SANTA ASSIGNMENT

Pallabi Roy (35) Pranjal Yadav (37) Rudra Prasad Banerjee (43) Sherin S Mathews (49) Sohini Banerjee (52) Srijan Sinha (53) Supratim Datta (55)

ASSIGNMENT QUESTION: Santa and his elves are tired and looking for retirement, so they want to professionalize their business. What would you suggest? Use the balanced scorecard model.

Santa Claus, also known as Saint Nicholas, Father Christmas and simply "Santa", is a figure with legendary, mythical, historical and folkloric origins who, in many western cultures, is said to bring gifts to the homes of the good children during the late evening and overnight hours of Christmas Eve, December 24. Santa Claus is generally depicted as a portly, joyous, white-bearded mansometimes with spectacles wearing a red coat with white collar and cuffs, white-cuffed red trousers, and black leather belt and boots (images of him rarely have a beard with no moustache). According to a tradition which can be traced to the 1820s, Santa Claus lives at the North Pole, with a large number of magical elves, and nine (originally eight) flying reindeer. Since the 20th century, in an idea popularized by the 1934 song "Santa Claus Is Coming to Town", Santa Claus has been believed to make a list of children throughout the world, categorizing them according to their behavior ("naughty" or "nice") and to deliver presents, including toys, and candy to all of the well-behaved children in the world, and sometimes coal to the naughty children, on the single night of Christmas Eve. He accomplishes this feat with the aid of the elves who make the toys in the workshop and the reindeer who pull his sleigh.

The broad activities which the organization needs to take care of are: 1. Develop a vision and mission statement It is necessary to communicate the vision and mission to all the stakeholders 2. Resource planning To make a list of raw material, labour skills, inventory, processes etc to be used for the operations of the company 3. Strategic HR activities Includes training, compensation etc 4. Fund management

The process which is followed by Santa is as follows:

Make a database of children who need to be given gifts

Read the children's demands

Start production of the gifts

Plan the distribution route

Distribute the gifts before Christmas

Balanced Scorecard: The Balanced Scorecard was developed by Kaplan & Norton, 1996 and provided the ideal system that leverages the traditional financial and efficiency measures that were available for Human Resources with metrics of performance from three additional perspectives namely, customers, internal business processes, and learning and growth. It is a mechanism which gives feedback which can help to continuously improve strategic performance of an organisation. The perspectives which are addressed by this scorecard are: Financial perspective Strategic perspective Customer perspective Operational perspective

Operational perspective: The factors which are taken into account for this perspective are To decide on a layout in order to carry out production efficiently Production process to be employed, how to reduce the cycle time for manufacturing Quality inspection of the finished goods Inventory management Where to store the produced goods and for how long Set up of children database to make a list about who needs to be gifted To plan a distribution route To decide on the medium of transport which minimizes cost and time 2

Customer Perspective: To keep childrens excited and meeting their expectations. To keep a track of childrens expectation To rev up advertisement during later phase of December to keep up the excitement. Work on a cost effective measure to meet and exceed the expectation. Work on a feedback system to improve the services in the coming years. Classify the children according to their age groups and give gifts as per the age.

Financial Perspective: How to make the business profitable Recruit elves at a lower cost: New recruits should be done in an efficient manner. Raise low cost funds: One of the main objectives Is to raise low cost funds for the gifts provided. Increase turnover: To gain advantage of economies of scale Accounting and auditing of internal processes: In order to avoid fraud and mismanagement Prepare financial statements: This is done to keep a track of daily business situation and immediate decision making ROI in people: To have an estimate of the efficient use of funds invested in the workforce Risk management: To keep track of the riskiness of the business deals

Strategic perspective: To develop an overall business strategy Integrated shared vision and goals: The main vision of the company is to have a shared vision of childrens satisfaction. Childrens needs and satisfaction: The satisfaction level of children needs to be addressed by surveying through interview methods,etc HR capabilities: The overall strategy of the firm is to have appropriate employees who would understand the childrens perspective of Santa and their expectations from him. Cost benefit analysis: The meeting of childrens demand should be made by making a proper cost benefit analysis. Retention of employees: The employees retention should be maximized by maintaining a good work environment and providing them with the benefits for their children