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MBA620 mod 2 memo - Lecture
Measuring Success in an Org (MBA 620)
Southern New Hampshire University
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To: Leadership Team, TransGlobal Airlines From: Kim Davis, Controller, TransGlobal Airlines Date: August 4, 2024 Subject: Strategic Goals and Key Performance Indicators for Performance Evaluation Given our strategic plans and the possible purchase of two smaller aviation companies focused on luxury charter services, it is crucial to assess the effectiveness of TransGlobal Airlines. This memorandum presents strategic objectives using the balanced scorecard approach, integrating SMART criteria and relevant Key Performance Indicators (KPIs) for each objective.
- Financial Objectives Raise total yearly revenues to $25 billion by the conclusion of the 2025 fiscal year. The objective is clear, quantifiable, attainable, pertinent, and time-sensitive (SMART). With existing revenues at $20 billion, achieving a revenue boost of around 21% in the next two years presents a challenge but remains achievable, considering our recent growth patterns and market prospects. Yearly Total Income This key performance indicator (KPI) assesses overall income levels and enables us to gauge our advancement in reaching the established revenue goal.
- Goals for Internal Processes Improve operational effectiveness by decreasing the average time taken to turn around aircraft by 20% by the conclusion of 2024.
This objective aims to refine our internal procedures to boost efficiency and enhance service delivery. Decreasing turnaround time will lead to better fleet use and increased customer satisfaction, making it a pertinent and attainable aim. Mean Aircraft Turnaround Duration This key performance indicator assesses the duration required to ready an aircraft for its subsequent flight, offering valuable information regarding operational effectiveness. 3. Customer Reach a customer satisfaction rating of 90% by the conclusion of 2025. Attaining a strong customer satisfaction rating is essential for keeping existing clients and drawing in new ones. This objective is distinct, quantifiable, and time-sensitive, supporting our focus on honoring customers and fostering relationships. Customer Satisfaction Index This key performance indicator is based on customer opinions and surveys, showcasing the general contentment of our passengers with our offerings and assisting us in pinpointing areas that need enhancement. 4. Learning and Growth Make sure that all employees finish the FAA’s Safety Assurance System (SAS) training by the conclusion of 2024. This objective highlights our dedication to both safety and the growth of our workforce. It is clear, quantifiable, and pertinent to our operational quality and safety criteria.
MBA620 mod 2 memo - Lecture
Course: Measuring Success in an Org (MBA 620)
University: Southern New Hampshire University
