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OVERVIEW The assignment requires you to prepare a Balanced Scorecard (BSC) or Myer as at 2016 and consider (i) what has changed in the BSC since 2010 and (ii) what will change in the BSC for 2020 with Amazon entering the retail market in Australia (see article on Amazon at the end of the assignment “Amazon’s entry puts big retailers at risk: Credit Suisse” David Rodgers, The Australian, March 20, 2017) Assignment Due Date: 16 April at 4pm Weighting: 15% (100 marks) Word Length: 1,500 words (with a 10% override) 1) ANALYSIS/REPORT TOTAL = 100 MARKS (15%) prepare a Balanced Scorecard that could have led to the much improved performance of Myer in 2016 (see article entitled “Myer doing better under CEO Richard Umbers”, David Walker, The Australian, 31 May 2016) as compared to the performance in 2010 (which was measured based on Article 3.1 published in 2010, and forward plan for 2020 for the entry of Amazon into retail in Australia. (a) Discuss what measures you have changed in the financial perspective and why you have changed them (i) for 2016 and (ii) what you expect to change for 2020. (Maximum 350 words) (20 marks) (b) Discuss what measures you have changed in the customer perspective and why you have changed them (i) for 2016 and (ii) what you expect to change for 2020. (Maximum 350 words) (20 marks) (c) Discuss what measures you have changed in the internal process perspective and why you have changed them (i) for 2016 and (ii) what you expect to change for 2020. (Maximum 350 words) (20 marks) (d) Discuss what measures you have changed in the learning and growth perspective and why you have changed them (i) for 2016 and (ii) what you expect to change for 2020. (Maximum 350 words) (20 marks) (e) Discuss possible dysfunctional consequences of the possible balanced scorecard for 2020. (Maximum 150 words) (10 marks) Written Communication and Presentation of Report (10 marks) Myer doing better under CEO Richard Umbers (article at back of assignment) DAVID WALKER The Australian, May 31, 2016 Question 3.10 Based on Reading 3.1, the following BSC assesses Myer Ltd’s performance. BSC quadrant Examples relating to Myer Ltd performance Financial perspective Weak performance overall, made up as follows: • lack of top-line growth • reliance on unsustainable cost cutting to improve profitability • lowest footprint expansion of any speciality or department store for the eight years ended 2008 • tripling of net profit growth since the sale to private equity investors in 2006 • declining share of retail sales (i.e. not growing as fast as industry) Customer perspective Weak performance overall, made up as follows: • 30% customer conversion rate (i.e. traffic through store to purchasers) below key department store competitor David Jones and significantly below 82% for Woolworths • declining share of retail sales • stocking of international and national brands • MYER one loyalty program growth—increase in sales through targeted offers Internal process perspective Medium performance overall, made up as follows: • use of buying power to negotiate lucrative deals from suppliers • cutting of cost base, reliance on cost cutting to improve profit • investment in supply chain and IT systems to get stock into stores more efficiently • focus on improved visual merchandising and layouts to better match customer movements Learning and growth perspective Medium performance overall, made up as follows: • opening of new stores over next five years • research of customer purchasing patterns • development of product association to grow sales (i.e. shirt and cufflinks/tie) • leveraging MYER one loyalty program and using data to develop tailored offerings Overall, Myer Ltd can be rated as having a weak to medium performance on the basis of this analysis. As Myer Ltd is a listed company on the Australian Securities Exchange, the weak financial performance has a high weighting in this overall assessment. A comprehensive reference list (see GBS Resource Bank – link available on L@G) – Ensure that this complies with the required format of a reference list – https://app.secure.griffith.edu.au/reference_tool/index-core.php In addition to the GBS Referencing Tool, you can also access an interactive Referencing Tool that looks at referencing styles, including: AGPS Harvard APA (American Psychological Association
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