Question

Question 5

• Time: 20 minutes
• Total: 10 mark

Canada’s Wonderland Inc. operates amusement parks similar to those such as Six Flags, Universal Studios, Disneyland etc. Canada Wonderland’s mission is to provide high quality family entertainment that exceed guests' expectations and will create lifelong memories. To achieve this goal, Wonderland strives to provide safe, clean, friendly family environments at reasonable prices. In addition to the amusement parks, the company operates a community outreach program. Through volunteerism, it offers educational and recreational programs (e.g. after school programs for children and teenagers, employment related training for adults) and special events at its facilities.

Wonderland's president, Jerry Maguire, has asked you to lead a team of employees in developing a balanced scorecard for its parks.

Required:

For each balanced scorecard perspective identify two measures of performance that relate to Wonderland's key success factors. Include targets and an explanation of why the metric is important. What strategy is Canada’s Wonderland following?

Answer 1

Answer:

Balanced Scorecard method takes into account both financial and non-financial issues into deliberation before arriving at a decision. It is one of the most effective calculated decision-making tools in the hands of corporate companies:

Now when bearing in mind the following balanced scorecard viewpoint with 2 key success factors:

1. Financial perspective:  

Pricing for weekday tickets and weekend/holiday tickets for customers

Profit volume ratio for the current year

2. Growth/ Learning perspective:

Number of volunteers applied and trained for recreational programs

Number of new event/service ideas/plans contributed by employees/volunteers and successfully implemented during the year

3. Internal business perspective:

The number of new joy rides/ special events held at its facility.

Number of employees/trainees resigned/ left during the year

Number of unhygienic complaints received from customers during the year

4. Customer perspective:

Increase in the name of customer visits during the Current year

Reduced prices or better offers on ticket prices offered to customers as compared to its competitors like Disney World

Quality of the services provided to customers.