How to Create your Balanced Scorecard: - Creating Your Main Visionary Strategic Statements:
This quick video explains the essential basics of creating your own Vision, Mission, Core Goal, SWOT and Value Statements.
This is the first stage of defining your complete Strategic Picture.

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Video Script:- Creating your Main Visionary Strategic Statements.

Every organization needs to define several fundamental Visionary and Analytical Statements to provide both stability and direction.

These form a vital part of your overall Strategic Picture, as the statements are normally displayed just above your Strategy Map to demonstrate alignment between the two.

Primary Statements:
Often an organization beginning the strategic planning process may already have the one statement that covers everything.

The All-In-One Combination Vision Statement
We want to be the market leader in our field, through improved sales and reduced costs as the result of prompt quality service and daily work performance improvements, using the resources of our highly valued staff members.

These kinds of verbose multi-part paragraphs are good as publicity statements which are released to the public.
However when used internally they must be split into their components, so they can receive individual focus and be engaged by both employees and stakeholders.

The primary visionary statements begin with the Core Goal, Vision & Mission.

You should aim to have between 3 and 6 primary statements, which can include a slogan or motto and a target market segment.

Here are some examples of common Visionary Statements starting with the Core Objective or Core Goal, which is what you will look like if you succeed in implementing your strategies and achieving your full potential.

Statement When Definition Example
Core Objective Core Goal Near Future A set level of progress or performance that you want to achieve by a specified date. Improve sales by 20% and reduce costs by 10% before January 2010.
Vision Future What you plan to be. To be a market leader in our field.
Mission Present What you are going to do on a day to day basis to achieve this result. Improve daily work performance through reliable products, excellent service and close customer contact.
Motto Present The Staff Mantra. Prompt quality service always.
Target Market Present Who we normally sell or provide services to. DIY Home Renovators.

Analytical SWOT Statements:
Your organization must analyse its performance and position.
You should understand the multiple internal and external factors that impact on your business.

Data from a range of sources including market research, demographic changes, industry reports, internal performance indicators, customer feedback and competitors analysis, must be used in identifying the following.

You will ultimately define a number of items in each statement area. The following lists one example of each.

Statement When Definition Example
Strengths Present We have a competitive advantage for the following reasons. We are well located on a major traffic route.
Weaknesses Present What are our disadvantages and poor performance areas? We have low sales volumes in grocery items because we are adjacent to a shopping village.
Opportunities Future What else can we do? Market research indicates that there is a big demand for auto servicing and repairs.
Threats Future What can go wrong? Industry reports predict that Crude Oil will dramatically increase in the next decade.

Secondary Statements:
It is recommended that you use these statements to provide a complete internal picture of your organization.
In the secondary statements you can include your organizational values to drive your internal and external behavior and provide an essential unifying force.

Typically you would have four or more value statements, as well as many policies.
Other groups of statements usually include customer returns or fault reporting procedures.

Statement When Example
Value 1 Present Effective Learning is our Key to Success.
Value 2 Present We value Equal Opportunity and Cultural Inclusiveness.
Policy 1 Future All Product returns will be processed with the minimum of time and the best possible outcome for the customer.
Policy 2 Future All Staff will be effectively trained to deliver superb customer service.
Procedure 1 Future All staff will utilize an effective product failure and response system to accurately record and track product issues.
Procedure 2 Future All staff rosters will incorporate appropriate training schedules.

Public Statements:
These are specially crafted for your customers to see.

Statement Example
Mission Provide state of the art, evidence-based health care.
Vision To remain in the top 10% of recognized health care providers.
Value Improved Quality of Life for our Customers.
Objectives Individualized customer care & attention;
Effective outcome focused treatment;
New quality equipment & diagnostic imaging tools;
Quality preventative sport & workplace health education;
Foster continuing academic advancement.

Privacy Issues

Whilst your internal statements and policies should always remain private, the use of an all-in-one vision statement is a good customer publicity tool.
The public statements are designed to be understood by your customers, so that they know how you are working hard to please them.
Here are some examples for Dell Computers...

Dell Computers
Mission With the power of direct and Dell's team of talented people, we are able to provide customers with superb value; high-quality, relevant technology; customized systems; superior service and support; and products and services that are easy to buy and use.
Purpose Provide customers with superb value technology.
Values Superior service & support, easy to buy, easy to use.

... and Pfizer Pharmaceuticals.

Pfizer Pharmaceutical
Mission We dedicate ourselves to humanity's quest for longer, healthier, happier lives through innovation in pharmaceutical, consumer and animal health products.
Purpose The quest for longer, healthier, happier lives.
Values Product Innovation.


Using a Strategy Map to complete your Strategic Picture:
The primary Vision, Mission and Goal statements should show at the top of your Strategy Map to build your complete strategic picture.

This diagram shows a basic template for many Strategy Maps.

The top rows of the map are considered the external interface and this should align with and provide support to the primary statements.

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Your private Strategic Picture should be considered highly confidential to your business, it should be closely guarded and never be located on an insecure web server.

However the concept of a public Strategic Plan is also becoming an increasingly popular business tool, particularly for service organizations.

They use this to demonstrate to their customers, all the hidden details and qualities, of how their operations are striving to meet their customer’s needs.
- It is an excellent Sales Proposal Tool.
- Customer Knowledge & Satisfaction is increased.
- Customer Collaboration & Communication is improved.

Summary:
Spending time on developing the statements we have covered in this video is an important first step towards the creation of your strategic plan.

This important work will be a very productive activity that builds improved staff collaboration and team-work.
Strategic planning forms the foundations of your operations and is the genesis of your future competitive advantage.

Thank you for downloading and watching this presentation.