The report is based on BMW which is a German Automobile Company and they are manufacture different designs of vehicles and motors for the clients. They are focus on satisfying their customers’ needs and wants so that they gain higher income and profitability in the large market place. KPI which is selected for the company is Revenue per client that is one of the easy methods for track and analyzes the company income level. This is necessary for a firm is to concentrate on develop and manufacture different types of vehicles based on KPIs which provide increased growth and development. In this report, BMW compares the KPI with other three companies such as Audi, Mercedes-Benz, and Volkswagen (Armenta, et. al., 2015).
This research aims to analyze the importance of KPIs for enhancing the growth of the BMW Company. It is required for BMW is to examine the key performance indicator which helps in focus on organization growth.
- What is the importance of KPIs for an organization?
- How KPIs help the company in achieving higher growth and profitability?
- What are the challenges of KPIs in the BMW?
- Critically compare different companies’ KPIs with BMW KPIs effectively?
- How BMW maintain and manage revenue per client as compared to other companies?
The research methodology is that process that describes the study of data and information and assists in processing the project in a better manner. It also helps in understanding the various facts and figures which is important for collecting data. This research has been concentrated on evaluating the extent of support which is offered to the BMW Company and it assists them in analyzing the KPIs importance in an organization. It is that method that is essential for collecting and gathering data that are required for developing the research. Along with this, various investigation methods assist in collecting the required data to gain information about KPIs and comparison with different other companies.
It is an effective method and tool which is mainly used to gather and collect required data which helps in developing a research project. In this, there are two types of approaches which include deductive and inductive. The deductive approach is involved while the beginning of the theory and formulates hypotheses from some of the major concepts and also helps in collecting relevant information to examine the hypotheses (BABU, et. al., 2017). On the other hand, the inductive approach represents the organized and systematic procedure which is collect and assembles meaningful judgment of the research properly. In this report, it is not required to do the inductive work and complete general methodology paper with the assistance of deductive, specifically analyze entire work.
In this research, an investigator has been sued deductive approach which helps in collecting accurate data for properly completing whole project.
It is that process that helps in collecting appropriate data for completing whole work and projects in a better manner. In this, financial statement analysis is a required procedure that assists in reviewing and examining an organization’s financial statement to develop better economical decisions to gain more income and revenue in future time. These statements involve balance sheet, statement of cash flows, income statement, notes to accounts, and statement of changes in equity. For this, both primary and secondary data collection has been used for gathering necessary information related to the financial statement (Ball, et. al., 2017). In this case, the BMW financial statement analysis the KPIs based on revenue and also compare this KPI with some other companies as well.
Financial statement analysis is a tool involving specific techniques for determining issues, risks, performance, prospects, and financial health of the company. It mainly assists in reviewing the financial ratios and other statements properly. It helps in getting the right choice of data collection method which helps in maintaining and managing information of the company effectively. Along with this, BMW analyses whole market areas where they can gain the attention of potential customers.
In this research, the BMW Company is selected along with its special interest. It is the German international organization that manufactures luxury vehicles and motorcycles. The company was established in the year of 1916 as a manufacturer of aircraft engines, which is produced from 1917 until 1918. The company’s main KPI is revenue which attracts a large number of customers. Most of the clients want an affordable rate of products and services and BMW offer such vehicles which are lie under their budget (Basjaruddin, et. al., 2017). The company headquarter is located in Munich and it produces the motor vehicles in Germany, China, Brazil, India, UK, and South Africa. It is considered as world-class companies which provide different motorcycles and branded vehicles to the potential clients.
A research problem is a statement about a specific area of concern, a situation to be improved, difficult to be reduced, and troubling the question which presents in the author’s literature. In this case, BMW needs to focus on the key performance indicator which helps them gain the attention of desired customers and analyze their preferences and choices in a better manner. The company requires understanding the importance of KPIs which is essential to the business goals and objectives as they keep objectives in front of the decision-making process. Along with this, it is required that company goals are well elaborated all around the organization so that when people know and such are responsible for their own KPIs, it make sure about the business overarching objectives in a proper manner.
