Using the presented scenario, please answer the question in bold. Using Wendy\'s
ID: 379102 • Letter: U
Question
Using the presented scenario, please answer the question in bold. Using Wendy's restaurant as the chosen company. Thanks you!
Presented Scenario: An overseas contractor that is a major supplier to Wendy's Restaurant has recently been revealed as one that operates with poor working conditions for employees (uses child labor, pays low wages, requires long hours, no benefits, etc.).
Examples of each type of corporate communication:
a) Informational Example: When a new product is launched, the public will know nothing about it. Consider the situation when Apple launched the iPad, a totally new class of technology. In order to generate interest, the company first had to tell people about the product.
b) Educational Example: Once the target audience is aware of the new product, they often need to be educated as to why the product could be useful to them.
c) Persuasive Example: Once a new product has become successful, it is highly likely competitors will have entered the market. Communication therefore needs to persuade the target audience to purchase the version that the corporation provides rather than a competitor’s version.
For the assignment, the following critical elements must be addressed:
III. Internal Communication: a) Explain the type of internal communication and the purpose for the internal communication that you have chosen (i.e., informational, educational, and/or persuasive). Detail your process for selecting the type of communication that will address the scenario. Provide justification as to why the chosen strategy is appropriate for the scenario.
Explanation / Answer
Balanced Scorecard:
A balance score card is a strategy execution tool that, at the most basic level, helps companies to:
Clarify strategy - articulate and communicate their business priorities and objectives
Monitor progress - measure to what extent the priorities and strategic objectives are being delivered
Define and manage action plans - ensure activities and initiatives are in place to deliver the priorities and strategic objectives.
It reflects organisation perspective: The balanced scorecard allows managers to look at the business from four important perspectives. (See the exhibit “The Balanced Scorecard Links Performance Measures.”) It provides answers to four basic questions:
How do customers see us? (customer perspective)
What must we excel at? (internal perspective)
Can we continue to improve and create value? (innovation and learning perspective)
How do we look to shareholders? (financial perspective)
While giving senior managers information from four different perspectives, the balanced scorecard minimizes information overload by limiting the number of measures used. Companies rarely suffer from having too few measures. More commonly, they keep adding new measures whenever an employee or a consultant makes a worthwhile suggestion. One manager described the proliferation of new measures at his company as its “kill another tree program.” The balanced scorecard forces managers to focus on the handful of measures that are most critical.
Several companies have already adopted the balanced scorecard. Their early experiences using the scorecard have demonstrated that it meets several managerial needs. First, the scorecard brings together, in a single management report, many of the seemingly disparate elements of a company’s competitive agenda: becoming customer oriented, shortening response time, improving quality, emphasizing teamwork, reducing new product launch times, and managing for the long term.
Example :
Saudi Telecommunication company
BSC in STC: adoption towards strategic planning 3.1 Financial perspective Financial perspective defines strategic objectives and financial performance measures that provide evidence of whether or not the company’s financial strategy is yielding increased profitability and decreased costs. STC depends on a number of financial measures such as net profit, sales growth, and sales revenues. STC involves the financial perspective in its BSC in order to help in strategic planning .: Financial perspective including STC, the role in strategic planning Objectives Measures Role in strategic planning • To secure the financial security for the STC portfolio. • To ensure the growth of profits. • Net income • EBITDA • Sales revenues • ARPU The company’s growth and profitability should be included in formulating the enduring programs that aim to transform its operations from government system to commercial business standards in the international markets. 3.2 Customer Perspective This perspective identifies the intended outcomes from delivering a differentiated value proposition, for example, market share in customer segments and customer profitability. STC has conducted intensive market study and research for the improvement of business strategies in giving full satisfaction to its existing clients and target markets. STC involves the customer perspective in its BSC in order to help in strategic planning as shown in .Customer perspective including STC, the role in strategic planning Objectives Measures Role in strategic planning To increase the satisfaction for the existing customers and attract new customers particularly in countries like India and Indonesia • Market survey in Saudi Arabia and other countries. • Market share especially in the new market outside Saudi Arabia. • Customer satisfaction rating. Diversification program is one of the most significant programs that should be included in the STC’s strategic planning process. The objective is putting the diversified telecommunicatio
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