Managing change implementation for B&B Essay Example | Topics and Well Written Essays - 750 words

Managing change implementation for B&B - Essay Example There are competitive advantages that benchmarking provides, alongside setting a company on a path to growth and industry success. To initiate a change that would enable Kynance House to provide meaningful competition to industry giants like Imperial Plymouth Guesthouse, benchmarking will involve looking into the aspects of the business in which the latter excels. Imperial Plymouth Guesthouse is first of all situated in a strategic place just outside the city centre, and also near tourist attractions. Business location is important and determines performance in many cases, but that shouldn’t worry Kynance House much to the point of wanting to relocate to a different location. It would be one of the costliest moves. What Kynance needs to do is to observe Imperial guesthouse in terms of how it carries out business and its prioritized investments. It really wouldn’t be necessary to adopt every single practice observed at Imperial Plymouth Guesthouse. The greatest benefit that Kynance House should derive from benchmarking with Imperial Plymouth Guesthouse is to learn the art of the business. It gives a picture of how to best conduct the business. Kynance should then decide if it wants to better those practices or pursue them as they are. To initiate a change to would make Kynance House competitive alongside B & B industry giants such as Imperial Plymouth, the management should recognize the fact that money must be spent to get more money. Some of the practices at Imperial Plymouth Guesthouse are cost-effective; quite a sum of money would be spent to get some of the structures in place. Initial spending, however big, would be an obligation, not a choice. Customer’s complaints revolve around some of the things Imperial Plymouth excels in. The management must make all the necessary adjustments if it needs to maintain customers and attract

Balanced Scorecard for Banagas Essay Example | Topics and Well Written Essays - 4000 words

Balanced Scorecard for Banagas - Essay Example From this report it is clear that  Balanced Scorecard was created in 1992 by Robert S. Kaplan and David Norton. It is a method for measuring a company's activities in terms of its vision and strategies giving managers a comprehensive view of the performance of a business. Generally, Balanced Scorecard can be characterized as a strategic management system that forces managers to focus on the important performance metrics that drive success. It balances a financial perspective with customer, internal process, and learning & growth perspective.As the report highlights Balanced Scorecard from a financial perspective measures reflecting financial performance, for example number of debtors, cash flow or return on investment. The financial performance of an organization is fundamental to its success. It should be noticed that the financial perspective of Balanced Scorecard usually refers to the estimation and evaluation of the figures revealed in the company’s accounts (trying to l ocate the firm’s current performance) as they can analyzed and presented using the common financial analysis practices.  From a Business Process Perspective, Balanced Scorecard measures the reflection of the performance of key business processes, for example the time spent prospecting, number of units that required rework or process cost.  The evaluation of the firm’s strategy and aims – as part of the specific area of Balanced Scorecard analysis and implementation – has to be regarded as a challenging task.