Reference no: EM132702207

Anthony started Pasar, an e-commerce platform as a social-first, mobile-centric marketplace where users can browse, shop and sell on the go. Integrated with logistical and payment support, the assetlight platform aims to make online shopping easy and secure for both sellers and buyers. Business was good and flourishing. With the onset of COVID-19 pandemic, Mark and Anthony see another opportunity of expansion for Pasar. Many brick-and-mortar retailers and heartland enterprises have been impacted. Both Mark and Anthony believe that Pasar's platform could help these retail businesses diversify and find ways to reach customers while at the same time help Pasar to become a major player in the rapidly growing ecommerce market. In line with this, Mark and Anthony decide to adopt a new mission for Pasar: "Creating opportunities and enriching lives for the consumers, small businesses, employees and investors with technology."

Pasar has also set the following goals:

1. Achieve 10 per cent increase in sales revenue and a 20 per cent market share.
2. Achieve a return on investment of 15 per cent.
3.  Offer a quality Web-site which is user-friendly and secured. Mark and Anthony is considering designing a balanced scorecard (BSC) to better manage Pasar's competing priorities, using Kaplan and Norton's four perspectives.

Problem (a) Use the balanced scorecard to explain why is it important for Pasar to include nonfinancial performance measures in addition to financial ones in achieving its strategy and mission?