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All Journal Journal of Economic, Bussines and Accounting (COSTING) JURNAL PENDIDIKAN TAMBUSAI Maker: Jurnal Manajemen JURNAL MANAJEMEN DAN BISNIS EQUILIBRIUM BUDGETING : Journal of Business, Management and Accounting Jurnal Ilmiah Satyagraha IndraTech juremi: jurnal riset ekonomi Studi Akuntansi, Keuangan, dan Manajemen Akses: Jurnal Penelitian dan Pengabdian Kepada Masyarakat Universitas Ngurah Rai Journal of Sustainable Business and Management Innovative: Journal Of Social Science Research Benefit : Journal of Bussiness, Economics, and Finance Jurnal Riset Ekonomi dan Akuntansi Jurnal Ekonomi, Manajemen, Akuntansi
Anak Agung Istri Agung Ovy Dwijayanthi
Universita Ngurah Rai
Religion Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Library & Information Science Public Health Social Sciences Other

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Optimizing the Competitive Advantage of Four and Five Star Hotels in Bali with Strategic Thinking and Local Wisdom Ni Nyoman Sudiyani; I Gusti Putu Agung Widya Goca; Cokorda Istri Agung Vera Nindia Putri; Anak Agung Istri Agung Ovy Dwijayanthi; I Kadek Eko Darma Putra
Studi Akuntansi, Keuangan, dan Manajemen Vol 4 No 2 (2025): Januari
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/sakman.v4i2.3966

Abstract

Purpose: This study examines the influence of the local wisdom of Panca Budhi Indriya on competitive advantage in 4&5-star hotels in Bali. It also investigated the mediating role of strategic thinking in enhancing the relationship between local wisdom and competitive advantage. Methodology: This study adopted a quantitative approach and used survey data collected from 158 general managers of 4&5-star hotels in Bali. Data were analyzed using Structural Equation Modeling-Partial Least Squares (Rahayu & Yanis) with SmartPLS 3 software. The study employs a structured questionnaire based on indicators developed for local wisdom, strategic thinking, and competitive advantage. Results: The findings revealed that Panca Budhi Indriya has a significant and positive influence on competitive advantage. Additionally, strategic thinking significantly mediated the relationship between Panca Budhi Indriya and competitive advantage, acting as a complementary mediator. This demonstrates that integrating local wisdom with strategic management practices enhances hotels’ competitive edge. Conclusions: This study examines the influence of local wisdom Panca Budhi Indriya on competitive advantage, both directly and indirectly through strategic thinking. The findings confirm that Panca Budhi Indriya, as a form of intangible local wisdom, significantly enhances competitive advantage. Additionally, strategic thinking acts as a complementary mediator, further strengthening this relationship. Limitations: This study was limited to 4&5-star hotels in Bali, which may not fully represent the broader hospitality sector. This quantitative approach also limits the exploration of deeper qualitative insights into the role of local wisdom in strategic management. Contribution: This study contributes to the field of tourism and hospitality management by providing empirical evidence of how local wisdom can serve as a strategic resource for achieving competitive advantage. These findings offer practical insights for hotel managers, policymakers, and academics interested in integrating cultural values into strategic planning to support sustainable tourism development.
Co-Authors Abdullah, Sharmini Amanda Putri, Komang Ayu Ratih Bagus Arya Wijaya Cokorda Istri Agung Vera Nindia Putri Cokorda Istri Agung Vera Nindia Putri Geriadi, Made Ayu Desy Handayani, Made Mulia I Dewa Agung Ayu Eka Idayanti1 I Gusti Putu Agung Widya Goca I Kadek Eko Darma Putra I Made Adi Suwandana I Putu Agus Suwastawa I Wayan Meryawan Ida Ayu Ratih RakaSiwi Kadek Intan Rusmayanthi Kusuma, Ida Bagus Krishna Duta Made Ayu Desy Geriadi, Made Ayu Desy Geriadi Meryawan, I Wayan Monika Willys Saraswati, Ida Idewa Ayu Natalia, Ni Putu Riska Ni Ketut Rini Ni Ketut Sukanti Ni Ketut Susanti Ni Nyoman Sudiyani Ni Putu Harini Putri Ni Putu Putri Ayu Wijayanthi Nurakmalia, Ade Parwita, I Nyoman Aris Pratama, Octavianus Sumardana Putra, I Kadek Eko Darma Putri, Putu Pita Pyona Putu Gede Denny Herlambang Sudana, I Gede Sudiyani, Ni Nyoman Swastawa, Putu Agus Tjokorda Gde Agung Wijaya Kesuma Suryawan