Measure: Set deadlines for when staff need to complete the training.

A target: set a target score for staff to reach on the training questions

Initiative: Staff can be rewarded the more training they complete via promotions and career progression within the company

Target: double revenue by 20X7

Initiative: Train salespeople and improve communication within team to avoid loss of customers and attract new customers

Measure: Customer experience questionnaire

Target: customer score out of 10 on several factors, target 8/10

Initiative: Customers gain a reward/discount when questionnaire is completed, plus staff members gain reward/day off for the most customer questionnaires completed by their own sales

Measure: non-renewals

target < 5%

Develop loyalty program and ensure sales team communicates any discounts available to customers upon renewal

Measure - % upgraded over time and whether it's on track to meet that date

Target - an achievable date by which all personal computers should be upgraded, depending on available IT resource, number of computers to upgrade, supply chain availability. Also target productivity improvements once upgrade complete.

An initiative - consider wiping and donating old pcs to a local school or charity.

Measure: IT Department to log how many computers are left to change via a IT tracking system

Target: Aim to replace 5 computers a week (depending on size / quantity of computers to replace)

Initiative: Staff satisfaction will increase with better working equipment

Measure: Monitor the percentage of customers who move to a new insurance provider after their policy comes to an end across all types of insurance types.

Target: based on 23/24 customer loss rate being 15%, a realistic target for the following financial year may be 7.5% (50% reduction based on historic)

Initiative: another discount could be applied for returning customers but this time emphasis on advertising this to the consumer would need to be more prominent and direct as well as improved internal communication to the staff members show will be able to apply this to the customer

Measure - increase returning customer from 2x03

Target - retail 50% of customers from previous year

Initiative - Better use of discount scheme

Costly to implement all these initiatives, which may also detract from the financial objective.

Measure: Measure revenues in each department monthly & quarterly to then analyse the weaker areas that need support

Target: set realistic targets for each year, quarter and month. then analyse to see which months and quarters of the year have higher revenues and find the drivers behind this

Initiative: Reward / discounts / day off for employees or departments who provide more revenue and revenue support for lower revenue areas

initiative: Upsell to existing customers and prevent customer loss .

Measure: for a bespoke training course created for CCC which all staff would be required to complete, a pass score would need to be set and then a measurement of percentage of passes could be monitored. Those that did not achieve a pass would be required to do a refresher training and then the retake pass rate could also be measured

Target: 80% pass rate on first attempt of training questions, 100% pass rate of retake of training questions

Initiative: a voucher could be awarded for all first time passes of the training, special recognition could be given to the team member who achieves the highest score

Measure: Qualifications staff posses

Target: Improve current qualifications in staff with additional training annually & improve recruitment so all new staff have at least the minimum acceptable amount

Initiative: Staff development & they have improved prospective for promotion.

2) The scope of the BSC is vast and can be time consuming and costly to explore and maintain across the whole business. Often many staff will be required to input and this could take their focus and time away from other activities in the business that immediately generate and sustain value

Another is that it can force management to spend time evaluating all areas, even if in some situations they should be focused on a specific issue over the whole rest of the balanced scorecard

Measure: Increase dividends paid out annually

Target: Increase dividends from 5% from last year

Initiative: Bonuses for staff that meet sales targets