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The Application of Balanced Scorecard in Hospitality Industry PDF
By:Caroline Mutuku
Published on 2018-05-28 by GRIN Verlag

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Seminar paper from the year 2018 in the subject Economy - Health Economics, grade: 1, , language: English, abstract: This essay will focus on the use of BSC in the hospitality industry, and our case study the Hilton Hotels worldwide. The essay will show how BSC has been used in Hilton Hotel to measure the company performance. It will also discuss how the management compensation plan has been linked with the BSC. The increase in competition in the hospitality industry for instance, in the hotel sector has attracted interest in quality improvement and implementation of performance measurement systems in these organizations so as to achieve a competitive advantage in the global market. A good example of the performance measurement system is the use of the Balanced Scorecard (BSC) to translate the strategic goals of the company for instance, research and development into performance measures. Continuous quality improvement in the hospitality industry is essential and it has been used by managers to measure their performance in four different perspectives, customer, financial, internal business process, and learning and innovation. BSC is important to managers because it helps them achieve their strategic goals in one area without having to hurt the other area. On that note, BSC has been used by managers to overcome strategic management problems because BSC is strategy-driven hence important in the implementation of a business strategy.

This Book was ranked at 41 by Google Books for keyword Hospitality business.

Book ID of The Application of Balanced Scorecard in Hospitality Industry's Books is uqNdDwAAQBAJ, Book which was written byCaroline Mutukuhave ETAG "49XRdeY83Oc"

Book which was published by GRIN Verlag since 2018-05-28 have ISBNs, ISBN 13 Code is 9783668711631 and ISBN 10 Code is 3668711631

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Book which have "9 Pages" is Printed at BOOK under CategoryBusiness and Economics

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