Balanced Scorecard

BALANCED SCORECARD (BSC) A Learning Session

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Phase 1  

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Phase 2 

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DSB’s Direction BSC & OGSMART DSB’s Balanced Scorecard (BSC)

Phase 3 

Departmental BSC

CONTENT

Balance d

Scorecar d

BALANCED SCORECARD

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A way of looking at your organization, or your property, or your dept, in a WHOLISTIC way

BALANCED

FINANCIAL To succeed financially, how should we appear to our shareholders?

PERSPECTIVE #1

CUSTOMER To achieve our vision, how should we appear to our customers so that we achieve our Financial goals?

PERSPECTIVE #2

INTERNAL BUSINESS PROCESSES To satisfy our shareholders & our customers, what business processes must we excel in so that we are able to achieve Customer & Financial goals?

PERSPECTIVE # 3

ORGANIZATIONAL CAPABILITY To achieve our vision, what competencies & attitudes must our people have so we can improve our processes, deliver on our service promise to our guests & achieve our financial goals?

PERSPECTIVE #4

HK

Eng’g

Culinar y

FO

Financ e

Concierg e

FINANCIAL

CUSTOMER

INTERNAL BUSINESS PROCESSES

ORGANIZATIONAL CAPABILITY

BALANCED

GS

HR

OBJECTIVES

GOALS

SCORECARD

INITIATIVES

MEASURE

CHAMPIONS

TIMELINE

Objectives

Goals

Initiatives

Financial Customer Int Business Process Org Capabiliti es

1 SCORECARD PER PERSPECTIVE

Measure

Champion

Timeline

Your 1 – 3 year action statement  Always start with “To ... “  Should be the significant differentiator that will make you different from competition  This will set the tone for the clarity of your entire BSC 

OBJECTIVES

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To be the preferred hotel for LSG’s (property level)

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To retain high potential employees

SAMPLE OBJECTIVES

Your targets in numbers --- it clarifies your objective  Should be measurable  Start it with a verb, i.e. “increase”, “decrease”, “reduce”  Using the word “maintain” means you’re not changing it 

GOALS

OBJECTIVE

GOALS

To be the preferred hotel for LSG’s

Increase LSG’s by 10%

To retain high potential employees

Retain 90% of high potential employees

WHAT

SAMPLE GOALS

Finance Property Goals

  

How does it go from the big picture to the small picture Be specific when you communicate the goals Is the goal: Specific, Measurable, Actionable, (is someone) Responsible, Time bound?

TIP ON GOALS

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HOW will we get there and where do we focus our resources (people, assets) in order to achieve our goals?

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What programs or action steps can you take that will take you to your goals?

INITIATIVES

OBJECTIVE

GOALS

INITIATIVES

To be the preferred hotel for LSG’s

Increase LSG’s by 10%

Create LSG programs

To retain high potential employees

Retain 90% of high potential employees

Create developmental plan for high potentials

Where will you track/monitor the achievement of your goals?  What reports will show this?  You may use existing reports & channels, i.e. P&L, TripAdvisor, or create new ones 

MEASURES

OBJECTIVE

GOALS

INITIATIVES

To be the preferred hotel for LSG’s

Increase LSG’s by 10%

Create LSG programs

To retain high potential employees

Retain 90% of high potential employees

Create developmental plan for high potentials

MEASURES P&l

HR Report

Must be a position title  Cannot use a Department or Unit  May use multiple positions of the same title, i.e. Sales Managers, or different positions 

CHAMPIONS

OBJECTIVE To be the preferred hotel for LSG’s

GOALS

INITIATIVE MEASURE S S

Increase Create LSG LSG’s by 10% programs

To retain high Retain 90% potential of high employees potential employees

Create development al plan for high potentials

CHAMP

P&l

DOSM

HR Report

HR Head

When expected to start  If time Initiative is for a limited time, include start & end  “Ongoing” is not allowed 

TIMELINE

OBJ

GOALS

INITIATI MEASUR VE E

CHAMP

TIME

To be the preferred hotel for LSG’s

Increase LSG’s by 10%

Create LSG programs

P&l

DOSM

Q1

To retain high potential employees

Retain 90% of high potential employees

Create & discuss ind dev plan with high potentials

HR Report

HR Head

Q2

BALANCED Look at your property or your department in a WHOLISTIC way.

SUMMARY

HK

Eng’g

Culinar y

FO

Financ e

Concierg e

FINANCIAL

CUSTOMER

INTERNAL BUSINESS PROCESSES

ORGANIZATIONAL CAPABILITY

BALANCED

GS

HR

SCORECARD Look at your property or your department in a WHOLISTIC way.

SUMMARY

Objectives

Goals

Initiatives

Financial Customer Int Business Process Org Capabiliti es

1 SCORECARD PER PERSPECTIVE

Measure

Champion

Timeline

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OBJECTIVES: what you want to be in 3 years

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GOALS: breakdown your objectives into what is to be achieved in 2016 & state this in measurable terms

SUMMARY

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By breaking down this ambitious goal, we’re making sure that everyone has a piece of that goal that they need to accomplish.

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It is important to show how your people are going to help you in getting this goal accomplished

A NOTE ON GOALS

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INITATIVES: Specific programs or actions (“Cost Buster” Incentive Program) that will help achieve your goal

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MEASURE: Which report will show the achievement of your goals? (P&L)

SUMMARY

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Financial – how do you want to appear to your shareholders?

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Customer – to achieve your Financials, how should you appear to your (external & internal) customers

SUMMARY

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Internal Business Processes – what business processes should you excel in so that you can best serve your Customers & achieve your Financial objectives?

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Organizational Capabilities – what competencies & attitudes must our people have so we can improve our processes, deliver on our service promise to our guests & achieve our financial goals?

SUMMARY