How Hotel Executives Can Improve Financial Performance, In The Digital Age
By Mostafa Sayyadi Management Consultant, The Change Leader Consulting Inc | February 09, 2020
There are some hotel executives that like to look at academic journals but unfortunately the crossover literature has not reached them enough. I attempt to blend scholarly concepts with real world application. For the executive's corner, I place a great deal of emphasis on the literature of leadership and information technology as two significant indicators for financial performance.
This article adds to a relatively small body of literature but pays homage to the scholarly contributions. I highlight the direct impact of hotel leadership on financial performance, and also simultaneously portray the indirect contribution of hotel leadership in improving organizational outcomes by implementing information technology as another important component of organizational performance. This article actually investigates the crossover potential of scholarly research and how it can be applied in the organizational boardroom.
Hotel executives will also see that cultivating effective technological initiatives requires developing leadership within hotels---not only at the higher echelons of the hotel but at every level. In light of the increased pressures of the global workplace that inspires hotel executives to exert effective change at the organizational level, this article points out the vital importance of hotel leadership in reshaping and, in some cases, manipulating a hotel's internal resources to have access to higher performing technology within hotels.
The focus of this article is based upon the critical role of hotel leadership which allows a rich basis to understanding the mechanisms by which knowledge integration and financial performance are influenced. Scholars repeatedly uncovered hotel leadership impacts on knowledge integration and financial performance. My outlook articulates a different approach. I simply extended the current literature by showing how hotel executives can contribute to knowledge integration and financial performance by fostering effective technological platforms. These two factors coupled with hotel leadership are presented as a new approach for executive implementation.
I also suggest that hotel executives embrace leadership. Hotel leadership influences some of the spans of control of the executive responsibility. My primary focus is on one factor (i.e. information technology) but there are many more important components of the managerial function that can be enhanced when hotel leadership is embraced. The key here is that there are positive effects of information technology on knowledge integration and financial performance.
Hotel executives will also see that I expand upon the subject matter of a hotel's internal resources. Through articulating the impacts of hotel leadership on information technology, I add to the current and extant literature. Insufficient consideration of the impact of hotel leadership on the hotels' internal resources has been exposed and I attempt to address this concern for the first time. For hotel executives, this outlook can portray a more detailed picture of the effects of hotel leadership on information technology, knowledge integration and financial performance that have been mentioned but not placed in a model in the past.
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