Answer & Explanation:The new product or service I am writing about is a JC Penney lounge for the spouses or boyfriends of women. Write a 700- to 1,050-word section for your business model and strategic plan in which you add your strategies and tactics to implement and realize your objectives, measures, and targets.Include marketing and information technology strategies and tactics.Develop at least three methods to monitor and control your proposed strategic plan, being sure to analyze how the measures will advance organizational goals financially and operationally.Determine the best possible options for evaluating the strategic plan. Explain the ethical issues faced by the organization, summarize the legal and regulatory issues faced by the organization, and then summarize the organization’s corporate social responsibility.Include in this section the possible implications of the triple bottom line (people, planet, profit) on the strategic plan and its implementation.Write a 350-word executive summary defining the new division of existing business. Share your Vision, Mission, final business model, and value proposition, and list your key assumptions, risks, and change management issues. Quantify the growth and profit opportunity and planned impact on various stakeholders.
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Running head: BALANCED SCORECARD AND COMMUNICATION PLAN
Balanced Scorecard and Communication Plan
Name
Institution
1
BALANCED SCORECARD AND COMMUNICATION PLAN
2
Balanced Scorecard and Communication Plan
The following are strategic objectives for JCPenney Lounge, a new division of JCPenney
that will design and manage customer lounge at all the company’s retail stores. The strategy of
establishing a lounge is in line with the company’s operations goal of providing customers with
the most memorable shopping experience that is available in the world. JCPenney recognizes
that a large portion of its clientele is women shoppers who want high-quality products at
affordable cost in a relaxed environment. JCPenney Lounge is a response to that expectation and
will provide an environment with the right ambiance to ensure customer loyalty.
The strategic objective of JC Penney Lounge as a unit of the retail store is to act as a
business enabler through its positive contribution to brand image and sales generation. This
objective aligns with the corporate growth objective of the company and according to Kaplan &
Norton (2007) is key to the present and future performance of the company. The balanced
scorecard, an important strategic measurement tool will be utilized in the collection, analysis and
dissemination of information about the performance of JCPenney Lounge in critical areas. These
areas, which are important metrics for determining the potentials of any business, will include
financial/shareholder value, customer perspective, internal operations and processes, and
learning growth perspective (Rohm & Montgomery, 2011). As explained earlier, performance
data from these four areas will be used to monitor the lounge’s progress towards the achievement
of its objectives. Information from a previous SWOT analysis will be included in the defining the
metrics used for measuring the performance of the unit. The communication plan will define the
type and means of internal and external communication within the unit, the organization and
with customers. Information about work shifts, service needs, products and any other relevant
information considered important to the unit will be disseminated using meetings, emails, phone
BALANCED SCORECARD AND COMMUNICATION PLAN
3
calls, internal memos. Discussions about performance related issues will be discussed during the
bi-weekly meetings except for time sensitive and critical ones.
Strategic Objectives using Balance Scorecard
Financial Perspective
The main goal of any business unit is to generate revenue that will yield a profit. Revenue
growth, profits, and consistent cash flow are the three financial objectives that JCPenney can use
to support its success. The decision to set these three objectives is based on the identified
strengths and opportunities during SWOT analysis and issues related to business financing. An
approach that can be used to measure performance in this area of the business is to determine
market share. Our three-year plan is to increase the company’s market share by at least 4 percent
in the first year of our operations, 7 percent in the second year and 10 percent by our third year
of operations. It is our strong belief that the conservative performance target is realistic and
achievable due to the fact the unit is new and will require time for set up and acceptance. It is
projected that the increase in market share will result in an annual revenue growth of 10 percent,
12 percent and 20 percent in year one, two and three respectively.
Profitability is important for any business to remain viable both in the short and long
term. In our case, we plan to achieve our profit target by maintaining continuous delivery of
exceptional customer experience through ideas and innovations that are consistent with trends in
the fashion industry. Cash flow as a measurement of business performance will be determined by
our ability to meet short-term obligations such operating expenses, payment of employee wages
and general business development. This will be measured by the use of cash flow statements that
shows our cash receivables through sales and cash outflow through expenditure.
