The balanced scorecard in the South African hotel industry

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dc.contributor.advisorUliana, Enricoen_ZA
dc.contributor.authorEsekow, Jeremyen_ZA
dc.date.accessioned2014-09-29T07:24:00Z
dc.date.available2014-09-29T07:24:00Z
dc.date.issued2001en_ZA
dc.descriptionBibliography: leaves 137-141.en_ZA
dc.description.abstractThe 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.identifier.apacitationEsekow, 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/11427/7712en_ZA
dc.identifier.chicagocitationEsekow, 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/11427/7712en_ZA
dc.identifier.citationEsekow, J. 2001. The balanced scorecard in the South African hotel industry. University of Cape Town.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
dc.identifier.urihttp://hdl.handle.net/11427/7712
dc.identifier.vancouvercitationEsekow 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/11427/7712en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentCollege of Accountingen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.titleThe balanced scorecard in the South African hotel industryen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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