Healthcare and hospitality: intangible dynamics for evaluating industry sectors

ABSTRACT

In order to assess potentially profitable exchanges across the healthcare and hospitality industries, this paper reviews intangibles theory, ranging from big data through knowledge assets (explicit and tacit) to intelligence, establishing the potential value from each and best practices for managing. Metrics are offered for the assessment of firms and industries according to these intangibles. Based on the metrics, intangible practices can be identified in all the industry sectors across healthcare as well as from hospitality sectors. Similarities are identified between hospitality and specific healthcare sectors (retail pharmacies have most in common with hospitality firms, both possessing strong data and explicit knowledge capabilities). Implications for strategy, competition, and intangibles management systems can also be drawn (chiefly process and customer relationship data and knowledge leading to operational and marketing excellence).

KEYWORDS:

• Big data
• analytics
• knowledge
• healthcare
• hospitality

Disclosure statement

No potential conflict of interest was reported by the authors.