Mark & Spencer Essay Example | Topics and Well Written Essays - 2250 words

Mark & Spencer - Essay Example In this respect, firstly the current objectives and strategy of the organization has been identified and based on which the future objectives and the ways in which they can be measured are prepared. While preparing this, the four perspectives of balanced scorecard has been taken into consideration. The objective mainly concentrates on gaining profitability in the business, increasing customer satisfaction and base, increasing the employee satisfaction and retention and finally creating values for the stakeholders. In order to achieve these objectives, the strategic map has been developed and recommendations have been made to the board of directors. Balanced scorecard has been proved to be the most efficient way in designing strategies, through which the organizational objectives can be achieved. At the same time this organizational objectives will be conveyed to the departmental level. The management can also use this in reviewing the strategies and making changes to them. Table of C ontents Executive Summary 2 1. Introduction 4 2. The vision and strategy 4 3. Balanced Score Card 6 3.1 Financial perspective 7 3.1.1 Objectives 8 3.1.2 Measures 9 3.2 Customer Perspective 9 3.2.1 Objectives 9 3.2.2 Measures 10 3.3 Internal business Perspectives 10 3.3.1 Objectives 11 3.3.2 Measures 11 3.4 Learning and Growth perspective 11 3.4.1 Objectives 11 3.4.2 Measures 12 4. Strategy Map 12 5. Recommendations 13 6. Use of Balanced Scorecards 14 Reference list 16 1. Introduction Balanced scorecard can be defined as the set of measures that has been selected carefully and derived from the strategy of the organization. The measures that are selected under the balanced scorecard are the tools via which the leaders can communicate with the external stakeholders and the employees regarding the performance and the outcome drivers through which the organization will succeed in achieving the strategic objectives and mission. In simple terms, balanced scorecard is a useful tool for thre e things like a strategic management system, a management system and a communication tool (Niven, 2011). Over 129 years, Marks and Spencer (M&S) has developed from a single market stall to a multi-channel retailer. The organization is now operating in more than 50 territories with over 82,000 people (Marks and Spencer plc, 2013a). The organization is true to the foundation values and offers the customers, products that are relevant to their choice and preferences. They aim to deliver excellent shopping experience to the customers. This study focus on using balanced scorecard for developing a strategic map for the organization. 2. The vision and strategy The vision of M&S is to expand their international presence and develop into a multi-channel retailer, so that they are accessible to a large number of customers present all around the world. In order to achieve this vision, the company has adopted a large number of activities and has been making good progress over the time. The stra tegies that they follow are discussed below: In order to increase their focus on the business of United Kingdom (UK), they have initiated activities like trusted food, perfectly edited, Cheshire Oak and concept of new home. Trusts are the most important aspect that is given importance by the customers while choosing a brand. The customers turn towards M&S because of their responsibly sourced and high quality food. In order to

Smoking Cessation for Young Adults Assignment Example | Topics and Well Written Essays - 750 words

Smoking Cessation for Young Adults - Assignment Example An evaluation design has to be designed which will assess the success of the smoking cessation campaign. Due to the fact that getting a control group was an uphill task to obtain as well as the high costs associated with the campaign, the focus remained squarely in the British Columbia province (Campbell &Stanley, 1966). Interrupted time series design with a single group (simple time series) will be inevitable as a design of choice. This design of the evaluation provides a better platform for addressing the issues emanating from the main objective of the campaign. This evaluation design carries with it features not limited to several variations of interrupted time series, observation time series and the ability to implement the independent time variable in a repeated manner. The evaluation must come before an altogether evaluation of both variables in the end. This helps in determining their interaction. As a practical example, the cessation campaign calls for this features when it splits the year-long period into three segments. There is the first segment that began in March and ended in April, a second one that began in July and ended in August and finally the October to November segment (Roscoe& John, 1969). The interrupted time series design will be implemented in a more than one independent variable varied one after another due to the breaks between them over the one year period of the cessation campaign. For instance, the effects of the media coverage on the radio and television and the newspapers as far as this campaign is concerned are expected to be varying on the smokers. However, this will be captured by the above choice of the evaluation design. The evaluator will be in a better position to drop the elements with no effect or adjust the campaign program as well.