Hilton Hotels Corp. Recognized as Leader in Implementing a Balanced Scorecard
BEVERLY HILLS, Calif. / Sept. 27, 2000--Today, Balanced Scorecard Collaborative, the professional services firm that facilitates the worldwide awareness, use, enhancement and integrity of the Balanced Scorecard as a value-added management process, presented Hilton Hotels Corp.
Other selection criteria were: implement the Balanced Scorecard as defined by the Kaplan/Norton methodology; present the case at a public conference; achieve media recognition for the scorecard implementation; produce significant financial or market share gains; and demonstrate measurable achievement of customer objectives. Verizon Communications and Duke University Children's Hospital were recognized along with Hilton.
"We're honored to be recognized by the founders of the Balanced Scorecard methodology," according to Dieter Huckestein, president, hotel division of Hilton Hotels Corp. "The Balanced Scorecard has become an integral part of our operating philosophy embraced by all our brands systemwide and motivates team members to achieve higher levels of performance by keeping everyone focused on results.
"By year-end, we will have advanced to the next level in our Balanced Scorecard journey with 'drill-down' reports so each operating department can track their own individual scorecard.
"With this development, we'll enhance our leadership within the hospitality industry as our hotel and support staff will be able to instantly extract and aggregate relevant financial, competitive industry benchmarks, and customer and team member loyalty data using software developed by CorVu, a global provider of enterprise e-Business performance management and balanced scorecard solutions."
The Balanced Scorecard approach has helped Hilton achieve the highest operating profit margins vs. its competitors while increasing market share. Moreover, Hilton's internal customer loyalty and brand measures have steadily improved in the 3 years since adopting a Balanced Scorecard approach to performance measurement.
Externally, the independent American Customer Satisfaction Index conducted by the University of Michigan Business School and the American Society for Quality ranked Hilton and its family of brands as No. 1 in customer satisfaction in the hospitality segment in May 2000.
A stunning Steuben crystal rising star, designed by Robert Cassetti, was presented to Huckestein by Balanced Scorecard creators Dr. Robert Kaplan and Dr. David Norton at the Balanced Scorecard Collaborative North American Summit: "Driving Breakthrough Performance in the New Economy." (EDITORS: Photo available upon request.)
About Hilton Hotels Corp.
Hilton Hotels Corp. is recognized internationally as a preeminent hospitality company. The company develops, owns, manages or franchises more than 1,800 hotels, resorts and vacation ownership properties.
Its portfolio includes many of the world's best known and most highly regarded hotel brands, including Hilton, Doubletree, Embassy Suites, Hampton Inn, Hampton Inn & Suites, Harrison Conference Centers, Hilton Garden Inn, Homewood Suites by Hilton, Red Lion Hotels & Inns and Conrad International. For more information on our family of brands, visit www.hilton.com.
About Hilton Hotels Corp.
About Balanced Scorecard Collaborative
Balanced Scorecard Collaborative Inc. (BSCol) is a professional services firm that facilitates the worldwide awareness, use, enhancement and integrity of the Balanced Scorecard as a value-added management process.
Founded and led by the creators of the Balanced Scorecard concept, Kaplan and Norton, BSCol provides a global center of Balanced Scorecard excellence through consulting, conferences, training, publishing, research, certification and online services. For more information, call 781/259-3737, or visit .
About the Balanced Scorecard
The Balanced Scorecard (BSC) is a framework for creating Strategy-Focused Organizations. The BSC helps to describe, implement, and manage strategy at all levels of an enterprise by linking objectives, initiatives and measures to an organization's strategy.
The scorecard provides an enterprise view of an organization's overall performance by integrating financial measures with other key performance indicators around customer perspectives; internal business processes; and organizational growth, learning and innovation.
Since the concept was introduced by Kaplan and Norton in 1992, BSCs have been implemented at corporate, business unit, shared services, team and individual levels at hundreds of private and public sector organizations worldwide.
The BSC has been the subject of four articles in Harvard Business Review, more than 150 articles in business publications, two best-selling business books (now in 18 languages), numerous Harvard Business School case studies, and public conferences around the world.