Question
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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