This paper aims to examine how modern small-medium companies (SMEs) operating in the touristic industry perceive and define corporate performance, and how they measure and monitor businesses' achievements; actual performance measurement activities are expected to show how (ad if) companies manage the key factors that drive value creation and value erosion processes. Theory and previous empirical research on SMEs’ performance is instrumentally used to identify those key factors that are supposed to drive small/medium hotels’ business performance; building on a resource based view framework, a model based on the financial, the operational and the organizational dimension of firm's success, is developed trough the selection of a set of consistent financial and non financial indicators aimed at measuring corporate performance obtained by those key resources. The balanced performance measurement model is then tested via a field research based on a semi structured questionnaire sent to 540 selected SMEs active in the touristic sector; the field research is carried out a using a “case research approach” to asses if the effective performance measurement activities performed by the companies of the sample are aligned with main theoretical prescriptions. Results seem to suggest that small medium Italian hotels, typically family firms managed by owners, tend to adopt a balanced system of performance measurement that keeps track of financial and non-financial parameters; customer orientation confirms to be an extremely important leading indicator of non-financial corporate performance. Amongst traditional financial indicators, net profits, profitability ratios such as ROI and ROS, RevPAR, occupancy rate, and some cost efficiency ratios are found to be relevant, whereas extensive use is made of non-financial metrics such as customer satisfaction, number of complaints, number of new and repeat customers, employee competencies and staff abilities. Furthermore, some interesting results about frequency of measurement and purpose of measurement are also presented.
PANNO, ALESSANDRO (Corresponding)
|Data di pubblicazione:||9999|
|Titolo:||Performance measurement and management in small companies of the service sector; evidence from a sample of Italian hotels|
|Rivista:||MEASURING BUSINESS EXCELLENCE|
|Parole Chiave:||Performance measurement, financial, non-financial indicators, objective and subjective indicators, SME.|
|Appare nelle tipologie:||Articolo su Rivista|