Steps to creating a Perfect Balanced Scorecard for Hotel Business Evaluation
It is good to make progress. We actually put effective measures in place to ensure progress. The reason why you will infuse woocomerce smart coupons, woocomerce mix and match is that you know it will cause you to make certain amount of progress. Progress in this case may be increase in traffic, increase in conversion and so on. The same applies to your hotel business. You put up ads, offer promotional discounts as well as other value added services because you want to make progress. Progress in this case may be selling out more rooms, getting more returning guests and so on. Whatever the case, it is all about progress.
Just like my example, firms tend to take the wrong inclination on the meaning of progress. Most, if not all firms tend to take the financial approach to progress. They tend to see progress as making money. Truth is, this is just a part view of what progress actually entails. I will be correcting that notion and be help you reconstruct your approach to progress. One way to do this is by using a Balanced Scorecard (BSC) system. This is a planning and management systems that is strategic in helping you align the business activities of the organization with its mission and vision. It does this by improving internal and external communication and matching the performance of the organization with its goals. This system will help you ascertain if what you claim you stand for is actually, what you stand for. It will help you determine if you are in line with the vision and mission of your company. The areas of a scorecard for hotel business include finance, customer, business process, learning and growth. Your scorecard must cover all four areas else, it will not be a balanced scorecard. Knowing its importance, below are the steps to creating a perfect balanced scorecard for hotel business evaluation.
Outline the values of your hotel
This is a very critical question. If you want to create a brand in your hotel then you should take your time to examine this aspect. Some of you may be wondering what makes one hotel different from the other. In as much as you may not know, hotels have values just like every other organization. Like every other organization also, their values will vary. What then are your values? What should even be your values? I will talk more about the major determinants of the values of your hotel in my next point.
Identify your type of customers and their major needs
Remember the saying “a customer is always right”, this may just be what the person was talking about when he or she made that statement. The major determinants of the values of your hotel are your customers or prospective customers. If your target customers are teenagers, then you need to put in place facilities that will satisfy their needs. You will be talking about a gym or fitness center, a swimming pool, a bar or club and other facilities that helps them make good use of that useful energy.
Map out strategic procedures you aim to employ
One major setback when it comes to planning is the fact that we plan as a whole and leave out the parts. You should not make that mistake when you want to create a balanced scorecard for your hotel business evaluation. Have a systematic plan as well as how you want to execute that your plan. You should identify every single strategy you want to employ. Pay attention to every detail as every piece of information matters.
Set the standards for evaluation
This is also another important step towards creating a balanced scorecard for your hotel business evaluation. You should make every member of your team know the minimum requirements in terms of performance. Despite that, you should still encourage them to do better. Furthermore, the aspect of setting standards should be a joint duty for all members of your hotel. This will help you set realistic goals for the various departments in your hotel.
Assign roles and responsibilities
It is important that you let every staff in your hotel know what they need to do to ensure that they keep up the values of your hotel. You have to tell the waiters, receptionists, etc. what they have to bring to the table. More importantly, you should give them some level of authority or autonomy to go about their duties. This is a sign of trust and some serious amount of moral encouragement. Kindly read the previous sentence over again.
Evaluate the scorecard
When all is over, you will have to go back to the drawing board where you started and examine yourself. This will help you know how far or how well you are keeping up. This will help you identify redundant areas, areas that need more resources and areas that you need to trim the amount of resources going into them.
Review and adjust the scorecard when necessary
Yes. The scorecard is not just for correcting you and putting you in line. Looking at the scorecard by the end of the day, you will be able to ascertain if there is need to work on your scorecard as well.
Kindly remember that the keyword here is “balanced”. This means that it will help you checkmate excesses. Another important thing to note is the use of the scorecard itself. The use of scorecard should be consistent across the various departments in your hotel. The same scorecard you use in the auditing department is what you also use in the housekeeping department. There should be no discrepancies.