Business Management

Management Of Hotels Scorecard With Bsc

Business Management blogger

It happens that Balanced Scorecard turns into said waste of time and money. This explains critical reviews of Balanced Scorecard submitted by top managers with a negative BCS experience. The problem is that Balanced Scorecard is often considered and magic business management tool that can solve any problems. BSC is a strategic management tool and thus some top managers think it can substitute strategy. Balanced Scorecard mistakes are quite typical, although they differ throughout various industries. Sometimes sets of key performance indicators and implementation guidelines are taken from online sources without proper revision and harmonization with company strategy, organization structure, goals and objectives etc. This also concerns implementation of Balanced Scorecard in hotels. As known, hotel industry is extremely competitive. In order to maintain competitive advantage and revenue rates hotels have to make unique offers to customers providing them with top quality services at competitive prices.
This is only possible if everyone in the company is thinking of ways to improve his or her performance and contribute to implementation of strategic goals.

Balanced Scorecard is perhaps the best tool for these purposes. It does not only serve as performance evaluation tool but also as a powerful strategic management system. It communicates operational in strategic management and takes strategy from presentations and strategic plans to real actions. Implementation of Balanced Scorecard in a hotel has its own peculiar features which are mainly represented in the choice of key performance indicators and customer oriented strategies.

The first thing top managers and hotel owners have to do before making a final decision to implement Balanced Scorecard is to develop a strategy. Do not hope that Balanced Scorecard will substitute the strategy. One should think of future. There is nothing wrong in earning immediate cash, however, you will lose in the long term since competitors make plans for three, five and even ten years. In this sense Balanced Scorecard is just perfect. BSC makes it possible to design long-term strategic plans and control their implementation in real time. Previously, hotel top managers analyzed only financial indicators which represented financial results for past periods. With Balanced Scorecard it is possible to be kept informed on implementation of hotel strategy all the time.

Once the strategy is developed, top managers and maybe Balanced Scorecard consultants have to look for key performance indicators which will be measured in order to obtain information on strategy implementation efficiency. Key performance indicators cover critical success factors in various spheres and aspects of running hotel business. KPIs fall into several categories: financial, customer, internal processes, as well as learning and growth. Names of categories are quite explicit and it is easy to imagine what key performance indicators can be found there. It needs mentioning that implementation of financial goals is only possible through implementation of goals in the other categories. Big profits are made only when more and more customers are coming to hotels, which is only possible through optimization of internal processes, development of unique offers and improvement of personnel professional skills and knowledge.

Lean Manufacturing The 7 Principles of Toyota Production System (TPS).

Business Management blogger

In daily production there are 7 wastes that need to be treat well in order to achieve maximum profit and high productivity. In Lean manufacturing or Toyota Production System the 7 wastes are:

1.Overproduction,

2.Waiting time,

3.Transportation,

4.Inventory – over stock (unnessary stock),

5.Too many motion,

6.Over processing and,

7.Defective parts or unit also known as rejection.

In order to reduce or eliminate the waste a 7 principles was developed by Toyota known as the 7 principles of Toyota Production System.

1. Reduce setup times.

All setup process that are implemented are a waste because of they tie up to labor and equipment. By organizing procedures, using carts and highly skill workers to do their own setup (self management), Toyota managed to reduce setup times.

2. Small Lot Production:

Producing products in a big lots result in a high setup cost, high capital cost of high speed machinery, larger inventories, long lead time, and of course large defect cost.

3. Employee Involvement:

Toyota organized their workers by forming teams and gave them the responsibility and training to do many specialized tasks. Teams are also given responsibility for housekeeping and minor equipment repair. Each team has a leader who also works as one of them on the line.

4. Top Quality control:

Quality is well control at each station of production line. The concept not to pass defective product to next process which control by the owner(operator) of that process has help a lot of Toyota production line. Any defective product found must be discovered and corrected as soon as possible and therefore to achieve the objective responsibility is given to the owner of that process. If it cannot be fixed, he can stop the line by pulling stop cord called Jidoka.

