Wk 4 - Apply: Signature Assignment: Project Plan

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BUS475_v11_wk3_Balanced_Scorecard.docx

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BUS/475 v11

Balanced Scorecard Template

BUS/475 v11

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Balanced Scorecard for Air BnB

Background

This balanced scorecard contains the objectives applicable by Air BnB to generate better sales operations.

Scorecard Areas

Financial Objectives	Measures	Targets: Timeline/ Metrics
Increase direct bookings	Total Revenue	Increase by 5 % in the first quarter
Increase mobile application conversion rate	Return on IT investment	Increase by 20% in the second quarter
Increase reservations	Better profit projections	Attain over 40% margin of reservations in two months

Customer Objectives	Measures	Targets: Timeline/ Metrics
Customer retention	Provide a homely experience while at the Air BnB locations	Generate above 70% customer satisfaction rating
To offer a booking platform with a high degree of usability	Work with experienced Information Technology (IT) experts	Promote more than a 5% increase in bookings within 4 months of operation
All Air BnB employees to get trained on appropriate communication	Increase in overall satisfaction	Promote more bookings every day

Internal Business Process Objectives	Measures	Targets: Timeline/ Metrics
Brand awareness	Use of advanced advertising methods	Increase Air BnB bookings by 10% within the first year
Improvement in employee satisfaction	Training employees to conform to current hotel management techniques	Promote a 4% increase in weekly employee reviews
Ensure guests feel at home	Purchasing of familiar items for the houses	Increase booking rate by 20% in the first year

Learning and Growth Objectives	Measures	Targets: Timeline/ Metrics
Manage employee turnover	Facilitate employee needs as they meet the company’s capability	Reduce turnover by 5% in the first year
Remarket to satisfied guests	Ensure the high-quality experience gets attained again	Promote better sales projections
Tweaking the user experience of the mobile app and website	Generate better usability	Increase profitability every work while in operation

Explanation of the Objectives

Air BnB can apply high commitment in its human resource operations to ensure engagement among all its participants by connecting with the internal business process objectives (Boon et al., 2019). The purposes mentioned above are imperative to validate profitability operations that can get managed for the company. In terms of brand awareness, ensuring a large audience knows the company's operations is applicable to ensure smooth operations and connecting with guests. Improving employees' satisfaction at Air BnB is related to the procedures involved in managing the entire customer service process. The technique involved in ensuring all guests feel at home is valid for the required service delivery in the whole company. The timelines mentioned are attainable since Air BnB already has a large market for its operations.

Regarding improving customer objectives, all the purposes mentioned are suitable for adequate growth. Customer retention is appropriate for employee experience since the Air BnB locations are in diverse areas. Employees conversant with research can ensure proper growth after dealing with permissible technological operations in the platform. It can be possible to always advertise suitable locations to customers after generating a detailed approach to working with the Air BnB locations' unique arrangements. The operations used in the Air BnB customer service department are all connected to all participants and corresponding objectives (MOLOCO, 2022). Experienced employees can ensure this capability so that the company can provide guests with the required amenities. Performance appraisal can be conducted for all company departments to ensure guests always feel at home.

In terms of learning and growth objectives, Air BnB can manage employee turnover to prevent exposure to sessions where there can be no work done. This is highly imperative in ensuring management of the hotel since the employees would already know about the guests’ behaviors and thus generate operational techniques for remarketing the high-quality services (Rubel et al., 2018). Since Air BnB users book homes online, tweaking the user platforms is the best method to validate authentic guest experience so that they shall never miss out on any experience required from the system. Better usability is possible for the design, and thus this enhances a required structured approach for dealing with work operability, and then guests experience a high usability score.

References

Boon, C., Den Hartog, D., & Lepak, D. (2019). A Systematic Review of Human Resource Management Systems and Their Measurement. Journal Of Management, 45(6), 2498-2537. doi: 10.1177/0149206318818718

MOLOCO. (2022). The Airbnb Marketing Strategy: Helping Guests Feel Right at Home. Retrieved 7 June 2022 from https://www.moloco.com/en/blog/the-airbnb-marketing-strategy-helping-guests-feel-right-at-home.

Rubel, M. R. B. R., Rimi, N.N., Yusliza, M., & Kee, D. M. H. (2018). High commitment human resource management practices and employee service behaviour: Trust in management as mediator, IIMB Management Review, (30), 4, 316-329, https://doi.org/10.1016/j.iimb.2018.05.006.