Implement your strategies effectively...

Managing key business processes

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Managing key business processes

Finding the right strategies for your business is clearly a big challenge. But executing them often proves to be an even bigger hurdle for senior managers, with research continuously showing that many companies, large and small, struggle to bring the agreed strategies to fruition.

As a result, across all industry sectors, there is a growing emphasis being placed on building execution capabilities within enterprises. Of course, executing your strategy depends upon a myriad of factors such as management effectiveness or employee engagement levels, and encompasses a multitude of activities.

Ultimately the execution happens through your key processes. Depending on the nature of your business these will include areas like financial management, marketing, human resources and a range of operational processes such as front office (reservations and reception), food and beverage and so on.

Strategic focus

Unfortunately, in tourism enterprises, strategic management and operations management often happen in relative isolation to each other. In many cases, operational managers have no real understanding of the strategic focus of the business they work for.

One way of visualising the required links between strategy and operations is by using the balanced scorecard management system developed by Kaplan and Norton. An abridged version is illustrated below.

 

Balanced Scorecard Management System developed by Kaplan and Norton