University of PhoenixJuly 13, 2009The mission, vision, and value are what make up a company. The mission explains what the company is about and what they stand for. The vision explains what the company is and will be and the values are what the employees live by. The values help shape the company. The score card looked in to different areas of the business and was evaluated using Simple Pleasures' mission, vision, values and SWOTT analysis. In this paper the areas covered are: financial, customer value, internal process, and the learning and growth. These four areas are broken down into columns titled: objectives, measures, targets, and initiatives. All of these areas make up a balanced scorecard.
FinancialThe financial section of the scorecard covers the revenue, becoming competitive in the market, and the market research budget. These are very important parts of finance in Simple Pleasures.
RevenueThe objective of revenue would be to break even in the first year.
Many new businesses fail in the first year so if Simple Pleasures can break even that would be a great success. Increased profits in next years would be the next goals for this company. According to the U.S. census in 2007 there were 8,065 new businesses born in Idaho and there were 6995 business deaths that year (N.A., 2009). Many of those were the same businesses turning over.
The measures would be to offer services and products at a low enough rate to still break even. This helps with becoming competitive with other businesses as well. Clients want to feel like they are getting a great deal for a great service. Most of the time the saying "You get what you pay for" is true, but Simple Pleasures want to be the exception to that saying. They want to offer low prices...