Individual Learning Project 1
Individual Learning Project 1
Deon Flatt
Business 601
April 5, 2014
Liberty University
Linda Leatherbury
Brief Description Work-study Enterprise (WSE), founded in 1994 in Matteson, Illinois offers childcare and early childhood education. WSE believes in developing the whole child and strives to show God’s love to all entering its doors. WSE enrollment is open to kid’s age 2 through 15 and offers a safe and positive environment for all. In addition, the organization offers before and after school programs, to include summer camps. A for-profit organization, WSE seeks to keep enrollment high in order to make child care cost affordable for all in the Chicago land area (Mitchell & Mitchell, Work-study Enterprise, April 4, 2013).
SWOT Analysis
Balanced Scorecard According to Blocher (2010), the balanced scorecard (BSC) is an accounting report that includes the firm’s critical success factors in four areas: (1) financial performance, (2) customer satisfaction, (3) internal processes, and (4) learning and growth (p.11). The following is a balanced scorecard for Work-study Enterprise Inc.
Critical Success Factor
Objective
Measure
Target
Initiative
Financial performance
Increase Income
Annual growth of income from specific courses
+5% by end of fiscal year 20141
Offer more specific topics of tutoring (algebra, statistics, etc.)
Reduce overhead expenses
Annual Expenses
-10% by end of fiscal year 20142
Explore tax benefits, give philanthropic contributions, and apply for government subsidies
Customer satisfaction
Retain Current Enrollees
Enrollee turnover
-10% by end of fiscal year 20143
Improve communication between staff and parents
Enroll New Clientele
Clientele enrollment count
25 additional contracts by end of fiscal year 20144
Improve marketing campaigns and courses offered to attract new clients
Internal Process
Increase GPA
Number of grading periods to raise letter grade
Deon Flatt
Business 601
April 5, 2014
Liberty University
Linda Leatherbury
Brief Description Work-study Enterprise (WSE), founded in 1994 in Matteson, Illinois offers childcare and early childhood education. WSE believes in developing the whole child and strives to show God’s love to all entering its doors. WSE enrollment is open to kid’s age 2 through 15 and offers a safe and positive environment for all. In addition, the organization offers before and after school programs, to include summer camps. A for-profit organization, WSE seeks to keep enrollment high in order to make child care cost affordable for all in the Chicago land area (Mitchell & Mitchell, Work-study Enterprise, April 4, 2013).
SWOT Analysis
Balanced Scorecard According to Blocher (2010), the balanced scorecard (BSC) is an accounting report that includes the firm’s critical success factors in four areas: (1) financial performance, (2) customer satisfaction, (3) internal processes, and (4) learning and growth (p.11). The following is a balanced scorecard for Work-study Enterprise Inc.
Critical Success Factor
Objective
Measure
Target
Initiative
Financial performance
Increase Income
Annual growth of income from specific courses
+5% by end of fiscal year 20141
Offer more specific topics of tutoring (algebra, statistics, etc.)
Reduce overhead expenses
Annual Expenses
-10% by end of fiscal year 20142
Explore tax benefits, give philanthropic contributions, and apply for government subsidies
Customer satisfaction
Retain Current Enrollees
Enrollee turnover
-10% by end of fiscal year 20143
Improve communication between staff and parents
Enroll New Clientele
Clientele enrollment count
25 additional contracts by end of fiscal year 20144
Improve marketing campaigns and courses offered to attract new clients
Internal Process
Increase GPA
Number of grading periods to raise letter grade