Trans Global Strategic Goals and Key Performance Indicators
To: The Leadership Team of Transglobal Airlines
From: Controller of Corporate Innovation and Investment Division
Date: 14/6/2022
Subject: Strategic Goals and Key Performance Indicators to Evaluate the Company Performance
You are aware that the company will soon be exposed to stiff competition if any of the three presidential candidates wins the election. Therefore, we need to stay prepared to maintain our profitability. We should focus on goals that lead the organization towards long-term growth as we strategize on acquiring the selected aviation firms in the Caribbean specializing in chartered flights for luxury vacations using light aircraft so that we can get the maximum benefit from the acquisitions.
SMART Goals
Financial
One of the strategic goals that we shall consider is to increase revenue by 15% within two months. An increase in revenue will give us a competitive advantage because we will be able to acquire the two aviation plans and sustain operations without straining current resources. The company’s income will be assessed quarterly to allow progress monitoring and necessary adjustments. The average improvement in all revenue streams was 4%. However, with the acquisition and addition of more aircraft, the income growth will be expected to reach 15%, which is consistent with the company’s forecasts.
Internal Processes
The second goal is to select shareholder representatives within one month. It is important to understand what shareholders need because we rely on their support to improve our performance, hence the need to choose representatives to participate in the decision-making process and express shareholders’ concerns and interests. Shareholder involvement will be encouraged by requesting shareholders to give their feedback on important decisions within the organization. We will also publish a monthly company newsletter to update shareholders on the internal processes and forecasts within the organization.
Customer
The third goal is to increase the customer base by 10% within two months. According to Jomadar (2010), a large customer base creates a competitive advantage due to a large market share. Therefore, we need to increase our customer base before competition increases. We will focus on increasing customer satisfaction to increase customer satisfaction and create customer loyalty. We will also improve the quality of the services offered at our airline to attract more customers through referral and word-of-mouth marketing.
Learning and development
Implementing technology in ticketing and flight booking plays a vital role in increasing the competitive advantage of airline companies. We will focus on using technology to increase convenience for our customers by automating customer service tasks. We will also use automation to reduce the workforce to create more capital for the acquisitions, thus the need to automate some tasks. We will create a platform enabling customers to book flights online and limit the number of customer service agents to three within two months.
Key Performance Indicators
The goals identified above will be measured through specific key performance indicators. According to Appleton (2017), key performance indicators measure a company’s success by focusing on specific objectives, goals, and targets. The key performance indicator for the increase in profit margin will be the changes in the company’s profits. An increase in profit will indicate the company’s success in meeting its financial goal. The success of the shareholder representation goal will be measured based on the availability of a representative for every shareholder group. An increase in market share will be used to measure the increase in customer base. The success of customer service automation will be measured using the number of customers served by the customer service department per week. Consumer surveys will be conducted to evaluate and identify additional consumer aspects relevant to the company’s service. Further, customer feedback will serve as a performance indicator, whereas positive feedback will indicate good performance. Finally, learning and development will be measured by surveying company employees to assess their satisfaction in handling their duties.
References
Appleton, L. (2017). An overview of key performance indicators. Libraries and Key Performance Indicators, 61-72. https://doi.org/10.1016/b978-0-08-100227-8.00009-1
Jomadar, D. K. (2010). Leveraging the customer base: Creating competitive advantage and the impact on the financial performance of the business.
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Question 
Scenario
You are a former Navy officer and fighter pilot who is now the controller of a division of TransGlobal Airlines, which utilizes a fleet of corporate jets for charter at several airports in the southeast part of the United States. Your division’s private charter clients include several Fortune 500 companies in the region. The Chief Financial Officer (CFO) has informed you that the company is considering the acquisition of two smaller aviation firms in the Caribbean specializing in chartered flights for luxury vacations using light aircraft (60 passengers or less). The CFO has tasked you with assessing the organizational benefits of acquiring these aviation firms.
Trans Global Strategic Goals and Key Performance Indicators
Before evaluating these aviation firms, you want to evaluate the performance of TransGlobal Airlines.
Prompt
Write a memo to the rest of the leadership team at TransGlobal Airlines, identifying strategic goals and key performance indicators (KPIs) to help evaluate the company’s performance. Use the information provided to you in the TransGlobal Airlines Company Information document to complete your memo.
Specifically, you must address the following rubric criteria:
SMART Goals: Write at least one strategic goal using SMART criteria for each of the four components in a balanced scorecard. Explain your rationale for choosing each goal.
Financial
Internal process
Customer
Learning and development
KPIs: Identify at least one KPI corresponding to each strategic goal.
Explain how you determined the KPIs.
Guidelines for Submission:
Submit a 1- to 2-page Word document using double spacing, 12-point Times New Roman font, and one-inch margins. Sources should be cited according to APA style. Consult the Shapiro Library APA Style Guide for more information on citations.
Southern New Hampshire University. (n.d.) TransGlobal Airlines company information. Retrieved June 01, 2022, from https://learn.snhu.edu/content/enforced/1085412-MBA-620-Q5911-OL-TRAD-GR.22TW5/Course%20Documents/MBA%20620%20TransGlobal%20Airlines%20Information.pdf?_&d2lSessionVal=pIGNoYaH3QRW22ZEa1WraTjpF&ou=1085412
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