Performance Evaluation and Monitoring Report for Fast Trade Couriers

This report provides a comprehensive analysis of the business plan for Fast Trade Couriers, a courier service operating in Sydney. It reviews the completed business plan, focusing on its target market, marketing strategy, and financial information. The report outlines key performance objectives, including sales enhancement, customer base improvement, and maintaining customer relations. It details the use of SWOT analysis and market research for performance measurement and introduces a performance management system with acceptable levels, reporting timeframes, and benchmarking strategies. The report also identifies key stakeholders and discusses the strategic goals for business development, including expansion into regional NSW. The report uses the references of Landy, F., Zedeck, S., & Cleveland, J. (2017) and Jardioui, M., Garengo, P., & El Alami, S. (2017) to support the content of the report.

Running head: MONITOR PERFORMANCE 1
MONITOR PERFOMANCE
[Author]
[Institution]

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Essay
1. Review of completed business plan
The business plan was designed and developed for Fast Trade Couriers located
at 6 Hill Road, Sydney Olympic Park, NSW 2127. The business was started on 15th
January 2003 as public listed proprietary limited company. The key products and
services that company is offering involve pickup and delivery of medium sized packages
all through Sydney. The business plan for Fast Trade Couriers has proper information
for target market and marketing strategy with the consideration of strategic goals and
vision of organization. Moreover, the business plan has been developed by focusing on
the financial information of company and conducting the market research about the
demand of such services. The management is majorly targeting the region of Sydney
that involves residential customers.
The organization currently holds the 18% market share and looking for
improvement. The business plan will help to achieve that goal and by using information
about the competitors and utilization of marketing tactics. Additionally, the business plan
involves information about the delivery and pick up services with solution to possible
issues that can help to encourage the services standards of company. The business
plan also provided details for organizational structure and needs of staff members to
maintain the required services standards.
2. Key performance objectives
 Initiate delivery within local NSW in 12 months’ duration
 Enhance sales by 40% over the future three years
 Improvement in the customer base

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 To maintain positive relation with the existing customers
3. Test of performance measures
For measuring the effectives of organizational performance and development of
plan to meet the objectives, the SWOT and market research activities were used.
According to these tools, the current standards of services and issues have been
identified for improvement in the plan (Landy and et al., 2017). Through expanding each
of the company’s businesses, it will be accessing a gradual increase of 25% to the
company’s base of consumers.
4. Performance management system
a. Acceptable level: The acceptable level of planned objectives of business plan
involved achievement of 95% targets in the given time period. The financial
performance of organization need to be encouraged up to 22% and the rate of retention
has to be equivalent to 87%. In addition to this, possibility of quick expansion into
regions likes Wollongong, Newcastle and Central West of NSW. The acceptable
planned variance of this performance measurement system involves compliance with
the market opportunities and proper utilization of resources. Moreover, the organization
will pick-up and deliver small to bigger sized packages/parcels that has till maximum
120 kgs weight.
b. Timeframe for each report: The timeframe for developing and analyzing report will be
1 month. In this period of time the research and management team will focus in the
possibilities of actions and alternative plans to improve the market position of Fast
Trade Couriers. In order to attract new consumers, the company will carry out market

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research for conducting market research in order to reveal market research along with
small and medium size businesses within regional situations. These reports will be
completed within 20 days and forwarded for analysis which will take 10 days.
c. Benchmarking will be used: The benchmarking that will be used for developing the
plan and performance management of organization using the new business activities
will be focus on human resources, financial growth, technical advancement and meeting
the expectation level of customers in target areas. The collected data will be compared
with past performance to analyze the gaps in the services to develop the strategies that
can be beneficial for encouraging the performance in the future (Jardioui and et al.,
2017). The top management of organization will focus on the services as per the
industrial standards and evaluate the financial ratio with competitor organizations to
gain more knowledge about professional practices and achieve the results by setting
new standards.
d. Key stakeholders: The key stakeholders that will take active participation in
development of reports and performance management system are owner, employees,
customers and regulatory bodies of the particular region of Sydney. The strategic goal
of the company is to develop the business along with enhancing business profits for
over three years through expanding routes to encompass regional NSW.
The new marketing plan of the company is to contact the consumers those are lost
previously. By focusing on the needs and requirements of the identified stakeholders
the different reports will be developed The objective of the paper is to attract new
customers; the company will carry out market research in order to reveal new
consumers along with informing them of the impending entry within the region.

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REFERENCES
Landy, F., Zedeck, S., & Cleveland, J. (Eds.). (2017). Performance measurement and
theory (Vol. 25). Taylor & Francis.
Jardioui, M., Garengo, P., & El Alami, S. (2017, September). The Impact of
Organizational Culture on Performance Measurement System Design,
Implementation and Use: Evidence from Moroccan SMEs. In IFIP International
Conference on Advances in Production Management Systems (pp. 553-559).
Springer, Cham.

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APPENDIX 1: