SWLA Real Estate - Balanced Scorecard
SWLA Real Estate – Balanced Scorecard
How does an organization translate a business plan into an action plan? Everything looks good on paper; a vision, mission statement, values, objectives, and a SWOTT analysis outline what an organization wants to do. Now all that needs to be done is to put the plans to action. Several strategies exist for implementing a business plan aimed at achieving the organizations vision. The balanced scorecard is one approach that many organizations find beneficial. The objectives listed in the balanced score card are derived from the organizations mission, vision, and results of the SWOTT analysis (Pearce and Robinson, 2005).
South West Louisiana (SWLA) Real Estate is working towards the development of a business plan that will assist the organization in achieving its goals and objectives. SWLA Real Estate has gone through the process of defining the business, creating a vision, mission statement, and listed values and principles important to the organization. The next step in the process is to develop an action plan that is consistent with these concepts and derived from the results of the SWOTT analysis. A balanced scorecard approach to implementing the business plan is an effective means of putting plans to action. The quadrants of the balanced scorecard require realistic objectives that can be quantified and set against accurate targets.
Financial Perspective
SWLA Real Estate has considered market share, revenues, and profitability based on current industry information to formulate a measurable action plan aligned with the organizations concept thus far.
Market Share Using current market share information, SWLA Real estate has set goals for attaining a portion of the market share for operational years one, five, 10. The current market analysis (Table 1.1) shows the standings for the current real estate service providers in the area. (Table 1.1)
Market Share
Office Nbr Volume Pct%
American 1 Realty (21) 17
How does an organization translate a business plan into an action plan? Everything looks good on paper; a vision, mission statement, values, objectives, and a SWOTT analysis outline what an organization wants to do. Now all that needs to be done is to put the plans to action. Several strategies exist for implementing a business plan aimed at achieving the organizations vision. The balanced scorecard is one approach that many organizations find beneficial. The objectives listed in the balanced score card are derived from the organizations mission, vision, and results of the SWOTT analysis (Pearce and Robinson, 2005).
South West Louisiana (SWLA) Real Estate is working towards the development of a business plan that will assist the organization in achieving its goals and objectives. SWLA Real Estate has gone through the process of defining the business, creating a vision, mission statement, and listed values and principles important to the organization. The next step in the process is to develop an action plan that is consistent with these concepts and derived from the results of the SWOTT analysis. A balanced scorecard approach to implementing the business plan is an effective means of putting plans to action. The quadrants of the balanced scorecard require realistic objectives that can be quantified and set against accurate targets.
Financial Perspective
SWLA Real Estate has considered market share, revenues, and profitability based on current industry information to formulate a measurable action plan aligned with the organizations concept thus far.
Market Share Using current market share information, SWLA Real estate has set goals for attaining a portion of the market share for operational years one, five, 10. The current market analysis (Table 1.1) shows the standings for the current real estate service providers in the area. (Table 1.1)
Market Share
Office Nbr Volume Pct%
American 1 Realty (21) 17
References: eofficeDirect.com. (2008). Office equipment and supplies. Retrived October 17, 2008 from, https://www.eofficedirect.com. FBS Data Systems. (2008). FlexMLS Market share report. Retrieved October 14, 2008 from, http://www.flexmls.com/. U.S. Small Business Administation. (2008). Finance start-up. Retrived October 17, 2008 from, Pearce, J. and Robinson, R. (2005). Strategic Managament (9th. Ed.).