The current report presents a balanced scorecard for Spinner Pet Sitters. Based on the balanced scorecard and the company’s performance, the report also provides recommendations for Shelly to improve its performance in the coming years.
Balanced Scorecard for Spinner Pet Sitters
A balanced scorecard is a strategic management tool, which is used to align a business’ performance and activities with its mission, vision, and objectives. Based on the information provided in the case study, the following balanced scorecard is developed for Spinner Pet Sitters:
Recommendations for Spinner Pet Sitters
Keeping in view the planned and actual performance of Spinner Pet Sitters and the gaps identified in the balanced scorecard presented above, following recommendations have been put forward for Spinner Pet Sitters to improving its performance.
- The quarterly profits were reported to be above the targeted level, which is a positive sign for the company. However, in order to maintain the continuous growth in profits, the company needs to achieve higher efficiency in its operations. On the other hand, the return on capital employed was considerably lower than expected. In the coming periods, this could be improved by investing additional capital resources for enhancing the operational efficiency of the business.
- As far as the customer satisfaction rate and customer recommendation rate are concerned, the actual results show that all expectations were met during the quarter. However, it is recommended that the business should keep its focus on delivering high quality and practicing effective customer care to ensure sustainability.
- The efficiency level in the company’s processes should be improved in order to reduce the duplication of activities.
- Jobs should be enriched and job designs should be reconsidered to improve the overall job satisfaction level of employees.
Reference List
Balanced Scorecard Institute. (2013). Balanced Scorecard Basics. Retrieved from https://www.balancedscorecard.org/BSC-Basics/About-the-Balanced-Scorecard
Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard-Measures that drive performance. Harvard Business Review, 70(1), 71-79.