Question

Wonder World Ltd. operates amusement parks similar to those such as Six Flags, Universal Studios, Disneyland etc. Wonder World's mission is to provide high quality family entertainment that exceed guests' expectations and will create lifelong memories. To achieve this goal, Wonder World 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 (e.g. after school programs for children and teenagers, employment related training for adults) and special events at its facilities.

Wonder World's president, Applie Baker, has asked you to lead a team of employees in developing a balanced scorecard for its parks.

Required: 1) For each balanced scorecard perspective identify two measures of performance that relate to Wonder Worlds' key success factors.

Answer 1

Balanced Scorecard approach takes into account both financial and non financial factors into consideration before arriving at a decision and is one of the most effective strategic decision making tool in the hands of corporate companies:

Now let us consider the following balanced scorecard perspective with 2key success factors:

1. Financial perspective: 1. Pricing for weekday tickets and weekend/holiday tickets for customers

2. Profit volume ratio for the current year

2. Growth/ Learning perspective: 1.Number of volunteers applied and trained for recreational programs

2.Number of new event/service ideas / plans contributed by employees/volunteers and successfully implemented during the year

3. Internal business perspective : 1. Number of new joy rides/ special events held at its facility.

2. Number of employees/trainees resigned/ left during the year

3. Number of unhygienic complaints received from customers during the year

4. Customer perspective : 1 Increase in number of customer visits during the Current year

2. Reduced prices or better offers on ticket prices offered to customers as compared to its competitors like Disney World

3. Quality of services offered to customers