Hospitality Management Assignment 1: Balance Scorecard of Hilton Hotels and Resorts (Front Office) Total Word Count – 2135 words (excluding figures and matrix) Table of Contents 1. Introduction 4 2. Strategic Map (Group Work) 4 3. Financial Perspective (Fanny Dewi) 5 4. Customer Perspective (Karn Kapur) 9 5. Internal Business Perspective (Kyounghee Joo) 10 6. Innovation Perspectives (Avisek Biswas) 12 7. Balanced Scorecard (Summary) (Group Work) 14 8. Conclusion 15
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‚ Wilson‚ T.‚ & Akert‚ R. (2010). Social Psychology (6th ed.). Pearson Education. Business Dictionary. (2012). Risk avoidance. Retrieved from http://www.businessdictionary.com/definition/risk-avoidance.html#ixzz1m878xPTH. Balanced Scorecard Institute. (2010). Balanced scorecard basics. Retrieved from http://www.balancedscorecard.org/BSCResources/AbouttheBalancedScorecard/tabid/55/Default.aspx. Barsh‚ J. (2008). Innovation management: A conversation with Gary Hamell and Lowell Bryan. The McKinsey
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Question 1: What is Ban Boredom and does it make sense for Store24? Answer “The Ban Boredom strategy was really playing off of the urban‚ young adult market. Marketers know that this demographic gets bored easily and needs to be stimulated. We wanted this group to always see new and different things in the store.” (to create a strong sense of loyalty) Ban Boredom คือ กลยุทธ์ที่ Store24 สร้างขึ้นมาเพื่อจับกลุ่มตลาดผู้บริโภคที่เป็นผู้ใหญ่ตอนต้น ซึ่งทาง Store24 เชื่อว่ากลุ่มคนพวกนี้เบื่อง่าย Ban
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Environmental scanning is a key activity that begins a company’s strategy planning process. The scanning must include both external forces like economic‚ technological‚ political-legal‚ and sociocultural as well as internal competencies such as value‚ rareness‚ imitability‚ and organization in order to be effective (Wheelen & Hunger‚ 2010). This thorough analysis will provide a foundation for a company to build their plan upon. Environmental scanning provides a company their strengths to build upon
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interpret standard costs and variances‚ and critically evaluate the advantages and disadvantage of standard costing (Aims 2‚ 3 & 4) Analyze the different responsibility centers‚ performance measures and goal congruence issues‚ including the balanced scorecard (Aim 4) Become exposed to issues of strategic planning and control (Aim 4) Weighting (if applicable) 15-20% 2. 15-20% 3. 15-20% 4. 15-20% 5. 6. 15-20% Become familiar with methods of advanced costing methods 15-20%
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TEPCO-Fukushima nuclear crisis? Why did financial giant UBS adopt a radically new compensation model in late 2008? Did it work? How can RIM’s (now known as BlackBerry) problems and potential opportunities be understood? How did the RCMP go from being a Balanced Scorecard poster child to requiring its honour restored in
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Aspect of Company Performance Factors to be Considered Organizational Goal (per quarter) Actual Performance (most recent quarter) GAPS Financial Quarterly Profit Results Inventory Turnover (rate of product manufactured in that quarter sold within 1-2 months) $20‚000 90% $25‚000 110% Quarterly profits were higher than anticipated ($25‚000 versus $20‚000)‚ as was inventory turnover rate (110% versus 90%). Customer Customer Satisfaction Rate Customer Recommendation Rate (rate of new business
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Publishing. Kreitner. (40). Organizational Behavior [VitalSouce bookshelf version]. Retrieved from http://online.vitalsource.com/books/1259234185/epubcfi/6/66 Olve‚ J.‚ Roy‚ J. & Wetter‚ M. (1999). Performance drivers: A practical guide to using the balanced scorecard. Chichester: John Wiley & Sons. ISBN: 9780471986232 Szwarc‚ P. (2005). Researching customer satisfaction & loyalty: How to find out what people really think. London: Kogan Page. ISBN: 9780749443368 Trompenaars‚ F. & Prud’Homme‚ P. (2004)
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ผู้เขียนอยากให้ผู้บริหารธุรกิจ นักกลยุทธ นักการตลาด ได้เห็นภาพรวมของกลยุทธระดับธุรกิจที่เชื่อมกับกลยุทธแบรนด์พอร ์ตโฟริโอ ถ้าจะอธิบายให้เข้าใจง่ายๆ นั้นมีหลักอยู่ 2-3 อย่างด้วยกัน อย่างแรก การคิดเชิงกลยุทธ ซึ่งเป็นเรื่องเกี่ยวกับวิสัยทัศน์ ภารกิจ เป้าหมายแล้วใช้ Balanced Scorecard & KPIs แปลความไปสู่กลยุทธ ตรงนี้เองที่นักการตลาดจะพูดถึงแบรนด์ในมิติที่เกี่ยวกับวิสัยท ัศน์และคุณค่าของแบรนด์ อันจะนำไปสู่วัตถุประสงค์ของแบรนด์พอร์ตโฟลิโอ เช่น Synergy‚ Leverage‚ Relevance‚ Strong Brands‚ Clarity อย่างที่สอง เมื่อสามารถพิจารณากลยุทธธุรกิจ
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REPORT July 2002 Use the Balanced Scorecard to Execute CRM Strategy Viewpoint CRM is all about vision‚ strategy and implementation. Too many companies lead with technology‚ and fail. Changing behaviors and processes are key to implementing strategy. A Balanced Scorecard makes change manageable. Dynamics • Competitive pressures are driving companies to invest in CRM‚ even though 50% to 90% of CRM initiatives fail. The primary cause of failure is the inability to develop and effectively
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