TARGET VALUES KPI ACTION PLAN DETAILS STUDENTS KPI SELECTION RATIONALE Category STRATEGIC OBJECTIVES KEY PERFORMANCE INDICATORS YEAR 1 YEAR YEAR 3 EXAMPLES OF PROGRAMSINITIATIVES BUDGETS SELECTION RATIONAL CAUSE EFFECT RELATIONSHIP Increase revenue Total revenue from income statement 31,946 5 35,780 5 42,936 Revenue growth rate 20% Negotiate partnerships with credit card companies to support the frequent flyer program. Airlines are now dependent on To monitor and determine if the revenue millage programs for revenue [Genter, has increased, the revenue line item from FINANCIAL 2020). Many are mortgaging their programs to raise cash (Genter, 2020). Some Revenue growth = $13,356,000 the income statement must be monitored. Using the revenue growth rate, the increase To determine the rate at which the revenue in revenue is calulated estimates of top airlines' programs are as has increased, the revenue growth rate much as $5.9 billion [Genter, 2020). Total should be calculated. income per customer is estimated at $2.25 million (Genter, 2020). Develop now and innovative ways for customers to purchase tickets and chack % of sales per channel 25% 35% in Total number of downloads (shown as % of 35% 55 current customers] 75% Launch check-in and ticketing app. Mobile We want to measure how much of total The two KPk viewed together can show apps can improve brand awareness, increase revenue was generated through ticket sales indications of how many customers have INTERNAL PROCESSES customer loyalty, lower costs, and make the $1,000.000 /includes app development made through the app. This will give the app vs how many may be using the app process of flying more str more streamlined and and marketing costs, indication of the success of the app. We to make purchases. There is expectation efficient [Budd and Vorley, 2013). also want to measure how many of our that airlines will reduce their reliance on customers have downloaded the app. traditional technology (Wade, at al., 2020). Increase new customer growth rate Customer retention rate 70% 72% 75% New customer growth rate 30% 35% 40% Loyalty programs such as the frequent flyer Launch frequent flyer program. Loyalty We want to measure the impact of introducing a frequent flyer program. The progra , can encourage loyalty and CUSTOMER/MARKET programs have a long history as important drivers of customer retention and growth by intent is to increase the number of increase customer retention rates (Wever, $1,000,DDD customers while also giving existing 2017). Appraisals of competitor mileage offering loyal customers tangible and intangible rewards (Wever, 2017) customers a feature they have indicated programs show significant profits (Genter, they' want. 20201. The frequent flyer program may also positively impact the financial goals