Discussion question Think about your favorite household product, such as laundry detergent, floor cleaner, or bathroom tissue. When you run out of this product, do you replace it with the same product, a similar one, or something different, and what criteria do you consider when you replenish your supply?
Consider this scenario: The organization that produces your favorite product has worked hard to consider its competitors, their products or services, and to try to ensure you choose their product over their competitors every time.
This competitive analysis process allows the organization to adjust its goals and strategies to reflect what’s happening in the marketplace, adjust their approach, and, hopefully, maintain competitive advantage.
Select an organization in which you work, have worked, or that you are familiar with, and respond to the following:
- What organization did you choose and what are the products or services they provide?
- What do you think are the strengths and weaknesses of the industry your selected organization is in?
- Who are the organization’s 3 main competitors and what are the substitute products or services they provide?A
Assignment (uploaded) This week's assignment introduces the Balanced Scorecard, a framework for strategic planning and performance management. You will provide a brief overview of your chosen organization and develop specific, measurable objectives for each of the four Balanced Scorecard perspectives: Financial, Customer, Internal Business Process, and Learning & Growth. This assignment is designed to help you apply foundational strategic concepts.
Assignment Preparation
Select an organization to use for this week’s assignment and next week’s Summative Assessment. You may use the organization selected in Week 1 but are not required to do so.
Assignment Deliverable
Complete the Balanced Scorecard template.
This assignment will be referenced in the Wk 4 Summative Assessment.
Submit your assignment.
Assignment Support
- Read the resources available through the University Library for more information on balanced scorecards.
- Review the following resources for writing guidelines and APA information:
- Center for Writing Excellence
- Reference and Citation Generator
- Grammar Assistance