Balanced scorecard, environmental, and social performance. Gardini Chocolates makes custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com- pany employs several chocolatiers who were trained in Germany. The company offers many varieties of chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients, such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi- ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. Target Performance Performance Actual Objectives Financial Perspective Measures Increase shareholder value Operating-income changes from price recovery Operating-income changes from growth Cost savings due to reduced packaging size $1,000,000 $1,500,000 $200,000 $250,000 $40,000 $50,000 Customer Perspective Increase market share Market share of overall candy bar market 8% 7,8% Increase the number of new Number of new product offerings 7 product offerings Increase customer acquisitions due to sustainability efforts Percentage of new customers surveyed who required recycled paper options 35% 40% Internal-Business-Process Perspective Average design time Internal quality rating (10-point scale) Reduce time to customer 3 days 3 days Increase quality 7 points 8 points Increase use of recycled Recycled materials used as a percentage of total materials used materials 30% 32% Learning-and-Growth Perspective Increase number of professional chocolatiers Number of chocolatiers 6. Increase number of women and minorities in the workforce Percentage of women and minorities in the workforce 40% 38%
Balanced scorecard, environmental, and social performance. Gardini Chocolates makes custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com- pany employs several chocolatiers who were trained in Germany. The company offers many varieties of chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients, such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi- ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For brevity, the initiatives taken under each objective are omitted. Target Performance Performance Actual Objectives Financial Perspective Measures Increase shareholder value Operating-income changes from price recovery Operating-income changes from growth Cost savings due to reduced packaging size $1,000,000 $1,500,000 $200,000 $250,000 $40,000 $50,000 Customer Perspective Increase market share Market share of overall candy bar market 8% 7,8% Increase the number of new Number of new product offerings 7 product offerings Increase customer acquisitions due to sustainability efforts Percentage of new customers surveyed who required recycled paper options 35% 40% Internal-Business-Process Perspective Average design time Internal quality rating (10-point scale) Reduce time to customer 3 days 3 days Increase quality 7 points 8 points Increase use of recycled Recycled materials used as a percentage of total materials used materials 30% 32% Learning-and-Growth Perspective Increase number of professional chocolatiers Number of chocolatiers 6. Increase number of women and minorities in the workforce Percentage of women and minorities in the workforce 40% 38%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Q.Would you have included some measure of customer satisfaction in the customer perspective? Are these objectives critical to Gardini for implementing its strategy? Why or why not? Explain briefly.
Transcribed Image Text:Balanced scorecard, environmental, and social performance. Gardini Chocolates makes
custom-labeled, high-quality, specialty candy bars for special events and advertising purposes. The com-
pany employs several chocolatiers who were trained in Germany. The company offers many varieties of
chocolate, including milk, semi-sweet, white, and dark chocolate. It also offers a variety of ingredients,
such as coffee, berries, and fresh mint. The real appeal for the company's product, however, is its custom
labeling. Customers can order labels for special occasions (for example, wedding invitation labels) or busi-
ness purposes (for example, business card labels). The company's balanced scorecard for 2017 follows. For
brevity, the initiatives taken under each objective are omitted.
Target
Performance Performance
Actual
Objectives
Financial Perspective
Measures
Increase shareholder value
Operating-income changes from
price recovery
Operating-income changes from
growth
Cost savings due to reduced
packaging size
$1,000,000
$1,500,000
$200,000
$250,000
$40,000
$50,000
Customer Perspective
Increase market share
Market share of overall candy bar
market
8%
7,8%
Increase the number of new
Number of new product offerings
7
product offerings
Increase customer acquisitions
due to sustainability efforts
Percentage of new customers
surveyed who required recycled
paper options
35%
40%
Internal-Business-Process Perspective
Average design time
Internal quality rating (10-point
scale)
Reduce time to customer
3 days
3 days
Increase quality
7 points
8 points
Increase use of recycled
Recycled materials used as a
percentage of total materials used
materials
30%
32%
Learning-and-Growth Perspective
Increase number of professional
chocolatiers
Number of chocolatiers
6.
Increase number of women and
minorities in the workforce
Percentage of women and
minorities in the workforce
40%
38%
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