Please no plagiarism and follow instructions for each partPart oneI will upload the attachment that you will need for this part and also uploaded an extra file name internal and external environmental analysis that may help complete this part only Develop three strategic objectives for each of the four balanced scorecard areas using the Balanced Scorecard Template. Part 2 Read these instructions for this part because its different topic then part one Read these instruction for this part and the days that I volunteer for this journal entry would be March 25,27 and 29 the name of the company is Mary wings and thingsFor each day that you volunteer, create a new journal entry in which the first line is the day, date, and time period that you worked that day. Please put this information in bold font. Write a paragraph that describes the type of duties you carried out that day (what you did, who else was there, whether you were a part of a team or were working alone, etc.). Once each week, focus on one particular event or aspect of your work that week and describe why you found this particular task or event to be unusual or of special interest. In a 250-300-word entry, relate this aspect of your volunteer experience to some specific knowledge that you have previously gained in your coursework to this point.APA format is not required, but solid academic writing is expected.I will upload an attachment so that you can see how my previous journal entries looked
my_journal_entry.docx
balanced_scorecare_template.doc
the_internal_and_external_environmental_analysis.docx
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My Journal Entry
Mykel Waldon
Dr. J Novotny
March 24, 2019
Day
1st
Date
3/18/19
Time period
08:00-12:00
2nd
3/19/19
10:00-14:00
3rd
3/21/19
12:00-17:00
I was welcomed and a brief orientation was done.
The branch manager primarily did this, in which
he took me through several things and explained
on the culture of the organization.
I was able to join the customer service team help
them do their daily duties. Here I was helped by
the customer service team to understand how
duties are curried on, and how they handle issue
that may arise in their department, was happy to
work as team.
I visited the kitchen where food was prepared, and
I was able to learn some of the techniques of food
preparation. This was the interesting part since I
had to dress like a real chef in the production
department. Here I was helped by the chefs to
understand the various procedures that are
involved in the preparation of numerous meals and
was able to taste. I had to work with other
members due to lack of experience.
While in the restaurant, I was able to offer customer services like welcoming them, serving
them, and providing them with the primary hospitality that they were in need of. I was also able
to work with the production team and learned on how some of the foods are prepared. These
were some of the duties that I was able to complete through the help of the other staff and we
worked as a tem to achieve this since I was new in the industry it was necessary for other staff
members to work closely to me. The teamwork that was in the restaurant motivated me, in the
sense that, it is easy to cope with the team and work together as if we have been used to each
other.
Their major and area of practice deals with first food, they serve customers food that is ready
that is prepared with highly trained personnel. During the visit, I was able to complete some
duties that I was assigned through the help of the staff members, like preparing plain wings; I
managed this as a team since we worked together with other employees. On the other hand, I had
a chance to interact with customers and had their views on the restaurant, of course which were
positive.
An event that I was much interested in is how they carried on their activities and the unity
they had, working together, that draw much of my attention and admired the teamwork that I
witnessed.
Balanced Scorecard Template
BUS/475 Version 9
University of Phoenix Material
Balanced Scorecard Template
Note: Hoosier Media is to be used as a resource for this Week 3 assignment as a carryover from Week 2.
Background
Strategic objectives are a measure of attaining your vision and mission. They reflect the vision, mission,
and values of the business, as well as the outcomes of the intenral and external environmental analysis.
Scorecard Areas
Develop at least three strategic objectives for each of the four balanced scorecard areas.
Financial Objectives
Measures
Targets
Customers Objectives
Measures
Targets
Internal Business Process
Objectives
Measures
Targets
Copyright © 2018 by University of Phoenix. All rights reserved.
1
Balanced Scorecard Template
BUS/475 Version 9
Learning and Growth
Objectives
Measures
Targets
Reflection
Assess, in no more than 350 words, trends, assumptions, and risks of Hoosier Media, Inc.’s business
model after completing the strategic objectives for each area.
Copyright © 2018 by University of Phoenix. All rights reserved.
