MBA 620 Balanced Scorecard_Diaz_Vickybethza
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Marketing
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Jan 9, 2024
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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.
3
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