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Business in Hospitality and Catering Industry - Case Study Example

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The paper under the headline "Business in Hospitality and Catering Industry" focuses on the fact that the main purpose of this project is to develop a plan regarding business to business (B2B) service in the hospitality and catering industry in London. …
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Business in Hospitality and Catering Industry
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Download file to see previous pages The current project will also explain the sales strategies as well as give an outline of the initial financial projections.
With the growing impact of globalisation, the role of entrepreneurship has gained higher importance in a country’s economy. Entrepreneurship is no more limited to a particular segment or section of business; in reality, it has spread across all the business areas in an economy. Entrepreneurs are increasingly entering in B2B, B2G (business to government), and B2C (business to consumer) sectors. With the growing involvement of entrepreneurs, the competitive level of these sectors has improved substantially, resulting in better services for consumers (Audretsch, Keilbach, and Lehmann, 2006).
From a buyers’ perspective, a buyer can be of two types: final consumer and those who buy for future sale. In B2B activities, the buyer is not the final consumer. In this sector, a commercial transaction takes place between two or more businesses such as a transaction between manufacturer and distributor, distributor and whole seller, and distributor and retailers. B2B transactions are comparatively higher in volume than that of B2G and B2C, which is why the scope of earning profit in this sector is also greater for entrepreneurs (Bussler, 2003).
In the present day scenario, the hospitality industry is growing at the fastest pace as demand for the service sector is outperforming that of the manufacturing industry. Service sector not only delivers profitable growth but also help to develop better-quality strategic positioning of the company (Getz and Petersen, 2005). The paper is about setting up recruitment consultancy for catering to the needs of the hospitality industry in London.
The term entrepreneur is derived from the French term ‘entreprenerd’, which means to undertake. In a broader sense, an entrepreneur is any person who initiates a business or activity, gathers resources related to it, arranges funds for the venture, takes in account risk and uncertainties and convert the opportunities into profit (Bula, 2012).  ...Download file to see next pagesRead More
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