You're about to create your best presentation ever

Performance Measurement Presentation Template

Create your presentation by reusing one of our great community templates.

PERFORMANCE MEASUREMENT

Transcript: Performance Management in the International Hospitality Industry TOUR 503 - Managerial Accounting for Tourism and Hospitality Industry submitted to : Asst. Prof. Dr. Mine B. Haktanir by: Sanaz Vatankhah Claude Feh measures such has customers satisfaction,market share and quality(non-financial measures of performance) must be conducted as determinants of profitability along with financial measures of performance according to Fitzgerald et al 1991: customer satisfaction, market share are lead measures,whereas profit is a lag indicator. Nature & characteristics of hospitality businesses high fixed costs demand fluctuation cost structure capital intensiveness strongly market oriented changes are true for food services as changing patterns of behavior towards 'snacking & graznig' leads to increasing demand for mid-scale and quick service restaurants rather than fine dinning restaurants emphasizing shareholder satisfaction; gross/net profitability, return on capital employed, residual income/economic value added,sales growth,market position,cash flow etc. focusing on real customer satisfaction,key goals & indicators here typically stress common customer concerns;delivery time,quality,service ,cost etc. key goals &measures should highlight critical skills and competencies,process and technology that can deliver future organizational success key long-term goals and indicators in this regard typically relate to improving flexibility & investing for future development and new opportunity Brander Brown et al 1996: BSC can reduce managerial information workload through reducing strategy down to a handful of key measures also important to consider the casual relation ship between 4 perspectives,with innovation and learning as driving force to deliver success in internal processes ,which then will meet customer and shareholders needs key concept behind developing R&D model : information set used to monitor performance must include both financial and non-financial metrics,address issues of feed forward and feedback & also be both internally and externally focused. criticism to R&D model: it includes a large number of dimensions performance prism: although has a wide definition of stakeholders,it is not clear how the tension between measures can be resolved performance prism also shows the the drivers of stakeholder's satisfaction(strategies,processes,capabilities,contribution) BSC:in spite of good recognition about CHANGE and future orientation(emphasizing on speed,quality ,service as key success factors),it doesn't recognize all stakeholders ,ignoring employee and supplier's contribution and fail to identify the role of community R&D model: recognizes the importance of competition ,flexibility performance pyramid: is clearly linked to value chain of operation weaknesses in implementing BSC 1. lack of balance 2. lack of prioritization 3. tendency for top down approach 4. lack of double loop learning 5.interaction with other control systems performance measurement in hospitality industry starting points was from focusing on predicting failure and managing through difficult trading condition and were predominantly financially oriented after identification of key performance indicators by schmidgrall 1988 small organizations started to make some differences in their performance measurement with a bias towards cost orientation rather than market orientation Gller 1995: KEY SUCCESS FACTORS 1. financial factors(profitability and ROI at the top) 2. non-financial factors(guest satisfaction 4th and employee morale 6th) management information system was not in a position effectively to monitor the things that mattered(Gller 1985) Collier & Gregory 1995 found that incentive schemes were linked to budgetary control and thus financially oriented,showing these organization were still managing through financial measures Huckestein & Duboff 1999 reported a success at Hilton of implementing a BSC approach they had a review on their value chain established a series of integrated initiatives to improve performance they had a great focus on key value drivers of Brand management, Revenue maximization, Operational effectiveness, value proposition there is an interesting shift in the move to global scorecard: Global structure but Locally established measures & priorities Results and Determinants model Table de Bord Balanced Scorecard Performance Pyramid Result and determinant model Performance Prism Metapraxis' Performance Cluster foundation for Performance Measurement's Strategic Quadrants RSA's tomorrow's Company Atkinson & Brander Brown 2001: deregulation and privatization globalization and product differentiation increasingly sophisticated customers increased emphasis on the supply chain & stakeholders The future for research limitation in their accuracy &neutrality a dominance of lag/result over lead/determinant measures emphasis on short-term little appreciation of the links & relationships between key areas & aspects of an organization

