This website uses cookies to ensure you have the best experience. Learn more

Balanced Score Card Essay

690 words - 3 pages


To drive revenue growth Sip-n-Sweet objectives concentrate on diversifying into new markets locally within North Luzon. As well as branching out into new customer markets and increasing the number of stores owned by Sip-n-Sweet. Each of these objectives chosen all tie in with Sip-n-Sweet’s overall strategy of expansion of the business in the near future.
The key performance indicators incorporated into this perspective help to measure each objective for the business. The main similar measure here is percentage of increase in revenue growth in the overall business and individual store-level. To achieve these objectives they would have to be ...view middle of the document...

Each of these objectives link with each other, for example if the customers are satisfied with the service and products offered by staff then they are likely to come back time after time. Creating customer loyal will result in increasing customer retention rates hopefully leading to customer profitability. Therefore ensuring customers are provided with great customer service and high standards of quality products will make this relationship stronger with customers and employees.
The first objective presented is innovating products, this objective is important for businesses to maintain their strategy and brand image pride themselves on producing unique high quality products. Therefore it is important for Sip-n-Sweet to innovate new products in order to compete within market. To measure this objective Sip-n-Sweet will look at increase in sales from new products in order to measure if they are successful or not. For that reason employee should be aware of the new products that are available.
Objectives are set to improve on delivery times for customers; this is aid of achieving high quality of service to link to customer satisfaction, retention and profitability....

Other Papers Like Balanced Score Card

E Martketing Service Essay

331 words - 2 pages ”. Through active listening and communication we understand the value and importance of each event. We are committed to undivided attention to every detail of your event with the highest quality. We work together with our clients as a team with common goals. In short, we believe in a balanced score card: • Provide every guest with an experience that exceeds clients' expectation. • Deliver events on target for time and budget. • Be the best, no

Finance Ratios Essay

1097 words - 5 pages refers to the concept that involves the creation of a set of measurements for four strategic perspectives It provides information to managers to assist on strategies and policy formulation / attainment About 50% of fortune 1000 firms use the balanced scorecard methodlogy This method acts as a catalyst that assists staff to see their jobs and parts of the outside world from a totally new and more dynamic perspective The Balanced score card

Balanced Scorecard Paper

777 words - 4 pages reporting measures, it is now being used worldwide for many governmental agencies, businesses, nonprofit, and industry organizations and the main goal for these entities is to see future performance that will help them all achieve a better balance, vision and strategy for each area or segment of their organization. Utilized in different ways and for different reasons, the balance score card may be used for something as a simple measurement of

Strategic Planning

1299 words - 6 pages and they are financial, learning and growth, customer internal process. With every perspective the Relaxation Hut has covered at least three of the strategic objectives, targets and performance measures. The Relaxation Hut will incorporate all the performance measures every day into the store so that the Relaxation Hut will achieve the goals and give every satisfaction to the consumer. Balanced Score Card Shareholder

Mcdm Case Study

1109 words - 5 pages advantage and work balance. Likelihood to succeed is determined by the following characteristics and they include existing technical standards, capacity and training in the organization, complexity of the project, business alignment, and risk and management capability of the project. The following is the balanced score card by Kraft: Likelihood of success criteria and weights: Technical standards: 10% Skills, capability and training: 10

Balanced Scorecard and Six Sigma

2469 words - 10 pages managerial emphasis. Hopt, RH, Litman, DJ, Ustad, IM, Pratsch, LW, Welch, RA, Tychan, TJ &Denett PA, n.d. Guide to a Balanced Scorecard Performance Management Methodology. (accessed September 18 2010). Johnson, A & Swisher, B 2003, How six sigma improves R&D. Research Technology Management 46 (2), pp 12–15. Kaplan, RS & Norton, DP 1992, The Balanced Score- card

Performance Management Framework

500 words - 2 pages ; organizations will use performance frameworks for devise strategy.  The one most frequently used is The Balanced Score Card in which Vision and Strategy for the organization is measured from 4 standpoints, financial; customers; internal business processes; as well as, the learning and growth desired to achieve the vision as well as to adjust and progress. Companies will construct objectives into their performance management system that are

Going International

1042 words - 5 pages , the company is currently using balanced score card. Balanced score card is a management tool that is used to ensure that the objectives of key aspects of an organization such as finances, processes, and employees are achieved. It is actually a matrix that needs to be scored accordingly it have three major columns, the first column is perspective column, which covers key organizational perspective that needs to be met. These include the learning

Balanced Scorecard And Communication Plan

886 words - 4 pages division's objective is to improve competencies and offer continuous education in the department. The Sater Bros. mission is to offer excellent service in a safe and friendly environment. To meet this goal, we will offer our employees skill building programs on site along with certification programs. We will work to have 80 percent of our employees trained within the first year. |  |Balanced Score Card

Initial Assessment

1421 words - 6 pages organization. This tool will be used simultaneously to: To conduct a SWOT analysis and identify the seven key elements existing in the company and to what benefit they serve. “Balanced Score Card”--- This will address the organization change agenda by identifying and measuring three criteria, namely; Customer Perspective, Alignment, and teamwork. Resort Demographics The Nirvana hotel group is Jamaican owned and operated, it comprises four

Overview of R&D Evaluation- Accounting

1155 words - 5 pages questions – A balanced score card model can be developed based on these questions. 4/27/2015 13 Additional consideration in evaluation method..contd • Retrospective versus Prospective evaluation – Retrospective focus depends on empirical data – Prospective depends on the indented metric such as value proposition, Return on investment etc. • Communicating evaluation results – Depends on audience (Internal versus external

Related Essays

The Balanced Score Card Essay

603 words - 3 pages and customer service (David, 2013, p. 135). . Balanced Scorecard Institute 2013, Balanced scored card basics, viewed 4 October 2013, . David, FR 2013, Strategic management concepts and cases: A Competitive Advantage Approach, 14th edn, Person, Boston, Mass. Hoggett, JR, Medlin, J, Edwards, L, Tilling, M & Hogg, E 2012, Accounting, 8th edn, John Wiley & Sons Australia Ltd., Milton, QLD. Kaplan, RS 2010, ‘Conceptual foundation of

Balanced Score Card Essay

817 words - 4 pages Mecklenburg County positioned for a tough economy through a Customer-Focused Balanced Scorecard Grantham University BA510 Accounting Professor Ezewuchi Amaefule March 24, 2015 Abstract Management’s ability to affectively plan, control, and make good financial decisions in accounting practices are an essential component to achieving organizational profitability. Budgetary restraints, increased operational costs

Balanced Score Card On The Go Essay

975 words - 4 pages A balanced scorecard will have very beneficial effects to the On-The-Go-Convenience-Store performance measurement. Currently the business division is not meeting the financial expectations, however focusing only on a financial metric may lead to a very myopic vision of the issue and therefore lead to the wrong decisions by the managers with other serious problems left overseen. The organizational objective of the OTG-CS is be to increase

Balance Scorecard Essay

1296 words - 6 pages ------------------------------------------------- bALANCE sCORECARD GOOGLE INC. September 12, 2015 BRITTANY JUSTICE September 12, 2015 BRITTANY JUSTICE BALANCED SCORCARD Google Balance Score Card |   | | |   | METRIC | OBJECTIVES | MEASURES | Supporting Initiatives | Financial | Increased Revenue | Increased Revenue | To innovate current products | Financial | Increased Profit | Increased Profit | To innovate current