Designing the strategy map for hotels with key performance indicators of balanced scorecard using DEMATEL technique Online publication date: Mon, 25-Jul-2016
by Devkant Kala; S.C. Bagri
International Journal of Business Excellence (IJBEX), Vol. 10, No. 2, 2016
Abstract: Performance measurement has become a part of the necessary requirement for hotels to operate successfully and to create competitive advantages in the dynamic environment. Balanced scorecard (BSC), a system which enables organisations to measure and manage corporate performance, has attracted much attention by researchers and practitioners as a method of integrating financial and non-financial performance measures. The present study attempts to design the strategy map for hotels using key performance indicators from BSC perspective. The decision making trial and evaluation laboratory (DEMATEL) method is utilised to determine relationships between the performance indicators and to construct a strategy map with logical links to improve hotel performance. The constructed strategy map using DEMATEL technique would help hotel entrepreneurs and managers in investing valuable resources, prioritising performance indicators and making effective strategic initiatives to improve organisational performance. The present study also reveals that although financial indicators are important, the focus on non-financial indicators may offer greater opportunities for measuring the hotel effectiveness in the long term.
Online publication date: Mon, 25-Jul-2016
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