Johan Lindholm - CEO, Silkpath Hotels & Resorts
"WEATWORK gives me powerful tool-sets to not only self-transform but also transform our owners & investors' mindsets over SilkPath's Business Models, Restructuring Strategies & how to smartly lead them"
"The most important model brought by WEATWORK was the alignment among various elements of Business Balanced ScoreCard - BSC. Any business can come up with a BSC yet not all of them are able to connect the dots of how a hotel could transform from one model to another
With just a one-pager, every time meeting with our investors, we use the model to persuade them to make decisions towards the long/short-term goals based on the alignment among other factors in BSC"
- See BSC Alignment BEFORE & AFTER by Weatwork below -
About Silkpath
a boutique hotel collection
in Vietnam’s captivating heritage destinations
The Silk Path hotel chain was started in 2010 as one of the most cherished names in Hanoi hospitality. It started with Silk Path Hotel Hanoi, the first four-star hotel in the Old Quarter. Five years later we moved forward with a different concept in the same city: The Silk Path Boutique Hanoi.
Then two Grand hotels in two additional heritage cities: The Silk Path Grand Sapa Resort & Spa in 2017 and the Silk Path Grand Hue Hotel & Spa in 2020. Each one embodies the destinations that they’re in. Sapa is home to a colorful tapestry of highland ethnic minority cultures where the hotel is a mountain resort with flower gardens and spectacular views. Hue was once the imperial capital of Vietnam where Silkpath is located on a heritage street with views of the city’s sweeping river.
In 2017, the new young owner wanted to bring international accommodation standards to the entire chain, offering personalized service and elevating the guest experience, together with the onboarding of the new CEO who owns a wide range of global hospitality experiences from Hilton, Sheraton, etc.
WEATWORK.CO was invited to support the transformational effort, with a focus on the evaluation & recommendation of organizational redesign & manpower quality for the entire hotel chain.
The problem
Short-term goals and long-term goals mixed up
Leader No.1:
However why was a CEO leaving a company just after 10 days? Or within 8 months, 15 C-level leaders left a corporation, making a historic record-hitting executive turnover in Vietnam?
This is because one or both sides break the promises of long-term cooperation during the interview or on the first day at work. After few weeks or few months, either C-level leaders or owners realized the other side doesn't have the ability to communicate the LONG-TERM or SHORT-TERM goals the business plan need to target, and especially how to achieve the goals?
There are two typical cases in this misperception. One is the C-level employees failed to show owners/investors a great plan to achieve the long-term goals. Two is the owners actually never think that far about long-term goals. If CEO brought in a very well-structured business plan for long-term development, owners said it is too ambitious or too much to invest. If CEO came up with a feasible one, it depends on how timely & how consistent owners provided resources for executing the agreed business plan.
The
Top-down business goals are the most important element
On the first day at work, or even during the job interview, any C-level executives & his/her employers made a great impression that they will work with each other in long term. Simply because both sides are together looking forward to a long-term business prospect. No one just thinks of few weeks or few months of cooperation as they both know how costly it is to hire & fire an executive in a demanding & competitive labor market.
However why was a CEO leaving a company just after 10 days? Or within 8 months, 15 C-level leaders left a corporation, making a historic record-hitting executive turnover in Vietnam?
This is because one or both sides break the promises of long-term cooperation during the interview or on the first day at work. After few weeks or few months, either C-level leaders or owners realized the other side doesn't have the ability to communicate the LONG-TERM or SHORT-TERM goals the business plan need to target, and especially how to achieve the goals?
There are two typical cases in this misperception. One is the C-level employees failed to show owners/investors a great plan to achieve the long-term goals. Two is the owners actually never think that far about long-term goals. If CEO brought in a very well-structured business plan for long-term development, owners said it is too ambitious or too much to invest. If CEO came up with a feasible one, it depends on how timely & how consistent owners provided resources for executing the agreed business plan.