A data envelopment analysis on assessing the competitiveness of Korean hotels

With the ever-rising cost of doing business and increased competition, many hotels have experienced financial difficulties resultant from a gradual decline in profit and market share. Since the financial health of the hotel affects its investment capability in constantly improving customer services, the service performance and the subsequent competitiveness of the hotel often reflect its financial efficiency. As such, there is a growing need to assess the financial efficiency of the hotel in comparison with its competitors. To meet such a need, this paper proposes a data envelopment analysis (DEA) that develops a meaningful set of benchmarks that will dictate best practices and form a successful hotel business model. Using the examples of 31 luxury and budget hotels in Korea, this paper illustrates the usefulness of DEA for the continuous improvement of hotel business practices.     

酒店企业相对效率的定量评价方法

中国酒店业迅速增长的规模总量与其经营效益持续下滑形成鲜明的对比,随着外商投资政策壁垒的消除,国际饭店集团已经加快进入中国的步伐,以“网络化、国际化、品牌化”为主题的酒店业的竞争更加激烈。提高酒店的投入产出比,提高经营效益是实现酒店业可持续发展的根本途径。     

An efficiency and effectiveness model for international tourist hotels in Taiwan

Taiwan's economic growth has improved the quality of life and raised the standard of the tourism industry in Taiwan. This paper selects the hotel industry, in order to assess how international tourist hotels operate their business by applying data envelopment analysis (DEA) to measure their operational efficiency and effectiveness. By using the DEA model to assess the results of the relative efficiency and effectiveness of hotels to improve their operations, the paper also aims to rank the hotels by applying the VlseKriterijumska Optimizacija I Kompromisno Resenje method combined with entropy weight among the criteria.     

Globalising the hotel industry 1946–68: A multinational case study of the Intercontinental Hotel Corporation

This article employs one case study, of Intercontinental Hotel Corporation, to examine the globalisation of the hotel industry between 1946 and 1968. The results show that the advent of multinational hotel development was characterised by the importance of government policies in shaping multinational expansion, whose trajectory was also closely related to the growth of the airline industry, underpinned by consumer demand change. This historical analysis illuminates capabilities specific to a firm as well as the entry mode and locations selected for international expansion as important factors in driving financial performance. Finally, this study contributes to the international business and business history literature by exploring international business development in the context of a small sample size and longitudinal approach.     

Managing Flexible Working in Hotels

Flexible working practices have apparently helped manufacturing industry make productivity improvements over and above the service sector. These manning practices may offer opportunities for the hotel industry to improve its own productivity and at the same time counter the industry's reputation for providing poor conditions of employment. This article discusses the results of research conducted in two large hotels into the attitudes of management and employees to the introduction of such practices. Although some barriers to flexible working are identified, the research also highlights that opportunities do exist for successful implementation of these approaches. However, the major obstacle in adopting flexible working would appear to be the management culture of the hotels studied and the industry in general.     

From Management Systems to Corporate Social Responsibility

At the start of the 21st century, Corporate Social Responsibility (CSR) seems to have great potential for innovating business practices with a positive impact on People, Planet and Profit. In this article the differences between the management systems approach of the nineties, and Corporate Social Responsibility are analysed.An analysis is structured around three business principles that are relevant for CSR and management systems: (1) doing things right the first time, (2) doing the right things, and (3) continuous improvement and innovation. Basically CSR is focussing on the second principle, and management systems focus on the first. However, CSR is very likely to build on the management systems as well.From a CSR point of view, the existing generation of management systems with their focus on rational control (= doing things right) can only be of limited use in the development of CSR. However, the preventive rationalities of management systems are important. Values and the principle doing the right things is extremely relevant for CSR. This goes far beyond the present generation of ISO type management systems; opportunities stem from building on TQM approaches like the EFQM Business Excellence model. Continuous improvement and innovation is a permanent challenge underlying the two other business principles, and requires both individual and organisational learning processes. In the present generation of management systems, continuous improvement mainly addresses rational prevention, barely the value aspects of business.For the further development and implementation of CSR, each of the three business management principles are vital. There is a need for a new generation of management systems that addresses the values at stake in strategic decision-making, both at company level and in the behaviour of individuals, while the rationalities of prevention and anticipation are still relevant. In both directions more emphasis for continuous learning and innovation will be needed.CSR is likely to trigger the development of management systems in the directions mentioned. This will support companies to be credible and transparent in improving the performance with respect to people, planet and profit.     

