Carnival Corporation & Plc (2010)

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already taken with operational measures on customer satisfaction, internal processes, and the corporation’s innovation and improvement activities…” (Wheelen et al., 2015, p.311). Those non-financial measures are the driving force for future financial performance. Carnival does need to make sure that it tailors the scorecard to its corporate strategy in order to improve its performance (Wheelen et al., 2015).

Alternative Recommendations

An alternative recommendation would be for Carnival to evaluate what it would like to use as steering controls. Steering controls are measures that predict the likely profitability because they measure variables that influence future profitability (Wheelen et al., 2015, p. 304). A good steering control for Carnival could be customer satisfaction. They can use an official index, such as the American Customer Satisfaction Index (ACSI), to measure the customer satisfaction among the corporation, not just Carnival Cruise Lines (Wheelen et al., 2015).

Conclusion

In conclusion, for Carnival Corporation to better forecast future needs, it should consider using the balanced scorecard approach to properly gage all financial and non-financial measures was at or above 50%, and the industry is projected to show continued growth (Keeffe et al., 2015). Knowing its key performance measures will ultimately help Carnival to extend its vision years into the future, and possibly ensure its future success.

References

Keefe, M. J., Ross III, J. K., Ross, S. K., Middlebrook, B. J., & Wheelen, T. L. (2015). Case 13: Carnival Corporation & plc (2010). In Strategic management and business policy: globalization, innovation, and sustainability (14th ed.). Upper Saddle River, NJ: Pearson.

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2015). Strategic management and business policy: globalization, innovation, and sustainability (14th ed.). Upper Saddle River, NJ: Pearson.