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Performance Measurement in the Travel and Tourism Sector Paper

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Literature Review 1

Performance Measurement in the Travel and Tourism Sector

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University

City, State

Date

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Literature Review 2

Performance Measurement in the Travel and Tourism Sector

Introduction

Although performance measurement in the past decade has observed an increase in

support across a wide variety of industries, few literatures and research studies have been

conducted on how performance measurement can be designed and implemented in the travel

and tourism sector. Consequently, performance measurement has not been implemented

effectively as a tool for transforming the travel and tourism sector organizational missions

into practical goals. Nonetheless, numerous publications and studies have focused on how

Balanced scorecards as a key performance measurement area can be used to come up with

appropriate operational metrics that can measure hotels and hospitality firms operational

performance. Accordingly, the focus has been on measuring customer satisfaction, fixed-cost,

learning and growth outcomes, interest expenses, and internal business components (Denton

& White, 2000, p. 94; Elbannaa, Eidb, & Kamel, 2015, p. 105). Most notably, there is the

lack of proper definition of applicable metrics in terms of travel and tourism sector corporate

strategy, in addition to overreliance on quantitative indicators that are short-term like

performance pyramids, intangible-asset scoreboards, or performance prism. As observed by

Phillips (2007, p. 732), qualitative performance metrics are historical whereas quantitative

metrics provide a perspective of the future and thus aid in redefining strategy. Secondly, these

performance measurement frameworks do not take into consideration that present economic

environment is competitive, and thus calls for a stronger emphasis on attaining and

maintaining a competitive advantage through explicit connection between strategy and

performance measures. Thus, the aim of this paper is to offer a comprehensive up-to-date

literature review on performance measurement in the travel and tourism sector.

Discussion

In their review of previous research on hospitality industry performance measurement

tools, Sainaghia, Phillips, & Corti (2013, p. 920) commented on the growing trend towards

applying both quantitative and statistical methods of measuring organizational performance.

These quantitative multidimensional tests like that of Elbannaa, Eidb, & Kamel, 2015, p. 105;

Min , Min , & Joo, 2008, p.350) reveals how BSC usage results in effective and efficient

organizational performance. Although the travel-and-tourism sector performance

measurement scholars have conducted empirical research there is no comprehensive

theoretical frameworks. As a result, most of the performance indicators come from internal

variables such that the studies focus almost exclusively on external variables. Hence, gaps do

exist between the indicators being researched on and the empirical findings such that they

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Literature Review 1 Performance Measurement in the Travel and Tourism Sector By Subject Instructor University City, State Date Literature Review 2 Performance Measurement in the Travel and Tourism Sector Introduction Although performance measurement in the past decade has observed an increase in support across a wide variety of industries, few literatures and research studies have been conducted on how performance measurement can be designed and implemented in the travel and tourism sector. Consequently, performance measurement has not been implemented effectively as a tool for transforming the travel and tourism sector organizational missions into practical goals. Nonetheless, numerous publications and studies have focused on how Balanced scorecards as a key performance measurement area can be used to come up with appropriate operational metrics that can measure hotels and hospitality firms operational performance. Accordingly, the focus has been on measuring customer satisfaction, fixed-cost, learning and growth outcomes, interest expenses, and internal business components (Denton & White, 2000, p. 94; Elbannaa, Eidb, & Kamel, 2015, p. 105). Most notably, there is the lack of proper definition of applicable metrics in terms of travel and tourism sector corporate strategy, in addition to overreliance on quantitative indicators that are short-term like performance pyramids, intangible-asset scoreboards, or performance prism. As observed by Phillips (2007, p. 732), qualit ...
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Tags: performance measurement Travel Tourism hospitality management