Balanced Scorecard Summary
As we continue to drive Peloton towards success, it is paramount that we align our efforts through strategic objectives and metrics that will guide us in achieving our goals for Peloton. After careful consideration, the following objectives and metrics have been identified as crucial for Peloton’s balanced scorecard:
Financial Objectives:
The objectives listed, such as diversifying revenue streams and increasing profitability, are essential for Peloton’s growth strategy. By setting specific targets like generating 15% of total revenue from new products within 18 months, we aim to enhance our financial performance and ensure long-term sustainability and give our #1 competitor Life Fitness some fierce competition. (2024). Nasdaq.com.
Customer Objectives:
To expand our market reach and enhance brand reputation, we will focus on boosting social media engagement and improving customer satisfaction. Achieving a 30% increase in social media engagement over the next 12 months and enhancing our Net Promoter Score to 70 by year-end will strengthen our relationship with customers and drive loyalty. Dupre, E. (2017, June 23).
Internal Business Process Objectives:
Efficient diversification and operational automation are key to improving our internal processes. Setting targets such as achieving a 96% on-time delivery rate within the next year and automating 50% of routine operational processes within 12 months will enhance our operational efficiency and effectiveness. This approach diversifies the company’s revenue streams and enhances brand visibility and accessibility. Top 10 Peloton Competitors In 2020 – What Competitors. (n.d.).
Learning and Growth Objectives:
Investing in our employees’ skills and promoting career development is crucial for Peloton’s success. By increasing the internal promotion rate to 20% annually and improving employee satisfaction scores to 85% in the annual survey, we will foster a culture of learning, growth, and inclusion within the organization. Thomas, L. (2022, July 6). Inc, J. (n.d.). Peloton
It is imperative that we remain focused on these objectives and metrics to drive Peloton forward. I am confident that with our collective efforts, we will achieve our strategic goals and position Peloton as a leader in the industry.
References
Dupre, E. (2017, June 23). 5 ways peloton is pedaling towards a better customer experience. DMNews. https://www.dmnews.com/5-ways-peloton-is-pedaling-towards-a-better-customer-experience/
Inc, J. (n.d.). Peloton. JobzMall. Retrieved June 14, 2024, from https://www.jobzmall.com/peloton/faqs/what-kinds-of-diversity-initiatives-are-in-place-at-peloton
Peloton’s performance: Earnings gears and future frontiers. (2024). Nasdaq.com. https://www.nasdaq.com/articles/pelotons-performance:-earnings-gears-and-future-frontiers
Peloton®. (n.d.). Stronger together. Peloton®. https://careers.onepeloton.com/en/working-at-peloton/dei/
Thomas, L. (2022, July 6). Peloton sweetens employee pay incentives as it fights to boost morale and stage a turnaround. CNBC. https://www.cnbc.com/2022/07/06/peloton-sweetens-employee-pay-incentives-as-it-fights-to-boost-morale.html
Top 10 Peloton Competitors In 2020 – What Competitors. (n.d.). Whatcompetitors.com. https://whatcompetitors.com/peloton/
Do you need help with this assignment or any other? We got you! Place your order and leave the rest to our experts.