BALANCED SCORECARD AND COMMUNICATION PLAN
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Customer Value Perspective
Customer satisfaction is the main purpose of establishing this unit. Delivering an
exceptional customer experience will enable the company to maintain its market share,
profitability and growth objective (Murby & Gould, 2005). Customer satisfaction is one of the
means will use to measure performance in these areas of the business. Our performance target for
customer satisfaction is 95 percent of our customers must be satisfied. The reason for the 5
percent difference is the realization that 100 percent customer satisfaction is unrealistic and
unachievable because there are customers that cannot be satisfied regardless of a company’s
product and service offerings. This metric of customer value will be measured through feedback
from customer satisfaction surveys and a number of returned products. The JCPenney loyalty
program that offers discount vouchers on subsequent purchases after the initial order will be used
to measure customer loyalty through repeat purchases and redemption of discount vouchers. The
number of loyal customers is a strength that the company can use as a leverage to attract new
customers through referral and family and friends reward program.
Internal Operations or Process Perspective
The internal processes at JCPenney such as corporate culture, work ethics, and human
resource management systems are created to support a stable and sustainable business model.
Our plan is to impact on these systems that have played an important part in our growth since the
inception of this company, to maximize the experience of customers that visit any of our stores.
Specifically, the diverse nature of employee profile in terms of culture and language will help us
satisfy the needs of our customers regardless of their cultural background. Employee training and
development programs will be used to educate our employees on trends regarding consumer taste
BALANCED SCORECARD AND COMMUNICATION PLAN
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and receives feedbacks and ideas from the employees can help improve the quality of experience
that we give the customer.
Learning and Growth Perspective
One of the key assets of an organization is its workforce. All other processes and
resources are dependent on the human component to deliver the kind of performance that they
are designed for. This statement is what shaped our employee value. Our employee value is
equal to that of the customer because we believe that without a team of motivate and inspired
employees, our aim of delivering the ultimate customer experience at our stores will be
practically impossible. Employee satisfaction metrics will be measured through satisfaction
surveys and questionnaires, as well as during formal and informal meetings. Employee turnover
affects business continuity negatively and slows growth. Our objective to mitigate the risk of this
phenomenon is to use the result of employee satisfaction survey to implement programs that
encourage collaboration and cooperation in all aspect of work through information sharing and
accountability from management. This metrics will be measured through the hiring process to
determine the quality of talents and reduction in employee turnover.
Communication Plan
Communication within and outside the new division is essential especially in the initial
period of its operations. A communication plan will help provide information about performance
data, new ideas, issues, and risk related to our business and projections to determine progress
towards healthy financial performance. The means of communication will be email, print
materials, and telephone calls to all stakeholders to inform them about issues related to their
interests.
BALANCED SCORECARD AND COMMUNICATION PLAN
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References
Kaplan, R. S., & Norton, D. P. (2007). Using the Balanced Scorecard as a Strategic Management
System. Harvard Business Review, 85(7/8), 150.
Murby, L., & Gould, S. (2005). Effective Performance Management with the Balanced
Scorecard. CIMA.
Rohm, H., & Montgomery, D. (2011). Link Sustainability to Corporate Strategy Using the
Balanced Scorecard. Retrieved from http://www.
balancedscorecard.org/Portals/0/PDF/LinkingSustainabilitytoCorporateStrategyUsingthe
BalancedScorecard. pdf.
Running head: CAREER CONNECTION
1
Career Connection
Bertha Hernandez
BUS/475
July 12, 2016
Charles Freeman
CAREER CONNECTION
2
Career Connection
JCPenney is a retail store with a mission statement of not only trying to sell the
merchandise but sell the experience (JCPenney.com, 2015, para 6). “everyday matters”
(JCPenney.com, 2015, para 1). Its focus is on its associates and the community and how to make
the shopping experience more memorable. Both the mission and vision statement coincide with
each other to try and accomplish its daily goals as a department store and how it operates. Both
statements affect this student in a positive manner, and it helps to open my mind to more than
what I see in front of me. There is more to JCPenney than just trying to make a sale; because a
sale can be made today and lose a customer but if it provides an experience for its customer than
it will have earned the loyalty of a client.
