Beruflich Dokumente
Kultur Dokumente
Submitted by
GROUP 4
Ashwini G. Bhat DeblinaDutta CydwelMascarenhas Ravi Kiran RizwanHabib Roma Priyanka SubinMammen
Primary Value : The needs of the patient come first Mission : Mayo Clinic will provide the best care to every patient every day through integrated clinical practice, education, and research
Vision : Mayo Clinic will be the premier patient-centered academic medical organization Satisfy
The Strategy Map and Balanced Scorecard are based on the interrelation of four specific perspectives of your business: financial, customer, internal process, and learning and growth. The financial perspective describes the traditional strategic objectives in financial terms, such as return on investment, revenues, profitability and cost. The customer perspective defines the value proposition the organization intends to use to generate sales and loyalty from targeted customers. The internal process perspective identifies the critical few processes that create and deliver the customer value proposition. The learning and growth perspective identifies the human capital and organizational climate needed to support the internal processes. The Balanced Scorecard is developed through the Strategy Map.
DEVELOPING SOPs AND PROTOCOLS MAINTAINING OPERATIONAL EXCELLENCE IMPROVE RESOURCE UTILIZATION, REDUCE COSTS AND PROVIDE HIGH QUALITY
HAVE THE RIGHT PEOPLE IN THE RIGHT PLACES AT THE RIGHT TIME
IMPROVING DIVERSITY
Perspective Customer
Measuring
How do we know we are meeting our customers needs?
Potential Measures
Customer Satisfaction Customer retention Quality Reputation Number of Tests Complaints Revenue Net Income Expenses Profit as % of sales Revenue from new tests Reimbursement Rate Amount to be ploughed in Test Turnaround Time Number of events and number of errors Number of Revised Reports Space Utilization New Tests Introduced Waste Reduction Regulatory Audit Results
Financial
How will we satisfy both our customers and our financial needs?
Employee Retention Turnover Employee Satisfaction Education/training events Continuous improvement projects Research Projects Peer reviewed articles IT improvements
COMPARISON WITH FLIPKART Flipkart is an e-commerce business, and the strategies to make the business model work changes drastically, as the focus changes. Compared to the traditional model of bookstores, where people physically go the store and search through the shelves, in an e-commerce model, the main interface is the website. Thus, a user-friendly and secure web interface becomes important. Another important aspect of e-commerce business is the supply chain logistics involved in delivery of goods and services. Also, compared to traditional outlets, there is no investment in terms of physical space. Thus, in order to compare Mayo Clinic and Flipkart business models, a strategy map and Balanced Score card is drawn for Flipkart. Flipkart strategy map is prepared for 2007, when the company began its operations and where it currently stands, along with what it envisages for the future are drawn. Also, notable differences within its strategy map as the company has grown are also observed. FLIPKART It was a humble beginning for two former software developers for Amazon.com who set out in 2007 to beat their one-time employer at its own game long before Amazon entered India. Flipkart is now arguably the countrys largest and most exciting ecommerce company. It employs 4,500 people and will grow to 5,000 people by March next year. The website offers 11.5 million book titles, apart from products across 11 other categories such as mobile phones,
computers, cameras, music and home appliances. It claims to ship more than 30,000 items per day across categories. The company is not yet profitable, but reported revenues at Rs. 50 crore for the last financial year ended March 2011. It projects an unbelievably spectacular jump to Rs. 600 crore in revenues by March next.Flipkart began with selling books, since books are easy to procure, target market which reads books is in abundance, books provide more margin, are easy to pack and deliver, do not get damaged in transit and most importantly books are not very expensive, so the amount of money a customer has to spend to try out one's service for one time is very minimal. Flipkart sold only books for the first two years. Flipkart started with the consignment model (procurement based on demand) i.e. they had ties with 2 distributors in Bangalore, whenever a customer ordered a book, they used to personally procure the book from the dealer, pack the book in their office and then courier the same. In the initial months the founder's personal cell numbers used to be the customer support numbers. So, in the start they tried their best to provide good service, focus on the website - easy to browse and order and hassle-free, and strove hard to resolve any customer issues. Since there were not any established players in the market, this allowed them a lot of space to grow, and they did in fact grew very rapidly. Flipkart had a revenue of 4 crore in FY 2008 - 2009, 20 crore in FY 2009 - 2010, 75 crore in FY 2010 - 2011, and the revenue for FY 2011 - 2012 which ends on 31 Mar 2012 is expected to be 500 crore. This is indeed a massive growth. The company targets revenues of 5000 crore by 2015. THE FACTORS THAT LEAD TO THE GRAND SUCCESS OF FLIPKART: 1) They always strove to provide great customer service. Flipkart customers are more happy than with some of their competitors like Tradus.in, Indiaplaza.com; i have myself experienced this a couple of times. 2) Their website is great, easy to use, easy to browse through the products, add products to wishlist or to a cart, get product reviews and opinions, pre-order products, make payments using different methods, in short hassle- free and convenient.
3) A very important point is that they introduced the option of cash on delivery and card on delivery. This way people demonstrated more confidence in buying products online. Although today Flipkart sells 20 products/min and has a massive customer base, still more than 60% of the Flipkart's customers use Cash on Delivery and card on delivery methods. This is because of two reasons, one is many people do not know how to make payments online. And secondly people do not have immense trust in e-commerce in India. Flipkart also provides a 30 day replacement guarantee on its products and EMI options to its customers for making payments. 4) Flipkart's reason of success is that it has a great customer retention rate, it has around 15 lac individual customers and more than 70% customers are repeat customers i.e. they shop various times each year. The company targets to have a customer base of 1 crore by 2015.
OBJECTIVES Profitabilit y Increased revenue Customer satisfaction Repeat customers Lifetime value of a customer Shopping duration Improve stock movement Outbound logistics
INITIATIVES Optimize value chain Sourcing partners Quality management Customer loyalty programs
Customer
Internal
New/total customers % New vs returning customers Average order per customer Customer ranking Inventory turns per year Delivery time
Learning
Training participation % Training Investment Factor Training Assistance utilization Employee Turnover
40% per year 10% per year 5% reduction per year 10% per year