Due Week 6: BA Plan Section 3: Analytics Dashboard Examples

Running Head: APPLE INC. CSF AND KPI 1

APPLE INC. CSF AND KPI 6

Apple Inc. KPI and CSF

Miguel Canales

Joylene Hall

BIAM300

March 24, 2020

Critical Success Factors

Apple Incorporation is a multinational firm whose success is a factor of smart goals which include consumer intimacy, operational excellence as well as strategic plans that are used in product innovations(Bergeron, 2017). For the three objectives to be achieved, it is advisable that the firm uses the critical success factors to evaluate the overall performance of the firm.

Product innovations

For Apple Incorporation to succeed in its critical success factors, it has to see to it that they maintain a particular routine over time. At first, the management has to remain committed to its mission as well as the overall daily operations of the firm. Commitment goes further beyond constant motivating the subordinates to seek new methods of doing activities. There are many innovations that are continuously taking place, and the management needs to see to it that the competitive advantage of the company is maintained(Khalek & Mohamad, 2018). Another critical success factor that is crucial in the sector pf product innovation is continuous improvement. This entails development in terms of skills and changes in the company. With the onset of new methods of marketing and customer satisfaction, it is clear that the managers need to continually upgrade in their ways of doing many things over time. This is an attribute that needs to be continuously developed over time to see to it that the overall performance of the firm consistently improves(Khalek & Mohamad, 2018).

Consumer intimacy

Customer satisfaction is another attribute that needs to be considered overtime. In order to maintain the overall image of the firm to the existing as well as the potential customers, communication within the firm and outside the firm is necessary. Communication is the means of exchanging ideas as well as learning the trends in the market place. In short, it gives a blueprint of the direction of the market and also the emerging trends in consumer preference(Khalek & Mohamad, 2018). The other critical success factor that needs to be considered is the quality data as well as reporting. When the information gave is regularly inspected. The output of the firm will be of high quality always. It is the quality of the technological products that will see to it that many customers continuously purchase from the company.

Operational excellence

For the operations of Apple Incorporation to be a success in many days, it is crucial tosee to it that the actions of the company are maintained in the long run. There are many attributesthat need to be considered overtime, like training and educating the employees. The workers are the single, most valuable assets on the firm who are responsible for the everyday activities of the corporation(Appleton, 2017). With the relevant training as well as education on various aspects, they perform with enthusiasm and are willing to partake in other ventures that will be helpful to the firm. Another critical success factor that improves the operational excellence of the firm is staff orientation. This ensures that the overall objectives of the firm are met and that every employee is responsible for his or her obligations; orientation is paramount(Appleton, 2017). It does not only familiarize the employee with fellow members, but it also guarantees them what is expected of them in the long run.

Key Performance Indicators

For the critical success factor to become a success, there are strategic key performance indicators that are required to make the entire process a roaring success over time. For the sufficient commitment of mangers, it is essential for operating cash flow as well as working capital to be considered overtime. The operating cash flow will show the ability of the firm as well as its stakeholders to pay for purchases as well as the operating expenses. It indicates the life of the business over time. On the other hand, working capital is necessary for showing the rate at which the current liabilities will be covered by the available money over time(Appleton, 2017). The other key performance indicators are the current ratio and also the debt to equity ratio that is essential in continuous improvement. The current rate is very crucial in illustrating the preparedness of Apple to meet the daily financial obligations for an extended period of time. It also enables constant improvement by maintaining the right level of credit rating over time that is needed to expand the firm. On the other hand, the debt to equity ratio is essential for showinghow efficient the shareholder's investment is being used in the growth of the enterprise over time(Bergeron, 2017).

The other key performance metric is the line of business revenue versus target. This helps in consider satisfaction in the long run. It indicates how efficiently a particular department is operating over a period of time. An excellent operational department is good for customer satisfaction over time. This can also be improved through a line of business expenses versus budget that outlines the relationship between institutional operations and the available financesover time(Appleton, 2017). Quality informationis also improved over time through accounts payable turnover and accounts receivable turnover over time. The reports payable turnover is very crucial in outlining the period that is required to pay the suppliers. This maintains the quality ofthe firm over time. The accounts receivable turnover, on the other hand, shows the rate of collecting accruals from customers.

To ensure that operational excellence is maintained, proper training, as well as education, is critical. To seed hat, this is effectively done; customer satisfaction and lifetime value are crucial. The net promoter score indicates the extent through which customers are satisfied while lifetime value is the personal and corporate growth that is received in the long run. The orientation of the employees is the other critical success factor that needs to be enacted for the success of the workforce in Apple incorporation(Bergeron, 2017).The key performance indicators that complement orientation is the revenue overview and the recurring Revenue Metrics. These two variables show the trends in profits overtime in the company. A positive response is an indicator of good teamwork as well as orientation in the company.

References

Appleton, L. (2017). An Overview of Key Performance Indicators. Libraries and Key Performance Indicators, 61–72. DOI: 10.1016/b978-0-08-100227-8.00009-1

Bergeron, B. P. (2017). Key Performance Indicators. Performance Management in Healthcare, 39–52. DOI: 10.4324/9781315102214-5

Khalek, A. A. M. B. & Mohamad, M. N. B. (2018). Critical Success Factors for Effective HACCP systems. International Academic Journal of Innovative Research, 05(02), 37–46. DOI: 10.9756/iajir/v5i1/1810014