Reference no: EM132937792
Klinim solomon Ltd is a travel company that specializes in package tours to environmentally sensitive destinations. These types of tours are growing in popularity and, while Klinim Tavua has little problem attracting customers, it has noticed that a number of competitors have just commenced operations. Even some of the regular tour companies are starting to offer green tours.
Netani Waqalala, the managing director, has asked the financial controller, Clarence Hoot, to design and implement a new performance measurement system that may help protect the business against competitors. Waqalala has spent many years working for large multinationals and appreciates the value of strategic planning and a good performance system. Recently he attended a seminar on balance scorecards.
To provide the foundation for a new performance measurement system, the managers of the company participated in a strategic planning retreat. They drafted a set of objectives to support the four perspectives of a balance scorecard
Perspectives Objectives
Financial Improve cash flow
Improve profit
Customer Increase market share
Increase customer satisfaction
Internal business process Increase office cost effectiveness
Develop innovative tours
Learning and growth Increase environmental knowledge of employees
Required:
Problem 1: For each of the four perspectives, provide lead and lag indicators that would support the objectives. Make sure that your measures relate specifically to Klinim solomon ltd.
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