positivity, respect, learning, and result-oriented attitude (Martello et al., 2011).
The ReHabilitation Center accords equal importance to both financial and customer perspectives.
THE FOUR PERSPECTIVES
With regard to the customer perspective, the Center's intention is enhancing consumer QOL in two areas. Firstly, it strives to provide customer satisfaction, by bridging the chasm of unmet needs; bettering customer access to required services; aiming at improved support of families of disability-affected individuals; and, increased service delivery in natural settings. Secondly, the ReHab Center strives for improving QOL of its customer base by according them as much independence as possible. This is achieved by providing them with opportunities for participation in their respective community; aiding them with the development and sustenance of relationships; formulating personalized plans through the aid of customer input; enhancing customer opportunities to exercise alternative options; and, offering work opportunities to them (Martello et al., 2011)
The ReHab Center has endeavored to acquire new sources of revenue; acquire new incomes; increase discretionary financing; and maximize prior financing. It has also endeavored to attain breakeven level, in terms of its operations, with use of all available finances, while providing for effective resource utilization. In order to facilitate the achievement of its financial and customer objectives, a number of goals have been developed by the Center from the operational viewpoint. The Center, in order to facilitate its customer services targets, has endeavored to improve and strengthen bonds with customers and families of customers by increasing public awareness of the services they can avail of at the Center; ensuring Center workforce accessibility; and by increasing accessibility of services to those suffering from developmental disabilities (Martello et al., 2011).
Cattaraugus County's ReHab Center has endeavored to deliver operational excellence through the development of an extensive information system; ensuring timely customer service; instituting measures and evaluating outcome-related data for constant improvement of its services; fostering a safe, secure milieu for its workforce, customers, and visitors; and, coming up to, and surpassing, regulatory requirements. It has also endeavored to recognize and put into effect new opportunities for services for disabled individuals, in a bid to expand organizational revenues. Finally, through the creation of a positive company image, in addition to active participation in community activities, it ensures that it will generate long-run benefits critical for achievement of its objectives. The ReHab Center understands that it requires a workforce, environment and a technology that facilitates achievement of its operational aims (Martello et al., 2011).
The Center devotes three quarters of its operational budget towards staff remuneration and benefits, indicating that it realizes the significance of creating an inspired, content, and prepared workforce. It has endeavored to improve staff competencies; devise programs for recognizing employee efforts; offer its employees opportunities for personal growth within their workplace; and, hire, orientate, develop, manage, and retain personnel. Towards accomplishing its aims, the Center also needs to increasingly employ technology for supporting onsite services as well as developing information systems. It has attempted at enriching company culture by improving communication and strategic alignment across the Center, in addition to endorsing and applying company values (Martello et al., 2011).
The strategic aims for the Center's four perspectives have been outlined across exhibits 4A to 4E. The exhibits also cover individual strategic goals' key measurements and indicators. These provide specific outcomes, which are required for strategic plan implementation, to the Center. The scorecards connect the overall long-term strategies to all areas of the ReHab Center. Therefore, all the organization's sub-units get linked to its strategic plan (Martello et al., 2011).
The ReHab Center, in applying the BSC tool, has equally focused on the financial and customer perspectives. The basis for this equal attention is the Center's necessity to perform its main mission for customers (i.e., developmentally disabled persons), and maintain its financial stability. The focus on both perspectives is crucial to the Center for catering to its customers in an effective and efficient manner (Martello et al., 2011).
Though the application of the BSC approach in the Center's long-term planning process is new, the company's management team has approved it. The challenge ahead is continuance of the process of developing measures of outcome for separate organizational departments, and tying these measures to its strategic goals. The Center is aware of the fact that this process is very challenging as it is not easy to measure real outcomes. Outcome measure formulation constitutes a constant developmental process. The Center feels that this will undoubtedly improve long-run organizational effectiveness and efficiency (Martello et al., 2011).
SLP (3 Pages)
The largest beverage manufacturer in the world, the Coca-Cola Company (NYSE: KO) refreshes its customers with over 500 sparkling brands. The organization, along with its bottling partners, commits itself to its 2020 Vision, which is a strategy to increase system revenues two fold in this decade, and concentrate on five major areas, namely, profit, portfolio, people, planet and partners. Its brand portfolio is the strongest among non-alcoholic beverage makers; the Company now features 20 brands, which generate a yearly retail sales amounting to 1 billion dollars (Sheets, 2010).
The Coca Cola Company's mission is long-term. The mission statement declares its intent as an organization, while serving as a yardstick against which the company evaluates its decisions and actions.
To invigorate the planet.
To stimulate moments of happiness and optimism.
To make a difference by creating value (Sheets, 2010).
This plays the role of a framework for Coca-Cola's Roadmap, driving all elements of its business by outlining what requires to be done by the company for continuing to attain sustainable, quality progress.
People: The Company strives to provide a great work setting wherein its people (employees) feel motivated to put their best… [END OF PREVIEW]
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