Specific, Measurable, Actionable, Reliable and Time-bound quantitative measures like Key Performance Indicators can be used to evaluate the performance of various organizations. Each would have its own specific set of indicators. The progress of an organization operating in an Airlines Industry can be judged along a no. of dimensions. Some of them include-Financial perspective - This would help in judging whether the company has been able to match the revenues with the expenses it is incurring. The parameters would comprise of Revenues, Expenses, Profits and Fuel costsCustomer Perspective - Customers keep an eye on aspects like Charges, Types of meal offered and Baggage handling to decide on which brand flight would they boardFlight Operations - Measures available to be used are no. of Flights and Passengers, Time available for flying and Aircraft Utilization Service Indicators - No. of passenger seats occupied and partners in supply-chain would add to the efforts of organization for betterment of the service provided.
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
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Airlines Industry has been in news for long enough time in recent past but unfortunately for wrong reasons. This is due to it being one of the worst sufferers of the economic slowdown. The trouble finally fell on both the employees and customers. This was because airlines companies both handed over pink slips to the staff members and also raised the rates one needed to shell out for flying.
The fuel prices once started going north and declined to come back for months. This added to the already accumulating woes of flier organizations. Adoption of 'cost cutting' measures by airlines became a 'necessary evil' due to the unfortunate happenings.
However, with time the sudden disturbances have settled and the situation seems pretty much under control in present scenario thereby causing airlines organizations to heave a sigh of relief.
Such experiences highlight the dire need that exists for bringing proper management system into place. In this regard, Airlines scorecard is the thing to consult.
Due to the Airlines sector holding a significant position in the economy of any nation, distortion in this field was bound to leave 'negative imprints' on it and so did happen too. However, the governments have been trying hard to erase the marks and attempts have met considerable success.
This is the actual scorecard with Airlines Indicators and performance indicators. The performance indicators include: financial perspective, revenues, expenses, profits, fuel costs, customer perspective, types of cuisine offered, baggage rates, response time for queries, canceled flights, flight operations, flights, passengers, available flying time, aircraft utilization, service indicator, passenger seats occupied, freight and mail, no. of partners in supply-chain, no. of accidents .
Download a trial version of Airlines Estimation Balanced Scorecard or purchase a full version online.
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