Measurement System
| KaBoom! |
Memo
To: Darrell Hammond, CEO and co-founder of KaBoom !
From: Ningyu Hou (April)-9565130, Wenyi Li (Lily)-9558764
Date: [ 10/4/2010 ]
Subject: Prepare a performance measurement system for KaBoom!
Introduction
The primary objectives of this case were to create a performance measurement system by balanced scorecard in order to understand how the company has performed and its impact on performance. The analysis considers internal and external factors of the scorecard to the company.
Balanced scorecard
The KaBoom!’s mission is to change the situation of “kids rich, playground poor” around the country. To meet the mission, the company has to help the funding partners build their brands, develop their human resources and enhance their public relations efforts. As the performance of the company was not well enough, the company needs a better performance measurement system. In other words, the company needs an effective balanced scorecard to support.
Relationship within Balanced scorecard (see Appendix 1)
The four perspectives in balanced scorecard are affected by each other. For any type of business, finance is always the foundation of the company. The successful finance is able to support the company’s internal operation as well as learning and growth. The objective of internal operation is to know which processes are important and to make the process more efficient. Therefore, meeting the objective may satisfy the companies’ customers and shareholders. In addition, from learning and growth perspective, the company may focus on training employees and extending the organization’s culture, which will cause the sustainability of the company. Also, how the business performances directly influences the degree of customers’ satisfaction. In contrasts, the satisfaction of customers will lead a better financial performance.
Four Perspectives of Balanced Scorecard * Financial perspective
We picked three measure methods to improve the financial
Memo
To: Darrell Hammond, CEO and co-founder of KaBoom !
From: Ningyu Hou (April)-9565130, Wenyi Li (Lily)-9558764
Date: [ 10/4/2010 ]
Subject: Prepare a performance measurement system for KaBoom!
Introduction
The primary objectives of this case were to create a performance measurement system by balanced scorecard in order to understand how the company has performed and its impact on performance. The analysis considers internal and external factors of the scorecard to the company.
Balanced scorecard
The KaBoom!’s mission is to change the situation of “kids rich, playground poor” around the country. To meet the mission, the company has to help the funding partners build their brands, develop their human resources and enhance their public relations efforts. As the performance of the company was not well enough, the company needs a better performance measurement system. In other words, the company needs an effective balanced scorecard to support.
Relationship within Balanced scorecard (see Appendix 1)
The four perspectives in balanced scorecard are affected by each other. For any type of business, finance is always the foundation of the company. The successful finance is able to support the company’s internal operation as well as learning and growth. The objective of internal operation is to know which processes are important and to make the process more efficient. Therefore, meeting the objective may satisfy the companies’ customers and shareholders. In addition, from learning and growth perspective, the company may focus on training employees and extending the organization’s culture, which will cause the sustainability of the company. Also, how the business performances directly influences the degree of customers’ satisfaction. In contrasts, the satisfaction of customers will lead a better financial performance.
Four Perspectives of Balanced Scorecard * Financial perspective
We picked three measure methods to improve the financial