Coordinating Information and Controlling Costs
Potter, Gordon S.
[Excerpt] I want to cover two essential and related topics in this chapter: determining the extent of decision rights you grant to your employees, and the management reports you provide to these employees to motivate them to effectively utilize resources. I recognize that if you are a sole practitioner, you may handle these all on your own. But if you hire people to manage your property, you should consider the points I discuss here.
hospitality industry; financial control system; relative performance evaluation; revenue management
Required Publisher Statement: © Wiley. Final version published as: Potter, G. (2011). Coordinating information and controlling costs. In M. C. Sturman, J. B. Corgel, & R. Verma (Eds.), The Cornell School of Hotel Administration on hospitality: Cutting edge thinking and practice (pp. 430-443). Hoboken, NJ: Wiley and Sons. Reprinted with permission. All rights reserved.