1.0 Financial PerspectiveThe first financial objective will be to enhance the division’s financial growth by promoting profitability using the Book it! Program. The second financial objective will be to lower the costs of selling the products at the division by 3% in the first year, 2% in the second year and by 1% in the third year. The third financial objective will be to increase the market share using the book It! program by $% in the first year, 5% in the first year and 6% in the third year. The last financial objective will be to increase Yum’s competitive position in the Pizza market. The profitability of the new division will be attained by cutting costs (Kaplan, Norton & Rugelsjoen, 2010). The financial strategies will help in providing maximum benefits to the shareholders at the company. There will be two metrics that will be used to measure the success of the financial objects. They include the growth of sales and the improvement in net profitability at Yum Brands (Kaplan, Norton & Rugelsjoen, 2010).
2.0 Customer Value Perspective
The division will focus on the customers through three strategies namely value creation, Customer retention, customer value and customer satisfaction. The participants in the new program who will be children will be rewarded to promote customer loyalty. Customer value will be upheld by making up a follow up on the children in a bid to motivate them to develop a love for reading. Personal pizzas will be offered to the children who read using the Book It ! and this will encourage the children to associate reading with success. Accordingly, the children's futures will be better after using the program. The program will increase the ordering process for all customers because most of the ordering will be made through online means. Children will get free rewards and parents who shall accompany their children to get their pizza rewards at the Pizza Hut will also be reward with free pizzas. The HR department will conduct surveys on customers to ascertain the satisfaction levels and to find out whether there are nay complaints. After the surveys, measures will be taken to improve in the areas of weaknesses. The metrics that will used to assess the success of the customer strategies include a big market share, continuous reduction in the cost of sales and market leadership (Chavan, 2009).
3.0 Internal Operations Perspective
The first internal business strategy will be expanding the brand and the second internal business strategy will focus on efficiency in the new division. The third strategy will focus on improving the products at the new division. The efficiency of the new division will be enhanced by using the latest information and technology. The Book It Program will be enhanced in all the company departments to provide better service. The HR (Human Resource) department will monitor all the Hr process such as hiring, staffing, training, compensating employees with an aim of getting the desired results at the new division. The metrics that will be used to measure the internal business strategies will include the introduction of new process at the new division and a reduction in the employee turnover rate at the division (Kaplan,Norton & Rugelsjoen,2010) .4.0 Learning and Growth (Employee) Perspective
The new division will adopt three major strategies in a bid to promote learning and growth at the new division. The strategies that will be adopted include the training of employees on the new program, promoting of innovation on how to use the Book It! program and increasing the levels of the division’s capability.
Book IT ! will be implemented by educators, and it will help the teachers to log in the reading duration and to offer rewards to the children. The teachers and the students will not incur any costs because Pizza Hut will support the entire programs. The parent will purchase the program using coupons will be given free training on how to use the coupons. All educators in the country will access the program, and it will be supplementary and voluntary for them. Strong training and continuous improvement programs will be introduced to help in improving on the areas that are weak. Further, recognition and reward programs will be established to promote the learning and growth section of the balanced score card. The metrics for the learning and growth strategies will be a reduction in the employee turnover at the company and the introduction of the new process and products at the new division (Kaplan, Norton & Rugelsjoen, 2010).The balanced scorecard in summarized in the table below.
5.0 Communication Plan
The purpose of the communications plan will be to communicate the company’s strategist objectives that will be divided into four major categories namely: Financial, customer, internal perspective and learning and development objectives. The target people for the communication will be parents who purchase pizza for the kids at the Pizza Hut and the kids who love pizza. The channels that will be used to communicate the company's strategic objectives will be Broadcast channels such as the TV. The reasons as to why broadcast channels will be used are six, and the first one is that the broadcast channels are flexible and convenient (Kaplan, Norton & Rugelsjoen, 2010). The broadcast channels will reach a lot of people in the target audience because they are popular and spread messages very fast. The broadcast channels use more than one approach and as such they combine audio text and video components when passing a message. The broadcast channels have a strong impact on the target audience due to the visual and audio components. Accordingly, the target audience will be persuaded due to the combination of color, sound, and motion (Kaplan, Norton & Rugelsjoen, 2010). The broadcast channels have a mass coverage because they can be accessed easily even by poor households. Further, the broadcast channels have the capability to pass a message to the large audience at the same time, therefore; it will be economical for the company. Additionally, the broadcast channels have multisensory appeal on the target audience and as such will pass the company’s message more appropriately than any other channel (Chavan, 2009).
Chavan, M. (2009). The balanced scorecard: a new challenge. Journal of management development, 28(5), 393-406.
Kaplan, R. S., Norton, D. P., & Rugelsjoen, B. (2010). Managing the alliances with the balanced scorecard. Harvard Business Review, 88(1), 114-120.