Assignment Sample on Financial Performance Management
1. Introduction
Present report will provide an outline regarding two organizations; one is ASDA and the other one is its competitor Morrisons. Presentation of two organizations and criteria will be used for identification of competitors. Evaluation and critical discussion after using the ratio analysis technique for evaluation of the financial performance of two organizations will be done. Profitability analysis of Morrisons and ASDA will be done in this study in order to compare major factors of revenue generation between two organizations. An analysis of financial performance will be done based on the data that are being collected after conducting the profitability analysis. Liquidity analysis of Morrisons and ASDA will be discussed in this study for the conduction of an effective and conclusive financial statement.
Evaluation of Kaplan and Norton’s balanced scorecard will be done in this study to achieve an idea about financial strategic planning of ASDA and Morrisons. Financial aspects of both organizations will be briefly discussed while conducting the study. Stakeholders’ performances will be determined properly while conducting the study about profits of two top brands in the UK’s retail industry. Customer strategic planning for both ASDA and Morrisons will be discussed in this study with the help of Kaplan and Norton’s balanced scorecard model. Perspective of customers regarding both brands will be discussed and effect that is provided by customers to determine profitability will be discussed. Internal business strategic plan will be conducted to minimize the issue of low profits for ASDA. A growth and learning plan will be provided for brands to gain a better competitive strength in the market.
2. Financial performance using ratio analysis
Financial performance analysis
Profitability analysis of ASDA and Morrison plc
Profitability analysis of ASDA plc concentrated on opening profit margin, return on assets and net margin ratio analysis. Operating profit of ASDA plc along with its financial strength has decreased to 2.55% in the financial year 2019 (ASDA annual report, 2019). The net margin of ASDA plc is decreased in the year 2019 and, as a result, the overall stability of its business performance is reduced in the year 2019. Novak et al. (2019) stated that an organization’s financial accounts are dependent on its profitability, as various things need to be changed to furnish proper growth of that organization. Operating profit and a net margin of Morrisons plc decreased in the financial year 2019 by 2.44 and 1.96%, respectively (Morrison’s annual report, 2019). [Referred to Appendix 1 and 2]
Liquidity analysis of ASDA and Morrisons plc
Liquidity analysis of ASDA and Morrisons plc is conducted with current ratio and quick ratio analysis for the financial years 2018 and 2019, respectively, as various data derived from the annual reports of both the companies makes the financial statement of the company effective and conclusive. Current assets of ASDA plc increased to €4754 million in the financial year 2019 (Morrison’s annual report, 2019). Financial aspects of the company are clearly observed in the perspiration through utilizing various financial aspects of the company. Sukhari and Villiers (2019) stated that the financial aspects of a company could be properly maintained through sustainable performance analysis of that company. As stated by the inventors of ASDA plc, it is increased to €4690 million in the financial year 2018 along with maintaining various policies of the financial aspects of the company. [Referred to Appendix 1 and 2]
Financial aspects of the company can be properly evaluated in making financial growth in the year 2019 as well as maintaining various policies, which can be implemented in making effective implementation on its business policies. As narrated by Kim and Im (2018), the financial growth and sustainable performance of an organization are dependent on the financial aspects of a company along with various key constraints of that company. As a result, current liabilities of ASDA plc is increased to €3354 million in the year 2019 as it has to incur several expenses in that year for implementing its business policies (ASDA annual report, 2019).