5. Equipment Maintenance:

One of the major contributors to line stoppage and defective is come from failed equipment. Therefore beside Maintenance people maintaining the equipment, Toyota operator are also assigned for basic maintenance task such cleaning and lubricating. Most important is that the operator is in the best position to detect any abnormality of the equipment. This known as a Total Productive Maintenance.

6. Pull Production.

To reduce inventory holding costs and lead times, Toyota developed the pull production method wherein the quantity of work performed at each stage of the process is dictated solely by demand for materials from the immediate next stage. The Kanban scheme coordinates the flow of small containers of materials between stages. This is a commonly known as Just-In-Time (JIT).

7. Supplier Involvement.

Supplier or vendors is a partner to Toyota. In Toyota Production System supplier shall involve and train together to achieve target for both side.

Skills Required in Business Management

Business Management blogger

There are around thousands of business born, still if we see then we will find out that most of the business go under few short years. The business field gets more and more competitive and business manager or owner has to be very skillful to keep the business process and their enterprise afloat. For getting the success in Business there are many such cardinal areas that as a manager, one should overlook. There are many such skills that are required in the company has of surviving and progressing. These skills form the core of what business managers should know. To utilize these key management skills will go a long way to determine the successful career in business. The Management of Cash Flow: There is the great percentage of business that has failed as they do not generate cash or they do not manage their funds wisely. It is the easy way to see cash as an integral part of business especially for starters. To discuss on cash flow, firstly, we should know what exactly cash flow is. In layman language, cash flow is the movement, availability or otherwise of physical currency in out or within the company or business enterprise for various business purpose. The importance of cash flow can be illustrated with the example of small firm that forms reasonable revenue. After the salary payments and expenses of company owners decide to invest the greater part of the cash in the company profits in purchasing any equipments or anything that is relevant to the infrastructure of the company. Management of Personnel: Getting the workforce to perform the maximum is the most daunting task. As the manager comes to discover how varied and irregular the work of is our workers are. The work will be determine the personalities of people and will work closely with all the available emotional buttons on them. Emotions can also affect the people that include fear, geed, love, sex and anger. There are the things that are required to trigger your people the most and also to act accordingly. Managing persons means to take a lifelong commitment and to study personalities and thus gently prodding people in their strong areas. Management of Time: There are so many things that are written and have been said on this issue. In our modern sophisticated world, technology and fast living it becomes more difficult to manage our time effectively. There are many experts who bid to showcase their superior knowledge to proceed and elaborate and are also having complicated solutions on time management problems. Implementing on time management advice there leads one deeper into time management difficulties. For an entrepreneur, business manager is the best approach of business management. Effective time management can only be done with the matter of common sense. Common Sense and time management just needs the following practical suggestion. Daily Planning: One of the basic lesson that we have to learn is the setting of young, professionals and inexperienced entrepreneurs is to plan each day and night before early hours of that particular day. Day planning should be done with the daily planner and also by drawing a line down the middle.

Business management – managing survival and growth

Business Management blogger

Survival of the fittest- is the law of the jungle which is equally applicable to the competitive market place where firms struggle and fight for survival and ensuring survival of the firm is a critical task of the manager and that alone is not enough and the manager has also to actively seek growth and no matter how big or powerful a firm may be today, it is sure to be left behind in the race by newer, healthier and more efficient firms if it does not pursue growth. Two sets of factors impringe upon the firm’s survival and growth. The first is the set of factors which are internal to the firm and are largely controllable and these internal factors are choice of technology, efficiency of labor, competence of managerial staff, company image, financial resources etc.

In order to survive in the market, it is the responsibility of the organization in improving the efficiency of its workforce and efficiency is the ratio of output to the input and a manager has not only to perform and produce results; however, to do so in the most efficient manner possible. In order to produce the results a manager requires inputs in the form of money, men, materials and machines. The more output that the manager can produce with the same input, the greater will be the profit generated and profit is the surplus or difference the manager can generate between the value of inputs and outputs.

Profit is essential for the survival and growth of the business and a manager may decide to forego some profit today for the profits which he is seeking tomorrow; however, in the long run he should understand that no business can survive if it does not make profits and the business activity is undertaken to satisfy a need of the society in a manner which yields profits. A business is not a philanthropic or charitable activity which is run merely to provide some goods and services irrespective of whether it is making a profit.