Predicting hospitality financial distress with ensemble models: the case of US hotels,restaurants, and amusement and recreation

The importance of industry-specific characteristics in financial distress is widely acknowledged, but often overlooked by researchers studying the hospitality industry. The primary objective of this paper is to investigate the key determinants of US hospitality firms’ financial distress between 1988 and 2010 using ensemble models. The data used in this study come from the Compustat database produced by Standard and Poor’s Institutional Market Services. The data were collected from three hospitality-related segments, 5812 eating Places, 7011 hotels and motels, 7990 amusement and recreation services not elsewhere classified according to Standard Industrial Classification. In the restaurant-stacking model, debt-to-equity ratio, growth in owners’ equity, net profit margin, and stock-price trend were chosen as financial distress predictors. In the hotel stacking model, debt-to-equity ratio, stock-price trend, and account receivable turnover were selected as financial distress predictors. In the amusement and recreation-stacking model, debt-to-equity ratio, growth in owners’ equity, net profit margin, and management practice were defined as significant financial distress predictors. Although many researchers have stressed that an ensemble method, which combines the characteristics and advantages of particular models, may improve the performance or interpretability of predictive methods, few hospitality financial distress prediction studies employed ensemble methods. This study demonstrates its originality in this perspective.     

酒店服务创新与价值提升路径分析——基于价值链理论

通过分析酒店创新与价值提升路径,对于我国酒店业的价值提升具有积极的指导意义。借鉴价值链理论,通过对比一般企业与服务业价值链的构成和实现过程,分析了酒店服务企业的价值构成。在此基础上,分析酒店价值提升路径框架,并提出了酒店创新以及价值提升的建议。     

我国经济型酒店外包业务的功效及管理策略

经济型酒店的经营突出专业化与社会化的特点,主要以客房服务为其核心业务,其他如餐饮、洗衣等为配套服务。为了提高经济型酒店的运作效率,需采取非核心业务外包的方式。在分析经济型酒店实施外包的目的和潜在风险的基础上,提出经济型酒店要明确实施外包的条件、科学合理的选择外包专业公司、签订完善的外包合同,明确合作双方的责权利的管理策略。     

Benchmarking sales staffing efficiency in dealerships using extended data envelopment analysis

This study presents an approach to benchmark dealer performance in a business-to-business setting through a rigorous efficiency analysis of sales staff allocation. Using a series of basic and extended data envelopment analysis (DEA) models on data collected from a survey of self-reported financial and statistical information, this research assesses dealer efficiency and compares the efficiency scores to traditional financial benchmarking. Findings support the minimization of outsourcing services that are customer interactive and highly specific to a transaction to differentiate the dealer from its competition. Integrating the results from DEA models, manufacturers obtain a comprehensive view of allocating sales staff to increase dealer efficiency and generating a complementary approach to traditional financial ratio benchmarking in determining best practices to other dealers.     

Implementation of yield management practices in service organisations: empirical findings from a major hotel group

This article presents findings on the development and implementation of a centralised yield management project by an international hotel group in its over 160 hotel units. Data were collected over two years from the participant hotel group's three management levels through semi-structured interviews, observations and document analysis. The research findings reveal that developing and implementing a centralised yield management project is contextually a very complex and challenging task. Major problems and difficulties appear to have originated from the participant company's organisational structure and culture. In addition, a high labour turnover, poor HRM practices, ongoing developments and changes across the company seem to have had an impact on the implementation of yield practices. The existing literature on yield management seems to view yield implementation as a tactical activity and therefore fails to explain the strategic implications of deploying yield practices in service organisations. The overall recommendation of this article are that scholars and practitioners working in this area should view yield implementation more from the perspectives of strategic management and change management fields.     

Strategic Choice of Sales Channel and Business Model for the Hotel Supply Chain

In this paper, we study whether a hotel should cooperate with an independent online travel agency (OTA) to sell rooms, and, if yes, using what business model—the Merchant model or the Agency model. In the Merchant model, the OTA purchases rooms at a discount wholesale price and sells them at a profit, but takes on the risk of having unsold inventory. In the Agency model, the OTA passes reservations booked by its customers to the hotel and receives an agreed commission fee on each transaction. We demonstrate that there is no one strategy tailored to all situations: the choices of channel and business model are closely tied to certain conditions, like the hotel’s room capacity, consumer acceptance of the OTA channel, the increase in market size with the OTA channel and the commission rate charged by the OTA. The hotel’s equilibrium strategy indicates that adding the OTA channel does not increase the hotel’s profit if the hotel’s capacity, the increase in market size with the OTA channel, and consumer acceptance of the OTA channel are relatively small. Regarding the selection of business model, in general, larger hotels offered a larger increase in market size with the OTA channel, and where the commission rate is low, will prefer the Agency model; otherwise hotels will prefer the Merchant model. Managerial guidance regarding channel and business model selection is provided.     

