BUS 475 Week 4 Individual Assignment 2
Business Model and Strategic Plan Part III
Shawn Good
BUS/475
October 27, 2014
Fredric Hibbler
Introduction
The balance scorecard is another tool that goes along the same lines as the strength, weakness, opportunity, threat, and trend or commonly known as SWOTT. The information in this document will cover the basic aspects of the balance scorecard. The balance scorecard method will cover four main areas or quadrants and those are: shareholder value or financial perspective, customer value perspective, process or internal operations perspective, and learning and growth of the employee perspective. These four main areas or quadrants will help explain how Samsung’s new division, Customers Research and Development will be adopted into the Samsung business portfolio.
Four Areas 1. Financial Perspective: Samsung’s new division, Customers Research and Development will initially have no upfront financial consideration with Samsung supporting the new division. 1a. The division will start to focus on how to grow their own financial support t hat is separate from Samsung’s overall financial budget. This will assist both the division and Samsung as a whole by having its own cash flow. This could also assist in providing customers that submit ideas with a financial award for their ideas that are initially taken on by Samsung. 1b. While the focus will be on how the division can become financially on its own with help still from Samsung. The division will need to focus on how to boost the profit margin for Samsung and how the customer’s ideas will help benefit the boost in profit. 1c. The new division for Samsung will have an objective of increasing the company’s profit margin by 10% for the upcoming fiscal year. 2. Customer Perspective: Without the customer base to support Samsung’s new division, the division will fail. This will be the long-term goal of keeping customer ideas flowing into the division so that division
Shawn Good
BUS/475
October 27, 2014
Fredric Hibbler
Introduction
The balance scorecard is another tool that goes along the same lines as the strength, weakness, opportunity, threat, and trend or commonly known as SWOTT. The information in this document will cover the basic aspects of the balance scorecard. The balance scorecard method will cover four main areas or quadrants and those are: shareholder value or financial perspective, customer value perspective, process or internal operations perspective, and learning and growth of the employee perspective. These four main areas or quadrants will help explain how Samsung’s new division, Customers Research and Development will be adopted into the Samsung business portfolio.
Four Areas 1. Financial Perspective: Samsung’s new division, Customers Research and Development will initially have no upfront financial consideration with Samsung supporting the new division. 1a. The division will start to focus on how to grow their own financial support t hat is separate from Samsung’s overall financial budget. This will assist both the division and Samsung as a whole by having its own cash flow. This could also assist in providing customers that submit ideas with a financial award for their ideas that are initially taken on by Samsung. 1b. While the focus will be on how the division can become financially on its own with help still from Samsung. The division will need to focus on how to boost the profit margin for Samsung and how the customer’s ideas will help benefit the boost in profit. 1c. The new division for Samsung will have an objective of increasing the company’s profit margin by 10% for the upcoming fiscal year. 2. Customer Perspective: Without the customer base to support Samsung’s new division, the division will fail. This will be the long-term goal of keeping customer ideas flowing into the division so that division
References: Samsung. (2014). Samsung. Retrieved from http://www.samsung.com/us/aboutsamsung/