Profit generated can be used for expansion, upgrading of technology, growth or paying dividends. Profits are one of the cheapest sources of financing growth as they involve no interest liability nor putting the freedom at stake by having representatives of financial institutions sit on the board of directors. Profit drives the business manager an initiative to take risk, think big and venture into relatively unknown areas. A profitable firm can turn unprofitable because of obsolete technology, inability to meet high fixed cost structures, high levels of wastage, or simply because the product is no longer in demand by the customers.

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How2r1 a High Performance Hi-Gain Outdoor Wireless 300N with Dual Radio Smart Repeater

Business Management blogger

Wireless repeaters are used to repeat your existing wireless network to reach longer distances and eliminate dead zones. As the best practice, you need to arrange the wireless repeater as far as possible from the wireless sources you need to rebroadcast, but still receive the signal, and close to the wireless clients which need to be covered within the wireless network.

Traditional repeaters are typically connected to 2dBi antennas which are designed to be Omni-directional in receiving the signal and rebroadcasting in all direction around the device. On the other hand, a directional wireless antenna is designed to focus the wireless signal only to one direction, thus it can cover longer distance. To meet your requirement, a wireless repeater should be engineered to receive to signal using directional antenna, so it can focus the signal to a certain direction with longer distance and rebroadcast the signal using Omni-directional to cover wireless clients within all direction. Is there any wireless repeater that meets the above requirements? Consider the HOW2R1 Hi-Gain Outdoor smart repeater

What this Product Does

HOW2R1 Hawking is a Hi-Gain Outdoor 2.4GHz Wireless-300N dual radio smart repeater which connects and repeats your existing wireless network with up to 64x the power output and 8x the distance of a standard Wireless-G device. HOW2R1 Outdoor Smart Repeater is designed with two different radio frequency bands, one radio band is dedicated for receiving the signal source and the other radio band is dedicated for rebroadcasting the signal source in an Omni-direction using two external 5dBi Omni-directional antennas. Unlike traditional wireless repeaters where signal receiver uses Omni-directional antenna, the HOW2R1 captures the receiving signal (signal source) using 11dBi directional antennas integrated internally.

With this dual-radio with different dedicated function, the repeater effectively eliminates wireless dead spots inside and outside of your large home or office.

Advanced Security

HOW2R1 Outdoor Smart Repeater is powered by the fastest wireless 802.11n standards. 802.11N is the latest wireless standard which was approved by the IEEE last Sep 2009 as the final version of the previous draft 802.11n. No significant changes actually but some additional options. The device is designed for outdoor environment and is packed with many advanced security features including IEEE 802.11x authentication, MAC address filter to control the access right, the latest industrial wireless security Wi-Fi Protected Access (WPA/WPA2) and WEP (for legacy client connections), and hidden SSID.

The good thing with this wireless repeater is that it features broadband router including:
1. Firewall. Traditional repeaters do not support firewall feature. With firewall, all traffic will be filtered based on security policy set
2. NAT (network address translation), can be used to hide the internal network and combined with the DoS protection helps protect your network against any network threats.
3. Access control: allows you control who have access right or deny access based on the MAC address or IP address filter.
4. DMZ (demilitarized zones) feature helps you create a security boundary to provide public resource separated from your private network
5. Port forwarding allows you expose certain ports to the public
6. URL blocking allows you control which URLs are denied

Smart Repeater Support Utility

In order to configure, and troubleshoot the wireless connection for multiple smart repeaters, the HOW2R1 includes Windows based Smart Repeater Support Utility. With this support utility, you can upgrade the firmware, reset devices to factory settings, adjust IP settings, scan and connect to wireless Internet networks and view current system settings. The Utility uses a proprietary communication protocol to connect to the Smart Repeater without having to know the correct IP settings. With data transfer rate of up to 300Mbps, the HOW2R1 is an ideal solution for high performance wireless network environment, extending the wireless signals within the large houses or businesses, or providing wireless access to the yards and other harsh environments.

By Ki Grinsing