Perspectives Objectives Goals Indicators Initiatives Financial Customer Internal Process Learning & Growth A jewelry store in...

Perspectives	Objectives	Goals	Indicators	Initiatives
Financial
Customer
Internal Process
Learning & Growth

A jewelry store in the central downtown is facing low employee morale, decreased sales, and lowered profits since the last 3 months. The owners of the jewelry store have hired you as a Strategy Consultant to design strategies that would help them remedy these issues. Before you formulate any strategies you need to determine the KPIs of strategy implementation. For this purpose, you decide to implement the Balanced Scorecard technique. Fill the balanced scorecard template above with the relevant objectives, goals, indicators, and initiatives.

Expert Solution

Balance Score Card for a Jewelary Store is given as under:

Perspective	Objectives	Goals	Indicators	Initiatives
Financial	to show a sustainable growth in profit	20% increase(say)	Financial Statements Comparative Profit and Loss Account	· Minimise permanent workforce · Increase sales by partnering with intermediaries such as financial intermediaries to customers · Make investment schemes for customers · Reduce conservative advertisement expenditure and enhance social media marketing with information analytics
Customer	To influence the customers dynamically	15% increase of visits and 10% increase of enquiry (Daily average)	Reference of concerned files/registers(records)	· Special window displays on special occasions · Periodical change in window displays · Special package/spot discount on a day in a week · Attractive package matrix through social media
Internal Process	To become an effective benchmark in servicing customers	90% decrease in customer complaints	Customer Service Report Analysis	· Pre-complaint monitoring system · Redesign of customer service design (as per above)
Learning and Growth	To maintain employees proactive and professional	25% replacement of salespersons, 10% replacement of Management faculties	Records of New contracts and Terminations	Dynamic recruitment, selection and training process in association with the great concept of Human Capital Management

keosha answered 5 days ago

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