Milestone 2

profilecortesanai310
BalanceScoresheet1.xlsx
Home>Business & Finance homework help>Management homework help>Milestone 2

Balanced Scorecard-Company A

BASIC BALANCED SCORECARD TEMPLATE 3
COMPANY NAME
ADDRESS [Insert text CITY STATE ZIP
Category STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS TARGET VALUES KPI ACTION PLAN DETAILS STUDENTS KPI SELECTION RATIONALE
YEAR 1 YEAR 2 YEAR 3 EXAMPLES OF PROGRAMS/INITIATIVES BUDGETS SELECTION RATIONALE CAUSE-EFFECT RELATIONSHIP
FINANCIAL Increase Sales Sales Revenue 27091 27876.639 28685.061531 Increase customer fair during festive seasons .The company can reduce waiting times and streamline operations of the airline.Prioritize profitability over renue growth and restructure whole fleet to increase passengers capacity.Increase workforce to 200 budget for workforce increase by increasing salaries from $2910000 to$ 3200000 Opearting cost afffects the profitability of business and determines its sustainability.A business is sustainable if it can minimize its operating cost while at the same time increasing icreasing profitability.Profitability is a competitive adavantage hence increaisng a company profitability gives it a competive edge over its rivals Reducing operating cost increases the firms net profit while increasing can increase o.Increase in revenue increases profits.Hence increasing revenue and decreasing operating costs helps achieve an increase in profit
Lower cost s Operating Costs 8840 lower by 10 % Lower by 10 %
Increase profits Net profit
Net profi t margin 8% Increase by 3% Increase by 3%
Net profit margin:
INTERNAL PROCESSES Reduce Carbon Footprint sustainable aviation fuel reduce by 10% reduce by 10 % reduce by 10% sustainable aviation fuel and fuelling digitalisation an optimiazation can be used to achieve carbon footprint .Digitizing operations to aid in retaining top notch talent SAF budget is five times the convection fuel. Budgetary allocation for HR technology :$320 per employee clients embrace clean technologies and energies, hence reducing carbon footprint attracts many clinets and justify the setting of high prices while digitizing HR operations aids in retaining the employees Digitizing HR operation helps eliminates paper thus reduces overelaince on unclean energy which helps reduce carbonfoot print
Reduce waste on product produces digitize operations by 40% by 50% by 80%
CUSTOMER/MARKET Improve customer loyalty Number of repeat clients increase by 20% increae by 30% Increase by 35% Customer loyalty can be improved by increasing responsiveness, rewarding repeated clients by offering discounts and providing extra value. Increase new client by taking advantage of online ratings and reviewing sites,recontacting old cutomers, creating loyalty program s Budget for setting up loyalty program wil be roughly $6000 Customer loyalty increases profist, improves revenues and also enables sustainabilty growth .Increasing new clients also improves sales revue and profits and minimizes cost of increasing return on investment .New customer enables the aviation firm to create build a strong brand customer loyalty programs Increasing customer loyalty improves market growth while expanding of market share widens the firm's overall customer base as a potential new clients follow the lead of existing ones.
Grow Market share Number of New customers increase by 15% increae by 20% Increase by 30%
LEARNING AND GROWTH Improve employee retention Employee turnover reduce by 20% Reduce by 20% Reduce by 25% Program in support of employe retention include recognizing and rewarding employees, enouraging worklife balance ,identifying a clear caree path for for employees and creating learning and development programs. Programs for increasing employee engagement are team-building activities and recognition programs for employees. Allocate $50000 for development program Increasing employee engagement and retention can help reduce employee turnover Improving employee engagement result in an increase in employee retention levels
Increase employee engagement open communication

Balanced Scorecard-Company B

BASIC BALANCED SCORECARD TEMPLATE 3
COMPANY NAME
ADDRESS [Insert text CITY STATE ZIP
Category STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS KPI TARGET VALUES KPI ACTION PLAN DETAILS STUDENTS KPI SELECTION RATIONALE Category
YEAR 1 YEAR 2 YEAR 3 EXAMPLES OF PROGRAMS/INITIATIVES BUDGETS SELECTION RATIONALE CAUSE-EFFECT RELATIONSHIP
FINANCIAL Increase Sales Sales Revenue increase by 20% Increase by 20% Increase by 20% Minimum aircraft of 30 . Achive 90 % seat capacity and increase customer fair by 20% during vacations .Differentiate into business and economic clas to attract more clients . Invest in aircraft with a lifespan of 25 years to reduce operating costs.Convert 40% of aircraft into economy class and teh newly acquired into business class Increase captiatl expenditure on aircraft acquisition by 50% Redicung operating cost will increase business profitabilty.Increase in sales revenues is likely to transalte into more working capital which can faciliatate the purchase of additional aircraft without relying on debt financing conidering that its current debt is $80000 An increase in revenue increase profist and a decrease in operating costs also increases revenues FINANCIAL
Lower cost s Operating Costs Reduce lower by 10 % Lower by 10 %
Net profit margin:
INTERNAL PROCESSES Reduce Carbon Footprint sustainable aviation fuel reduce by 10% reduce by 10 % reduce by 10% Improve cleanless, provide diverse meals and beverages, reduce in-fligh noise and improve amenities $70000 The company has negative reviews which are attributed to poor operational efficiencies. In-fight noise is an indication that the aircraft has not shifted to clean energy Improve operational efficiencies increases customer satisftacion while carbon print reduction enhance brand of the company which transaltes to increase in market share INTERNAL PROCESSES
Improve operational efficiency overall equipment effectiveness industry average industry average Slightly above industry average
CUSTOMER/MARKET Improve customer loyalty Number of repeat clients increase by 40% increae by 40% Increase by 45% Increase responsiveness, rewarding repeated clients by offering discounts and providing extra value. Increase new client by taking advantage of online ratings and reviewing sites,recontacting old cutomers, creating loyalty program s Budget for setting up loyalty program wil be roughly $12000 The company has negative reviews from its clients which indicates disastifaction from clients, hence improving customer loyalty is key to improving customer loyalty and increasing the firm's market share Increasing customer loyalty improves market growth while expanding of market share widens the firm's overall customer base as a potential new clients follow the lead of existing one CUSTOMER/MARKET
Grow Market share Number of New customers increase by 25% increae by 30% Increase by 35%
LEARNING AND GROWTH Improve employee retention Employee turnover reduce by 20% Reduce by 20% Reduce by 25% Program in support of employe retention include recognizing and rewarding employees, enouraging worklife balance ,identifying a clear caree path for for employees and creating learning and development programs. Programs for increasing employee engagement are team-building activities and recognition programs for employees. Allocate $40000 for development program Improving employee engagement result in an increase in employee retention levels LEARNING AND GROWTH
Increase employee engagement open communication