Designing BSC
• Customer Perspective
Customer perspective allows Maxis to identification of customer outcome measures such as customer satisfaction, customer loyalty, customer retention, customer acquisition, and customer profitability in order to target their customer and market segment (Kaplan and Norton 1996). Besides that, customer perspective also can help them to focus on their merchandise and service in order to increase their sales and profit. For example, Maxis will be concern on increasing their quality of product and service because it may help to increase their customer satisfaction and stay loyalty with their product.
Objectives:
Customer Retention
Customer retention is an effective method for Maxis to maintain current sales
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When they able to meet customer’s satisfaction, it might help customer stay loyalty with them. They can evaluate customer satisfaction by using customer survey. Besides that, Maxis can increase the quality of product and service to achieve their customer satisfaction.
Customer Profitability
Maxis should set their objective by selling as much as possible in order to gain more customers. The more customers they gain, the more profit them able to get. However, Maxis have to analyze their target market because some customer able to bring more profitable for the company. Therefore, Maxis should identify and notice which customer that they want to targeted. Measure:
Customer Survey
Customer satisfaction surveys are playing an important role in measures. Customer surveys are the most effective way to gain customer feedback and increasing customer loyalty. Besides that, customer surveys are the process of finding whether their customers are satisfied with their product and service. If not, Maxis can do some improvement based on the information that provided by their customer. For instance, Maxis can do customer surveys via face to face, mobile phone or
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Financial perspective helps identification of measures that answer the question “how do we look to shareholder?” Objective:
Maximize Profitability
Maximize profitability is one of the primary objective of Maxis. Maxis will try to lower down the cost of production in order to obtaining profit maximization. Maximize profitability is the process to identify the most effective way or method to achieve the highest rate of return from the production model. The purpose of this effort is not to identify type of profit, but is to obtain possible highest profit margin based on current situation.
Reduce Cost Structure
Cost structure can be identification of how the costs related with the production of good and service. It can be divided into two types such as fixed cost and variable cost. The objective of Maxis is to minimize the cost of operation that they spend so that they able to maximize the profit. For example, Maxis will minimize the cost at every stage so that they will able to get more revenue and profit. Measures:
Return On Investment
- working with working staff to set up strategies, models and frameworks. - Setting client administration measures & assuring that the current standards satisfy the customers & helps retaining them. • Coordinating with the workers themselves can help effectively in setting appropriate models for the procedures & systems because they are the ones who interact directly with raw materials and producing the products, so they would know better if anything in manufacturing needs improvement or so. • It is important to satisfy the current customers in different possible ways in order to retain them which eventually leads in attracting more customers as well.
In regards to the Brent Small case, I personally believe that Mr. Smalls shouldn't be found guilty due to the lack of evidence. Although there was a witness who saw what happened, the evidence isn’t consistent with the case. The vehicle did match the description but the witness was unsure of the license plate and the damage to the vehicle isn’t significant to the crime committed. I don't believe that the evidence is strong enough to convict Mr. Smalls.
1. In the broader context (not specific to Dollar General), what is KKR’s investment strategy? What are the challenges KKR will encounter to make its investment in Dollar General successful? How could KKR add value to Dollar General?
The customer satisfaction survey is measured through a survey by rating them through satisfaction
Customer satisfaction is the best way to find whether the customer would like to come back to the place to purchase again the best way to see whether the customer
Traditionally, pro forma earnings are lampooned as “earnings before the bad stuff”, which are lower than the figure according the GAAP. Companies may present to the public their earnings and results of operations on the basis of methodologies other than GAAP. And this presentation in the earnings release is often referred to as “pro forma” financial information. Many companies were thought to be using pro forma figures not only to exclude one-time charges, but also to strip put recurrent costs and other elements that they claimed concealed their “true” performance. “Pro forma” financial information can serve useful purposes.
Also, various methods of controlling costs such as standard costing system and flexible budgets have close relation with the variable costing system, in turn making it easy to use those methods. 3. Companies using variable costing system are able to prepare income statement in contribution margin format that provides necessary information for cost volume profit (CVP) analysis. On the flip side, this data cannot be directly obtained from a traditional income statement prepared under absorption costing
For its product, Maxis introduces variety of products in order to meet the needs of its customers who come from various backgrounds and uses telecommunications in different functions. This can be achieved due to the investment on the customer research and product and service development. Other than that, Maxis has its customer service, support service and hotline number to be contacted regarding any problems or complains or inquiries about the product and services. They could be reached in person where consumers could go to the nearest Maxis store, call the hotline number, search for the support services guidelines or chat live with the customer care services via online using Maxis account ID. Next is the price of its product and services.
(Jacoby, 1971; Jarvis & Wilcox, 1976). Dick and Basu (1994) propose that customer will be loyalty to the brand is the result of psychological processes and has behavioral manifestations. Therefore it should incorporate both attitudinal and behavioral. Satisfaction is recognized as an important element for loyalty in both the consumers and business marketing. Satisfaction with previous purchase experiences plays an important role in determining the future purchase behaviors particularly call as an effort-minimization strategy (Jones and Suh, 2000: Pritchard et al, 1999).
SUPERMAX Corporation Berhad should be aware of their cultural differences in the workplace. Since there have a lot of different race in Malaysia and also most of the workers are from the different background so it can easily cause communication barrier happen between all the workers within the workplace. SUPERMAX should treat this issue seriously and handle it properly in order to avoid misunderstanding and tension between employees. It is vitally significant that there is a good relationship between all the employees and also the superior because it can affect the company’s productivity and efficiency. SUPERMAX should have cultural sensitivity in order to create a harmonious atmosphere in the workplace at the same time it can improve the performance of the company.
However, financial performance subsists with different levels of organisation, which is concerned with measuring financial performance of organisation. These measures are categorised into four that includes profitability, gearing, liquidity or working capital, and investor ratios. However, the financial plan of organisation is associated with operating plan since financial plan involves revenue and expenses for the activities that are linked with each objective. Hence, the main reason, in monitoring financial plan is to audit the committee (Hasan, 2011).
Customer satisfaction is at the core of their actions in every step of their supply chain. The company offers different products in their stores, letting the customers decide whether to consume them
Each and every goal should be analyzed to determine the potential impact on firm
Superior quality and innovation are important to achieving superior customer responsiveness. The ability to satisfy the needs of your customers will allow for your company to stay ahead of your rivals. Customers will be more likely to choose a company if they feel like their voice or opinion is being heard. Another part of this building block is the customer response time. Customers want their products quickly, so ability to deliver the product or service at a quicker rate is important.
First of all customer means A person who buys goods or services from a shop or business, loyalty means the state or quality of being loyal, faithfulness to commitments or obligations. So Customer loyalty is the key objective of customer relationship management and describes the loyalty, which is established between a customer and companies, persons, products or brands. “Customer loyalty is an essential aspect in any organization whether it is offering a good or providing a service. “Many organizations are looking for various ways to increase their customer loyalty as it has a positive effect on the profitability of the organization.” (Gremler 1996: 171, Abdullah et al. 2000: 826).The individual market segments should be targeted in terms of developing customer loyalty.