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Business, Math/Economics/Statistics - Excel Based

Measuring Success in an Organization

Measuring Success in an Organization

COMPANY A 
ADDRESS Miami International Airport CITY Miami STATE Fl ZIP 33142
STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS TARGETS VALUES KPI ACTION DETAILS  STUDENTS KPI SELECTION RATIONALE Category
2017 2018 2019 EXAMPLES OF PROGRAMS/ INITIATIVES BUDGETS  SELECTION RATIONALE CAUSE-EFFECT RELATIONSHIP
FINANCIAL  Growth in revenues Sales revenue 27981 28784 29610 1. Purchase of New Modern Aircraft that will have lower costs of operation.                    2. Sell More tickets, which will increase the revenue, maximize sister company partnership, and increase the net profit margin. 3. Opening new international routes to increase reservations Allocate $300,000 for obtaining new aircraft and $2,000 for processing the opening of new destinations Sales revenue is selected because it indicates the financial performance of the company. Costs reduce revenues, and when they decline, it has a positive impact on the environment. The selection of net profit margin highlights the financial performance of the company, while the number of reservations influences the success of the company. When company sales increase, there will be an increase in revenues; also, when expenses are cut down, the costs incurred drop, while when the net profit increases, there will be an increase in net profit margin. An increase in the number of reservations will improve the success of the company due to an increased net profit and overall success. FINANCIAL
Reduction of costs reduced cost expense 10028 9000 8700
Increase the net profit Net profit margin 22% 23% 24%
Increase reservations The number of reservations made per year 4000 5000 6000
CUSTOMER 1. Launch new international routes to increase the number of customers. 2. Enhance customer service by providing better amenities, a clean environment, and customer service to reduce customer complaints and achieve more positive customer reviews. Allocate $2,000 to facilitate the opening of new destinations and $1,500 to enhance customer services. The selection of a percentage increase in the number of customers served indicates an improvement in the marketing abilities of the company. In contrast, customer reviews show an improvement in customer satisfaction. There is a direct relationship between increased customer reviews and improved company performance. Also, there is a direct relationship between improved brand image and company. Image. Also, reduced customer complaints will signify an improvement in airplane cleanliness. CUSTOMER
New Customer Growth: Percentage increase in the number of customers served 21% 25% 30%
Better Satisfaction of Customers Customer reviews 3000 4000 5000
Improve Brand Image Customer reviews 3000 4000 5000
Better amenities and cleanliness of airplanes Number of customer complains 50 20 10
INTERNAL PROCESSES 1. Introduce a variety of payment methods from which customers select                                2. Hire more chefs and kitchen employees to enhance food service                                                                           3. Automate most of the company processes to reduce operational costs Allocate $50,000 for automating the company processes, including adapting new payment methods to the current system, and $20,000 for hiring more kitchen staff to enhance food service. The selection of payment options is due to offering customers a variety of options to suit their preferences. Also, the choice of overhead costs is due to their influence on the operations costs of a company. There is a direct relationship between the number of payment options offered to customers and their satisfaction levels. Also, there is a direct relationship between reduced overhead costs and increased company revenues due to a reduction in operational costs. Further, better food service will correspond with positive customer reviews. INTERNAL PROCESSES
Enhanced payment convenience Number of payment options 2 4 8
Make the food service better Customer reviews 3000 4000 5000
Reduce operational costs Amount of overhead costs $1,200 $1,150 $1,100
LEARNING 1. Introducing an employee training program                                                 2. Introduce an incentive system for employee motivation. Allocate $30,000 for the new employee training program and $20,000 for the incentive package for motivating employees. The selection of employee turnover rate is influenced by the fact that employees will seek to leave a company that is not productive. Additionally, the employee turnover rate shows the level of motivation in employees. There is a direct relationship between a high employee turnover rate poo,r employees’ productivity, and reduced training and motivation. LEARNING AND GROWTH
Employee productivity improvement and retention Employees turnover rate 10% 9% 8%
Train and motivate  employees Employees turnover rate 10% 9% 8%

 

