MBA 620 Balanced Scorecard_Diaz_Vickybethza

BASIC BALANCED SCORECARD TEMPLATE COMPANY NAME ADDRESS Not provided CITY Miami STATE Fl ZIP Category STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS TARGET VALUES KPI ACTION PLAN DETAILS STUDENTS KPI SEL YEAR 1 YEAR 2 YEAR 3 EXAMPLES OF PROGRAMS/INITIATIVES BUDGETS SELECTION RATIONALE FINANCIAL Improve net proft margin Increase net profit margin by 12% in 3 years 2% 4% 6% Increase YoY annual growth Increase YoY annual growth by 8% in 3 years 2% 2% 4% Revamp the current check in process Change the bagging process CUSTOMER/MARKET Increase customer retention 70% 78% 85% Increase market share Increase market share by 30% in years 22% 27% 30% Provide customer service training Develop a leadership training program Increasing destinations to attract new customers. Increase marketing efforts to attract new customers. $250.000 for marketing efforts. $500,000 to increase destinations across existing airports. increasing destinations and marketing campaigns will promote the company and make consumers aware of their travel destinations. This can increase customers traveling on the airline and provide for increased fares in the future. INTERNAL PROCESSES Revamp check in bag process in the next 3 years 25% complete 50% complete 100% complete Self service kiosks can be added to serve the purpose of printing baggage tags and assist with check in and boarding passes. $250,000 for new Kiosks. $100,000 for new app software that is downloadable. Improving customer satisfaction by focusing on areas that were negative feedback was provided. Create new bagging process with self ticketing in 3 years 25% complete 50% complete 100% complete Increase customer retention by 85% in 3 years Increasing travel destionations to increase consumer base. Promote a new loyalty program that offers incentives for customers to return. $500,000 to increase destinations. $100,000 to roll out a new loyalty program along with collaterol. Providing a loyalty program will encourage customers to return. Increasing travel destinations will broaden the consumer base. LEARNING AND GROWTH Create and implement a new customer service training program in the next 3 years 30% complete 30% complete 40% complete Create a robust leadership training program to encourage and engage the employees wanting to grow in the company. Create a customer service training program that will provide the necessary tools to current employees that will set the company apart from other comptetitors. $75,000 for implementation of training programs. Customers are interested in companies that provide exceptional customer service. Being able to offer this will increase our consumer base and drive more ticket sales. Employee engagement is important and prmoting the employees through career development will promote retention and reduce turnover. Create and implement leadership training courses over the next 3 years 30% complete 30% complete 40% complete

LECTION RATIONALE CAUSE-EFFECT RELATIONSHIP By increasing travel destinations the company can attract new consumers. By increasing marketing efforts the company can gain more exposure and potential customers. Increasing functionality and correcting the areas that consumers found negative will demonstrate the companys commitment to the consumer and hopefully increase sales and travel. By providing loyalty points then consumers will feel the desire to travel more on our airline. This will increase market share and revenue for the company. Decreased turnover equals less costs from on-boarding new hires and training them. Increased customer service can drive new consumers and tickets sales.

BASIC BALANCED SCORECARD TEMPLATE COMPANY NAME ADDRESS Not provided CITY Orlando STATE Fl ZIP Category STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS KPI TARGET VALUES KPI ACTION PLAN DETAILS STUDENTS KPI SEL YEAR 1 YEAR 2 YEAR 3 EXAMPLES OF PROGRAMS/INITIATIVES BUDGETS SELECTION RATIONALE FINANCIAL Increase Gross Profit Margin 33% 37% 40% Increase annual growth YoY Increase annual YoY growth to 5% in 3 years 3.50% 4% 5% Improve operational processes fair good excellent Provide in house HR services Provide in house HR services in next 3 years outsourced in CUSTOMER/MARKET Increase Customer Retention 50% 60% 70% Increase destinations 5 destinations Provide higher level education benefits Increase Gross Profit Margin to 40% in three years Increasing travel destinations. Increase marketing campaigns. $250,000 for new travel destinations and $150,000 for marketing campaigns. Increasing destinations can attract more customers. Increasing marketing can amake the company more recognizable and attract consumers. INTERNAL PROCESSES Improve operations processes from fair to excellent in 3 years Hire an outsourcing company to to review internal operation process and promote efficiencies. Begin hiring internal HR services. $50,000 outsourcing company. $200,00 for internal HR staff. Providing HR in- house can improve employee retention and engaement by having direct support. Hiring an outsourcing company can promote efficiencies and potentially reduce staff overhead. hired HR staff Fully internal HR services Increase Customer retention by 70% in 3 years Increasing travel destinations and providing a loyalty rewards program. $250,000 in travel destinations. $100,000 for new loyalty program. increasing travel destinations can promote new customers and increase sales. A loyalty program can incentivize consumers to continue to travel with our airline. Increase to 5 more destinations in the next 3 years 2 destinations 3 destinations LEARNING AND GROWTH Increase benefits for higher level education over 3 years $500/yr awarded $1500/yr awarded $5,000/Yr awarded Providing employees with annual contributions for higher level education (college and above) to promote growth. Creating and implementing a customer service training program to include refresher courses. $150,000 annually for employee contributions for continued education. $50,000 for customer service training and implementations. Investing in employee growth can support retention and employee engagement. Improving customer service training can increase customer retention and set the organization apart from its competitors. Create customer service training programs Create and implements a new cutomer service training program in 3 years. Program created Program implemente d Program refreshers offered

LECTION RATIONALE Category CAUSE-EFFECT RELATIONSHIP FINANCIAL CUSTOMER/MARKET Increasing destinations and marketing can attract consumers and drive more ticket sales. An internal HR can promote employee engagement and reduce employee turnover. This can reduce on-boarding expenses. Improving efficiencies can potentially reduce staff overhead and salaries. INTERNAL PROCESSES A loyalty program can improve consumer loyalty and increase sales of tickets. Increasing travel destinations can attract new customers. Reducing turnover by promoting employee growth can reduce on-boarding expenses and provide highly qualified team members. Great customer service can attract new consumers and prmote the organization. LEARNING AND GROWTH