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DC Field | Value | Language |
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dc.date.accessioned | 2021-10-29T07:42:37Z | - |
dc.date.available | 2021-10-29T07:42:37Z | - |
dc.date.issued | 2006 | - |
dc.identifier.citation | Swain, K. (2006). The applicability of beyond budgeting in selected three-star hotels : an evaluation (Bachelor's dissertation). | en_GB |
dc.identifier.uri | https://www.um.edu.mt/library/oar/handle/123456789/83062 | - |
dc.description | B.ACCTY.(HONS) | en_GB |
dc.description.abstract | The principal aim of this research study was to critically assess and discuss the potentials and shortcomings of the 'Beyond Budgeting' Approach. The study primarily focused on the three-star hotel industry in Malta, with a view to detem1ine and establish, whether this approach would be more suited to satisfy the managerial exigencies prevailing within these concerns. A study involving 20 randomly chosen hotels with a combined capacity range or circa 5152 beds (i.e. 62% of the total national capacity provided for by this category) was undertaken. Data was captured using a specifically designed questionnaire. Statistical analysis of the data was carried out in order to provide relevant and informative insights about any significant relationships and correlations prevailing across market, management and cost related parameters. Interpretation of the results followed an intensive exercise combining statistical testing and inferences. Some of the most relevant findings include the following, namely: (a) Some form of forecasting techniques are in use, only a very small proportion of the managers tend to rely on or resort to the application of dedicated packages and the professional support tools that are available on the market. (b) Even though local 3-star hotels are heavily reliant on what tour operators provide, repeat visits of up to three times and over exhibit a positive correlation (R = 0.672 P = <0.0012) with direct bookings made. ( c) Most of the managers still resort to the traditional approach to budgeting, based mainly either on incremental alone or combined with a mix of other models, depending on whether they use the budget as a means for guidance and goal setting. (d) Respondents agreeing that "the budget was worth doing", generally carried the exercise in-house (R = 0.514 P = <0.020) (e) In respect of "variable costs'', positive correlations were registered for "food and beverage expenses" (R = 0.603 P = <0.0049), to a lesser extent "house-keeping and maintenance" (R = 0.065 P = <0.795), but quite significantly for " other overhead costs" (R = 0.216 P = 0.0644) (f) In respect of "fixed costs'', positive correlations were obtained for "administrative expenses", (R = 0.507 P = <0.0226), as well as for "energy'', (R = 0.648 P = <0.002). In view of these and other findings, it was concluded that the "Beyond Budgeting" Approach, is more suited to meet the needs of the industry, providing for the desired flexibility that is especially vital for responding to constantly changing and unpredictable environments. | en_GB |
dc.language.iso | en | en_GB |
dc.rights | info:eu-repo/semantics/restrictedAccess | en_GB |
dc.subject | Hotelkeepers -- Malta | en_GB |
dc.subject | Budget -- Malta | en_GB |
dc.subject | Management -- Malta | en_GB |
dc.title | The applicability of beyond budgeting in selected three-star hotels : an evaluation | en_GB |
dc.type | bachelorThesis | en_GB |
dc.rights.holder | The copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder. | en_GB |
dc.publisher.institution | University of Malta | en_GB |
dc.publisher.department | Faculty of Economics, Management and Accountancy. Department of Accountancy | en_GB |
dc.description.reviewed | N/A | en_GB |
dc.contributor.creator | Swain, Kenneth (2006) | - |
Appears in Collections: | Dissertations - FacEma - 1959-2008 Dissertations - FacEMAAcc - 1983-2008 |
Files in This Item:
File | Description | Size | Format | |
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B.ACCTY.(HONS)_Swain_Kenneth_2006.pdf Restricted Access | 22.52 MB | Adobe PDF | View/Open Request a copy |
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