Answered step by step
Verified Expert Solution
Question
1 Approved Answer
QUESTION SIX (a) Gwembe safaris limited has been in operation in the last twenty years offering a wide range of hospitality services to both local
QUESTION SIX (a) Gwembe safaris limited has been in operation in the last twenty years offering a wide range of hospitality services to both local and international tourists. The hospitality services ranged from cozy restaurants and hostel accommodation to safaris - game and scenic viewing. Gwembe's winning theme has been an efficient service offering at a low price. To date, Gwembe has evaluated its performance using quarterly financial measures. These financial measures seem to have worked well. However, in recent times there have been an emergence of new hospitality and safari businesses entering the market, and offering basic hospitality services at very affordable rates. These have undoubtedly offered formidable competition to Gwembe resulting in the drop in numbers of its customers. You have just attended a workshop wherein the "Balanced Scorecard was presented as a better alternative way to measure performance. Required: Explain the "Balanced Scorecard" and how it could be used by Gwembe Itd to assess its performance.(10marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started