Essay on "Strategic Plan, Part III: Balanced"
Essay 4 pages (1277 words) Sources: 4
[EXCERPT] . . . .
It is important to create a baseline of information before monitoring process. At Alpacas by the Sea, a rancher takes measurements with a defined goal of being flexible and adapting to resource conditions. For example, drought tends to affect the carrying capacity on a monthly and annual basis. Therefore, stocking rates must have the ability to fluctuate in response to the drought. This implies that liquidation of alpacas is incorporated as part of the normal business for the ranch (Jack, 2009).Production perspective
Some of the measures in the agricultural sector do not necessarily reflect the whole picture. For example, the extra inputs required by larger alpacas might not meet the desired production, which guarantee profits. In evaluating the company from this internal business perspective, the paper focuses on the technology, competencies, and skills of Alpacas by the Sea and its ability to meet the needs of customers. Alpacas by the Sea conduct successful measuring of alpaca performance by using:
I. Standardized definitions, protocols and terms, which make accurate measurements like standardized performance analysis (SPA).
II. Measurements, which can be compared to a benchmark created using similar protocols, terms, and definitions. The benchmarks are from relevant geographical areas and are updated (Calabro?, 2011).
Pounds weaned per alpaca exposed are an inclusive efficiency measurement of the genetic potential, all aspects of death loss, reproductive performance, growth rate, and pre-weaning nutrition from supplement, pasture, and milk. The percent of alpacas born or pregnancy percent of alpacas in
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the first 21 days of the calving season are useful measures of reproductive efficiency (Kaplan & Norton, 2011). The two are both leading and lagging indicators because they measure past reproductive performance during the breeding season. Body condition scores of dry pregnant alpacas are a key indicator of future reproductive performance. This is extrapolated into a projection of the gross income and total pounds weaned.download full paper ⤓
Alpacas by the Sea, has supplied quality-breeding stock to many profiles of breeders because of the diverse bloodlines they offer to a wide variety of clients. This herd depth provides a variety of pricing tiers that extend to their customer base. The result is that both small breeder and large breeder directly benefit from this expertise and the enhanced herd production (Kaplan & Norton, 2011).
Financial perspective
This perspective looks at how Alpacas by the Sea's business strategy affects the bottom line. In fact, the business requires financial success for its long-term sustainability. The company measures its corporate financial status using the shareholder value, business growth, and business profitability (Kaplan & Norton, 2011). However, discussion about alpaca ranching often covers measures of solvency, liquidity, and cash flow. While imperative, they are not the only measures of profitability for Alpacas by the Sea. The key performance of Alpacas by the Sea includes:
I. A positive rate of return on assets
II. An achievement of the intended rate of return on equity
III. Excess net ranch income
IV. Surplus operation profit margin and V. Achievement of free cash flow (Calabro?, 2011)
This scorecard offers a valuable management and measurement tool for Alpacas by the Sea as it prepares for the future growth. It enables the business to financial and non-financial goals into perspective while balancing the difference between long-term sustainability and short-term viability. As a result, the Alpacas by the Sea business will turn its vision into reality.
References
Calabro?, G. (2011). Moving from the crisis to sustainability: Emerging issues in the international context. Milano: F. Angeli.
Jack, L. (2009). Benchmarking in food and farming: Creating sustainable change. Farnham, England: Gower.
Kaplan, R.S., & Norton, D.P. (2011). The strategy-focused organization: How balanced scorecard companies thrive in the new business environment. Boston, Mass: Harvard Business School Press.
Kars, A.A. (2013). Application of the balanced scorecard… READ MORE
Quoted Instructions for "Strategic Plan, Part III: Balanced" Assignment:
“This is the 3rd week of a 5 week class and each paper i submit builds on the next - so I will send over the first two so you can see how this applies. Week 1, I was to provide a strategic planc, Part I: Conceptualizing a Business, Week 2, I had to submit the Part II of the Strategic plan and this was about the SWOTT Analysis. I selected a small alpaca livestock business that my family operates in california as the business which all three papers would align with. At this point I am team leader again next week, and very backed up so hoping you can help me at least outline the assignment in a generic way for Week 3 and then I can align it with the alpaca business details that I am so familar with. Again, I will forward the two prior assignments so you can see what I have submitted thus far. I will also send over the score card that was posted in our class for reference because its clear that I must use it, and possibly its format in my submission next week.
Thank you in advance, anything you can do to point me in the right direction will help me work through this assignment.
This is the week 3 assignment I need to work up:
Develop the strategic objectives for your business in the format of a balanced scorecard. The strategic objectives are measures of attaining your vision and mission. As you develop them consider the vision, mission, and values for your business and the outcomes of your SWOTT analysis. Consider the following four quadrants of the balanced scorecard when developing your strategic objectives:
1. Shareholder Value or Financial Perspective:
o Market share
o Revenues and costs
o Profitability
o Competitive position
2. Customer Value Perspective:
o Customer retention or turnover
o Customer satisfaction
o Customer value
3. Process or Internal Operations Perspective:
o Measure of process performance
o Productivity or productivity improvement
o Operations metrics
4. Learning and Growth (Employee) Perspective:
o Employee satisfaction
o Employee turnover or retention
o Level of organizational capability
o Nature of organizational culture or climate
o Technological innovation
Write a 1,500+/-100 word paper that contains the following:
1. Proper introduction including the nature of the business, and the reasoning behind using a balanced scorecard. Indicate explicitly what you will cover within the paper, and why.
2. Definition of what a balanced scorecard is. Definitions are found within the ebooks we will use in class. In this paragraph, also include a clear explanation about the critical thinking you did to derive the balanced scorecard objectives from the vision, mission, values, and SWOTT analysis.
3. Definition of the first section of the balanced scorecard.
4. Definition, and discussion of at least three strategic objectives for the first section of the balanced scorecard. Follow steps 3, & 4, as applicable to the second, third, and fourth categories or sections in the balanced scorecard. Be organized, logical, clear, precise, and to the point.
For each strategic objective, develop a metric, a target, and associated activities or initiatives using a balanced scorecard format. i.e. Increase market share in North America by $20M for each quarter in 2011 compared to same period of time in 2010. The metric could be number of dollars contributed by each new account opened. Test the goodness of your objectives: if you are unable to plot or monitor your objectives on an X-Y graph. The objectives need refinement.
6. A conclusion section per APA guidelines.
7. A reference section per APA guidelines.
8. A balanced scorecard table at end of the paper.
*****
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