QUESTION 70 Christian Paige is the Chief Executive Officer of a motor car insurance company, YouMe Inc. Paige, together with the Board of Directors, developed a mission statement in 2019 following a detailed analysis of the company's operations and market place. The mission statement states that YouMe wants to continually grow through its commitment to quality and delivering value to its customers. YouMe has developed a complementary vision statement which aspires to: . Provide superior returns to our shareholders . Continually improve our business processes Delight our customers Learn from our mistakes and work smarter in the future YouMe's overriding objective, also developed in 2019, is to double the size of its revenue by the end of 2024. Poor customer service has led to YouMe losing 15% of its customers in 2019/2020. Paige has identified the following areas of concern: The customer sales manager had sponsored an initiative to reward customers with a discount if they renewed their motor insurance. However, most of the sales executives were not familiar with the details of this scheme and did not mention it to customers considering renewing their insurance. The discount scheme had not affected the rate of loss of customers, The average age of YouMe's personal computers (PCs) was five years. There have been many complaints from YouMe's staff that their PCs are not adequate for the demands of 2020. The last time an initiative had been undertaken to bring PCs up to date was in 2017, Vaud Antrintars buditar barandad nararREA FA in thran Honsente in 2016. The found An Ast in Paige has identified the following areas of concern: The customer sales manager had sponsored an initiative to reward customers with a its customers in 2019/2020 discount if they renewed their motor Insurance. However, most of the sales executives were not familiar with the details of this scheme and did not mention it to customers considering renewing their insurance. The discount scheme had not affected the rate of loss of customers. The average age of YouMe's personal computers (PCs) was five years. There have been many complaints from YouMe's staff that their PCs are not adequate for the demands of 2020. The last time an initiative had been undertaken to bring PCs up to date was in 2017 - YouMe's internal auditors had conducted performance reviews in three departments during 2019. They found a common pattern in all three departments: many of the staff had only minimal educational qualifications which were inadequate for the jobs they were doing. This resulted in an unacceptable level of errors being made. No initiatives had been undertaken to address this problem Investors have been critical of the low dividend yield on their YouMe shares. Paige is worried because, despite the time and effort put into the development of the mission and Vision statements and the overriding objective, YouMe is not making sufficient progress towards achieving its revenue target. Its revenue growth rate in 2019 was 10% YouMe's shortfall against its revenue target was discussed at a recent Board meeting. The Corporate Affairs Director stated that the Board is 100% behind our strategy and vision but it's just not happening. I have experience in my previous company of working with an integrated model, the Balanced Scorecard, Could the Balanced Scorecard help YouMe REQUIRED: A. Explain how a Balance Scorecard (BSC) can assist You Me Inc. (3 marks) my Premos company of working with an integrated model, the Balanced Scorecard. Could the Balanced Scorecard help YouMe?" REQUIRED: A. Explain how a Balance Scorecard (BSC) can assist YouMe Inc. (3 marks) B. For each perspective of the Balance Scorecard (BSC), develop two measures suitable for YouMe Inc. (4 marks) C. Discuss three limitations of a Balance Scorecard (BSC). (3 marks) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI V S Paragraph Open Sans,s... V 10pt E E A
