San Jose, CA (PRWEB) January 23, 2013
Doubling its profit from $ 149 M to $ 306 M over a 4 year period was the result of Marriott Vacation Club International’s (MVCI) plan to link strategy with operational objectives. Senior management created a strategic planning team to make a coordinated “improvement map”, called a Strategy Map, and used the Balance Scorecard methodology, which is now supported by Biz Performance Solutions (BPS).
According to Professor Robert Kaplan’s book, “Premium Execution”, by Harvard University Press, MVCI increased its’ revenue from $ 149 M to $ 306 M over 4 years, averaging a 20% profit increase per year by aligning its’ strategy with operational objectives. Robert Kaplan is the “father” of the Balanced Scored methodology, which is now supported by BPS.
Previously MVCI had 100’s of business initiatives but substantial improvements were not occurring because gains were not leveraged or integrated across the various business group. Senior management created a strategic planning team to make a coordinated “improvement map”, a Strategy Map, and used Balanced Scorecard’s as the key measurement tool. By focusing on the strategy – eliminating initiatives that did not contribute or align with their strategy, and by ensuring every employee’s personal objectives were linked to the strategy, rapid and substantial gains were achieved. Non-strategic initiatives were eliminated avoiding non-productive effort and un-focused investments. The use of Balanced Scorecards the quantify success reengineering got measurable infrastructure improvements in all areas of their business. Customer’s satisfaction ratings rose 70%. Employees now clearly saw and understood their role in the corporate strategy. The methods/maps used by MVCI are now supported by PBS.
Using Biz Performance Solutions’ Value Creator, a unique blend of strategic planning and life cycle management software ,which supports the Balanced Scorecard methodology, including real time return on investment, as well as other leading methodologies such as PMBOK,ITIL, and ISO 9000, Trisha Buyer of PhoCusWright, a Northstar Travel Media company, the leading business information and marketing solutions provider to the $300 billion U.S. travel, tourism and meetings industries, recommended the software application, saying “We have consolidated many, many, many manual spreadsheets into this platform and to have instantaneous accurate reporting on costs, time management and project status form within the platform we are all utilizing makes this product phenomenal. Even our outside auditors have complemented the product, as they can confirm revenue recognition with one report, run on demand, with no need to verify the data. Implementation was a lot less painful as the vendor spent a lot of time understanding our needs up front and working out a development plan that fit not only our business needs, but our budget ones as well.” PhoCusWright used the Value Creator’s real time return on investment to show sales people the margin on a deal and the target margin for deals.
Biz Performance Solutions is a leader in cloud based Innovation Management solutions providing applications and services to organizations that improves strategic alignment, including IT benefits, as well as profitability by way of effective and efficient management of the due-diligence and innovation pipeline, by using a series of performance dashboards that include market segmentation, competitors, partners, proforma and zero-based budgets, and by using process automations, including real-time return on investment and risk assessment.