统计分析在企业财务管理中的运用

随着市场竞争的加剧,企业管理者及外部利益相关者越来越需要第一时间准确掌握企业的经营成果与财务状况,这就对企业财务管理提出了更高要求.为让企业经营活动中产生的大量数据及时向信息需要者提供决策信息,需要运用统计分析这一重要手段完成数据分析,让统计分析在企业筹资、投资、财务分析等财务管理中发挥作用,从而提高企业财务的管理效率.     

基于DEA模型的酒店经营效率分析

运用DEA方法对酒店在运营中效益及成本之间的相对有效性进行了分析,通过对酒店投入-产出比的C2R模型的定量计算,有效辨别出酒店不同月份运营的DEA有效及非DEA状态,并据此分别给出了酒店未来投入-产出的调整方向,为酒店管理者的决策提供理论依据。     

高技术企业财务失败的成因分析与对策研究

高技术企业财务失败受行业背景、国家宏观经济政策和经济周期等宏观因素影响,也受产品技术、企业管理模式和经营管理水平等微观因素的影响,各因素的作用有所不同。应建设和完善有利于高技术企业发展的市场环境,加强产学研联盟,提高高技术企业自主创新能力,努力提高高技术企业的盈利水平,加强智力资本的开发与管理。以防范高技术企业的财务失败。     

Financial deregulation and profit efficiency: A nonparametric analysis of Indian banks

The paper examines the impact of financial deregulation on cost and profit efficiency of Indian commercial banks during the post-reform period 1992–2004 using the nonparametric data envelopment analysis (DEA). The results indicate high levels of cost efficiency and lower levels of profit efficiency, reflecting the importance of inefficiencies on the revenue side of banking activity. The decomposition of profit efficiency suggests that a large portion of outlay lost is due to allocative inefficiency. A multivariate regression of the proximate causes of profit efficiencies highlights the importance of bank size, ownership, product diversity and prudential indicators as important variables driving these efficiency differences.     

新能源上市公司金融支持效率及影响因素研究

DEA模型和相关性分析表明我国新能源产业的金融支持存在效率缺失,低的纯技术效率值反映了技术水平较低和投资过度等问题,金融支持效率与投入指标之间呈现负相关关系。应推动新能源企业上市,强化政策引导,加大政府对新能源研发支持力度,提高新能源产业金融支持效率。     

Sabotage in the financial system: Lessons from Veblen

The global financial crisis that started in the summer of 2007 has generated a wide-ranging discussion about the causes of the meltdown and the role of banking and bankers in today's economy. However, the ongoing debate rarely addresses questions of business tactics in the financial industry. Indeed, while ‘incentives,’ ‘vested interests,’ power, and—increasingly—social utility are often factored into analyses of financial regulation, the strategies and tactics of financial institutions are rarely discussed in a systematic way in academic and policy debate. Nonetheless, we believe that these two elements are key to understanding the financial system, not as a mere sector of the wider economy but as a business enterprise driven by its own logic and shaped by a variety of business tactics of its key agents. In our vision of finance as business, we draw on the concept of industrial sabotage as a business tactic (originally developed by Thorstein Veblen) to explore the roots of the financial sector's contemporary architecture. Our key premise is that the central motive driving the process often described as ‘financialization’ or financial innovation is the sabotage instinct of finance operating as business. Whereas Veblen originally understood sabotage as “conscientious withdrawal of efficiency,” today, we argue, the workings of the banking and financial sector augment the very notion of efficiency by relying on concepts, techniques, and institutions of financial innovation that are shrouded in complexity. In this article, we explore conceptual, institutional, and selected policy dimensions of this phenomenon.     

现代医院的市场营销分析

文章以营稍理念为切入点,有机将价值链管理、服务利润链管理、SWOT分析等管理思想相融合,采取技术经济学的方法,全面而系统的分析营销理念在医院经济管理实践中应用的实效性和可行性.     

人才流动的增智效应对我国酒店业人才开发的启示

人才是酒店资源中最重要的资源,酒店的人才管理兼具投资性大和流动性强的特点,如何进行有效的人才投资、又防止人才过度流失是酒店人力资源开发和管理中的一个重要课题。按照人才流动的增智效应理论,人才的合理流动将带来酒店业的发展;即使显而易见的酒店业之间的人才流失,也会带来酒店人才开发管理中深层次的增智效应,必将有利于提升酒店管理水平和服务质量,并给出积极的应对策略。