ABSTRACT Many business owners and leaders do not know their business performance model, fail to know how their business is performing and therefore are at a loss on how to sustain their business in a timely manner. There is negligible literature or evidence to suggest that business models are a critical tool to sustain business performance within the increasingly disruptive environment specifically surrounding the hospitality industry. This perhaps reflects a lack of embracing the performance management approach in the hospitality sector due to a number of perceived reasons and barriers. Moreover, where performance models are being used they tend to be a poor fit, fuelling high business failure rates in hospitality businesses.This paper is reflective of an early stage research project and reviews the current literature on business performance models and evaluates the current scholarly and practitioner thinking around the design of a ‘best-fit’ performance model for hospitality businesses. The paper will explore, using the authors experience, why many hospitality businesses do not harness an operational business performance model and examine the potential outcomes for hospitality business success if ‘best fit’ operational performance models were to be widely harnessed. Finally, the paper proposes further research to validate the use of flexible business models in hospitality businesses and beyond.
|Title of host publication||Unknown Host Publication|
|Number of pages||17|
|Publication status||Accepted/In press - 24 Apr 2016|
|Event||COUNCIL FOR HOSPITALITY MANAGEMENT EDUCATION'S (CHME) ANNUAL RESEARCH CONFERENCE 4-6th MAY 2016 BELFAST - Ulster University Business School - Belfast Campus|
Duration: 24 Apr 2016 → …
|Conference||COUNCIL FOR HOSPITALITY MANAGEMENT EDUCATION'S (CHME) ANNUAL RESEARCH CONFERENCE 4-6th MAY 2016 BELFAST|
|Period||24/04/16 → …|
- bespoke business performance models
- sustaining hospitality business.