Business Model and Strategic Plan Part III: Balanced Score Card and Communication Plan
Introduction
Amkor Technology is one of the world leaders in the supply of products and services in semiconductor technology. For example, its major area of interest is offering testing services for manufacturing, supply of advance integrated circuit components, as well as contract services for semiconductor assembly. Amkor clients comprise more than 300 global leaders in electronics and semiconductor industry (Amkor, 2016).
Vision of the Company
Amkor Technology is committed to be the world’s most trusted reliable manufacturing test services and assembly for electrical and semiconductor industry.
Overall Company Mission Statement
The overall mission of the company is “to be the world’s top trusted provider of reliable test manufacturing and assembly services as well as innovative solutions to microelectronics and semiconductor companies utilizing advanced technology which is a product of close collaboration with clients and partners engaged in supply chain.”
Technology Division Mission Statement
Mission of Technology Division of Amkor Technology is to utilize innovative skills and other resources to produce advanced microchips that are in line with the dynamic nature of the semiconductor industry.
Amkor Technology Core Values
Strategies.
The strategies identified for the Amkor Technology Division are grouped into four perspectives: financial, customer value, internal process, and learning and growth as shown in the four quadrants of Fig.1.
The strategies in the four quadrants in Fig.1 have causal linkages between them. A strategy map (see Fig.2) has been designed to visually demonstrate how the division’s strategies contribute to the overall company’s mission and vision. This strategy map helps in clearly communicating the relationship between strategies and mission.
Metrics and Targets for Strategic Objectives
Metrics and targets for each of the strategic objectives in Fig. 1 has been developed and presented below.
Communication Plan.
Results of the balanced Scorecard need to be communicated. The communication plan will contain the following parts.
Reason for communicating: To inform other stakeholders about the results of the BSC and marshal their support to help in achieving the overall mission of the organization.
Audience: Potential audience include company employees, managers, shareholders, and company board
Audience view regarding the BSC: The opinions, views, or knowledge of the audience regarding the BSC card will be obtained by carrying out a simple survey in form of a questionnaire. This will help in designing the best presentation that suits them.
Defining the message: The audience will be informed of the overall need to improve organizational performance, tools used to improve organizational performance, and why BSC was chosen. They will be expected to offer their individual and collective support towards the achievement of excellent organizational performance through the strategies identified and presented in BSC.
Key messages for audience: Although the message is the same, certain parts of the BSC have to be stressed depending on the specific audience. For example, financial perspective would be stressed for those in the sales and marketing while learning and growth perspective would be stressed for those in the HRD/M department. Those in R&D and manufacturing would receive more information regarding internal processes perspective and customer value perspective.
When to deliver the message: The message will be delivered after completing BSC and probably towards the end of the financial year when the new financial year is almost starting.
Method of delivering the message: The general delivery of message will be done in a public presentation where all the stakeholders attend the launching of the BSC. This time, only a brief summary of BSC will be presented in PowerPoint. After that, each stakeholder will be provided with a soft copy of the BSC. It will be send through the usual company mailing system to each of the managers who will then forward to employees working under them. Email has been found to be not only cheaper but also convenient and faster way of communication with a possibility to retain a backup which is retrievable at ease (Lehman and DuFrene, 2010). All the audience will be encourage to provide feedback and further clarification on what is not understood. Managers will be trained further on the BSC. They will then guide the employees working under them to implement the strategies.
References
Amkor. (2016). Speeding Time to Market: Turnkey IC Design, Assembly, Test and Logistics Solutions. Retrieved from: http://www.amkor.com/go/about-us
Daft, R. L. (2007). The Leadership Experience. Mason. OH: Thompson South-Western.
Lehman, C.M. & DuFrene, D.D. (2016). Business Communication. Mason, OH: South-Western Cengage Learning.
Terry, K. (2016). Sigma Performance Levels – One to Six Sigma. Retrieved from: http://www.isixsigma.com/new-to-six-sigma/sigma-level/sigma-performance-levels-one-six-sigma/
Kaplan, R.S. & Norton, D.P. (2006). Alignment: Using the Balanced Scorecard to Create Corporate Synergies. Boston, Massachusetts: Harvard Publishing.
