The Balanced Scorecard and Competitiveness in the Hospitality Industry

The Balanced Scorecard and Competitiveness in the Hospitality Industry

Patrícia Rodrigues Quesado
Copyright: © 2022 |Pages: 28
DOI: 10.4018/978-1-7998-9285-4.ch003
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Abstract

The objective of the chapter is to provide an insight into the potential of the BSC, as a performance evaluation and strategic management tool, to improve the hospitality industry's competitiveness. To fulfil this objective, a qualitative methodology will be followed, based on a systematic review of the literature published on the subject in question. The main contribution of the chapter is to gather information that will enable hospitality industry managers to focus on their essential issues, evaluating their performance in a more realistic way, and enabling strategic management. In addition, it will be possible to draw a general profile of the scientific production on the BSC in the hospitality industry, providing historical and statistical data to strengthen future studies in this area of knowledge.
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Background

In current market dynamics, the emphasis on financial aspects has lost weight, giving way to a less restrictive and more holistic view of performance. With technological progress, innovative technologies and sophisticated production methods have emerged, competition and customer demands have increased. At a time of significant changes in the world, characterised by the globalisation of markets, economic instability, and information technologies' evolution, organisations were forced to develop their self-learning capacity. Thus, companies seek innovation. They aim to better productivity rates, through improved performance, differentiation, the creation of new products or services with added value, and high quality in the products and services provided (Quesado & Marques, 2020).

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