Business Model and Strategic Plan Part Iii - Balanced Scorecard and Communications

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Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan Rhonda Arnold BUS/475 July 13, 2015 Juan Salazar Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan The following paper outlines the balanced scorecard plan and the communications plan for the new division, Workforce Management, of Towers Watson. The communication plan covers the channels of communication, the tone of communication and specifically who will be delivering the communication across the entire organization. The balanced scorecard covers the key strategic objectives from a financial perspective, customer value perspective, process and internal operations perspective and from the employee perspective. This will ensure that all employees of the new division are completely in line with the corporate strategy and what the new division is aiming to achieve. Strategic Objectives from a Financial Perspective The key objectives that the organization is trying to achieve financially, is to ensure that the company increases the profitability of the organization and specifically of this division. The first way to ensure that we meet this objective is to increase our market share by leveraging the customer base within Towers Watson. We plan to increase our overall market share by 15% in the first year. From a revenue perspective, in the first year the plan is to increase revenues by 3%, the second year we plan to see an increase of 5%, followed by the third year at 7%. These are conservative figures but we aim not only to achieve these revenue targets but exceed these targets. The company plans to improve the margins on the existing products by 2% in the first year, 4% in the second and 6% in the third year. From a competitive perspective we plan to be ranked as one of the top three companies in workforce management solutions. The

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