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Balanced Scorecard for Telecom Industry

Extracts from this document...

Introduction

Table of Contents 1.0. Introduction 3 1.1. Background 3 1.2. Balanced Scorecard 4 1.3. Aim of the Research Study 6 1.4. The Telecom Sector in Pakistan 7 2.0. Structure of Thesis 9 3.0. Literature Review 10 4.0. Theoretical Framework 16 4.1. Financial 18 4.2. Customer 19 4.3. Internal Business Process 19 4.4. Learning & Growth 20 5.0. Data Collection 21 6.0. Findings & Analysis 22 6.1. UFONE 22 6.1.1. Company Introduction 22 6.1.2. Company Interview 23 6.1.3. Balanced Scorecard for Ufone 24 Table 1: Balanced Scorecard for UFONE 25 6.2. TELENOR 26 6.2.1. Company Introduction 26 6.2.2. Company Interview 28 6.2.3. Balanced Scorecard for Telenor 29 Table 2: Balanced Scorecard for Telenor 29 6.3. MOBILINK 30 6.3.1. Company Introduction 30 6.3.2. Company Interview 31 6.3.3. Balanced Scorecard for Mobilink 32 Table 3: Balanced Scorecard for Mobilink 32 6.4. WARID 33 6.4.1. Company Introduction 34 6.4.2. Company Interview 35 Rewards are performance based.6.4.3. Balanced Scorecard for Warid 36 Table 4: Balanced Scorecard for Warid 36 6.5. TELECOM INDUSTRY 37 6.5.1. Industry Stage of Life Cycle 37 6.5.2. Financial Perspective 37 6.5.3. Customer Perspective 39 6.5.4. Internal Business Process Perspective 40 6.5.5. Learning & Growth Perspective 41 6.5.6. Balanced Scorecard for the Telecom Industry 42 7.0. Recommendations 44 8.0. Conclusion 45 9.0 Limitations 46 References 47 Appendix 51 Exhibit 1: The BSC as a Strategic Framework for Action 51 Exhibit 2: The BSC provides a Framework to translate a Strategy into Operational Terms 53 Exhibit 3: Teledensity of WLL/ Cellular/ Fixed Sector 54 Exhibit 4: Cellular Subscribers Growth 54 Exhibit 5: Foreign Direct Investment in Telecom Sector 55 Exhibit 6: Financial Themes 55 Exhibit 7: Market Share of Telecom Operators 56 Exhibit 8: Subscriber Mix (Dec 2009) 56 Exhibit 9: Questionnaire for Interview 57 1.0. Introduction This section pertains to the mild introduction of the Balanced Scorecard concept as explained by the original authors Kaplan and Norton; its significance in today's world of business and the importance of using this tool in the Telecom Sector of Pakistan. ...read more.

Middle

It is their valued customers that bring success to the company which is why it has focused on the tagline 'Ufone, it's all about you!' Ufone's marketing strategy involves a humorous advertisement that has become its signature, but some may say it is unethical as it directly hits its competitors. In its efforts to increase its out reach for a larger customer base and provide an efficient customer service to its existing customers, Ufone has 200+ sales and customer service centers across Pakistan. Ufone is also planning to expand its existing coverage to new cities, enabling it to reach untapped markets. Ufone offers both, prepaid and postpaid services, though its postpaid service is not as popular as Mobilink "Indigo". It has activated international roaming on all its prepaid services for free for over 30 countries and is strategizing to cater for international roaming to some more countries. Ufone is a leader in Value Added Service, and has been constantly introducing innovative services to maintain its leadership position. Ufone offers its customers virtual private network, which enable the customers to make their own private network within their Ufone network. And like all cellular operators, Ufone also provides GPRS. 6.1.2. Company Interview The major points that the company official relayed to the group were as follows: * The telecom industry is almost at the mature stage; since there has been around 60% penetration rate of the total population. * Average Revenue per User (ARPU) would increase with the introduction of 3G technology from a current of Rs.220 (Average Revenue per subscriber per month) to Rs. 1800 for 3G technology. * Customer retention is more important than customer acquisition, since the former is less costly to the company; and with an industry churn of 24% it is important to retain the customers. * Ufone focuses highly on the Value Added Services (VAS); and considers 'Caller Back Ring Tone (CRBT)', Internet and Call Block VAS as the highest revenue providers. ...read more.

Conclusion

8.0. Conclusion The research and analysis concludes that one of the best and way forward for the telecom companies of Pakistan to succeed and raise their performance levels is through the implementation of the Balanced Scorecard. This tool will not only help managers keep track of their goals and objectives but also increase profitability by translating their strategies into measurable and achievable goals that are also known by the operational level managers. The Balanced Scorecard may not be well known at present in Pakistan, but some corporations have already started looking into this tool that has gripped the West with interest. The tool would allow companies, to take the whole organization together, and not one department at a time. The strategies at the top cascade down to the operational level and are translated into actionable objectives. Various measures ensure that the workforce knows how far their actual results are from the expected results, and hence proper feedback keeps them on track. The telecom sector reaching the mature stage, would require this tool since they need to decrease their operational costs and improve efficiency and performance, which can be achieved through a Balanced Scorecard. 9.0 Limitations There were a number of limitations that hindered the progress of the research. Foremost was the limited amount of information available on this topic, especially for the telecom sector. In Pakistan, there has not been any research done on this topic whatsoever, thus, finding primary help was another impediment. Moreover, the primary data consisted of interviews with limited number of employees of a company, maximum two employees, which again made it difficult to get complete access to all the strategies used by these companies. Along with this, the companies also were hesitant in sharing information related to some of their strategies and targets for the year. Most of the employees we interviewed worked at the operational level therefore most of them were not aware of the concept of the balanced score card. Timely access to information was another major issue as the officials of different companies would take time in replying to our queries. ...read more.

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