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Lucid Choice is a UK company specialising in producing and retailing health foods, dietary supplements and ethically sourced beauty products primarily through internet trading. Lucid

Lucid Choice is a UK company specialising in producing and retailing health foods, dietary supplements and ethically sourced beauty products primarily through internet trading. Lucid Choice is currently reviewing its results for the year ending 31 December 2021 in the form of a balanced scorecard as detailed below.

Objectives

Measures

Target

Performance

Actual

Performance

Financial perspective

Increase shareholder value

Operating income changes from productivity

Operating income changes from growth

Increase in revenue from new customer acquisition

1,200,000

500,000

350,000

1,000,000

560,000

385,000

Customer perspective

Increase customer satisfaction

Increase customer acquisition

Positive customer service reviews

New customers acquired through community health promotion campaigns

85%

20,000

87%

12,200

Internal business perspective

Develop innovative health food products

Develop ethically sourced, zero-waste beauty products

Increase use of recycled materials

Number of new health food products

Number of new zero-waste beauty products

Recycled materials used as a percentage of total packaging materials used

10

12

25%

7

15

28%

Learning-and-growth perspective

Increase employee product knowledge

Increase management diversity

Establish and monitor employee participation at regular team meetings for sharing ideas and reviewing operations and new product development

Increase number of women and people of minority ethnic background as a percentage of management

75% attendance

30%

70% attendance

28%

The management of Lucid Choice are keen to expand their range of key performance indicators (KPIs), particularly in the area of environmental and social performance.

Required

Critically discuss the development of sustainability-related KPIs to promote Lucid Choices progress in terms of environmental and ethical dimensions and make suggestions for improvement.

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