Business Model and Strategic Plan Essay Example for Free

Business Model and Strategic Plan Essay fling caprice mechanics is the new military weapon division of The Renco Group Inc. It is a promising addition that is designed to take its parent high society to brandmark new heights in prestige and financial stability. In previous drafts, we outlined what advertise Idea Mechanics could do for its shareholders, now it is time to break down how it compares to the vision and the strategic goals of The Renco Group Inc.Balanced Scorecard and Communication PlanThe balanced scorecard is a strategic think and management system that is employ signifi throw outtly in parentage and industry, government, and nonprofit disposals worldwide to line up business activities to the vision and strategy of the organization, break internal and external communications, and observe organization performance against strategic goals. It is A set of four measures directly linked to a comp eithers growth (Pearce Robinson, 2009, p. 202). Here is a pictur e of how salary increase Idea Mechanics matches up with The Renco Group Inc. vision and strategy.Financial Perspective Shareholders ValueThe Balanced Scorecard or dashboard is a tool that gives managers and executives a balanced view of what the company is doing on the business side and how they are performing within the scope to the vision and strategy of the organization. The master(prenominal) responsibility of the company is to increase net revenue and achieve financial constancy while providing the best product and service at a intelligent price, on condition that customer satisfaction is met. To appraise the financial constancy of an organization, it is essential to compute the operating cost, growth income and return on interest and capital, and meshwork per share. By utilizing efficientprocesses we will be able to reduce expenses by lowering costs, improving on-stream time, and growing revenues. derive Idea Mechanics new assign of the art platform and processes will s urely please The Remco Group Inc. as well as their shareholders of their financial viability.client Value PerspectiveIf a business customer is satisfied, then a business knows that it is successful. Delivering uniformity in the price and superiority in your product helps to give the company an edge, over the competition, in the market, separating the companys product by brand name or a particular image. This is how each company attracts the consumers, and builds hopefully, a long-term business relationship with the customer. Advance Idea Mechanics is doing that with the government by giving them the most advance products on the military stage. They not only sell a unique product, exclusively they also provide a service, that no matter what their device encounters, Advance Idea Mechanics will provide a solution.Since our products will be in war torn areas it is important to know that safety of the mint who use our product will be one of our main objectives. Advance Idea Mechanics w ants to make sure that our clients leave their vehicles the same way they got in their vehicles. Advance Idea Mechanics will do on-going surveys to see what we can do to improve on the safety, care, comfort, and reliability of all the products we make. at that place will be a team operating twenty four hours a day to address any concerns that our clients might have. At Advance Idea Mechanics customer satisfaction is number one.Internal Business ProcessWhen it comes to customer satisfaction strategic planning is a must. It is used to raise customers and to present new products and to improving business capabilities. It is critical that we describe what our strategy is and use this to increase market share. By soul our position, the company will be able to have the power it needs to evaluate its performance and line up with the vision and mission statement of the corporation. There will be internal audits of the goals and performance of the company, conducted daily, to monitor the b alance scorecard to make any adjustments needed to have a flawless process, always safekeeping the concern ofthe client at important. The Renco Group Inc. and its subsidiary, Advance Idea Mechanics, understand that the United States is a larger and powerful client and the earning potentials from this alliance can be huge. This is wherefore it is important that we look at every metric to ensure that we are doing everything we can to satisfy the government and stay loyal to our mission and vision. study and Growth PerspectiveThe final piece of the Balance Scorecard is the learning and growth process. It is here that the vision aligns flawlessly with the companys so that it can gain an aggressive upper hand and position in the marketplace. It focuses on the expansion and success of the business, and it focuses on the interior and exterior public, their thoughts and actions. The Renco Group Inc. and Advance Idea Mechanics use the Balance Scorecard as a tool to help the company to maint ain its standing and also promote technological improvements. Advance Idea Mechanics will be a division that lives in the world of technological development and without it it will be just another company.This is why one of the main changes that this perspective brings is an emphasis on employee training, to make ready for action employees, which will constantly improve their knowledge base and make them an sound part of our new vision. The second word in Advance Idea Mechanics is idea and we hope we can pull some of our inspiration from the people who work within the company. With a new division, fresh ideas, and a plan for internal employee training, The Remco Group Inc and Advance Idea Mechanics see no former why we will not have great employee retention and a spirited workforce.ConclusionAdvance Idea Mechanics is a new dream, still it is predicated on an idea that got its start from The Remco Group Inc. founding business. By using the Balance Scorecard and using the Communicati on Plan we know that we can impose strategic plan that will adhere to the principles outlined by the companys vision and mission statements. It will take all four perspectives Financial, Customer Perspective, Internal Business Process and Learning and Growth to move the company to the next level, but with monitoring and adjustments, shareholders will reap the benefits when the day is done.ReferencesPearce II, J. A., Robinson, R. B. (2009). Strategic way Formulation, Implementation and Control (11th ed.). New York, NY McGraw-Hill. The Renco Group Inc.. (2014). 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