Data Analysis For Hospitality Management

Only available on StudyMode
  • Download(s) : 240
  • Published : February 17, 2012
Open Document
Text Preview
Data Analysis for 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.Introduction4
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.Conclusion15
9.References16
10. Appendices20

1. Introduction

Measurement of performance has always been a very important part in the success of an organisation. Balance scorecard is a tool that helps in measuring performance not only quantitative but also qualitative, which is shown in the financial, customer, innovation and internal perspectives (Tyagi & Gupta 2008). Balanced scorecard is a systematic evaluation tool of any organisation.

Balanced scorecard was designed as a strategic tool and used mainly by the executives of an organisation, and might not relate to the employees at operational levels (Kaplan & Norton 2001). Balanced scorecard does not provide guidelines for implementation at process level but it does help identify the measures to be taken to improve the working of an organisation (Nair & Hoboken 2004). Hence balanced scorecard proves to be a very essential tool for the success of an organisation.

Balanced Scorecard
Financial
Customer
Innovation
Internal
Balanced Scorecard
Financial
Customer
Innovation
Internal

Balance Scorecard (Kaplan and Norton 1996)

2. Strategic Map

Main purpose of a Balanced score card as discussed above is to measure performance from four different perspective. The group will measure performance on these four fronts and using those measurements will in turn help maximise the revenue for the hotel.

-------------------------------------------------
Balanced Scorecard for Front Office, Hilton Hotels and Resorts -------------------------------------------------

-------------------------------------------------
* Occupancy %
* ADR
* RevPar
* Cost & Expenses
.
* Market Share
* Service Quality
* Customer Satisfaction
* Customer Retention
* Employee satisfaction
* Employee turnover
* Incentives & Empowerment
* Technology
* Efficiency, effectiveness & ideas
Financial
Internal
Innovation
Customer
Core
Growth in Revenue
Front Office
Hilton
* Occupancy %
* ADR
* RevPar
* Cost & Expenses
.
* Market Share
* Service Quality
* Customer Satisfaction
* Customer Retention
* Employee satisfaction
* Employee turnover
* Incentives & Empowerment
* Technology
* Efficiency, effectiveness & ideas
Financial
Internal
Innovation
Customer
Core
Growth in Revenue
Front Office
Hilton

3. Financial Perspective

We agree that financial goals could be achieved provided that guests are satisfied, which relates to non-financial aspects of the measurement. Although financial measure is the framework relied heavily in every organization, proven in researches by Mia and Patiar (2001) as well as Harris and Mongiello (2001), who found that general managers emphasis heavily on financial measures, non-financial perspectives are not to be neglected as done in previous studies by Evans (cited in Eccles 1991; Webster 1992; Stalk et al. 1992; Kaplan and Norton 1992). Financial perspective in balanced scorecard (BSC) is viewed as a lagging indicator that will serve as a leading indicator to drive future performance when balanced with the non-financial measure (Evans 2005, p. 376). Kaplan and Norton (1992, 1993, 1996a, b, c, 2001) describe leading indicator as performance drivers and lagging indicator as outcome measures. For example a process cycle-time or error rate might be leading indicators, measured at...
tracking img