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Homework answers / question archive / Maruhan Corporation Ltd
Maruhan Corporation Ltd. operates amusement parks similar to those such as Universal Studios, Six Flags, Disneyland etc. Maruhan's mission is to provide high quality family entertainment that exceed guest’s expectations and will create lifelong memories. To achieve this goal, Maruhan strives to provide safe, clean, friendly family environments at reasonable prices.
In addition to the amusement parks, the company operates a community outreach program. Through volunteerism, it offers educational and recreational programs (examples: after school programs for children and teenagers, employment related training for adults) and special events at its facilities.
The president of the company, John Smith has asked you to lead a team of employees in developing a balanced scorecard for its parks.
Question 1) Develop the balanced scorecard for the company’s president John Smith.
Most importantly, for each of the four main elements of the balanced scorecard (i.e. Customer objectives, Financial objectives, Internal objectives, Learning & Growth objectives) recommend at least four metrics with a detailed explanation of how these will assist employees and management to monitor or improve the performance of the firm.
I just need help knowing how the measures help assist employees and management to monitor or improve the performance of the firm.
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Financial Perspective |
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Customer Perspective |
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Internal Operations Perspective |
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Learning and Growth |
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I will recommend the Financial Initiatives , Customer Initiatives and Learning and Growth Initiatives.
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Explanation:-
The First one that I will recommend was a Financial Initiatives in this metrics it will help employees and the management to reduce waste and focus more on the profitable component of the firm specifically monitoring the inventory. the Second one is Customer Indicatives, customer's satisfaction is what the firms want to acquire. Doing business is all about how you provide in managing the customers expectation through your services provided. In this Metrics also, the firm were be able to Improve a better customer Experience. The last one is Learning and Growth Initiatives employees are the greatest assets of a firm it is very important to expand the mentoring program of each employees. Collaborative effort between the Employees and the Company is the key in the Firms Success. it is very important to value these three metrics Financial, customer and Learning and Growth for the betterment of the performance of the firm.