Research questions are considered as an answerable inquiry into particular concerns and problems. It is the first phase in the research project which describes the investigation. The first question describes the significance of KPIs for the company which helps them in maintaining their business growth and properly enhance sales ratio. It is important for the firm is to focus on analyzing the importance of Key performance indicators which assists in acquiring growth and development in the large market place. The third question discusses the challenges which can be faced by BMW at the time of managing and maintaining the business operations (Birajdar, et. al., 2016). The fourth one helps in discuss the comparison of specific KPI of BMW with other companies KPIs in a proper way. The last question helps to describes how BMW effectively manages revenue per client and compares it with other chosen companies. KPIs refer to performance metrics that help in evaluating the success and growth of the company of the specific function or activity. Key performance indicators can apply to projects, products, programs, and different other initiatives. They can easily measure and evaluate the success of anything from sales objectives and goals to the social media metrics.
The structure of the research includes an introduction, controlling instruments assessment, qualitative company assessment, quantitative company assessment, and synthesis and conclusion. In this research, the deductive approach has been used for collecting accurate data and information. The primary and secondary sources of methods also used for completing the project.
The selected controlling instrument is KPIs which help in assessing and evaluating the company performance in a better manner. In this, I analyzed that key performance indicator assist in comparing the different companies’ growth and development level in the market place. My role is to provide employees’ affective responses and feedback daily. Throughout this evaluation period, the company manager gives their staff members proper support and assistance, counseling, and reviewing the performance problems and disciplinary and corrective activities. I mainly evaluate and assess BMW management and analyze the terms or conditions for better functioning. Along with this, it is essential for the firm is to compare its KPI which has been selected is Revenue per client with their other companies such as Audi, Mercedes-Benz, and Volkswagen.
The rapid modifications of the business environment needed from other companies undertaken to account for various factors and information that influence business functions and activities. Company managers must dedicate accurate attention to such alterations that will make them felt by changes. A controlling instrument is a common procedure that helps in controlling and managing all functions in the industry. BMW understands the control practically but controlling is helpful management and administration of business functions methods on the existing and control their elements in a better manner (Casini, 2016). Along with this, it is the system of rules and regulations which protects surprises and gives alert in the complex situation. BMW company mainly focuses on controlling systems which are determined as a combined tool of management which helps in making effective decisions regarding how to use KPIs and make a comparison of such key performance indicators with other organizations. Most of the time, the company are concentrate on revenue which are presents their image and brand position in the huge market area where they need to fix their prices and targeted specific groups of customers. For this, they can easily analyze and refer the choices in a better manner for further improvement in their current vehicles and motorcycle.
BMW uses Revenue per client KPI which helps them in uncovering the deficiencies and plan strategies for the main growth and development level. Examine and monitor the changes to the revenue per customer ratio also assist the company in evaluating which products and services produce the most income and revenue from the customers. Also, they are work on developing a stronger relationship with the customers to enhance the business operations and its functions. BMW use this KPI for increasing their customer base in the market place. It is mainly used by service providers that include telephone providers, cable organizations, and internet providers. It helps in measuring and evaluating companies uncover the deficiencies and plan tactics for increased development and growth (Trigell, et. al., 2017). It provides information and data to the company regarding how much income and revenue they gain from the customers or clients. It is also used to express revenue generated by the company based on per user. Along with this, it is the most useful method and tool for the BMW which generates income by selling subscription services and evaluate how robust the goods usage across the customer base (Inoue, et. al., 2015). The company uses social media which allows free access also the usage of revenue per user ratio. Since free and effective social media websites help in generating income with the assistance of ad sales, more users equal foot traffic to their sites that equates to the increased income from the ad space.
BMW uses the Revenue per Client (RPC) as an analytical tool as it helps them in evaluating and measuring how efficiently they use their employees an organization wants the highest ratio of revenue per employee possible as this is the increased ratio which indicates extreme productivity and profitability. For the automobile company, RPC is an important financial ratio that is measured by dividing the revenue which is generated for a particular period by the number of staff members in an organization. It also assists as an evaluation of average financial productivity for each employee of an organization. Revenue per client is that method that is considered as a financial metric and it is mainly used for the evaluation and assesses the company goals and targets effectively (Jacobs, et. al., 2017). Along with this, it helps in measure and evaluates the dollar amount which is generated by each staff member of an organization. The metric term assesses that how well an organization is capable of leverages its manpower to develop more income and revenue. It is mainly used for the human capital in which the employees work hard to reach potential objectives and goals.
The limitations of the Revenue Per client are that the company needs to effectively and properly analyze the whole system of income distribution where they are easily managed and maintain the business functions. This tool can be used for the peer comparison with the other companies working with the same type of business model and within a similar industry. Such a metric can be misleading and misinterpret in the case of such companies with increased employee chum rate during the period as it would end up wrongfully inflating the RPE ratio.
