We-Linc is a social media and networking platform designed and managed by We-Linc Ltd. The platform helps users to connect with people who have similar interests or backgrounds. It also enables users to create and share videos and interesting articles. The platform was developed seven years ago, and it had gained a lot of popularity within a year of its inception. In the first five years of its existence, We-Linc’s revenues were increasing by 15% every year. However, during the past two years its revenues have been decreasing by 10% every year. The primary source of its revenue is online advertisements sponsored by various businesses. We-Linc’s revenues have slowed down because of the increase in competition in social media and social networking platforms. Hence, the executive board of We-Linc. is considering venturing into new avenues to handle the recent decline in revenues and to kick-start growth. Based on feasibility, the company will invest in one or more of the avenues listed below:
• Developing a We-Linc mobile application that is accessible via smart phone.
• Launching an instant messaging software application that is accessible via smart phone.
• Extending the usage of this platform to those countries where it is not used. We-Linc’s management currently follows a control technique that anticipates the performance of new avenues, compares it with the standards and then takes corrective action. However, the executive board is also considering other techniques to develop a more effective control system.

Required
1. For the benefit of the executive board, prepare a detailed report on the desirable features of a performance measurement system that should be used to measure We-Linc’s performance.
2. Identify some of the performance indicators that can be used to determine the accomplishments or failures of the existing social networking platform.
3. Consider the new investment options available for We-Linc and identify some of the performance indicators that can be used to determine the success or failure of the new investment options.
4. Discuss the lever of control that can be used by We-Linc to avoid tensions between strategic objectives that encourage creativity and innovation and the objectives that advocate a cautious risk management approach.