2
The internal and External Environmental Analysis
Renata Redden
BUS 475
Ramzy Noel
March 25,2019
Many different forces can lead to a decline in organization total turnovers. For instance,
there are economic and legal forces that might lead to a decline in the organization revenues.
Marketing settings consists of various exterior forces that directly or indirectly affect an
organization’s acquirement of inputs and the generation of outputs. The forces include legal,
political, regulatory, economic, sociocultural, and technological forces.
The paper is going to discuss three forces that affect Hoosier Media Inc. due to the
decline of their revenues. The three are legal, regulatory, and economic forces.
To start with, the economic condition of a company contributes to the company’s
activities and decisions. If the economy of a company fluctuates in a general pattern, which is a
business cycle, that consists of four stages, that is the prosperity stage, recession, depression and
the recovery stage. The financial holdings and the consumer’s goods and services make up the
purchasing power. This means that the financial sources of buying power are credit, income, and
wealth. After tax, the income used for spending is disposable; this is after one has purchased the
basic needs. Another factor that may hinder the customers from buying includes the level of
satisfaction of the good or service, the price of the product, the size of the family and the general
economic conditions.
On the other hand, there are the legal and regulatory forces on the marketing environment
in some way they are related. The legal and regulatory forces determine the kind of laws and
regulations that affect certain marketers and how they are enacted, and on the other hand, how
much the government purchases and from which kind of supplier. However, it can also be and
help different companies to secure foreign markets (Yardeni, 2018).
There have been changes in the economic trend; therefore, the company should come up
with different criteria that will help them fit in the changing economy. For instance, the company
should be able to welcome failure. The company should be able to differentiate between
welcoming failure and accepting it. The way that a company is able to let failure in to their
business is by acknowledging the current state that exists within the company and see this as a
way to show that it’s a greater achievements that is on the way for the company. You may notice
that some companies claim that failure could be a part of their culture, but you can sometimes
see otherwise. A company should also be able to evaluate itself concerning the new changes that
may occur. For instance, it should be able to answer the following three questions, is the concept
of change energizing people? Are the new ideas accepted? Are there incentives for testing the
new products and services?
A company should add the feedback loops by having consistent communication with the
employees to help ensure that one is on the right track. This helps to makes sure the company
process focused within the company.
The internal organization considerations include the culture of the organization, the
financial resources, the internal trends, and forces considerations.
For instance, for an organizational strategic plan, there must be an establishment by the
organizational leaders. This means for the leaders to make a strategic plan they must have the
buy-in from the other workforce. This is because if the staff members are not excited with the
implementation of a plan, the work quality will drop eventually, as the workers will grow
apathetic to the goals of the organization. Another consideration is financial resources for the
plan put aside. A company will have a hard time in the execution of any strategic plan without
the financial resources for the execution. This means, before leaders develop a strategy, they
should also investigate the total cost that will be involved. Lastly are the considerations of the
internal trends and forces, which are directly affected by the external forces that the company
goes through. For instance, using SWOT analysis, the company can be able to know what their
competitors are doing better than they are.
For an organization to have a well-developed and suitable strategic plan, the external
considerations are crucial, since the plan covers all the aspects of the organization. The external
aspects include the technology, competitors, customers, labor market and the supplier market.
This is mostly the kind of things outside the organization that affects the organization’s strategic
plan (Steiss, 2019).
The economic trend is a major issue for MW Photography. The weather and seasons
determine when one can schedule shoots. The weather is extremely unpredictable; it can change
from one hour to the other and ruin a shoot just as fast. Another issue with on location shoots is
one does not own the space, and there are many distractions especially for children. It is always a
good idea to have several alternate ideas in case the location is engaged (Bell, Bryman & Harley,
2018).
References
Bell, E., Bryman, A., & Harley, B. (2018). Business research methods. Oxford university press.
Steiss, A. W. (2019). Strategic management for public and nonprofit organizations. Routledge.
Yardeni, E. (2018). The Economic Consequences of the Peace. In Peace, Prosperity, and Politics
(pp. 91-109). Routledge.
…
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