Comparative evaluation of financial performances
Comparative profitability of ASDA and Morrisons plc
Operating profit margin of ASDA plc is increased in the financial year 2018 with comparison to the financial profitability of Morrisons plc along with expanding the business growth of the company. In the year 2019, the operating profit of ASDA plc was lower compared to Morrisons plc along with losses in other financial aspects (Morrison’s annual report, 2019). As stated by Sofian and Dumitru (2017), the profitability of a firm is associated with furnishing several aspects of business strategy, and it can be evaluated through analysing proper financial aspects of its company. Return on assets is decreased in the financial year 2019, that of Morrisons plc which makes several decreases in the financial aspects of the company. Return on assets increased in the financial year 2019 to 4.15%, which makes growth in its financial aspects. [Referred to Appendix 1 and 2]
Comparative liquidity of ASDA and Morrisons plc
The current ratio of ASDA plc is better than that of Morrisons plc, as it has concentrated on the financial aspects of its company through satisfying various market demands in 2019. Inventories of ASDA plc are lower than that of Morrisons in the year 2019 as various expenditures incurred through maintaining working expenses. Zavadskas et al. (2018) stated that liquidity ratio analysis helps in evaluating sustainable performances of a firm and its effectiveness can be easily maintained through proper challenges and implementing certain policies. Quick ratio is 1.37 times greater than that of Morrisons plc as it concentrates on various sustainability performances to increase its financial positions in the year 2019. Both the liquidity ratio as current ratio and liquid ratio are better than that of Morrisons plc, as it has to incur several policies in maintaining growth. [Referred to Appendix 1 and 2]
3. Balanced scorecard
Evaluation of Kaplan and Norton’s balanced scorecard
Financial strategic plan
Kaplan and Norton’s balanced scorecard model is described as specific growth of the organization and maintaining sustainable performances of the organizations. Strategic plans have been implemented by this model to furnish sustainability in their financial performances of the organizations. As narrated by Venter et al. (2017), strategic financial plan of an organization is concentrated on the financial aspects of the organization through maintaining sustainable performance of that organization. Kaplan and Nortis’s model facilitates furnishing proper financial strategy of an organization through identifying the stakeholder’s key operations and its key activities into that organization. Stakeholder’s performance in an organization is one of the most important aspects of this model, and through implementing this model; stakeholder’s interest within the company can be evaluated. Therefore, the strategic financial plan of this model can create a sustainable performance of the organizations.
Customer strategic plan
Kaplan and Norton’s balanced scorecard model identifies the effective aspects of the company through visualizing the key factors of a company through customer’s perspective along with maintaining a sustainable relationship with its customers. Strategic growth of a company can be furnished through identifying proper and healthy relationships with its customers as it makes a sustainable relationship of the financial relationship of the customers. As narrated by Garcia-Sanchez et al. (2020), a customer’s perspective is among the most important aspects of a company and can be effectively implemented through this strategic model. Customer’s strategic model had focused on the financial aspects of the company through which the effectiveness of the company can be maintained. The main perspective of a business can be properly evaluated by identifying the fundamental growths through visualizing customer’s thoughts about the company.
Internal business strategic plan
Internal business policies of Kaplan and Norton’s balanced scorecard model are contaminated with sudden policies of the marketing strategies of an organization through which the sudden growth of an organization can be observed. Various policies regarding the strategic business of a firm can be effectively furnished through utilizing the fundamental rights of the firms. As stated by Guo and Wang (2019), the internal business of a firm can be implemented as well as the growth of the business can be furnished through effective allocation of the policies within the firm. As this model can be applied in making a proper collection of the financial data of a business, it makes a proper allocation of the fundamental rights of the company. Growth of the company can be furnished through effectively using this model along with making proper concentration of the valuable policies of the firm.
Learning and growth strategic plan
Learning and growth strategic plan of this model makes proper improvement in furnishing the increment in the financial policies of its business as well as incurring proper financial aspects of its company. Business’s processes are considered as one of the most important features in furnishing effective valuation policies to the company. Growth strategic plan of a company can be effectively implemented through using proper aspects of its business as well as allocating learning outcomes of the company. As viewed by Kim and Im (2018), the fundamental rights of an organization can be achieved through implementing proper learning tools and policies into that company. As a result, the overall growth of the company can be earnestly implemented through using sustainability performance methods in these strategic policies. Learning and growth strategic model increases the efficiency of the consumers through using various systemic tools in its organization’s module.
