Essay about Otago Museum

1225 Words Nov 11th, 2011 5 Pages
| OTAGO MUSEUM | Comprehensive Balance Scorecard | | | |

Hoi Yan Cheng 9552508
Yu Liu 9552762

BBUS 425 Advanced Management Accounting
Instructor: Tony Bell
Thompson Rivers University
Date: Feb 1st, 2011

MEMORANDUM

DATE: January 30, 2011
TO: Shimrath Paul, CEO of OTAGO MUSEUM
FROM: Chris Farry, CFO of OTAGO MUSEUM
-------------------------------------------------
RE: Analysis of Comprehensive Balance Scorecard for Otago Museum

It is a great pleasure to have the opportunity to work with you. According to your request, I have completed the design of the comprehensive Balance Scorecard (BSC) for our museum. The newly designed comprehensive Balance Scorecard (BSC) is divided into four sectors:
…show more content…
This would also initially retain our employees.
Measurement and Targets
For measurement, the ratio of trained employees to total number of employees, the percentage change of peer evaluation to the previous year, and the percentage change of supervisor evaluation of individual employees to the previous year can be accounted for when looking into the effectiveness of training program. The peer evaluation and the supervisor evaluation can be designed in a form of score card. A score card scores 100 marks as the highest total score with different segments and sub-segments. This scoring system serves as a bonus system and helps to identify quality employees in the organization. Well-performing employees are recognized under this system. The company can consider offering them bonuses as a retention strategy. On the other hand, the ratio of trained employees to total number of employees shows the proportion of the untrained employees. The goal is to maximize the number of trained employees so that each employee is able to serve our visitors at a professional standard. This will drive up overall customer satisfaction.

Internal Process
Objective
Employee engagement and service quality are considered under the internal process. As mentioned above, an effective training program enhances employee engagement to their jobs and inspires employees to provide a higher quality service to visitors. A guideline of “Behaviours Expected from Everyone”

Related Documents