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Identifying Performance Measures of Small Ventures—The Case of the Tourism Industry

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  • Sigal Haber
  • Arie Reichel

Abstract

Drawing on the goal theory to effectiveness, the current research study attempts to identify performance measures of small ventures by focusing on the tourism industry and by doing so develops a conceptual model of small‐venture performance in a service industry within its unique conditions. After reviewing theory and research on small venture performance measures in general and in service industries in particular, we propose that performance measures of small tourism ventures constitute a combination of short‐ and long‐term measures. Furthermore, both types of measures include both objective and subjective dimensions. The findings, based on a cluster sample of 305 small tourism venture owner–managers that were interviewed face to face, generally supported the research proposition. The study emphasizes the importance of mapping the venture's achievements, allocating resources, and developing managerial skills to improve its performance and ability to survive in the long run.

Suggested Citation

  • Sigal Haber & Arie Reichel, 2005. "Identifying Performance Measures of Small Ventures—The Case of the Tourism Industry," Journal of Small Business Management, Taylor & Francis Journals, vol. 43(3), pages 257-286, July.
    • Handle: RePEc:taf:ujbmxx:v:43:y:2005:i:3:p:257-286
    DOI: 10.1111/j.1540-627X.2005.00137.x
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    Cited by:

    1. Mary Juliet Nakabugo & Stephen Muathe & Evans Mwasiaji, 2023. "Conceptualizing Microfinance Services, Government Regulation and Performance in the Context of Coffee Entrepreneurs: A Theoretical Review," International Journal of Business and Management, Canadian Center of Science and Education, vol. 16(4), pages 1-1, February.
    2. Pi-Shen Seet & Wee-Liang Tan, 2024. "The impact of positive and negative psychological affect and overconfidence from major family events on new venture survival," International Entrepreneurship and Management Journal, Springer, vol. 20(3), pages 1617-1647, September.
    3. Hensellek, Simon & Kleine-Stegemann, Lucas & Kollmann, Tobias, 2023. "Entrepreneurial leadership, strategic flexibility, and venture performance: Does founders' span of control matter?," Journal of Business Research, Elsevier, vol. 157(C).

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