- 20 Marks
SCS – L3 – Q40- Strategy, stakeholders and mission
Identify CSFs and KPIs for Vita Mart Ltd.'s objectives of customer loyalty and lower prices.
Question
(a) Vita Mart Ltd. is a large supermarket chain operating in six regions in Zamora. It is the vision of management to make Vita Mart a household name in Sub-Saharan Region within the next ten years. In its last management meeting, the following objectives were set in pursuant to its vision:
To ensure the loyalty of its customers – i.e. to generate lifetime loyalty.
To ensure its prices are at least 2 percent cheaper than the average of rival supermarkets – i.e. to create value for customers.
Required:
(i) Identify TWO critical success factors (CSFs) for each of the above objectives set by Vita Mart management.
(ii) In order to measure how well it is performing against the CSFs, the supermarket needs to set key performance indicators (KPIs). For each of the CSFs identified above, identify TWO KPIs to aid management in tracking the delivery of the CSFs.
(b)
Effective implementation of corporate strategies in an organization is largely dependent on how well organizational members understand the chosen strategies. However, the desirability of the direct announcement of a strategy depends on several factors.
Required:
Identify and explain FOUR factors that should be considered before choosing an approach to communicate corporate strategy in an organization. (c)
Protecting the physical environment by business organizations comes with costs that can be very significant to deal with. Notwithstanding, environmental protection will yield enormous long-term benefits for business organizations.
Required:
Explain TWO ways in which business and environmental benefits can be achieved.
Find Related Questions by Tags, levels, etc.
