Balanced Scorecard

The Balanced Scorecard Framework

Developed by Robert S. Kaplan and David Norton

"If you can't measure it, you can't manage it" – Peter Drucker

Aligning organizational processes with mission: The case of service excellence. By: Crotts, John C.; Dickson, Dundan R.; Ford, Robert C.. Academy of Management Executive, Aug2005, Vol. 19 Issue 3, p54-68, 15p.

Key Result Areas Measures Strategies

Financial:

1.) Increase inventory turnover

2.)Become more efficient in labor management 1.) Improve inventory ratio turnover from 88.7 for 2012 to 100.0 for 2014

2.) Increase sales per employee by 30% for 2014 1.1) Provide management training on inventory controls

1.2) Continue mission of fresh foods to reduce frozen and shelf stable inventories

1.3) Continue increase in catering sales

2.1) Offer premium menu options

2.2) Continue increase in catering sales

Customer Service:

1.) Reduce customer waiting times

2.) Improve employee training for customer satisfaction 1.) Reduce ticket times by 20%

2.1) 10 % increase in positive experiences through customer surveys and social media

2.2) Track returning customers 1.1) Monitor efficiency in production

1.2) Increase seeking skilled and experienced food-service labor

2.1) Continued and constant training of front-line employees

2.2) Recognize employees with outstanding customer service skills and maximizing their time and exposure with customers

Internal Process:

1.) Increase marketing toward millennial demographic

2.) Begin expanding into international markets 1.) Track market and industry data for increase of sales to demographic.

2.) Opening two locations by first quarter of 2014 1.) Re-focus 10% of current marketing budget to attract Millennial demographic

1.2) Increase social media presence

2.) Get familiarized with general environment of Canada especially legal and political

3.) Increase early evening sales.

4.) Diversify and re-image menu by following and leading industry food trends such as...