Changing tires on a moving car: the role of timing in hospitality and service turnaround processes |
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| Affiliation: | 1. Ecole hôtelière de Lausanne, HES-SO//University of Applied Sciences Western Switzerland, Route de Cojonnex 18, 1000, Lausanne 25, Switzerland;2. Columbia University, 701 Uris Hall, New York, NY, 10027, United States;1. Rosen College of Hospitality Management, University of Central Florida, 9907 Universal Blvd., Orlando, FL, 32819, United States;2. Rosen College of Hospitality Management, University of Central Florida, Orlando, FL, United States;1. Department of Business and Accounting, Faculty of Economics and Business Administration, Universidad Nacional de Educación a Distancia (UNED), Paseo Senda del Rey, 11, 28040 Madrid, Spain;2. Department of Business and Accounting, Faculty of Economics and Business Administration. Universidad Nacional de Educación a Distancia (UNED), Paseo Senda del Rey, 11, 28040 Madrid, Spain;1. University of Portsmouth, Faculty of Business and Law, Portland Street, PO13DE, Portsmouth, UK;2. Università degli Studi Roma Tre, Department of Economics and Accounting, Via Silvio D''Amico, 77, 00145, Roma, RM, Italy;3. IQS School of Management, Department of Business and Management, Via Augusta 390, 08017, Barcelona, Spain;1. Department of Tourism, Hospitality & Events, University of Sunderland, UK;2. Sir Tom Cowie Campus, St. Peter’s Way, SR6 0DD, Sunderland, UK;1. School of Marketing, Ehrenberg-Bass Institute for Marketing Science, University of South Australia, Adelaide, Australia;2. Department of Agricultural Economics, Stellenbosch University, Stellenbosch, South Africa;1. International Center for Hospitality Research & Development, Dedman School of Hospitality, Florida State University, 288 Champions Way, UCB 4117, P.O. Box 3062541, Tallahassee, FL 32306, USA;2. Graduate School of Tourism Management, National Institute of Development Administration, 118 Moo 3, Sereethai Road, Klong-Chan, Bangkapi, Bangkok 10240, Thailand |
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| Abstract: | Corporate turnaround processes consist of two main strategies: retrenchment and recovery. Whereas retrenchment focuses on efficiency and cost reduction, recovery entails strategic repositioning for long-term growth. Prior research has emphasized the timing of turnaround strategies as critical for the overall turnaround success and proposed a sequential or simultaneous timing of retrenchment and recovery. However, a sequential timing of turnaround strategies may have important disadvantages in the particular context of the service sector, given that it may quickly lead to staff demotivation, declining service quality and loss of customers.This research investigates the timing of retrenchment and recovery activities in service industry turnarounds with a multi-method approach. 35 service industry turnarounds in the German-speaking markets of Western Europe (Austria, Germany, and Switzerland) were analyzed. Based on the results of the first study, the research was complemented with a qualitative study of six turnaround cases in the Swiss hospitality industry. The converging evidence from both studies suggests that retrenchment and recovery activities interact in predicting the performance of service turnarounds. This suggests that a simultaneous turnaround process provides a more adequate timing for turnarounds in the specific service environment. The findings have important implications for turnaround theory and for managerial practice in service turnarounds. |
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| Keywords: | Turnaround process Retrenchment Recovery Hospitality industry Service industry |
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