JCPenney is not only about trying to sell products; of course, this is the way they make
their profit, but its primary focus is about trying to provide the customer a good experience they
will not forget. By providing the shoppers with what they need and also with an associate that
cares about they are shopping for, then that customer will want to continue to shop at JCPenney.
This is how JCPenney sees its reason for existing to provide that priceless shopping experience
for the community.
The vision statement for JCPenney is seeing the company become successful within its
customers and having those long time customers. If the department store can train its associates
to be courteous, patient, and respectful, then it can provide a memorable experience that will
bring the customer back to that store. By working as a team, the store will be able to hold on to
its valuable customers while making more on a daily basis.
CAREER CONNECTION
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The mission and vision statement play a significant role in how the department operates
because this is the foundation of its daily goals. On a regular basis, it is always stated that
associates must continue to make “friends,” by welcoming the customer, offering them in finding
what they need, respect their time, thank them, and helping them to get their penny’s worth.
Associates are trained as far as what to ask the customer, but most associates are not trained on
how to react to those shoppers that have an attitude or get upset for whatever reason. So the
company is trying to abide by their statements, but some of their actions are not following the
statements.
The way the company is and how it is trying to follow their statements is different then
what I see myself as an employee. I see that what it is failing at is where I am, as an employee,
supposed pick up and be guided by those statements. If I am unsure of how to handle a customer
who is unhappy, then this student should ask the supervisor for support to better herself and also
so she may pass that onto the other employees. If this department store did not have a mission or
vision statement, then this student believes it would be nonexistent today.
In conclusion, JCPenney has both a mission and vision statement where the customer
experience is the key to success. On a daily basis, it tries to push towards those ideas, for the
most part, they have the training, but they need to work more with their associates. Although, the
department store may not be completely thorough in training associates, that does not mean that
other associates should not take the initiative to pick up the missing pieces.
CAREER CONNECTION
4
References
JCPenney.com (2015). Retrieved from http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irolnewsArticle&ID=962357&highli..
Running head: NEW SERVICE FOR JCPENNEY
New Service for JCPenney
Bertha Hernandez
BUS/475
July 12, 2016
Charles Freeman
1
NEW SERVICE FOR JCPENNEY
2
New Service for JCPenney
In 1902, a man by the name of James Cash Penney founded a department store that would
meet the needs of the customer. JCPenney customers are usually woman shoppers who shop with
their husbands or boyfriends that do not want to spend hours in the store. Creating a small lounge
area for the husbands or boyfriends to spend their time enjoying themselves would allow the
shoppers a more relaxing time in the store. JCPenney values its customers and wants them to
keep coming back to their store. The central vision for JCPenney regarding its clients is to make
their trip worth their while and allow them to get the best at a good price (JCPenney.com, 2015,
para 1). Creating a small area for the non-shoppers to spend their time will provide more of a
compassionate retail store.
Creating a small area for a lounge in each JCPenney store will allow, more often than
any, the husbands and boyfriends to relax while the wives or girlfriends shop with more ease.
The lounge would be just like a what most people spend their time at night going out to. For
example, a cigar lounge would have the seats or couches, drinks, and maybe TV’s. Of course, the
lounge in JCPenney would only have the couches, TV’s, and small bartender to be able to provide
(if purchased), one drink minimum. This would allow the husbands or boyfriends to be more
tolerant of going shopping with their wives or girlfriends. The shoppers themselves would feel
more at ease knowing they do not need to rush and allow them to be more relaxed. The shoppers
would be able to try on their clothes and not feel as if they have to get the first item they try on,
just to please their better half. This lounge area would provide JCPenney with a great advantage
towards other retailers because not only are they looking out for their shoppers but they are also
NEW SERVICE FOR JCPENNEY
3
thinking about the people that are with them. JCPenney wants to give that shopper a great
experience and to do that; they have to provide an environment they feel their own.
JCPenney’s corporate operations goal is to provide the client the best shopping experience
they can give to them and make their time and money worth their trip. With the new lounge area,
JCPenney’s focus will be to allow the shopper to be more comfortable than what they are now.
