The effect of the relationship between a CVB and its stakeholders on a CVB's performance from the stakeholder's perspective

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The effect of the relationship between a CVB and its stakeholders on a CVB's performance from the stakeholder's perspective

 

Author: Lee, Hye Rin
Title: The effect of the relationship between a CVB and its stakeholders on a CVB's performance from the stakeholder's perspective
Degree: DHTM
Year: 2011
Subject: Tourism -- Marketing.
Tourism -- Management.
Hong Kong Polytechnic University -- Dissertations
Department: School of Hotel and Tourism Management
Pages: xii, 247 p. : ill. (some col.) ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2463141
URI: http://theses.lib.polyu.edu.hk/handle/200/6351
Abstract: Convention and Visitors' Bureaus (CVB) have received increasing attention in the literature on the MICE industry, as they have been responsible, in their role as a destination marketing organization, for attracting visitors to a destination. As such, they contribute to the enhancement of destinations' competitiveness. A destination is an integrated mechanism that consists of a number of business firms and organizations. As they work to develop destinations' competitiveness, CVBs build relationships with a number of constituents in a destination. However, little research has been devoted to exploring this relationship from the stakeholders' perspective in the MICE area. Moreover, such inter-relationship is associated with the CVB's performance, but it has not been very widely addressed. Therefore, this study examines the relationship between CVBs and stakeholders based on the agency theory and stakeholder theory. The focus is on how the relationships between CVBs and stakeholders can influence CVBs' performance. Performance measurement enables stakeholders to assess whether the organization is capable of fulfilling its goals now and in the future. Therefore, with performance measurement, an organization can monitor the implementation of its plans and determine whether plans are successful and how to.improve them. Most particularly, this study uses a modified balanced scorecard (BSC) to assess CVBs' performance with respect to three perspectives: destination operation, stakeholder interaction, and financial contribution. BSC is an integrated measurement tool based on different perspectives, both financial to non-financial approaches.
Given the literature background, and the importance of a research concept, a research.model, having six constructs (information asymmetry, goal congruence, interdependence, collaborative relationship, trust, and performance) was proposed and empirically examined using the data collected from 422 stakeholders in Korea. A quantitative research method, using structural equation modeling (SEM), was applied to analyze the data in this study. The results of this study have shown that information asymmetry between CVBs and stakeholders do not influence stakeholders' perceptions of CVBs' performance in the context of a collaborative relationship. Meanwhile, goal conflict and interdependence was found not only to directly affect stakeholders' perceptions of collaborative relationships, but to indirectly influence CVBs' performance. The results indicate that CVBs should make it clear that they are ready to work together with, and support, stakeholders. In addition, CVBs need to convince stakeholders that the CVB is acting fairly and properly in the way it treats stakeholders in regard to the allocation of resources and distribution of benefits, opportunities and other advantages that accrue from the collaborative relationship. Furthermore, the results of this study reveal that CVBs need to develop more attractive activities to maintain and increase the collaborative relationship level. To achieve this, it is suggested that CVBs exercise leadership in initiating, managing, and maintaining the destination operation. In particular, the level of trust which stakeholders perceive in their relationship with a CVB affects these relationships: goal conflict-collaborative relationship and interdependence-collaborative relationship. Here, a key issue for CVBs is how to create higher trust from stakeholders. Hence, it is suggested that a communication system, a transparent reporting system, and qualified task-related ability be implemented. The implications of the study can be applied to the improvement of both the inter-relationship between a CVB and stakeholders on the one hand and CVBs' performance on the other.

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