Key Success Factors within the Ghanaian Tourism and Hospitality Industry: The Balanced Score Card Approach

Abstract

The study aims to address the key success factors in the tourism and hospitality industry in Ghana using the balanced scorecard. The study involved 300 participants from selected tourism and hospitality establishments in the Central and Western regions of Ghana. The Cluster sampling technique was adopted in selecting the participants for the study. Quantitative data in the form of a five- Likert scale questionnaire ranging from “not at all important” to “extremely important” was analyzed using the SPSS statistical tool. The study’s findings showed that establishments set ethical standards to govern their operations, establishments developed cash operating budgets, as well as expected turnover budgets, advertising was ranked as the most important and that recruitment was important in ensuring the right people are employed at the right time. It was concluded that there are various key success factors which are relevant in the tourism and hospitality industry in Ghana, specifically the Central and Western regions that need to be harness. This study contributes to the theoretical orientation of key success factors and the balanced scorecard in Ghana and the literature related to the tourism and hospitality industry, which addresses some relevant concepts about the industry.

Keywords

• balanced score card (bsc)
• ghanaian
• hospitality
• key success factors
• tourism