DSW Balanced Scorecard
Executive Summary
DSW (Designer Shoe Warehouse) has had an increase of 11.5% in sales during the 2012 fiscal year. This is due to an increase in customer sales, “conversion and average unit retail.” (www.dsw.com, 2013) However, in 2012 there was a decrease in the company’s merchandise margin rate due to poor sales.
DSW’s has its strategic plan to ensure continual growth within the company such as: purchasing $72 million dollars worth of office space to utilize and almost $100 million dollars in capital ventures that consisted of opening 39 new shoe and accessory stores, a new and improved reconfiguration center and several store remodels.
In February 2013, DSW maintained 364 stores throughout the United States and Puerto Rico, as well as serviced customers who live outside of the United States by conveniently providing online shopping through our website, DSW.com. In addition, we renamed our business division namely the “Affiliated Business Group” to attract interest of business partners.
History
DSW was established on January 20, 1961, yet opened its first store in Dublin, Ohio in 1991. Years later, DSW was bought by another company, in 2008. In 2005, the company went public selling shares at $19.00 per share gaining $16.2 million dollars. In May 2011, DSW merged with RVI.
The Scorecard
DSW’s balance scorecard is a performance management tool that is developed to strategically to improve and manage DSW’s retail stores and website of shoes and accessories through the following:
· Pricing
· Customer sales
· Increase customer satisfaction while retaining loyal customers
· Maintain or decrease operating expenses
· Increase top sales of three vendors
· Provide employee training
· Attract qualified employees
· Retain current qualified executives and employees.
With the shift of business moving from the industrial age to the information/technology age, the importance of a company’s
DSW (Designer Shoe Warehouse) has had an increase of 11.5% in sales during the 2012 fiscal year. This is due to an increase in customer sales, “conversion and average unit retail.” (www.dsw.com, 2013) However, in 2012 there was a decrease in the company’s merchandise margin rate due to poor sales.
DSW’s has its strategic plan to ensure continual growth within the company such as: purchasing $72 million dollars worth of office space to utilize and almost $100 million dollars in capital ventures that consisted of opening 39 new shoe and accessory stores, a new and improved reconfiguration center and several store remodels.
In February 2013, DSW maintained 364 stores throughout the United States and Puerto Rico, as well as serviced customers who live outside of the United States by conveniently providing online shopping through our website, DSW.com. In addition, we renamed our business division namely the “Affiliated Business Group” to attract interest of business partners.
History
DSW was established on January 20, 1961, yet opened its first store in Dublin, Ohio in 1991. Years later, DSW was bought by another company, in 2008. In 2005, the company went public selling shares at $19.00 per share gaining $16.2 million dollars. In May 2011, DSW merged with RVI.
The Scorecard
DSW’s balance scorecard is a performance management tool that is developed to strategically to improve and manage DSW’s retail stores and website of shoes and accessories through the following:
· Pricing
· Customer sales
· Increase customer satisfaction while retaining loyal customers
· Maintain or decrease operating expenses
· Increase top sales of three vendors
· Provide employee training
· Attract qualified employees
· Retain current qualified executives and employees.
With the shift of business moving from the industrial age to the information/technology age, the importance of a company’s
References: DSW Inc, Investor Information. Retrieved September 6, 2013. http://investors.dswshoe.com/investor-information Investopedia, Solvency. Retrieved September 8, 2013. http://www.investopedia.com/terms/s/solvency.asp