Proposed balanced scorecard
Financial perspective
Financial perspective is considered as one of the most important critical success factors of ASDA plc, which can be evaluated in the balanced scorecard of the company. A balanced scorecard from the customer’s perspective visualized that the company starts its business in meeting their fundamental aspects of the company as various domestic expenses can be easily recovered through using this scientific model of assets valuation. As opined by Kim and Im (2017), the financial perspective of the balanced scorecard is associated with several planning policies, which can be implemented through the fundamental analysis of the balanced scorecard of ASDA plc. Various changes in the financial aspects of the company are contaminated as it is furnishing several key aspects of the company through proper orientation policies. An effective scorecard can be produced through maintaining critical success factors of ASDA plc. [Referred to Appendix 2]
Internal perspective
Critical success factor of ASDA plc can be illustrated as internal perspective is considered as one of the most important aspects of the company. In preparation for the scorecard of the company, various changes in the internal policies have been observed in making a balanced scorecard. As narrated by Komar et al. (2018), the financial strengths of a company can be effectively classified as one of the most important factors in its business. Thus, the fundamental aspects of a company cannot be effectively maintained without practicing policies of the company. Various policies of the company are associated with the internal policies of ASDA plc as an increase in the financial aspects is visualized in the year 2020 and 2019. Internal factors of ASDA plc make proper evaluation of the financial aspects of the company, which is evaluated in making a balanced scorecard of ASDA plc. [Referred to Appendix 2]
| Financial | Targeted Month | Month | Target | Yield | |
| Metric | Description | ||||
| Average Sales | $54.00 | 74 | 69 | $ 36.00 | |
| Performance | $47.00 | 25 | 65 | $ 25.00 | |
| Customer | $25.00 | 21 | 21 | $ 65.00 | |
| Output metric | Description | ||||
| Growth | $98.00 | 36 | 36 | $ 36.00 | |
| Validity | $74.00 | 54 | 32 | $ 32.00 | |
| Longevity | $25.00 | 84 | 95 | $ 14.00 | |
| Process | $87.00 | 41 | 41 | $ 16.00 | |
| Output metric | Description | ||||
| Scrap | $54.00 | 42 | 25 | $ 65.00 | |
| Policy | $74.00 | 15 | 36 | $ 52.00 | |
| Implementation | $74.00 | 36 | 25 | $ 54.00 | |
| People | |||||
| Output metric | Description | $47.00 | 21 | 32 | $ 54.00 |
Table 1: Proposed balanced scorecard
(Source: MS Excel)
Customers’ perspective
Customer perspective of making a proposed balanced scorecard within the company makes a great impact as various terms and policies can be evaluated. Customer perspective, such as various policies, which are implemented in attracting the customers into the organization, can be effectively summarized. As opined by Malafronte and Pereira (2020), the scorecard of a company cannot be properly evaluated through a sustainable performance of that company and makes proper financial strategy of that company. As a result, it is concentrated in evaluating proper financial aspects of the company through satisfying sustainable performances of an organisation as collection data appraisal, ASDA plc is concentrated on various factors, which can be effectively evaluated in making financial strategy of the company along with proper financial support of that company. Various strategic aspects of the company make proper utilization of the fundamental aspects of ASDA plc. [Referred to Appendix 2]
Learning and growth perspective
Learning and growth perspective simultaneously makes a great affect in preparing a balanced scorecard of ASDA plc as various data have been presented in this report to make sustainable performances of the company along with making longevity in its financial aspects. As opined by Manes-Rossi (2018), scorecard of a company can be effectively prepared through utilising the financial aspects of the company along with making financial aspects of that company. As a result, the scorecard of ASDA plc can be effectively prepared through utilization of the financial structure of the company. [Referred to Appendix 2]
4. Integrated reporting (IR)
Benefits of adopting integrated reporting
Integrated management
IR associated with making the management effective through implementing various policies of the marketing structure as well as cheating proper regulating frameworks to the organization. As opined by Al-Hafiz et al. (2017), it helps in making the management appropriate for making proper financial scenarios of the company. International integration helps in maintaining the proper structure of the financial aspects of their company through identifying the gaps of the financial aspects of the company. Integrated management is considered one of the most important benefits of integrating management through which the financial stability of a company can be managed as IR furnishes systematic growth of the organization through identifying the defects of the reporting policies of the organizations.
