Not long ago, we discussed about the gap between strategy execution and alignment as well as ways to bridge the gap with the Balanced Scorecard. Technology plays an important role in facilitating strategic performance management. A scorecard-enabled solution must support a number of management processes. The critical processes outlined by the Cranfield School of Business (2003) are:

During the economic downturn, many families decided that the prudent thing was to downsize their lives by purchasing smaller homes and vehicles, but most importantly, by simplifying their lives. Similarly, hotel companies also downsized, frequently letting staff go, which created additional pressure on remaining staff to hold the company and its underlying technology together.

According to Vietnam National Administration of Tourism (VNAT), the total number of international tourists in 2012 reached 6,847,678, representing a 13.86% growth year on year. This year, the Vietnamese tourism industry “planned to welcome 7.2 million international visitors and 35 million domestic passengers, and is targeting a total revenue of VND190 trillion (equivalent to US$9.5 billion).” Not too long ago, we discussed some competitive criteria necessary for hospitality businesses to stay ahead in the game. Now we will zoom in on the hotel industry and take a closer look at trends in Vietnam and around the world.

In the previous 2 entries, we discussed what Governance, Risk and Compliance means and how to effectively deploy a GRC plan. But how do you know you are on the right track and what GRC software tools are available to help you?