Performance Measurement

Transcript: A logic model is a graphic illustration that shows the connections between the results you want to achieve, how you plan to achieve them and how you will validate them. By articulating the inputs, activities, outputs and outcomes of any project or program, it makes it easier to conduct both strategic/developmental work and performance measurement as you have a clear roadmap for success. When designing an external report, only essential data should make it into the infographic (i.e., do not get diverted by measures such as Return on Investment (ROI) that are not in your work plan). Usually people just want to see the overall impact and where the money went Align the design of your report with your existing design elements (i.e. community website), so the style of your messages looks consistent Make sure your reports are consistent through different time periods in order for the audience to track your progress easily 01 How can we help? Visualizing Your Path Examples: Internal reporting to officials External reporting to investors in order to attract financing External reporting to non-government organizations in order to create and foster partnerships, advertise your community External reporting to broader public in order to attract businesses and workforce Despite these barriers, it is almost always a good idea to have some sort of performance measurement process in place. Why? 02 ACTION is a systematic approach used to assess the efficiency and effectiveness of projects, programs and initiatives to monitor how 'on track' you are in achieving your desired goals and objectives As you begin to think about performance measurement within the economic development context, it is important to assess your current state in a systematic way. Having a core template or dashboard of your indicators can go a long way in reducing the time and effort required to generate various forms of reporting, as well as ensuring a consistent approach. Smaller projects and programs that are less complicated TIPS Action This could be real estate sales numbers for the area, unemployment rate, or population change. Common sources include Statistics Canada and BC Stats. Be aware of the difference between indicators related to your performance measurement work, and the data you are asked to track as part of your economic development function Keep them separate! All indicators being used to demonstrate the success or progress of your program should be tied directly to the program’s activities, outputs and outcomes Any indicators that do NOT provide support or evidence of your program’s progress should be tracked and contextualized separately as economic data collection and reporting This becomes very important when you are reporting on your program’s activities or attempting to demonstrate the value of the work being undertaken. Integrating general economic data into your performance measurement framework is at best confusing or misleading, and at worst can make it seem like the program is ineffectual or vague in its goals Action Communicate the purpose of performance measurement At this point you have either visualized your path and selected your indicators in the previous modules, or perhaps you’ve come directly here because you just need to fine tune your existing program. The first step in creating your performance measurement approach is to capture the current status of your program or project. Head over to Module 4 A guide for the allocation of resources Module 3: Visualizing Your Path • Very clearly demonstrates how different areas are interlinked • Easy to map on related indicators • Some may appreciate the highly visual depiction Return to your workbook, and have a look at tabs two and three: “Logic Model, Type 1, List” and “Logic Model, Type 2, Chart.” Both methods of visualization are useful, and you can choose which one you’d like to build on depending on your context. Feel free to play around with both. Remember the cyclic nature of a performance measurement framework and continue to monitor and adjust as necessary. This is why looking at the immediate and intermediate outcomes is one of the most important steps in the performance measurement process. These outcomes are more directly related to the work you’re doing (the activities and related outputs), and together lead towards your ultimate outcome, and can serve a proxy to indicate long-term success. Based on baselines and benchmarks, reasonable and achievable targets may be set. They should link back to the goals of your plan or program(s). We recommend having template or dashboard of your indicators updated regularly, and used as the basis for reporting in the following ways: It may be useful to go through the process of creating your measurement plan as a small group, or to check in with your key stakeholders (such as board members, elected officials or CAO) throughout the process to ensure that everyone is on the same page and has a certain degree of buy-in and

Performance Measurement

Transcript: Targets Screen all City-owned property to identify potential risks and liability related to environmental contamination Quantify financial liability associated with contamination Respond to requests from business units regarding specific City-owned properties Outputs initiatives, education campaigns Why measure performance? Objectives Objectives are broad goals that set the direction for a program or service. E.g. Mitigate the impact of our business on air, land and water. Strategic outcomes environmental footprint, culture of stewardship The world is your performance measurement oyster. Processes partnerships, requests from customers Example: Green Office Indicators Indicators are so much fun! Intermediate outcomes waste diversion, energy consumption, attitudes of staff Inputs staff time, capital dollars invested Targets set a specific direction, goal and timeline for an indicator. E.g. 20% reduction in corporate greenhouse gas emissions by 2020. Indicators promotes fuel efficient behaviour to reduce costs and GHG emissions training program for employees using a driver simulator focuses on idling, tire maintenance, efficient routes, etc. education campaigns Aims to increase public awareness and understanding of environmental issues and how citizens can take action Youth engagement through Mayor's Environmental Expo and Eco Leaders conference Other conferences, workshops and campaigns Review development applications to ensure environmental conditions are compatible with proposed land use Liaise with regulators, applicants and environmental consultants Provide input for Area Structure Plans and Area Redevelopment Plans Track progress over time Make informed decisions Understand how your work contributes to long-term outcomes Communicate your success Immediate outcomes awareness of program, participating employees Performance Measurement Green Driver Environmental Development Review Contaminated Sites Screening Environmental Education Sustainable Procurement Indicators are specific observations that are used to measure a program or service. E.g. Corporate greenhouse gas emissions Ensure goods and services purchased by the corporation meet environmental and ethical standards Conduct research and evaluations of vendor submissions Offer pilot programs to test new products Deliver awareness campaigns There are many different ways to measure progress. Indicators can be developed for program inputs, processes, outputs, or outcomes. Split into four teams. You will have 5 minutes to brainstorm as many indicators as possible. Be creative!

Now you can make any subject more engaging and memorable