2-2 Memo- Performance Evaluation

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Southern New Hampshire University *

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Apr 3, 2024

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To: TransGlobal Airlines Leadership Team From: Corinne Powell February 26, 2024 Performance Evaluation As we continue to navigate the ever-evolving landscape of the airline industry, it is imperative that we set clear strategic goals and establish key performance indicators (KPIs) to monitor our progress towards achieving these objectives. Below are the SMART goals along with corresponding KPIs for each component in a balanced scorecard: Financial: SMART Goal: Increase annual net income by 15% by the end of fiscal year 2025 through revenue optimization and cost management initiatives. Rationale: By increasing net income, we can ensure sustainable growth and strengthen our financial position, enabling us to reinvest in our operations and pursue strategic opportunities. KPI: Annual net income growth rate Internal Process: SMART Goal: Enhance operational efficiency by reducing turnaround time for aircraft maintenance and servicing by 10% within the next two years. Rationale: Improving operational efficiency will not only minimize downtime but also enhance customer satisfaction by ensuring timely departures and arrivals. KPI: Average turnaround time for aircraft maintenance

Customer: SMART Goal: Improve overall customer satisfaction score by 15% within the next three years through personalized service offerings and enhanced travel experiences. Rationale: Customer satisfaction is crucial for loyalty and retention. By focusing on improving customer experience, we can drive repeat business and attract new customers. KPI: Net Promoter Score (NPS) Learning and Development: SMART Goal: Achieve 100% completion rate for FAA's Safety Assurance System (SAS) training for all employees by the end of the next fiscal year. Rationale: Prioritizing employee training in safety protocols is essential for ensuring compliance and maintaining a culture of safety across the organization. KPI: SAS training completion rate Explanation of KPI Determination: The chosen KPIs align closely with the SMART goals and are measurable indicators of progress towards achieving these goals. As stated in Measuring Performance , "Measure what you want, not want what you can measure (Harvard, 2009)." This emphasizes the importance of selecting metrics that truly reflect the objectives and critical success factors of our organization. For instance, tracking the annual net income growth rate will provide insights into our financial performance and the effectiveness of our revenue and cost management strategies. Similarly, monitoring the average turnaround time for aircraft maintenance will help assess our progress in

enhancing operational efficiency. Likewise, measuring the Net Promoter Score (NPS) will provide valuable feedback on customer satisfaction levels, allowing us to identify areas for improvement in our service offerings. Finally, tracking the completion rate of FAA's SAS training will ensure that we prioritize learning and development initiatives aimed at enhancing safety standards within the organization. In conclusion, by setting SMART goals and establishing corresponding KPIs across financial, internal process, customer, and learning and development domains, we can effectively evaluate our performance and drive continuous improvement across all aspects of our business. Thank you for your attention to these critical matters. Should you have any questions or require further clarification, please do not hesitate to reach out. Sincerely, Corinne Powell TransGlobal Airlines

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References Harvard Business Review. (2009). Measuring Performance. Harvard Business Review Press.

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