Yoga CitiZen Limited is a company which owns and operates yoga studios in the Yorkshire region. The company opened its yoga studio in Leeds city centre in 20X7 and has rapidly expanded over the past four years; Dynamic Gym now operates six yoga studios across the region. The company’s studios provide high-quality, sustainable equipment (e.g: ecological mats), a range of yoga classes (e.g. Vinyasa, Hatha, Meditation etc.) and personal trainer services. The company’s mission is ‘to provide simple, affordable and convenient yoga classes to empower people to live a healthy and active lifestyle’. Yoga CitiZen differs from other yoga studios in that its customers are not required to sign up to a lengthy contract; whereas the majority of other studios require customers to commit to an annual contract, Yoga CitiZen customers can pay on an ad hoc basis, or pay a weekly/monthly membership fee. Yoga CitiZen is unique in the UK, in that its studios are open 24 hours a day and 365 days a year for people to come and practice on their own, if they wish to do so. Since the company was established in 20X7 it has invested heavily in technology to ensure that its services are convenient and easy for customers to access. The technology includes an online customer management system, through which customers can join, book classes or cancel their membership in seconds, via phone, tablet or computer. The Directors of Yoga CitiZen currently measure each gym’s performance, and overall company performance, based on revenue growth, return on investment and overall profitability. The Directors are exploring the implementation of a Balanced Scorecard as a performance measurement system for Yoga CitiZen. Explain to the Directors the limitations of the company’s current approach to performance measurement and the advantages and disadvantages of adopting Balanced Scorecard.
Yoga CitiZen Limited is a company which owns and operates yoga studios in the Yorkshire region. The company opened its yoga studio in Leeds city centre in 20X7 and has rapidly expanded over the past four years; Dynamic Gym now operates six yoga studios across the region. The company’s studios provide high-quality, sustainable equipment (e.g: ecological mats), a range of yoga classes (e.g. Vinyasa, Hatha, Meditation etc.) and personal trainer services.
The company’s mission is ‘to provide simple, affordable and convenient yoga classes to empower people to live a healthy and active lifestyle’. Yoga CitiZen differs from other yoga studios in that its customers are not required to sign up to a lengthy contract; whereas the majority of other studios require customers to commit to an annual contract, Yoga CitiZen customers can pay on an ad hoc basis, or pay a weekly/monthly membership fee. Yoga CitiZen is unique in the UK, in that its studios are open 24 hours a day and 365 days a year for people to come and practice on their own, if they wish to do so. Since the company was established in 20X7 it has invested heavily in technology to ensure that its services are convenient and easy for customers to access. The technology includes an online customer management system, through which customers can join, book classes or cancel their membership in seconds, via phone, tablet or computer.
The Directors of Yoga CitiZen currently measure each gym’s performance, and overall company performance, based on revenue growth,
Step by step
Solved in 2 steps
