Data Analysis For Hospitality Management

4057 Words17 Pages
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. 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 9. References 16 10. Appendices 20 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…show more content…
Hence, leading indicators are often captured at the level of individual processes, whereas lagging indicators may be the result of changes in a number of leading indicators (Lawson, Hatch and Desroches 2008, p. 168). The goal of the CEO is revenue growth. Focusing on the financial perspective, the following steps will be undertaken to obtain success for balanced scorecard implementation. As the first step, author will show the need of implementing revenue management, parallel with Front Office operations, particularly in the roadmap (Woods et al. 2007) of revenue management (exhibit 1.1). It will then be established with financial perspective’s Key Performance Indicators (KPIs), which will determine the necessary measurements, in order to achieve the objectives in the balanced scorecard. Exhibit 1.1: Roadmap of Financial Dimension 1.1 (Woods et al. 2007) In this writing, the role of revenue manager and tools used by revenue managers will not be explored further. Concentration on the revenue management essentials related to the methods used in the yield management would provide understanding towards each benchmark in balanced scorecard. Actions for obtaining objectives are demonstrated in exhibit 1.2 in this page. The benchmark as well as target within specific time frame for each action of objective could be both, percentage or dollar and cent measurements. Exhibit 1.2: Objectives and Actions For a better understanding on measurement tools used, adopted
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