Your Business Part 1

1. Formulate an operations strategy for your business. For FemmeNaturale, which is a business that makes blunt hair care products for curly haired individuals, only a candid operations strategy would be necessary. This is a booming flip with a lot of different companies emerging each quarter, completely boasting effective products; however from experience, many of the products dont provide the effect that is claimed. Per Robert S. Kaplan, the implementation of the balanced placard (BSC), which retains monetary metrics, only when supplements them with metrics on the gilds performance with customers, processes, and people and culture. The batting order answers the question, Are we creating current and future value for our shareholders and customers? (October 2008, pg. 80) The scorecard is meaning(a) beca remove it captures not only what was happening with physical and financial assets, provided the organizations intangible assets as well. (October 2008, pg. 80) the scorecard addresses how to describe, communicate and implement your strategy. Without crafty what strategy to subroutine, how to use it, or how to communicate it to those directly intricate in the implementation, it would be nearly impossible to get my community off the ground. This also involves the execution of activity-based costing.

According to Kaplan, I could use ABC for operational planning: By having it forecast the levels of visual modality capacity--employees, equipment, space, technology--you need to supply in order to deliver on the revenue targets in your strategic plan. This is a powerful uninflected tool that eliminates almost a! ll of the guesswork, subjectivity and negotiations normally associated with the resource planning or budgeting process. (October 2008, pg. 80) ABC captures the physical and financial assets only, but when employed in conjunction with balanced scorecard, they will some(prenominal) bring forth a comparable and complete financial forecast of expenses. 2. condone how your operations strategy impacts...If you want to get a dear essay, order it on our website: OrderCustomPaper.com

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