There are some pros and cons of the Revenue Per customer for the BMW Company that are described below:
The pros of the RPC are that it helps in easily calculate and measure the financial statement of an organization. Also, it assists BMW in analyzing their customers’ income level and according to this they provide and offer them their range of products which mostly attracts them. Moreover, it is the main role and duty of the company manager is to analyze the whole market place where they need to target their audience and evaluate the importance of RPC in the company. It assists in increasing the level of income which makes and develops an effective position in the huge market place. The company presents its vehicles and motorcycles among customers which gains the attention of current and new customers towards the services or facilities. For the BMW Company, RPC is always a valuable metric but it can be specifically helpful when it develops a mail plan and strategies (Jiang, et. al., 2016). It is required for the company is to focus on maintaining and managing business operations in an effective way. In addition to this, it helps in setting goals that inspire others as well and important to develop and create a connection to the set goals and target.
The cons of the RPC are that it is difficult for the company is to concentrate on the revenue daily which might create complexities for the finance manager. This will make problems and issues for the firm are to focus on maintaining and managing the business operations and also attract new customers in a better manner. Along with this, it is not possible for the BMW is to always gain high income and revenue which makes their business at the top position. It is required for the company is to examine the whole market place where they need to attract some new clients who are willing to purchase new vehicles of the new brand and offer them the best quality of facilities which provide a great experience to them. RPC is one specific KPI tool that helps BMW in measuring and evaluating the company performance in the current market area. Furthermore, it creates issues while the company compares its revenue with the other companies. The firm mainly focuses on external factors that directly affect the business functions and also need to concern about the operations which are conducted for the enhancement of income.
BMW is the international automobile industry which provides different types of vehicles and motorcycle to the customers at affordable in the large market place. Company analysis is that procedure that is carried by the investors to measure and evaluate securities, gather associated with the company services, vehicles, and facilities. To maintain good supply chain management, BMW maintains and manages a strong relationship with its suppliers. BMW uses the new and advanced technology which assists in allows the design, quality, and rate to the perspective customers. BMW has a good position in the large market place in terms of brand and gratitude aspects. BMW produces and manufactures motorcycles under the BMW Motorrad and plug-in-electric cars under the company sub-brands and “iPerformance” model designation within the daily BMW lineup (Jun, et. al., 2016). BMW’s goal is to gain high profitable and increase long term value by attracting customers. The mission of the company is to become the world’s largest leading provider of premium products and premium services for individual mobility.
In the current era, the automobile industry is an industry growing at a rapid pace today. Many companies are looking to have fuel efficiency due to increasing cost and value of the gasoline. BMW is considered as the ideal car for many families in the current time, from sports cars to luxury automobiles and even sport utility vehicles. BMW has the main goal of keeping its vehicles safe from such a person who drives them (Trigell, et. al., 2017). Active safety is primarily about control and manages things. BMW’s vision is to design and develop the innovative type of cars that attract some users and clients towards their effective services. Along with this, the company major risk which has been faced by them is huge competition, the similarity of products and services which create difficulty for the customers and risk of marketing new trends which need to be followed by the firm for the better functioning and operations. Moreover, it is important for an organization is to deal with such issues and problems that help gain high income and revenue in a better manner.
The automobile industry is the most complex business sectors in the international framework for analysis and evaluation. BMW faces major competition in the current market place which creates issues for them in providing services and new vehicles to the customers. The competitors of the company include Lexus, Mercedes Benz, Nissan Motor, Honda, Audi, Toyota, Volkswagen, and Fiat Chrysler Automobiles. BMW develops, produces, manufactures, and sells cars and motorcycles and spare parts and accessories all over the world. BMW uses innovative technology since the company was founded and innovation has been one of the major success and growth aspects for the BMW group. In the area of technologies and flexibility, they are capable to understand their desired and demonstrate how they can effectively contribute towards mobility and progress in different parts.
BMW offers unique brands and services which attract a huge number of clients. It is one of the leading manufactures and producers of automobiles and motorcycles and also provides exceptional monetary and flexibility facilities. There are various BMW products which include BMW, Mini, and Rolls Royce that are popular and famous in the market place. BMW has developed a company which provides a variety of goods and services to their customers. BMW Group not only lies in its products and technology but also the organization’s history. Recently, BMW Group operates and regulate their business with its 31 productions and assembly the services in more than 15 countries and at international sales network. It is considered as the world’s leading production and manufacturer of premium automobiles and motorcycles and providers of premium financial and mobility facilities (Kumar, et. al., 2016). The company development is based on analyzing customer’s demand and needs according to this they are fulfilling their requirements. For the development, BMW set trends in production technology and sustainability as an innovation leader with an intelligent material mix. At the same time, flexible and continuous optimization value chains ensure competitiveness effectively.
