Aviation Ltd has just finished a two-day retreat where they revised and updated their mission and vision
Question:
Aviation Ltd has just finished a two-day retreat where they revised and updated their mission and vision statements and drafted a strategic plan. The organisation’s vision statement is:
“To be a leader in the development and supply of aviation products in the leisure and surveillance space”
The mission statement is:
“To maximise financial returns by delivering quality products and customer service excellence”
During their retreat, the board and leadership team identified the following strategies to pursue the upcoming year.
1. Operate in the black with 5% margin by increasing revenues and market share and reducing waste and energy costs
2. Improve staff health and well-being in order to motivate, recognize and retain staff
3. Provide high quality products and services to increase customer satisfaction and knowledge of product capabilities
4. Improve design and technology capability
The CEO has enlisted your help to implement a Balanced Scorecard.
a. Place the strategies into their appropriate perspectives of the BSC. Once strategies are categorized according to the four perspectives. Determine the causal linkages between the strategies and visually portray how these strategies support the Aviation Ltd mission and vision.
b. Complete the Balanced Scorecard in order to help Aviation Ltd focus its activities. (Use Self Evaluation Activity 14.1 as an example on page 593 of your text). Identify 2 measures per perspective that the organisation should use to track its progress in accomplishing each strategy.
c. Consider the advantages and disadvantages of implementing a team based reward structure to achieve business outcomes and how might that work in an organisation. Relate to Aviation Ltd OR reflect on a personal experience in the workplace.
d. What non-financial performance indicators might you consider in relation to strategy 2 and what would be the advantages of using those indicators.
Expert Answer:
a 1 Financial Perspective Operate in the black with 5 margin by increasing revenues and market share ... View the full answer
