This document contains instructions for your frontal project. For this assignment, imagine youre a junior member of the accounting team for The Daily Grind. The CEO has asked you to begin preparing for the upcoming Annual Budget and Planning Meeting, where the companys leadership team will review the companys performance over the previous year and discuss goals for the next year. Ahead of this meeting, the CEO has asked you to draft a meeting agenda and a balanced scorecard.

Begin by reviewing the background and appendices in this document. Then, follow the instructions in the Your Task section to create your meeting agenda and balanced scorecard. Submit both documents to this Assignment dropbox.

Background

The Daily Grind Coffeehouse is a privately held LLC that was founded in 2007 by two friends with a passion for quality coffee. The company is committed to providing the best cup of coffee in town by sourcing high-quality beans and training its staff to be knowledgeable and friendly. Additionally, The Daily Grind is dedicated to fair trade and donates 5% of its profits to support the communities of its farming partners.

Over the past 15 years, The Daily Grind has expanded from a single storefront to a local coffee chain with eleven brick-and-mortar locations. Each caf is decorated in a retro industrial style and features artwork and signage that tells the story of the company's crop-to-cup process and educates customers about coffee-related topics.

The Daily Grind offers premium coffee beverages and breakfast items, with an average sales of $2,750 per day per store. Some locations have higher sales due to factors such as location, square footage, and whether they have a drive-thru (all but two locations do). The average transaction is $5.74, and last year, the company saw $10,900,000 in total revenue.

2. Draft a Balanced Scorecard

In years past, the accounting group at The Daily Grind has historically focused on "financial" metrics, but it has been realized that "non-financial" metrics can also be important in driving positive business results. The Balanced Scorecard approach is a way to measure performance and drive business behaviors.

The traditional measurement categories include financial, customer, internal processes, and learning and growth perspectives, but for your scorecard, you may choose to focus on any combination of categories that you believe will drive positive business results and achievement of the next year's budget. For example, the scorecard provided as example (linked in D2L) focuses on three categories including quality, financial, and people. The "Quality" metrics chosen were intended to drive positive customer satisfaction. Achieving a high-quality rating was driven by a combination of internal processes to drive customer perspective. The "People" metrics are also a combination of internal processes and learning and development intended to drive a skilled, knowledgeable, efficient workforce providing professional services to clients. Again, this is only an example.

To clarify, we want you to be creative with your balanced scorecard. Its up to you to determine which financial and nonfinancial metrics to track, and how to best display the data. Balanced scorecards were covered in detail in week 9, and are discussed in chapter 13 of the Heisinger at al. text.

Appendix 4: Balanced Scorecard Elements for Reference

The balanced scorecard includes four perspectives of the business:

Financial Perspective: The financial perspective evaluates the profitability of the strategy and the creation of shareholder value. A company should balance long-term and short-term performance objectives. A companys financial performance improves through revenue growth and productivity.

Customer Perspective: The customer perspective identifies customer and market segments. Satisfying customers is the source of sustainable value creation. This perspective focuses on satisfaction, retention, and growth of the customer base.

Internal Business-Process Perspective: The internal business-process perspective focuses on internal operations that create value for customers that, in turn, help achieve financial performance. This perspective focuses on innovation (creating products/services that customers want), operations (producing and delivering existing products, services to customer), and post-sales-service (providing service to customer after sale of product or service).

Learning and Growth Perspective: The learning and growth perspective describes how the skilled employees, technology, and organizational climate combine to support strategy. Motivating and training employees greatly contributes to the customers value perception of the business.