Business Model and Strategic Plan Essay

hike cerebration chemical mechanism is the new multitude weapon di heap of The Renco host Inc. It is a promising addition that is intentional to take its parent corporation to brand new heights in prestige and financial stability. In previous drafts, we outlined what Advance Idea Mechanics could do for its shareholders, now it is time to analyze how it compares to the vision and the strategical goals of The Renco separate Inc.Balanced Scorecard and Communication PlanThe balanced bill is a strategic planning and management system that is used signifi hobotly in care and industry, government, and nonprofit fundamental laws worldwide to line up credit line activities to the vision and strategy of the organization, make better internal and external communications, and observe organization action against strategic goals. It is A set of four mea sures directly link to a comp some(prenominal)s offset (Pearce & Robinson, 2009, p. 202). Here is a simulacrum of how Advance I dea Mechanics matches up with The Renco Group Inc. vision and strategy. financial Perspective Shareholders ValueThe Balanced Scorecard or dashboard is a tool that gives managers and executives a balanced view of what the company is doing on the seam side and how they are performing deep down the backcloth to the vision and strategy of the organization. The main responsibility of the company is to increase take in revenue and achieve financial constancy while providing the best produce and service at a reasonable determine, on condition that client cheer is met. To appraise the financial constancy of an organization, it is essential to compute the in operation(p) cost, growth income and return on interest and capital, and earnings per share. By utilizing streamlinedprocesses we will be able to reduce expenses by lowering costs, meliorate on-stream time, and growing revenues. Advance Idea Mechanics new state of the subterfuge platform and processes will surely please The R emco Group Inc. as fountainhead as their shareholders of their financial viability.Customer Value PerspectiveIf a business customer is satisfied, then a business knows that it is successful. Delivering uniformity in the price and superiority in your product helps to give the company an edge, over the competition, in the market, separating the companys product by brand name or a particular image. This is how each company attracts the consumers, and builds forecastfully, a long-term business relationship with the customer. Advance Idea Mechanics is doing that with the government by full-grown them the most advance products on the military stage. They not only snitch a unique product, nevertheless they also get out a service, that no matter what their device encounters, Advance Idea Mechanics will provide a solution.Since our products will be in war torn areas it is weighty to know that safety of the people who use our product will be one of our main objectives. Advance Idea Mec hanics wants to make sure that our clients leave their vehicles the same way they got in their vehicles. Advance Idea Mechanics will do on-going surveys to see what we rouse do to improve on the safety, care, comfort, and reliability of exclusively the products we make. There will be a police squad operating twenty four hours a day to address any concerns that our clients might fork out. At Advance Idea Mechanics customer satisfaction is number one.Internal Business ProcessWhen it comes to customer satisfaction strategic planning is a must. It is used to raise customers and to present new products and to astir(p) business capabilities. It is critical that we describe what our strategy is and use this to increase market share. By understanding our position, the company will be able to get hold of the power it needs to evaluate its performance and line up with the vision and mission statement of the corporation. There will be internal audits of the goals and performance of the c ompany, conducted daily, to monitor the balance scorecard to make any adjustments needed to have a flawless process, always keeping the concern ofthe client at master(prenominal). The Renco Group Inc. and its subsidiary, Advance Idea Mechanics, understand that the United States is a bigger and powerful client and the earning potentials from this alliance raft be huge. This is wherefore it is important that we look at every metric to ensure that we are doing everything we can to satisfy the government and stay loyal to our mission and vision.Learning and gain PerspectiveThe final piece of the Balance Scorecard is the learning and growth process. It is here that the vision aligns flawlessly with the companys so that it can gain an aggressive upper hand and position in the marketplace. It focuses on the expansion and success of the business, and it focuses on the interior and exterior public, their thoughts and actions. The Renco Group Inc. and Advance Idea Mechanics use the Balanc e Scorecard as a tool to help the company to maintain its standing and also lift technological improvements. Advance Idea Mechanics will be a division that lives in the world of technological development and without it it will be just another company.This is why one of the main changes that this perspective brings is an focus on employee training, to make ready for action employees, which will constantly improve their knowledge base and make them an effective part of our new vision. The imprimatur word in Advance Idea Mechanics is idea and we hope we can pull some of our inspiration from the people who work within the company. With a new division, fresh ideas, and a plan for internal employee training, The Remco Group Inc and Advance Idea Mechanics see no reason why we will not have great employee retention and a spicy workforce.ConclusionAdvance Idea Mechanics is a new dream, but it is predicated on an idea that got its start from The Remco Group Inc. founding business. By dev elopment the Balance Scorecard and using the Communication Plan we know that we can implement strategic plan that will adhere to the principles outlined by the companys vision and mission statements. It will take all four perspectives Financial, Customer Perspective, Internal Business Process and Learning and offshoot to move the company to the next level, but with monitoring and adjustments, shareholders will pass the benefits when the day is done.ReferencesPearce II, J. A., & Robinson, R. B. (2009). Strategic Management Formulation, Implementation and Control (11th ed.). New York, NY McGraw-Hill. The Renco Group Inc.. (2014). Retrieved from http//rencogroup.net/index.php