Maverick Lodging Case Analysis - 1710 Words

Maverick Lodging Case Study Notes * 1/2000: VP of Asset Management (Cindy Baum) was reviewing the 1999 balanced scorecard results for Maverick Lodging; she had developed amp; implemented the balanced scorecard throughout 1998 * 1999: first full year of results using the balanced scorecard approach * Designing a balanced scorecard had been a considerable challenge because of the complicated nature of the hotel industry * Maverick Lodging: managed hotels on behalf of 3rd party owners who had franchise agreements with Marriott * Maverick concentrated on managing 3 specific types of Marriott properties: Fairfield Inns, Courtyards, amp; Resident Inns * Fairfield amp; Courtyards: offered typical†¦show more content†¦emedy this * The balanced scorecard was implemented at the hotel level, amp; was used as a management control/ performance measurement system for each hotel’s general manager (typically 25-35 years old w/a college degree but little management experience) * As a result, Baum felt that the balanced scorecard needed to be comprehensive but not overly complex Designing Maverick’s Balanced Scorecard * Baum involved the 4 other VPs amp; 3 regional managers in the balanced scorecard design process; there was considerable disagreement, but the entire team agreed to create a scorecard with the following attributes: * Tracks financial performance; * tracks non-financial measures important for LT growth amp; value creation; * communicates franchisees’/owners’ objectives for growth, profitability amp; physical maintenance; * is understandable amp; acceptable to hotel general managers amp; it provides them w/useful amp; relevant info; * is understandable, useful, amp; relevant to management Balanced Scorecard as a Performance Measurement System * Prior to the introduction of the balanced scorecard, the regional managers had a great deal of discretion in determining the amount of each hotel manager’s bonus * Average bonus ranged between 20-40% of the hotel managers $40,000-$50,000 salary * Bonus depended on size of bonus pool, hotel profitability, amp; the regional manager’s assessment of the hotelShow MoreRelatedMaverick Case968 Words   |  4 PagesCase 4 Maverick Lodging Objective The Maverick Lodging case concerns the initial results of installing a new, comprehensive performance review system. As a consultant to Maverick Lodging and the Marriott Corporation, your task is to evaluate the efficacy of the new performance evaluation system. Your direct point of contact is Ms. Cindy Baum who was responsible for managing the rollout of the new performance evaluation system. Assignment Value 10 % of your grade Approach †¢ Point of View:Read MoreMaverick Lodging Case Essay949 Words   |  4 Pages2014 SUBJECT: MAVERICK LODGING CASE Year 1999 Analysis In 1999, the Maverick Lodging company implements balanced scorecard to establish a measurement system and control the hotel level management. The balanced scorecard has several attributes, such as tracking financial performance, tracking nonfinancial measures and communicating franchisees and owners objectives of growth. For financial performance, according to Exhibit 7, the Maverick Courtyard has 3.77% growth rate, Maverick Fairfield InnRead MoreMaverick Lodging Essay3067 Words   |  13 PagesAn Analysis of Maverick Lodging Abstract Maverick Lodging is a hotel management company that manages the day-to-day operations of third party franchisees of the Marriott Corporation. The company has recently implemented a balanced scorecard in an effort to align company strategy, structure, performance measurements, and incentives. The organization strategy involves growth in revenue and customer base with the use of differentiation. Issues with the current scorecard and its measures haveRead MoreManaging Global Expansion7295 Words   |  30 Pages(of research facilities, production centers, and so on) exceeds the sales volume feasible within one country, a company with global presence will have the potential to create a cost advantage relative to a domestic player within that industry. The case of Mercedes-Benz now a unit of DaimlerChrysler, illustrates this principle. Historically, Mercedes-Benz has concentrated its research and manufacturing operations in Germany and has derived around 20 percent of its revenues from the North AmericanRead MoreCase Studies67624 Words   |  271 PagesCase Studies C-1 INTRODUCTION Preparing an effective case analysis C-3 CASE 1 CASE 2 CASE 3 CASE 4 CASE 5 CASE 6 CASE 7 ABB in China, 1998 C-16 Ansett Airlines and Air New Zealand: A flight to oblivion? C-31 BP–Mobil and the restructuring of the oil refining industry C-44 Compaq in crisis C-67 Gillette and the men’s wet-shaving market C-76 Incat Tasmania’s race for international success: Blue Riband strategies C-95 Kiwi Travel International Airlines Ltd C-105 CASE 8 Beefing up the beeflessRead MoreOverview of Hrm93778 Words   |  376 Pagesdesigned to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed