Hilton's balanced scorecard has become the primary tool for translating the company vision into daily operations and in addition to share-of-market growth, non-financial measures show improvement, as well. Running head: hilton worldwide 1 balanced scorecard – hilton worldwide jacqueline woodruff university of maryland university college author note this paper was prepared for amba 630 7631 the economics of management decisions (2162), taught by professor linval crossdale. The hilton balanced scorecard process evaluation & improvement dennis koci svp- operations support hilton hotels corporation.
This balanced scorecard (bsc) strategy map can serve as a starting point to develop your own strategy using balanced scorecard download document: documents are in common file formats such as microsoft word (doc), powerpoint (ppt), excel (xls,csv,xlsx), and adobe pdf. Once the balanced scorecard is in place, we would follow a regular cycle of use we would need to gather evidence (results) on a regular basis—possibly for each month, each semester or each year integrated computer systems make this task less daunting. Any business can benefit from using a balanced scorecard with well-designed key performance indicators (or, kpis) but succeeding in the hotel industry calls for different indicators than most. The balanced scorecard takes into account the objectives of both owners and managers in assessing a hotel's success the scorecard tallies financial data, but it also accounts for the customers' assessment of the hotel and examines the extent to which the organization maintains effective func tions and develops its human resources.
Balanced scorecard,strategy mapping has been the subject of recent books, articles and discussionsthis discourse has greatly raised practitioner awareness and interest in the value of integrated strategic scorecard systems by focusing on what these tools are, why companies adopt. The balanced scorecard hall of fame includes such notable organizations as cigna p&c, national reconnaissance office, wells fargo bank, mobil usm&r, hilton hotels, city of charlotte, ups, all of who have achieved breakthrough results through the balanced scorecard. Hilton worldwide executive summary the balanced scorecard is the methodology that enables organizations to implement strategies and achieve their vision and mission hilton worldwide is a global leader in the business of hotels, resorts, and timeshares.
Comply with hilton policies and procedures across the area, maximizing performance on the finance balanced scorecard manage the hotels' relationships with business partners to ensure excellent service by providing quality input such as the accurate and timely processing of invoices, banking and main stakeholders. Hilton hotels • least cost producer 3 years • customer satisfaction • market revenue index • revenues 9% • net income 33% • # customers 450% the balanced scorecard links vision and strategy to employees’ everyday actions balanced scorecard translate, focus and align strategic initiatives what are the priorities. Balanced scorecard “our strategy combines our unique culture with an extensive portfolio of global brands, a customer-focused sales organization, tremendous guest loyalty and a broad distribution of hotels at multiple price points.
A case study on the business performance management of hilton hotels corp chen, ying-chang bsc balanced scorecard management mode, 360 performance evaluation model (edwards and ewen, 2004), and the rise of the promotion in the level of performance management. 1 balanced scorecard implementation as a measurement of the ub hotel performance assessment satriomangkunegoro helmy adam, msa,ak, cpma abstract. A balanced scorecard is more than just a strategy map, but the strategy map is an important element essentially, mapping allows you to put your strategy on one page, in a “language” that everyone can understand. Page 3 of 3 you will note that the suggested scorecard concentrates on a finite number of industry specific kpis the benefits of adopting a balanced scorecard approach to performance management may.
This can be proved by the successful documented experience with the balanced scorecard implementation and use of hilton hotels and marriott franchisee white lodging services, both worldwide recognized hotelier brands (mcphail et al, 2007. The balanced scorecard is one of the world’s top-ten management frameworks and has been the number one framework for performance management since its introduction in the early 1990’s but despite this popularity, little is known about which organisations use balanced scorecard, what they use it for, and how useful it is in practice. To do this, hilton hotels adopted a diagnostic measure called the balanced scorecard, which assesses the effectiveness of hilton's business design by linking short-term tactics with long-term. Publication date: may 15, 2003 hilton hotels' first balanced scorecard, launched in 1997, was essentially a ranking report its second-generation bsc was automated--web based and interactive.
Publication date: october 15, 2005 as early as 1994, hilton hotels recognized the power of the balanced scorecard (bsc) to reverse declining guest satisfaction and loyalty across the global. When the balanced scorecard was created, it didn’t have much to do with strategy mapping but over the years, it has become an integral and unique part of the framework. Balanced scorecard with „strategic vision“ - the story of samsung corning germany seugi 19 16052001, h/kunden/samsung/seugi, vortrag seugi 19 2 agenda 1 short presentation of scd 2 balanced scorecard to strengthen the scd management system 3 strategic vision - the backbone of our project. “balanced scorecard” rating system in areas such as customer loyalty, service, quality assurance and customer satisfaction ratings – as well as exemplary efforts in hotel renovation and diversity projects.