COMPANY B
ADDRESS Orlando International Airport CITY Orlando STATE FL ZIP 32827
STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS TARGETS INITIATIVES  STUDENTS KPI SELECTION RATIONALE Category
YEAR 1 YEAR 2 YEAR 3 PROGRAMS/INITIATIVES BUDGETS  SELECTION RATIONALE CAUSE-EFFECT RELATIONSHIP
FINANCIAL Growth in Revenue Company sales 28,000 29,000 30,000 1. Make a promotion campaign with theme parks to attract more customers and, thus, revenues. 2. Do away with less profit destinations to reduce expenses incurred                      3. Launch new profitable destinations to increase net profit margin The company will allocate $2500 for a unique promotional campaign and $50,000 for launching new destinations Company sales are the selected KPI  because this is the primary reason for business existence. The amount of expenses incurred indicates a better ability to manage costs, while a high net profit is preferred. There is a direct relationship between company sales and growth in revenue and between reduced costs and expenses incurred by a company. Further, a lower net profit will result in a poor net profit margin. FINANCIAL
Reduction of costs Expenses incurred 9,778 7,560 7,840
Net Profit Margin Net profit 3,000 4,500 5,350
CUSTOMER New Customer Growth: The number of customers served 15% 20% 25% 1. Opening new travelling destinations to serve more customers.                                          2. Enhance plane cleanliness and hasten customer service to obtain positive ratings and, thus, increase daily reservations. Allocate $ 5000 to obtain better cleaning accessories and $10,000 for the process of registering new destinations. New customers will bring more profit to the company, while a positive rating and review from their side will attract new customers. The cleanliness of the plane will also influence the positive rating. There is a direct relationship between a positive customer rating and improved customer satisfaction. In contrast, an increased number of customers is a direct association between an increase in customer number and their growth. Further, increased cleanliness will have a direct association with increased daily reservation. INTERNAL PROCESSES
Higher Customer Satisfaction Customer rating and positive feedback 2000 3000 4000
Increased daily Reservations Airplane cleanliness 5% 10% 15%
INTERNAL PROCESSES Enhanced payment convenience Time taken in payments 3 minutes 2 minutes 1 minute 1. Invest in an online payment system that will improve transaction processing ability for customers.                                                              2. Introduce a customer-based menu, where customers will order what they want and how they want it to be served through increased food varieties. Allocate $10,000 to include more foods in the menu and then allocate $5,000 for acquiring a new payment processing system. Time taken in making payments will attract or send away customers. Thus, the time has to be short. With a number of food varieties offered, customers will desire a more diverse food menu. There is a direct association between a shorter period taken to pay by customers and an enhanced convenience for customers. Also, when the food menu offered is expanded, more customers will be satisfied with the customer service. CUSTOMER/MARKET
Customize the food menu The number of food varieties offered 13 20 30
LEARNING Increased productivity of employees Number of errors and complaints received from employees 50 30 15 1. Introduce an employee training program to update their customer service skills.                 2. Introduce incentives for employees that are based on performance Allocate $10,000 for the newly introduced employee training program and $7,000 for the incentive package Errors and complaints in the company from employees will indicate their dissatisfaction, which leads to poor performance and productivity. Also, a better rating from customers will mean increased customer service for the company. There is a direct association between reduced errors and complaints from employees and improved worker productivity. Additionally, a direct relationship exists between better customer service Penh, and quality and a positive rating from customers. LEARNING AND GROWTH
Better customer service and enhanced quality Customer rating and positive feedback 2000 3000 4000

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Question 

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. The CFO intends to develop a new business plan for the organization if your analysis recommends moving forward with the acquisition.

Measuring Success in an Organization

Measuring Success in an Organization

After an initial assessment, the company has shortlisted two airlines they want to examine further for acquisition. To understand all aspects of the two airlines under consideration, you have visited each proposed site to assess their performance. The assessment includes creating and analyzing a balanced scorecard for each airline with all four components—financial, internal processes, customers/market, and learning and growth—that will impact the acquisition.

In this milestone, you will use the given information to create balanced scorecards for Company A and Company B.

Prompt
Use the Basic Balanced Scorecard Template to create a balanced scorecard for each company.

Specifically, it would be best if you addressed the following rubric criteria:

Use the data given in Company A Information and Company A Financials to create a balanced scorecard for Company A. The balanced scorecard should highlight key performance indicators, such as net profit, annual growth, and market share, and include the four components.
Financial: Complete the financial section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Internal Processes: Complete the internal processes section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Customers/Market: Complete the customers/market section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Learning and Growth: Complete the customers/market section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.

Use the data given in Company B Information and Company B Financials to create a balanced scorecard for Company B. The balanced scorecard should highlight key performance indicators, such as net profit, annual growth, and market share, and include the four components.
Financial: Complete the financial section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Internal Processes: Complete the internal processes section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Customers/Market: Complete the customers/market section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Learning and Growth: Complete the customers/market section of the balanced scorecard template, identifying two of the most relevant key performance indicators.
Explain your rationale for the KPIs chosen, with an explanation of the cause-and-effect relationship between the selected KPIs.
Guidelines for Submission:
Submit two completed Excel spreadsheets using the provided template.