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Essay Available:
Pages:
2 pages/≈550 words
Sources:
2 Sources
Style:
APA
Subject:
Business & Marketing
Type:
Research Paper
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 10.37
Topic:

Strategic Objectives for the Four Balanced Score Card Areas for Tesla Inc.

Research Paper Instructions:

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 internal and external environmental analysis.
Develop at least three strategic objectives for each of the four balanced scorecard areas for Tesla Inc.
Financial Objectives:
1.
2.
3.
Measures:
1.
2.
3.
Targets: Timeline/ Metrics:
1.
2.
3.
Customer Objectives:
1.
2.
3.
Measures:
1.
2.
3.
Targets: Timeline/ Metrics:
1.
2.
3.
Internal Business Process Objectives:
1.
2.
3.
Measures:
1.
2.
3.
Targets: Timeline/ Metrics:
1.
2.
3.
Learning and Growth Objectives:
1.
2.
3.
Measures:
1.
2.
3.
Targets: Timeline/ Metrics:
1.
2.
3.

Research Paper Sample Content Preview:

Project Metrics (Tesla Inc.)
Student Name
Institutional Affiliation
Course Name and Number
Professor
Due Date
Project Metrics (Tesla Inc.)
Strategic Objectives for the Four Balanced Score Card Areas for Tesla Inc.
Strategic objectives are defined as measures of attaining an organization’s mission and vision. They consider the mission, vision, and values of the business organization as well as the results of the external and internal environment. With Tesla Inc. as the business organization, strategic objectives can be formulated on the four areas of the balanced scorecard. These areas are financial objectives and performance, internal business process, customer objectives, and Tesla Inc.'s learning and development objectives.
Financial Objectives

Measures

Targets: Timeline/ Metrics)

To grow shareholder value and increase revenue.

Tesla Inc. must increase sales and expansion of the product line.

Increase annual vehicle sales by 40%.

To reduce the total production cost.

The company should consider outsourcing lithium batteries from China to cut costs.

Battery costs cut by 30%.

To increase sales and production capacity.

Tesla Inc. should launch three more factories for vehicle production.

Increase sales by 50% in the first two years.


The company must also produce more vehicle units.

Increase annual production capacity to 2 million vehicles (Almenhali et al., 2021).

To increase international expansion.

Venturing into European and Asian markets.

Annual expansion of 25%.

Customer Objectives

Measures

Targets (Timeline/ Metrics)

Provide customers with services and products that exceed expectations.

Innovation and product improvement using technology.

Increase annual funding in research and innovation by 25% (Vynakov et al., 2016).


The company must expand its product line.


To increase and improve customer service quality.

Opening more centers and hiring more employees for customer services is necessary to avoid overbooking.

Have presence of adequately staffed customer service centers in all stores.

To achieve a customer satisfaction rating of above 70%.

Tesla Inc. must conduct monthly customer ratings and surveys.

Attaining a customer rating of above 70% ...
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