BUSINESS SERVICES BALANCED SCORECARD – FY13

Penn Bookstore

Why are we here? What's the purpose? / Mission Statement:
To be a source for books and materials that support the academic mission of the University; to distribute merchandise that promotes the University’s brand identity; and to provide a facility that serves as a place of gathering for the campus community.
What do we want to become? Where do we want to go? / Vision Statement
To be the Penn community’s preferred gathering place and retail destination for goods and services.

Please complete matrix below:

Category / Strategic Objectives
(Broad Goals) / What ACTIVITIES (initiatives) should we engage in this year to achieve our goal? / What should the target MEASURE be? / Type
Lag/Lead / FY13
Budget / FY12
Forecast 3
Financial($$)
What are your financial objectives with respect to achieving the vision? / Maximize Operating Margin
Increase Sales Volume / Re-envision space planning to optimize $ per square foot revenues.
Active outreach to faculty and coordinators regarding adoptions. Promotion of rental as a retention strategy. Increase awareness of custom publishing.
Core trade book business planned in concert with B&N corporate retail. Augment B&N corporate strategy with local interest, faculty author and school-based recommendation. Focus on seasonal titles (e.g. travel); increase bargain and gifts for readers. Introduce new photo essay.
Penn will be one of 50 B&N stores with dedicated corporate analyst planners.
Strengthen clothing co-branded merchandising. Active outreach for promotional campaigns including $ off.
Marketing of Starbucks loyalty card. Raise awareness of lunch specials—communicate via social media strategy. / $ Operating margin
$ Gross Sales Retail (0.7% or $106kincrease)
$ Textbook Sales (5.6% or $22k increase)
$ New Textbooks
$ Used Textbooks
$ Textbook Rentals
$ Digital Textbooks
$ Trade Sales (-8.7% or -$239k decrease)
$ General Merchandise Sales (4.4% or $317k increase)
$Clothing
$Gifts
$Cafe Sales (1.5% or $7k increase) / Lag
Lag
Lag
Lag
Lag
Lag
Lag
Lag
Lead
Lead
Lag / $14,000M
$ 4,000M
$3,000M
$558K
$325K
$26K
$1,700M
$5,000M
$3,5000M
$872K
$300k / $14,000M
$4,,000M
$3,000M
$558K
$325K
$26K
$1,700M
$5,000M
$3,5000M
$872K
$300k
Customers/
Stakeholders
(Processes, products, service)
At what customer and/or stakeholder measures do you need to excel to produce the designed financial performance? / Build Customer Loyalty / Targeted point-of-sale and coupon efforts:
-New students – Penn Preview
-New students – NSO
-Graduating students
-Faculty & Staff
-Athletic events
Improve upon Social Networking site by promoting the bookstore FB page.
-All marketing media
-In store signage
-Weekly promotions on FB
Café frequent buyer program; crate “value meal” menu / # Coupon redeemed
(measured monthly)
# New friends
# Transactions (completed cards) / Lead
Lead
Lead / 5,000
1,000
1,200 / 4,200
1,285
1,525
Internal Business Process(Processes, products, service, technology)
At what internal processes must you excel in order to satisfy your customers?
/ Increase Web Utilization
Market, Develop and Promote Innovative services / Increase direct marketing efforts including list-serves
Utilization of web promo codes; pop-sales via social media
Marketing efforts for Buy-Back via:
–Student Portal
–College House mailbox stuffers
–DP advertising
–Final Exam classroom announcements
–Campus Express
–UA & GSAP Support
Companywide, we have experienced large decreases in Buyback, mainly due to the Textbook Rental program. FY12 we rented 1,945 more textbook units than the prior year. That’s nearly 2,000 fewer textbooks available in the Buyback market. / $ Website/merchandise mail-order sales(increase of 5%or $11,800)- (measured monthly)
$ Buy-back – Spring – i (measured semesterly)
$ Buy-back – Fall – i (measured semersterly) / Lag
Lag
Lag / $275,000
$75,000
$27,000 / $250k
Learning
and
Growth
(People, technology training, internal communication, internal support))
What must you do to develop internal resources in order to excel at these processes?
/ Develop Employee Service Delivery / Penn team/B&N store management team to meet monthly as a means of sharing ideas/brainstorming
Work with Wharton Baker Retail Group to research consumer preferences and space utilization of the facility relative to strategic business planning. / # Monthly Meetings / Lead / 12 / 10