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.
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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.
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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
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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
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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
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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
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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
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