How Important is Strategic Management Accounting to Hotel Managers? | By Michael J. Turner and Demian Hodari - Hospitality Net - 0 views
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the relationship between firm strategy and firm performance was significantly enhanced through the use of SMA techniques.
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Our primary finding was that the key precursor to hotel property SMA usage is a hotel propertys adoption of market orientation business strategy;
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A hotel which adopts this type of business strategy will tend to operate in a highly competitive market, and therefore puts their customers at the center of their strategic and operational thinking.
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This article introduces the functions and importance of contemporary strategic management accounting (SMA) techniques in hospitality industry. They involve the collection of long-term, externally-focused and forward-looking information for the purpose. Besides, SMA techniques perform better in hotels which adopt market orientation business strategy.