Strategic decision making using multicriteria analysis: new service development in Greek hotels

Fotis Kitsios, Evangelos Grigoroudis, Konstantinos Giannikopoulos, Michael Doumpos and Constantin Zopounidis

International Journal of Data Analysis Techniques and Strategies, 2015, vol. 7, issue 2, 187-202

Abstract: The main purpose of the study is to highlight the new service development as a key determinant of diversification strategy in the hospitality industry. Successful new services strengthen the hotels' innovation orientation, constitute the basis for the future competitiveness, growth and survival, while they also aspire to be the drivers to countering the economic crisis, giving to all studies related to hotel service development an increased importance. In difference to other similar studies, the identification of critical success factors in this study was attempted with the use of multicriteria methodologies. Data was collected using in depth structured and questionnaire-based interviews with hotel managers in a representative sample of hotels in Easter Macedonia. Finally, the paper aims to justify the validity of the adopted model as a general approach that predicts the success of a new hospitality service based on a set of critical factors.

Keywords: new service development; NSD; service innovation; Greece; hospitality industry; hotel services; multicriteria decision analysis; MCDA; critical success factors; CSFs; strategic decision making; diversification strategy; hotels. (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ids:injdan:v:7:y:2015:i:2:p:187-202

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