Balanced Scorecard and Strategy Map – Part IV
9. Starwood propositions and strategy map.
Starwood vision: become the worldwide hotel and leisure business, focused on customer experience and pleasure.
· Financial proposition: increase shareholder value, increase revenue and defend from competitors.
· Customer proposition: experience driven journey, explore new ways to serve customer.
· Internal process proposition: increase presence worldwide, reinforce segment leadership, explore new channels of sales.
· Growth and learn proposition: enhance work-life balance, manage diversity.
The customer proposition has been built with a bottom-up strategy, collecting and recognizing the different requests expressed by the customers. First the various opinions and suggestions has been categorized in two main areas: service and appeal. Then the customer proposition has been formulated.
10. Starwood Balanced Scorecard.
|
OBJECTIVES |
MEASURES |
ACTIVITIES AND TARGETS |
||
|
LAG |
LEAD |
|||
|
FINANCIAL PERSPECTIVE |
Increase profitability of operations Increase revenues |
RevPar, Revpor ROCE |
Costs allocated to new channels and services |
Develop new channels of sales, new services and new uses to unallocated/unprofitable assets |
|
CUSTOMER PERSPECTIVE |
Customer Fidelization Customer Experience Customer Choice |
Cust. Retention Rate Cust. Satisfaction Rate Market share by segment |
Hrs spent in follow up activities Hrs spent in non-rent fees Cost allocated to develop new choices |
Rewards programs, follow up activity Increase quality level of activities to enhance experience Develop new services, activities, hotel formats to increase choice |
|
INTERNAL PROCESS PERSPECTIVE |
Optimize assets use Service quality and variety Increase presence in world New channels |
ADR, VR Survey Segment presence by country Sales by channel |
Timeshare return Pipeline usage Hr spent dealing |
Develop timeshare allocation to seasonally non profitable assets Develop or buy new hotels in countries with low presence Develop internet channel, promotions, rewards |
|
ORGANIZATIONAL GROWTH AND LEARN PERSPECTIVE |
Develop new skills Work-life balance Manage diversity |
Fees by non-rent services Survey Survey |
Hr spent in non-rent services |
|
Notes:
1. Urban Land Institute, www.uli.org.
2. American Hotel and Lodging Association, www.ahla.com.
3. Smith Travel Reasearch.
4. Datamonitor, International Marketing Data, www.datamonitor.com.
5. Financial Times, www.ft.com.
