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Write 14 pages with APA style on The Balances Score Card Method for Forester Hotel.
Write 14 pages with APA style on The Balances Score Card Method for Forester Hotel. This report will present an analysis of the hotel’s resources and systems and evaluate the financial systems, customers, internal business operations, learnings, and growth of Forester using the method of the balanced scorecard. It will also employ the SERVQUAL method to help in the decision making about the change in the revenue generation model.
The main task of the report is to conduct an analysis of the Forester Hotel in order to understand the competitive priorities for the hotel’s customers. This is undertaken by using the Balances Score Card Method for Forester Hotel. The Balanced scorecard is a technique that provides in-depth insights about what a given strategy’s impact may be on different aspects of the organization including the operational and the financial performance, the customer satisfaction, and the learning and growth of the organization (Kaplan and Norton, 1996).
A Balanced Scorecard can be used for any organization, but it is particularly useful for service organizations where intangible components of operations and services need to be evaluated (Denton and White, 2000). In addition, a balanced scorecard lets the hotel assess the perceptions and expectations of the customers and hence make the relevant changes in its strategies (Denton and White, 2000). .  .It is also an exhaustive exercise for the same reason as it involves several steps like the Systems Mapping, the Objectives Mapping, and the Strategy Mapping before the balanced scorecard can be developed.
A balanced scorecard is however developed on the basis of the information gathered about the financial systems, the customer-related systems, the internal operational systems, and the learnings and growth systems of the organization. It, therefore, relies on an exhaustive mapping of the organization in terms of its systems and the interlink between them (Kaplan and Norton, 1996). The following figure is a system map and it showcases the systems that are operational at Forester Hotel.
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