Newspaper balanced scorecard

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 RUNNING HEADER: HOOSIER 1 Internal and External Environmental Analysis Devyn Kwiatkowski 4-8-2019 RUNNING HEADER: HOOSIER 2 Introduction The individual assignment for the current week focuses on the external an internal environment of a business. However, as a student, I have learned to analyze the effects of both the internal and external environment that is linked to business operations. In the current scenario, I operate on behalf of a consulting company whose primary objective is to assist different forms of business to improve their operations strategically. The company was recently hired by Hoosier Media Inc which is a newspaper company. The subscription and circulation of the clients’ newspaper ended up declining thereby soring the revenues to a low of 30% in five years. The revenues from the online ads on the other hand increased, but at the moment, they contribute to about 5% of the business income which is not enough for the company to sustain itself. I have been given a task to provide a comprehensive analysis of the internal and external operations of the business. The step will enable me to apply whatever I have covered in class for the last two weeks. Criticize how the company adapts to changes. Change is good for the going concern of any business operation, especially when the financial health of the business is deteriorating. Adapting to change to enable the company to stay on top in the financial performance is not an easy task. The board of management in Hoosier Inc needs to revisit its mission and vision statement to improve on the performance of the firm. Hoosier team Inc. management recognizes the company’s potential and success of its online advertisement services. The administration also needs to develop a relationship with the customers and even improve on the online presence before it conducts a SWOT analysis and do an evaluation of the competitors based on both the economic and environmental concerns (Ginter, Duncan & Swayne, 2018) RUNNING HEADER: HOOSIER 3 Highlight the economic, legal and regulatory forces. Economic trends Three factors are linked to the decline of income which includes regulatory elements, legal forces, and the ongoing market trends. Creativity is therefore needed when it comes to drawing of a map to ensure that the firm maps out a success objective for going concern. Hoosier Inc should, therefore, analyze the economic changes between the internet ads and alterations within the paper. The company should examine its leadership structure to stay on top with the current dynamic economic trends. Regulatory and legal forces Hoosier needs also to reconsider regulatory and legal factors that are behind the changes and move forward. According to the media regulations, the amendments in the United States constitution highlights that it is illegal to deny one freedom of speech or that of having a press conference. In the United States, freedom has certain restrictions like especially when using defamatory statements. The usage of internet has become a trend since more and more people are gaining access to the platform making them have access to any data and information on the platform. The company needs to consider becoming part of the online trend through becoming part of the system upgrade on its website, being part of the participants in the social media platforms and also having an application that will enable the users to access from any location.