Balanced Scorecards: Improving B&B With The BSC
2 July 2021
Balanced scorecard delivers improvements to the Indiana bed and breakfast industry – starting with its websites.
Anyone staying in a bed & breakfast operation in Indiana might notice a marked improvement in future – in their website, at least. And the new commitment to quality improvement in the state’s B&Bs is thanks to one thing – the balanced scorecard.
The Journal of Travel & Tourism Marketing reported in 2004 that an exploratory study had been carried out involving the balanced scorecard (BSC).
Authors used accepted balanced scorecard theory
They study’s authors used the balanced scorecard approach to conduct a study of the state’s B&B websites, rating them in four different areas – in line with accepted balanced scorecard theory.
The balanced scorecard areas were:
- User-friendliness: how easy to use the site was
- Site attractiveness: how good it looked
- Marketing effectiveness: how successful it was likely to be at generating revenue
- Technical aspects: how efficiently and successfully it worked
A team of trained balanced scorecard evaluators looked at 20 websites for organisations affiliated to the Indiana B&B Association (IBBA) – demonstrating the flexibility of balanced scorecard theory in being applied in less than obvious fields.
Balanced scorecard results
The IBBA balanced scorecard found that the B&B websites were strong in the ‘site attractiveness’ area – but needed improvements in the other three areas.
Using the balanced scorecard to assess the websites led to a conclusion which may not have been obvious using traditional measurement concepts, which focus heavily on a website’s design at the expense of other areas – particularly marketing effectiveness, which seems unusual given the commercial purpose of most sites (especially, it is reasonable to assume, in the case of bed & breakfasts).
Whether the IBBA’s work has led to further improvements in the Indian bed & breakfast industry is not known – but the balanced scorecard approach could easily be adapted to measure the B&B’s themselves, leading to a comprehensive improvement programme across the state.
Related Articles
Generative AI: The Secret Weapon Of Successful CEOs
Remember how amazed we were when ChatGPT made its debut just a year ago? Well, as we’ve since learned, that was only the beginning.[...]
Virtual Reality, Real Business: The Impact Of The Metaverse On Companies
Metaverse has undoubtedly been one of the most talked-about concepts of the year. At the start of 2022, the focus was on Facebook’s surprise re-branding of itself to Meta Platforms.[...]
The Future Of Medicine: How AI is Shaping Patient Care And Drug Discovery
One of the most exciting aspects of AI is its implications for healthcare. Today, doctors and other medical professionals routinely augment their human skills and experience with the help of intelligent machines.[...]
Navigating The Future: 10 Global Trends That Will Define 2024
We’re approaching the mid-point of a decade in which we’ve already seen significant global transformation.[...]
Unlocking The Future Of Learning: How XR Tech Transforms Education
In the metaverse era, education as we know it will change. And I’m not just talking about formal education in schools, colleges, and universities – but also workplace learning and lifelong learning.[...]
2024 IoT And Smart Device Trends: What You Need to Know For The Future
By the end of 2024, there are projected to be more than 207 billion devices connected to the worldwide network of tools, toys, devices and appliances that make up the Internet of Things (IoT).[...]
Sign up to Stay in Touch!
Bernard Marr is a world-renowned futurist, influencer and thought leader in the fields of business and technology, with a passion for using technology for the good of humanity.
He is a best-selling author of over 20 books, writes a regular column for Forbes and advises and coaches many of the world’s best-known organisations.
He has a combined following of 4 million people across his social media channels and newsletters and was ranked by LinkedIn as one of the top 5 business influencers in the world.
Bernard’s latest book is ‘Generative AI in Practice’.
Social Media