Excess capacity, production technology and technical inefficiency in hospitality sector

Customer Relationship Management in Hospitality Sector

Customer relationship management (CRM) is a business strategy to select and manage the most valuable customer relationships. CRM requires a customer-centric business philosophy and culture to support effective marketing, sales, and service processes. CRM applications can enable effective customer relationship management, provided that an enterprise has the right leadership, strategy, and cultur...

Innovation Capacity in Agricultural Sector

The changing context for agricultural development has highlighted a strong need to understand and adoptinnovation systems thinking. Science, technology and innovation policy has equated rural development toagricultural development. The main objective of this paper was to examine the role of innovation capacity inagricultural sector. With the growing diversification of rural livelihood options i...

Technology in Hospitality Industry: Prospects and Challenges

The leisure and hospitality industry is one of the driving forces of the global economy. The widespread adoption of new technologies in this industry over recent years has fundamentally reshaped the way in which services are provided and received. However, there are still major challenges that need to be addressed to ensure that this industry maintains a steady pace in adoption of future techno...

Employers Skill Survey: Case Study Hospitality Sector

A Model for Technical Inefficiency Effects in a Stochastic Frontier Production Function for Panel Data

A stochastic frontier production function is defined for panel data on firms, in which the non-negative technical inetGciency effects are assumed to be a function of firm-specific variables and time. The inefficiency effects are assumed to be independently distributed as truncations of normal distributions with constant variance, but with means which are a linear function of observable variable...