KATALYST
                                  Reviewing The Balanced Scorecard

                              Understanding t...
KATALYST
                                  Reviewing The Balanced Scorecard



                   CREATION OF THE INITIATI...
KATALYST
                                  Reviewing The Balanced Scorecard

    Steps involved in conducting the scorecar...
KATALYST
                                  Reviewing The Balanced Scorecard


                                   A

      ...
KATALYST
                                  Reviewing The Balanced Scorecard




                                     B

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KATALYST
                                  Reviewing The Balanced Scorecard


                                          C
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KATALYST
                                  Reviewing The Balanced Scorecard


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Reviewing the unit balanced scorecard 15 june2010

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Reviewing the unit balanced scorecard 15 june2010

  1. 1. KATALYST Reviewing The Balanced Scorecard Understanding the impact of your initiatives 1. Your initiative action plans are key to driving the Company Strategy. 2. They simplify the strategy into deliverables 3. They allow you to define what steps you need to do to drive the strategy 4. Thus measuring the performance of the initiatives is actually measuring the performance of the Company Strategy. 5. Initiatives driven by you create a domino effect that drives the scorecard measures. 6. The speed of your initiative is the speed of the Company Strategy. Remember, your initiative was designed to drive the Company Strategy. The process flowcharts in the following pages talk about the “people” aspect of conducting the reviews. The detailing of the reviews should be done using Covenark ® Strategist as per the training provided. NOTES: Ensure that each initiative review lasts no more than five minutes. If you feel if an initiative will take more than five minutes, insist that the team meets you after the review. reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 1
  2. 2. KATALYST Reviewing The Balanced Scorecard CREATION OF THE INITIATIVES AND ACTION PLANS Company defines long term and short term strategies through the BSC Strategy Owners identified. Measures identified that track the performance of the strategy Strategy drivers identified and initiatives created that drive the strategies Initiative owners identified. Measures that track the initiatives identified. Specific action plan templates documenting process/project leader, teams, steps to perform and times lines are created. Clear measures to track status identified. Brand BSC owner aligns all initiatives for all hotels to monitor performance at the Brand level. reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 2
  3. 3. KATALYST Reviewing The Balanced Scorecard Steps involved in conducting the scorecard review in meetings. REVIEWING THE INITIATIVE ACTION PLANS AT UNITS GM checks status of action plans Completed In progress and delayed Not started In progress and on target A B C D reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 3
  4. 4. KATALYST Reviewing The Balanced Scorecard A Completed Has the YES action Congratulate the plan team for its success achieved NO Possibly the action Find out what went plan was not correct or wrong the team has deviated from its objective Ask the manager or team leader to conduct an audit of the process steps Document findings END reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 4
  5. 5. KATALYST Reviewing The Balanced Scorecard B In progress and on target Review the steps already completed Is the action plan Find out where they moving as NO may be going wrong. expected & correctly? YES Review the purpose Congratulate the team of the action plan for its success so far and steps to perform Ask the manager or team Check for in-process leader to keep up the measures to confirm good work the path of progress Ask manager or Document findings team leader to audit the process END reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 5
  6. 6. KATALYST Reviewing The Balanced Scorecard C In progress and delayed Review the steps already completed Is the Congratulate the team action plan YES for its success so far moving as expected & correctly? NO Find out where they may be going Ask the manager or team wrong. leader to keep up the good work Review the purpose of the action plan and steps to perform Document findings Check for in-process measures to confirm the path of progress Identify reason for delay Is there YES a need Provide the required for resources addition NO Counsel the team to try harder Document findings and come at par END reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 6
  7. 7. KATALYST Reviewing The Balanced Scorecard D Not Started Identify reason for delay Is there a NO need for Counsel the team to try additiona harder and come at par l YES Ask the team to identify resources required Understand the need and provide the required resources Document findings END reviewingtheunitbalancedscorecard-15june2010-100730044121-phpapp01.doc Page 7

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