Balanced Score Card Essay

690 words - 3 pages

BALANCED SCORE CARD

FINANCIAL PERSPECTIVE
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.
MARKETING PERSPECTIVE
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....

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