Brewing success: improving operations and financial management of momento cafe (ahmedabad) using the balanced scorecard method

Abstract

Two food-loving brothers from Ahmedabad founded the popular establishment Momento which began as a small food truck concept to deliver its unique dining experience. Since its founding four years ago Momento has evolved into a fashionable Gen Z-friendly eatery which now offers its exclusive drinks alongside delectable meals to its customers. The high popularity of Momento comes with several operational challenges such as persistent employee turnover and inventory management difficulties as well as seasonal financial variations and inadequate financial plans. A crucial concern for the business stems from both growing competition and new opportunities that come with emerging coffee joint ventures. The café faces its main problem because it makes most decisions without recorded data resulting in poor strategic vision and reduced long-term growth potential. Our project introduces a Balanced Scorecard (BSC) system which brings a systematic structure to assess and improve the performance of the café. A BSC model delivers performance measurement through Financial Performance together with Customer Satisfaction and Internal Processes as well as Learning & Growth analysis. The financial assessment of Momento alongside menu inspection and inventory costs analysis and customer opinions and expansion assessment allowed us to design a specialized BSC system for the café. The strategic goals at Momento become easier to implement through this approach because it allows front-line operations to match strategy while improving both customer satisfaction and financial planning systems and employee development programs. The BSC approach implementation will enable Momento to end its current state of stagnation and develop pathways to achieve both sustainable growth along with higher operating performance and long-term profitability. The primary target for Momento involves developing a performance assessment system that will lead its future development throughout the next 2–3 years.