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Virtual Child Care Bodyguard Case Study

1022 Words5 Pages

The Board of Directors has devised a scorecard to ensure lower management will track the company strategic objectives. The strategic objectives cover four quadrants their selected because they will make the company more effective in the market. Each area will confer three objectives, the three objectives will extensively examine the quadrants. The examination of the quadrants will discover enough research to create the objectives. Once the scorecard is created, upper management will determine a communication plan to distribute throughout the Virtual Child Care Bodyguard (V.C.B). The Board of Directors used the data from swott analysis to understand their business position in the market. When the company created the division, they applied the …show more content…

If there is no demand for the product, companies will not to be able to sell their product. VCB understands the importance of the customer, they dislike the term customer turnover. It illustrate losing revenue. The proof is in the numbers: according to studies done by Bain & Company, “increasing customer retention by 5% can lead to an increase in profits of 25% – 95%, and the likelihood of converting an existing customer into a repeat customer is 60% – 70%, while the probability of converting a new lead is 5% – 20%, at best.” (Ngdatacom, 2017). Their primary objective in quadrant II customer retention, it can equate to quadruple the profit. The secondary objective are customer satisfaction and customer value.
• Customer retention- increase by 1.5 % each year for the next three years.
• Customer satisfaction “providing best possible customer service as possible”, if the customer is happy they will stay engage in the company products. This will improve aid the company reaching the objective in customer retention rate.
• Customer Value- “Making our customers the overriding …show more content…

If the privacy laws were to become stricter, they will severely damage the company as outline in swott analysis. “To be vigilant in lobbying for lenient privacy laws.”
• Operations metrics- “The best suited tool to determine if the company is adhering to the financial perspective in quadrant I is using the financial ratio, net profit margin, return on assets, and operating profit margin”. Providing the customer with exceptional services and ensuring the company is following the company policy and procedures eliminate all defection with the company. Customer service is an expensive tool but a key component in making the business operating at maximum efficiency and effectiveness.
Satisfied workers will boost company earnings and save the company money. They will save the company money by not leaving the company to pursue other employment. When the employee turnover is high, normally the company is wasting money on training new employees. Happier employee will go beyond their job description and responsibilities to complete the task. Happy employees conduct their selves with a positive attitude in the workplace and addressing the customer with a polite attitude. The positive attitude displayed to customer their business is appreciated, this is improving customer

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