Establishes corporate reputation
IR deals with various policies, rules and regulations of the firm, as it is associated with the top-level management of the organization. Various systematic reforms can be clarified through implementing the integrating reporting in an organization, which establishes a corporate reputation for the company along with furnishing enormous growth of that company. As narrated by Atrill and McLaney (2018), the financial stability of a company is associated with various policies of the financial aspects of the company as several fundamental growths of a company can be furnished through implementing and integrating reporting policies. As a result, the corporation reputation for a company can be established through using interrogated reporting techniques of integrated international reporting.
Increases interests of stakeholders in reporting
Financial reporting statements are summarized with all financial aspects of a company and sustainable performance analysis of a company through using various tools and techniques. The fundamentals of a company can be improved through implementing proper financial techniques and reporting techniques into the company. As viewed by Bernardi and Stark (2018), stakeholders are the main internal viewer of the company as they are continuously seeking opportunities to furnish its overall growth. Stakeholders are seeking opportunities to find proper aspects of a company through implementing key policies. As a result, integrated reporting can be effective in increasing the interests of the stakeholders. International integrated reporting helps to identify the policies, which can be effective in furnishing the systematic growth of the company through using various aspects of the company.
The appropriate evaluation of business performance
Integrated reporting enhances the financial performances of an organization through implementing sudden aspects of the company as it increases the growth of the company as well as systemic reform into the organization. The proper and appropriate evaluation of the financial aspects of the company can be made through effective use of the financial performance of the company. Business performance can be improved through integrated reporting, as it is concentrated on the overall growth of the aspects of the company. As opined by Bhasin (2017), the business performances of an organization are associated with the several plans and policies of that organization as integrated international reporting derives various policies, which can be implemented in the integrated policies of a firm for building sustainable growth of those organizations.
Challenges of adopting integrated reporting
Adaptation of IR
Adaptation of IR creates various problems in the total reporting systems of the company as it conflicts with the fundamental reporting system of the company. Various things need to be rectified in implementing IR policies into the firm as it takes sudden areas that have to be solved. As viewed by Buitendag et al. (2017), various problems arose in adapting the IR systems into an organization, as specific changes have to be made in building the reporting systems effective with its implemented model. As companies are connected with the various plans and policies, which cannot be by providing short notice as it decreases the motivations of implementing fundamental policies into the organizations. International integrated reporting is associated with several key factors as it can be changed through implementing the financial position of the company, which creates challenges for a company.
Implementation of IR
Implementation of IR is considered the toughest challenge for an organization as several things cannot be changed by providing short notice at a time along with identifying the key aspects of the company. As IR is contaminated with various processes, techniques, methods and systems, the implementation of IR cannot effectively proceed in every organization. As opined by Busco et al. (2017), implementation of IR is considered as one of the most important effects of the financial aspects of the company, along with implementing various strategic growth of the company. Systematic growth of the organization is associated with several implementations of the fundamental aspects of the company as well as implementing the fundamental aspects of the company. Thus, implementation of IR is considered the most important aspects, which cannot be effectively implied in the financial growth of the company.
Performance appraisal of a company
IR is considered with various aspects of the company along with implementing various policies of the organizations, as it does not properly evaluate financial aspects of the company. Performance appraisal of a company cannot be successfully implemented through using IR methods and technologies of a company. As opined by Cooper et al. (2019), performance appraisal of a company cannot be visualized without analysing the effective growth of the company as it can be contaminated with various policies of the company. International integrated reporting introduces various rules and regulation through which the measurement of the financial performance of a company can be done, as it is not possible for a company to know about the employee’s efficiency through IR. Thus, it creates several problems in implementing IR into an organization.
Decreases simplicity within the organization
IR is considered as one of the complicated reporting policies of a company that cannot be effectively applied in every organization as the lack of efficiency of the managers. As opined by Cosmulese et al. (2019), the simplicity of an organization is the most important thing for an organization that must have to be maintained. As integrated international reporting is associated with several plans and policies, it creates complexity in applying IR to the organisations.
