Homework answers / question archive / BUS/475: Integrated Business Topics - Project plan Use the Project Plan Template and the business needs identified last week in your Balanced Scorecard (see attached from last week) to: Develop the project objectives

BUS/475: Integrated Business Topics - Project plan Use the Project Plan Template and the business needs identified last week in your Balanced Scorecard (see attached from last week) to: Develop the project objectives

Business

Share With

---

BUS/475: Integrated Business Topics - Project plan Use the Project Plan Template and the business needs identified last week in your Balanced Scorecard (see attached from last week) to: Develop the project objectives. Explain what operational steps will be taken to achieve your stated objectives. Identify the responsible person(s) for each?operational step. Outline a timeline for each operational step. Justify the choices you made in your project plan in a 525- to 700-word response on the Project Plan Template. Cite any sources according to APA guidelines.

Balanced Scorecard Template

Use the organization you chose in Week 1 as a resource for this assignment.

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 internal and external environmental analysis.

Scorecard Areas

Develop at least three strategic objectives for each of the four balanced scorecard areas.

Financial Objectives        Measures            Targets: Timeline/ Metrics

Increase revenue            Reduce the price of batteries by importing them from China.      To boost profit, lower costs by 45%

Increase production sales            Increase the number of manufacturing plants in order to increase the number of cars produced            Increase 40% in the first year

Enhance the level of global expansion    Increase it's presence in a greater number of nations throughout Europe and Asia.      Expand 30% in the first year

 

Customer Objectives     Measures            Targets: Timeline/ Metrics

Attract new customers  Introduce more cars in different afforadable price ranges             Increase 28% of new customers in first year

Expansion of service centers      Expand the number of service centers to better assist clients, since existing ones are regularly at overload.     In the following three years, increase the number of service centers by 60%.

Increase customer satisfaction  Instead of forcing everyone to use their app for grievances, it would be better if consumers could call in and get answers to their questions regarding delivery and the various car problems                Increase 20% in the first two years

 

Internal Business

Process Objectives          Measures            Targets: Timeline/ Metrics

Enhance the brands image          Service to consumers should feel like a five-star experience in and of itself.                Decrease time spent at service centers by 60% in first year

Improve the dependability of technological systems.      Increase spending on research and development to help solve existing technological problems and come up with top notch advancements.          Increase in improvements by 25% in first year

Improve the distinction between products          Create a method to differentiate Tesla from other luxury electric vehicle manufacturers. Increase by 15% in first year

 

Learning and Growth Objectives               Measures            Targets: Timeline/ Metrics

Advertising tactics           Gain a deeper knowledge of the market by collaborating with other businesses to gain insight into the factors that drive customer behavior.     Increase by 10% in first year

Productivity of staff members   Recruit more workers into the workspace            Increase by 5% in first year

 Value employees as much as clients so as to simply make management smoother, create a better atmosphere and help maintain a motivated and productive workforce     Express greater employee appreciation Enhance a corporate gramification system to reward employees every 6 months

 

Below, explain in 350-525 words:

•             why these objectives are appropriate for the project.

•             why these metrics and timelines are appropriate for your strategic plan.

              The proposed objectives, metrics and timelines are reasonable for fostering tesla's development. Focusing on expanding into new markets, making a profit, and providing a high-end customer service experience are Tesla's top priorities. If Tesla is serious about growing, it has to put money into establishing new factories so it can increase output and decrease delivery times for its consumers. Through this, a car might be delivered to them in as little as two weeks, rather than the typical four to six week wait. If Tesla were to outsource battery production to China, the company would increase its profits. It would be cost-effective for Tesla to get batteries and related chemicals from China, one of the world's largest manufacturers, allowing the company to reinvest the savings in further growth. Additional money for Tesla might be made if the company expanded to places like the United Kingdom and China. Considering China's rapid growth as a market, an American-made luxury electric vehicle will do very well in comparison to Nio, a Chinese manufacturer. Furthermore, while paying a premium price for a vehicle, the customer expects to get premium care when the vehicle requires maintenance or repair. Since appointments at Tesla's service centers are usually arranged a few weeks in advance, if Tesla opened additional service centers and hired more staff to work in them, appointments could be made sooner, which would considerably boost customer satisfaction. In addition to establishing a greater number of service facilities, Tesla may attract new customers by producing a wide range of vehicles that are affordable and can keep up with the competition from the other brands in electric and traditional car manufacturing.The challenge for Tesla is that it has to sell cars to the early majority of buyers if it is to ever turn a profit.Customers who purchase luxury EVs from manufacturers other than Tesla tend to be more conventional in their tastes. Although the market's early majority may have different priorities than those of Tesla's products, the company still has a chance to win over new consumers by catering to their wants and requirements. Therefore, Tesla is a very lucrative corporation with a very bright future; with more service centers and factories in the United States and overseas, more automobiles can be manufactured, more customers can be served, and there would be more money to be generated with better levels of customer satisfaction.