BMW serves and delivers purely as a status symbol for some, while for the other companies they are focus on the specific mantra which is “The Ultimate Driving Machine” and philosophy of increased reviving engines. With such thing keep in mind, some are not attracted to the BMW company brand just because they are manufacture great cars, but they attract them because of their way of doing work. Furthermore, there are different key competitors of BMW which include Daimler, Mercedes-Benz, Honda, Audi, Nissan Motor, Volkswagen, Toyota, and Fiat Chrysler. The company work on developing innovative and attractive products of vehicles that easily gain the attention of potential clients correctly. It is required for a firm is to focus on maintaining the business operations and its functions by attracting customers towards their vehicles and other motorcycles. Along with this, it is required for the company is to deal with arsing issues which might create problems in front of them.
BMW is one of the leading automobile companies in Germany which offers a different and innovative type of vehicle and motorcycles. They are providing the best quality based products and services which help them in increasing the growth and success of the company. For this, they are select Revenue per client KPI which assists them in enhancing the growth level of an organization. Moreover, it is important for the company is to focus on maintaining and managing business operations effectively to reach with desired goals and targets.
The assets, profits, and cash flow statement of the BMW show as an effective controller which helps them in increasing growth and goodwill in the company. In the year 2019, the BMW Group had a balance sheet of total around 228 billion which demonstrates the growth level of an organization as compared to other companies. Total assets of the BMW group from the fiscal year 2008 to the fiscal year 2019 are described, in 2015, the total asset amount is 172,174, in the year of 2016 total asset amount is 188,535, in 2017 assets around 195,506 and 2018 total asset around 208,938 (Mousavinejad, 2016). The company concentrates on gaining more income and revenue by developing and designing innovative products and services which attract new customers as well. With the help of analysis such as assets, profitability, and cash shows, BMW can easily analyze that how to apply the key controlling instrument which is used by the firm in a better manner.
The company also provides an affordable rate of products and services to the clients. There are different brands in which BMW is the unique brand that shows dedication to the driver and it is not just to build cars. Brand innovation creates and develops interest, sentiment, and adventures. BMW i is another brand that offers supportable, customer-oriented movement solutions without any loss. This product is electric vehicles that lead the way in optional drive trains, lightweight designs, and aerodynamics (Sullivan, et. al., 2016). BMW M stands for highly dynamic driving fascination and they deliver the best quality of vehicles and cars for their customers according to their needs and demand. MINI is straightforward, authentic, and sincere brands which provides an innovative vehicle to the customers and fulfill their requirements. This product balance originality and innovation with intelligence and offers an open stage for the people, design, and energetic urban lifestyle. MINI John Cooper Works stands for the authority with racing purebred and every JCW model is built for extraordinary performance and impress with special and valiant fashioning. These are the main products and services of the BMW which offer to the desired customers. BMW services are designed and developed for maximum customer orientation and complement the company’s innovative flexibility offerings.
Every product has its life cycle and it includes four stages which are introduction, growth, maturity, and decline phase. Every model of BMW experiences such as four stages. With the entry of new competitor products in the market place and the feedback of customers, any model of BMW would renew each year (Naito, et. al., 2018). In the introduction step, BMW introduces new and innovative vehicle which add special features. In the growth stage, the market knows about the new brand, and sells is begin to rise if customers like the product of BMW. The third stage is Maturity in which distribution channels are saturated with BMW vehicles and motorcycles. The last one is the Decline phase in which product sales start to fail under the influence of new brand competition. At this point, the company has decided how the product will be finished.
Business Plan for the next five year of the BMW Company
The business plan’s main aim is to outline and examine the business operations for the next five years of the company. BMW mainly launch their products and services in the new market place where they try to understand their client’s needs and requirements according to this they develop vehicles and add some features as well (Spicer, et. al., 2018). The business plan includes an overview of firm, vision, mission, objectives, products and services, SWOT analysis, marketing strategy, and budget.