5. Conclusion
Based on the above discussion it can be concluded that financial and internal perspective of organizations is most important factors for the growth of brands. Evaluation of company scorecard is beneficial for both ASDA and Morrisons to meet their personal aim. Integrated management needs to be done by ASDA in order to meet requirements of customers and earn a higher level of standard in UK. Corporate Reputation of the organization is a necessary criterion for ASDA to earn a better position above its major competitor Morrisons. Interests of stakeholders need to be maintained effectively by ASDA with the help of a financial strategic plan. Performance of all stakeholders can be boosted once proper financial management is conducted by finance manager of ASDA.
Customer strategic model helps to conduct a strategic plan for management of customers and meet the basic requirements of customers. A business strategic plan once made internally can be used by management of organization to earn a respectable performance in market. Growth can be achieved by ASDA by maintaining a financial perspective and considering critical success factors. It can be concluded that longevity, output metric, policy, and implementation are the major factors that help to earn more success. Total revenue earned after selling products to customers annually is a great source that gives ASDA an idea about a proper technique that can be implemented in future. Finally, it can be considered that constant learning and growth strategies can be beneficial for ASDA to generate more annual revenue compared to its competitor Morrisons.
Reference list
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Appendices
Appendix 1: Profitability and Liquidity analysis of ASDA plc
| ASDA PLC | ||
| Profitability Ratio | 2019 | 2018 |
| Operating profit | 584.20 | 803.20 |
| Revenue | 22,899.20 | 21,457.75 |
| Operating profit margin (%) | 2.55% | 3.74% |
| Profitability Ratios | 2019 | 2018 |
| Net Profit | 475.74 | 457.52 |
| Revenue | 22,899.20 | 21,457.75 |
| Net margin (%) | 2.08% | 2.13% |
| Profitability Ratios | 2019 | 2018 |
| Net Profit | 475.74 | 457.52 |
| Total Assets | 11,457.00 | 10,547.35 |
| Return on Assets (%) | 4.15% | 4.34% |
| Liquidity Ratios | 2019 | 2018 |
| Current Assets | 4,754.00 | 4,125.00 |
| Current Liabilities | 3,354.00 | 3,698.00 |
| Current Ratio | 1.42 | 1.12 |
| Liquidity Ratios | 2019 | 2018 |
| Current Assets | 4,754.00 | 4,125.00 |
| Inventories | 150.00 | 174.00 |
| Current Assets – Trade | 4,604.00 | 3,951.00 |
| Current Liabilities | 3,354.00 | 3,698.00 |
| Quick Ratio | 1.37 | 1.07 |
(Source: MS Excel)
Appendix 2: Profitability and liquidity analysis of Morrisons plc
| Morrisons PLC | ||
| Profitability Ratio | 2019 | 2018 |
| Operating profit | 432.00 | 458.00 |
| Revenue | 17,735.00 | 17,262.00 |
| Operating profit margin (%) | 2.44% | 2.65% |
| Profitability Ratios | 2029 | 2018 |
| Net Profit | 347.25 | 457.10 |
| Revenue | 17,735.00 | 17,262.00 |
| Net margin (%) | 1.96% | 2.65% |
| Profitability Ratios | 2019 | 2018 |
| Net Profit | 347.25 | 457.10 |
| Total Assets | 10,666.00 | 10,462.00 |
| Return on Assets (%) | 3.26% | 4.37% |
| Liquidity Ratios | 2019 | 2018 |
| Current Assets | 1,379.00 | 1,279.00 |
| Current Liabilities | 3,349.00 | 3,089.00 |
| Current Ratio | 0.41 | 0.41 |
| Liquidity Ratios | 2019 | 2018 |
| Current Assets | 1,379.00 | 1,279.00 |
| Inventories | 713.00 | 686.00 |
| Current Assets – Trade | 344.00 | 247.00 |
| Current Liabilities | 3,349.00 | 3,089.00 |
| Quick Ratio | 0.10 | 0.08 |
(Source: MS Excel)
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