OLM 570 HSA 1 – Strategic Management and Finance

Scenario Assignment 1
Choose one of the following scenario questions and develop a response.  Your response must be supported with references to the assigned literature for the course.
Each response should be completed from a strategic and financial management standpoint.
Scenario Question 1
At the annual strategic planning retreat, you have been tasked to identify processes and objectives related to building the organization\’s non-financial performance measures, such as customer satisfaction, customer retention, time to market, market presence, etc. As a company seeks to increase its future earnings through a stronger value proposition, they are counting on you to create appropriate timelines and objectives, as well as addressing conflicting objectives and other challenges. What do you report out as your plan for moving forward during the retreat?

OLM 570 HSA 1 – Strategic Management and Finance
reading
Warren, K. (2008). Strategic Management Dynamics. Wiley: West Sussex, England
 
Harvard Business Review Press, Eds. (2011). Guide to Finance Basics of Managers. Boston: Harvard Business Review Press.
Bolman, L., & Deal, T. (2008).  Reframing Organizations:  Artistry, Choice, and Leadership (4th ed.).  New York:  John Wiley & Sons. 

SAMPLE SOLUTION

Measuring the financial and non-financial activities of business processes has become a fundamental requirement since organizations are challenged to attain efficient and effective results. Applying relevant performance measures and models to this need ensure alignment with business objectives and strategies, which shows that the choice of key performance indicators is organization-dependent (Bolman & Deal, 2017). To set proper timeline and objectives for building the organization’s non-financial performance, I would first assess current satisfaction and future demands of the customer in addition to identifying strategic and financial issues to address. The reason for doing this is to determine the company’s…