Most of JCPenney’s shoppers are the woman and with that said, the store needs to provide a kind
of ambiance where the shopper is so comfortable they do not want to leave. For example, when a
woman goes to get a massage, it is not just the massage the reason they go to receive it; it has to
do with the moment they step into the massage parlor. The employees make sure their voice is
not too loud or annoying; the client is sent to a waiting area where they are provided a cup of
water, tea, or coffee. In the room, there is soft music playing and a waterfall is close by so they
can hear the relaxing sound of the water. This is what JCPenney needs to focus on, how else to
make the client more relaxed and wanting to stay and shop. Woman shoppers are known to take
their time looking for clothes and having their better half standing around waiting for them to
make-up their minds. With the lounge area in place, this would provide the husbands or
boyfriends an area to relax in and maybe even carry a conversation with others. There would be
TV’s in the lounge, giving them access to the sports channels. Each customer would also have an
opportunity to purchase a drink while they waited. Organizing a lounge area for the shoppers’
boyfriends and husbands will provide JCPenney with more returning customers because not only
are the shoppers being treated with kindness but their better halves are being pampered while
they wait for the shopper to finish their shopping.
Because JCPenney’s focus is on its shoppers and making sure that they receive the
greatest shopping experience, it helps to set a path towards the company’s strategic direction. The
NEW SERVICE FOR JCPENNEY
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way the company is trying to move and keep moving is making as much money as it can for its
shareholders and ensuring their shareholders worth. By making profits gainfully, this allows the
shareholders of JCPenney to keep getting good returns. Keeping the customer happy and also
providing their husbands or boyfriends with a great experience while they wait, will give
JCPenney that profitable gain in its sales. This allows the customer to have more time to shop
and a more relaxed atmosphere. Customers that are not rushed while shopping will continue to
find great products to purchase. JCPenney already has great deals and excessive coupons so that
the customer may get their money’s worth; by providing them with a relaxing shopping
experience, they will spend more. Giving the company what it needs to follow in its planned
course.
JCPenney remains devoted to constructing on its heritage of an accountable company by
moving forward in the community, having environmental and moral values in all its procedures.
The department store goes above and beyond being generous to ensure the store operates in a
mindful manner, demand is met in all products, and that employees are trained to provide great
customer service. JCPenney stores always have all of their stock on the floor to ensure the
customer has a variety to choose from. Daily operations are always about how the store can make
the shopping experience for the client better. Employees are instructed to go above and beyond
their way to take care of the customer. When a customer comes into the store employees are
instructed to always greet the customer, ask them what they can help them find, be mindful of
their time, thank them for shopping at their store, and help them to save as much money as they
can.
Creating a lounge area for JCPenney will allow customers to shop free of distractions and
in a relaxed atmosphere.
NEW SERVICE FOR JCPENNEY
5
References
JCPenney.com (2015). Retrieved from http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irolnewsArticle&ID=962357&highli..
Running head: PEER REVIEW ANALYSIS
Peer Review Analysis
Team Bertha
BUS/475
August 2, 2016
Charles Freeman
1
PEER REVIEW ANALYSIS
2
Peer Review Analysis
In week two of Integrated Business Topics, each of the students wrote a Strategic Plan
Paper introducing a new product or service. Starting week three, Team Bertha will evaluate all of
the team member’s papers; one each week and submit a review analysis. This week the team is
reviewing Justyna’s paper. Team Bertha will evaluate her article, consolidate the views, and
write a 350-word analysis to the instructor.
Justyna’s article clearly states a proposal of a new product within the McDonald’s
franchise. The new organic menu is focused on customer needs. It is an innovative idea that will
help the McDonald’s company to be more modern and come out of complacency. Her paper
states the new mission and values of the division which is in line with McDonald’s current
mission and statement. Justyna’s did an exceptional job at hitting all the major points for the
paper and it was within the word count. Her paper was formatted by the APA guidelines.
PEER REVIEW ANALYSIS
3
References
Parks, J. (July 19, 2016). Strategic Plan Part 1: New Product or Service. Retrieved from
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