The applicability of the balanced scorecard within the hotel industry

Abstract

Businesses today are flourishing by improving their ideologies. There is an ongoing demand for more relevant information, and that the right information is needed to make the right decisions. The Balanced Scorecard serves as a management tool which reflects the whole business. It measures and manages the execution of business strategy by including financial and non-financial measures and it aids managers to look at four perspectives which are the financial, customer, internal business process and learning and growth perspective.