Overview of the company:
BMW is an international automobile organization that delivers the best quality and featured vehicles and motorcycles for potential customers. The company was founded in the year of 1916 as a producer of the aircraft appliances manufactured from 1917 till 1918. Automobiles are marketed under the brands BMW, MINI and Rolls and Royce are marketed under the brand of BMW which are famous among customers. The company was the world’s 12th largest manufacturer of motor vehicles and cars all over the world. They produce 2,279,503 vehicles which recorded as high achievement.
BMW has two major targets in which first is gain increased profitable and the second one is to enhance the long term values from the technological, cultural, and structural viewpoints.
The mission of BMW is to become the world’s leading provider of expensive and exceptional products and premium facilities for individual mobility.
There are some goals and objectives of the BMW Company which includes:
- To increase sales with 10% in the next five years
- To develop and design innovative vehicles for attracting new and existing customers
- To enhance the production and manufacturing units in the next 5 years
- To gain higher income and revenue by selling more vehicles and cars to potential clients to increase the 10% growth rate.
Products and services:
BMW is a German international firm that manufactures and produces luxury vehicles and motorcycles. The company was established in the year of 1916 which main motive is to reach with the targeted audience and enhance the growth level in the market place. BMW owns various products such as Mini, Rolls Royce, Daimler AG, Mercedes Benz, and Smart (Pisar, et. al., 2018).
It is the framework that identifying and examining internal and external factors that can create an impact on the viability of project, place, product, and person. It is an internal factor that creates direct and indirect influence on business operations and its functions. SWOT analysis is the business analysis procedure which makes sure that goal and objectives for the project are clearly defined and such factors associated with the business are properly identified. The process involves four areas which involve strengths, weakness, opportunities, and threats. BMW swot analysis helps in providing a detailed evaluation of the company and analyzes the threats and opportunities in the market area.
· Brand awareness
· Standard quality based vehicles
· Capable and skilled workforce
· Attractive but environment-friendly vehicles
· Strong brand presence in different parts of the world
· High manufacture costs
· Products rates are high
· Perception of a costly brand
· Few strategic partnerships
· Expansion of brand portfolio
· The growing demand for environment-friendly vehicles
· Attract international clients
· Increasing costs and value of the raw materials
· Currency variations
· Competition growing
The major success of the company is based on how effective marketing and advertising strategy it adopts. BMW adopts a marketing event and campaign of targeting customers. They are promoting their products and services through the use of social media channels which help them in easily deliver required information of brands to the desired customers. BMW strategy is to maintain and manage brand image among customers (Schneeweiss, et. al., 2019). For this, they use advertisement methods which assist them in easily promote different types of vehicles and cars among clients and provide them accurate information about the brands as well. The company mainly focuses on adopting a social media platform where they can easily promoting and advertising brands in the huge market area. it is important for the company is to promote its products and services among clients and it helps in gaining high income and revenue in a better way. Along with this, it assists the firm in maintaining and managing business operations which enhances company functions and growth. Moreover, it is required for BMW is to focus on developing marketing strategies where they are providing effective goods and services to the clients. Also, they focus on adopting new and advanced technology which increases the success and growth level of an organization.
Budget of BMW
|Design of vehicles||20000|
|Adopt advanced technology||10000|
The DCF method of valuation involves projecting FCF over the horizon period. the company needs to use such a tool for evaluating company assets and costs in a better manner. Along with this, multiples help in analyzing and examining the value of an organization which enhances growth level (Schweiger, et. al., 2019).
From the above-described report, it is concluded that BMW focuses on KPI which helps them in measure and evaluate the business growth and success level. Along with this, KPIs assist in properly evaluating company development and performance. In this, the company has selected Revenue per client KPI which helps them develop such vehicles that can afford by customers. For this, they are concentrate on understanding their clients’ reviews and responses of their products and services as per this they need to make proper changes and modification in their current cars and vehicles effectively. Revenue per client is used to evaluate customer needs and requirements regarding the products. Moreover, it is important for the company is to focus on maintaining its business functions and operations for acquiring higher income and profitability. The problem also identified in this report related to the BMW and also analyses other company KPI which can create an impact on the respective firm operations.
Based on the analysis, the reflection on the suitable controlling instrument helps in maintaining business functions which may create a positive impact on gaining higher results and outcomes. In this, Revenue per client has been chosen which assists the company in measuring the company goals and also gain the attention of desired customers effectively. The company situation analysis is done for examining the current condition of BMW which includes company goals, vision, mission, risks, competition, technology, products, company development, and key competitors. In a quantitative company, the assessment includes assets, profits, and cash flow description which helps them in how to apply the key controlling instrument for better functioning of the firm.
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