The balanced scorecard in the South African hotel industry

 

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dc.contributor.advisor Uliana, Enrico en_ZA
dc.contributor.author Esekow, Jeremy en_ZA
dc.date.accessioned 2014-09-29T07:24:00Z
dc.date.available 2014-09-29T07:24:00Z
dc.date.issued 2001 en_ZA
dc.identifier.citation Esekow, J. 2001. The balanced scorecard in the South African hotel industry. University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/7712
dc.description Bibliography: leaves 137-141. en_ZA
dc.description.abstract The hotel industry is one where success or failure largely depends on service quality. To control financial performance in such an environment, management must be aware of the need to closely monitor and control this non-financial aspect. This does not appear to have been the case to date. The Hotels and Leisure Sector of the Johannesburg Stock Exchange is one of the poorest performing, with the hotel groups having fared the worst. An oversupply of hotel rooms, the increasing availability of alternative forms of accommodation and a perceived decline in service standards are amongst the threats causing these unfortunate results. Management action is thus necessary to survive and prosper in the face of these current challenges. A case has already been made for the necessity of employing the use of non-financial indicators in the management of most organizations. The use of such indicators within a structured management system has proven to yield better information for decision-making and control than merely adding a selection of indicators to an existing financial reporting framework. Several structured management control systems exist. It is suggested that the balanced scorecard, where overall organizational strategy is linked to individual goal setting and action, is a highly effective management tool within a hotel environment. The measurement of performance relating to customer, service process and infrastructural goals within the standard key perspectives of a balanced scorecard enables a hotel manager to better control the intangible service process. Thus guest - staff interaction can be successfully controlled in line with the hotels strategy, while at the same time, environmental challenges will have been built into the goal setting equation. The balanced scorecard has been implemented successfully in several hotel groups internationally, proving its suitability to the industry. It is thus recommended as a solution to the ailing South African hotel industry. en_ZA
dc.language.iso eng en_ZA
dc.title The balanced scorecard in the South African hotel industry en_ZA
dc.type Master Thesis
uct.type.publication Research en_ZA
uct.type.resource Thesis en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce en_ZA
dc.publisher.department College of Accounting en_ZA
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom en_ZA
uct.type.filetype Text
uct.type.filetype Image
dc.identifier.apacitation Esekow, J. (2001). <i>The balanced scorecard in the South African hotel industry</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,College of Accounting. Retrieved from http://hdl.handle.net/11427/7712 en_ZA
dc.identifier.chicagocitation Esekow, Jeremy. <i>"The balanced scorecard in the South African hotel industry."</i> Thesis., University of Cape Town ,Faculty of Commerce ,College of Accounting, 2001. http://hdl.handle.net/11427/7712 en_ZA
dc.identifier.vancouvercitation Esekow J. The balanced scorecard in the South African hotel industry. [Thesis]. University of Cape Town ,Faculty of Commerce ,College of Accounting, 2001 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/7712 en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Esekow, Jeremy AB - The hotel industry is one where success or failure largely depends on service quality. To control financial performance in such an environment, management must be aware of the need to closely monitor and control this non-financial aspect. This does not appear to have been the case to date. The Hotels and Leisure Sector of the Johannesburg Stock Exchange is one of the poorest performing, with the hotel groups having fared the worst. An oversupply of hotel rooms, the increasing availability of alternative forms of accommodation and a perceived decline in service standards are amongst the threats causing these unfortunate results. Management action is thus necessary to survive and prosper in the face of these current challenges. A case has already been made for the necessity of employing the use of non-financial indicators in the management of most organizations. The use of such indicators within a structured management system has proven to yield better information for decision-making and control than merely adding a selection of indicators to an existing financial reporting framework. Several structured management control systems exist. It is suggested that the balanced scorecard, where overall organizational strategy is linked to individual goal setting and action, is a highly effective management tool within a hotel environment. The measurement of performance relating to customer, service process and infrastructural goals within the standard key perspectives of a balanced scorecard enables a hotel manager to better control the intangible service process. Thus guest - staff interaction can be successfully controlled in line with the hotels strategy, while at the same time, environmental challenges will have been built into the goal setting equation. The balanced scorecard has been implemented successfully in several hotel groups internationally, proving its suitability to the industry. It is thus recommended as a solution to the ailing South African hotel industry. DA - 2001 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2001 T1 - The balanced scorecard in the South African hotel industry TI - The balanced scorecard in the South African hotel industry UR - http://hdl.handle.net/11427/7712 ER - en_ZA


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