The Balanced Score Card
Definitively the balanced scorecard is a performance management tool that is used to measure and report on the effectiveness and efficiency of execution of activities by staff and monitors the consequences of these on the performance of the organization in terms of its profitability and competitiveness (Kaplan, 2010, p. 3). The Daily Health business has a host of objectives in regard to the mission and vision of the company. The mission of the company specifically outlines that it is purposed to be preeminent global fast food restaurant which would be the first choice for every customer. This mission emphasizes the motto of the business that is “Your health is our Wealth” The vision for the restaurant, on the other hand, being; to establish “Daily Health” as the market leader in the fast food restaurants industry globally by providing healthier quality at an affordable price with an efficient service. The vision depictive of the goals of the franchise coupled by the mission and motto provide a clear means of providing a balanced score card on the activities that define the operations of the business.
Value on Investments
The company has made strategic steps in ensuring that the returns of the investments of the company are a profitable venture. To achieve this the company prides its self in offering quality meals at an affordable cost. Whereas the cost of production may seem quite high given the quality of the food products developed the costs of production are offset by sales volumes realized which are in the long run makes the company profitable. Hence shareholders and investors can rest easy knowing that the value of their capital appreciates along with the operations of the business. Moreover, the niche products provided by Daily Health in terms of food items that appeal to certain groups of people for instance vegetables for Indians serve as a competitive edge that ensures the profitability of Daily Health.
However, the fast food marketplace proves to be overcrowded with players such as McDonald’s and Burger King dominating the fast food industry. Hence, to ensure competitiveness differentiation is key. The main strongpoint of Daily Health in regard to differentiation is its commitment to quality customer service coupled by the provision of healthy diets.
Customer Value
The company prides itself in the development of the culture of ensuring that customers are served to their satisfaction. Ensuring customer satisfaction encompasses meeting the customer’s needs in regard to goods or services required. What is more, the company policy requires that personnel go an extra mile to ensure customer satisfaction in regard to the customer experience at the store.
Customer satisfaction is also enhanced by the provision of quality products that are also healthy and at very affordable prices. In this regard, customers find that food products from Daily Health come with a variety of advantages ensuring that they find value for their money when eating food from Daily Health fast food outlets. Similarly, Daily health improves on customer satisfaction through the provision of convenient alternatives to eating out. Through the introduction of moving vending kiosks Daily Health, can deliver hot food to the doorstep or to the office of a client saving them the time and energy that would otherwise be spent visiting the restaurant. All these efforts are aimed at providing the Daily Health customer with a remarkable experience at the company.
Process
This includes an evaluation of the performance of employees and the performance of the organization in general. In this regard, the management at Daily Health will make an evaluation and comparison of the sales volumes made in each of its stores and awards the store that makes the highest sales. Similarly, mechanisms for recognizing individual employee excellence and awarding such are also in the process of development to encourage employee performance improvement and hence improvement of the performance of the entire organization.
Learning and Growth
In the light of the legislation in place to increase the minimum wage of employees in the country, the company has made strategic plans in ensuring that all employees working for Daily Health are duly paid at rates acceptable by law. What is more, the employees are provided with a chance for career advancement where the company pays for their tuition for further education provided that their studies were based on fast food and nutrition. Further, the company provides avenues for employee motivation by providing incentives and gifts to exceptionally performing employees.
The organizational culture as well encourages team work and collective responsibility that makes all employees feel as direct contributors into the success of the business. However, the growth of the company is not purely reliant on its treatment of employees. Essentially, the company has made innovation a central aspect in its competitiveness in the industry. In particular, the development of moving fast food service makes it the first fast food store to use vehicles as stores that sell fast food products in this way it has improved accessibility to food products and the quality of service to its customers as well.
Bibliography
Kaplan, R. S. (2010). Conceptual Foundations of the Balanced Scorecard. Harvard Business School. Retrieved 6 25, 2014, from http://www.hbs.edu/faculty/Publication%20Files/10-074.pdf
