StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Hospatility and Tourism Strategic Managment - Essay Example

Comments (1) Cite this document
Summary
In this work, the author writes about hospitality and tourism strategic management, which is the art and science of formulating, implementing and evaluating multi-functional business approaches and decisions in order to make sure that the business firm achieves its goals effectively…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91% of users find it useful
Hospatility and Tourism Strategic Managment
Read Text Preview

Extract of sample "Hospatility and Tourism Strategic Managment"

Download file to see previous pages This "Hospitality and tourism strategic management" essay describes an importance of strategic management, its key elements and also writes about role of Information technology in the hospitality industry. Strategic planning has seen a vast improvement and has evolved in recent times, more so with the volatile economy and intense market competition. However, there is still a tendency of the senior management to keep the formal strategic planning in their purview rather than making it transparent and developing a clear communication with the middle managers and other employees. This approach will not only prove to be detrimental for the future of organizational objectives, but also will not allow a complete harmony between the various levels of employees. The middle management will not be equipped to handle and execute the strategic planning of the senior management until and unless they have a clear understanding of the future vision of the organization. The hospitality and tourism industry has evolved from late eighties and has seen tremendous growth, making the competition stringent with most of the developing countries focusing and formulating friendly policies due to the industry’s immense potential. With advanced tools being introduced to make the services as pleasing for the customer as possible, the focus has more or less now shifted on the unit and the departmental levels of industry players. Hence, the senior management needs to realize the importance involving all the employees in strategic decision making. as they are the ones, who deal one on one with the existing and prospective customers, which eventually decides the company’s reputation and future market base (Scott and Laws 2006). Business Environment The external environment that any company in the hospitality industry needs to do a thorough analysis on can be divided into the operating environment and the organisational environment. Many developed and primarily developing countries have come up with hospitality industry friendly policies and procedures due to the immense potential of the hospitality and tourism industry to generate huge amounts of economic benefits for any country, benefits like, employment, foreign exchange, tax revenues etc. (Kotler 2008). Managers must give a detailed consideration to the macro-environment factors. Firstly, political factors - governments enforce rules and regulations within which the company must operate, such as subsidies or lenient tax laws for new businesses. Governments can shut companies for not complying with the enforced laws. Therefore, being compliant with the laws ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Hospatility and Tourism Strategic Managment Essay”, n.d.)
Retrieved from https://studentshare.org/tourism/1396324-hospatility-and-tourism-strategic-managment
(Hospatility and Tourism Strategic Managment Essay)
https://studentshare.org/tourism/1396324-hospatility-and-tourism-strategic-managment.
“Hospatility and Tourism Strategic Managment Essay”, n.d. https://studentshare.org/tourism/1396324-hospatility-and-tourism-strategic-managment.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
jo
josefinaparker added comment 1 year ago
Student rated this paper as
The topic of "Hospatility and Tourism Strategic Managment" is quite popular among the tasks in university. Still, this document opens a new perspective of seeing the question. I’ll use the manner for my own research.

CHECK THESE SAMPLES OF Hospatility and Tourism Strategic Managment

Strategic Ways of Harley Davidson Company

Starting in 1975 up to the present, Harley-Davidson Inc. has been experiencing some turbulent within the business environment. Japanese motor companies like Honda Motor, Suzuki and Yamaha became a tight competitor of Harley Davidson.
Internal and external strategies were immediately applied in the business to make the company survive. Business strategies include the extent of the leveraged buyout, infiltration of foreign-made bikes as well as implementing some government regulations.
Despite the tight competition in the global market, Harley-Davidson manages to increase its annual revenue up to $5.34 billion in 2005 from its previous year’s revenue of $959.6 million.1 Harley-Davidson’s market position is limi...
9 Pages (2250 words) Case Study

How the Evolvement of Heritage Tourism Contributes to the Preservation and Maintenance of Museums

This paper will discuss how the philosophy of heritage tourism has developed and how the evolvement of heritage tourism contributes to the preservation and maintenance of museums. It will further highlight the educational role that museums play in society.

Heritage is anything that is transmitted from the past and could include original cultural and natural material, the built environment, the archaeological resource, the intangible heritage and the natural heritage (Nurick, 2000). There is some significance attached to these which make it worth preserving for the self as well as for the future generations. The UK’s heritage is a major contributor to the tourism industry. Virtually all tourism in the UK is partial...
12 Pages (3000 words) Case Study

Strategic Management of J.C.Penney and Comfort Zone

The result was lower profits, falling share prices and loss of credibility and creditworthiness in the market.

This is a small-time, single store, highly successful furniture seller that markets several branded furniture items and has grown gradually to a highly profitable position over thirty years. Having one outlet, supported by relatively small storage capacity, it has managed very well through good supply chain management and by offering immaculate and timely services to its customers. It is actively planning to double its capacity by adding another store of a similar size at a nearby location which is to be financed through internal accruals. While the plan was on hold awaiting the return of its single owner, news...
10 Pages (2500 words) Case Study

Issues of Tourism and Hospitality Industry

The visitors, in turn, will be happy to pay a reasonable amount in return for the services. That’s how the hospitality industry functions. In the earlier times, travel to far off places used to take months to years, and it required grit and determination on the part of the adventurers to explore the other part of the world, and if they could live long enough to go back to their native land, they would narrate the wonderful place that they could see, which in turn would encourage others around to go and see those places. Till the time Wright brothers presented the world with a flying machine, most of such travels used to take place with the help of ships, on foot, on camelback or on horseback. During those times people used t...
6 Pages (1500 words) Term Paper

The Importance Uses, Perspectives of Strategic Management

Strategic management refers to the art of planning your business at the highest possible level. It is the duty of the company’s leader (or leaders). Strategic management focuses on building a solid underlying structure to your business that will subsequently be fleshed out through the combined efforts of every individual you employ. 

Answering the first question requires serious thought about what your ultimate goals are for the business. What are you trying to make happen? What are you attempting to facilitate or enable? What is the best possible outcome your company can aspire to?

The strategy is of critical importance in today's business environment of rapid change and unforgiving competition. M...
12 Pages (3000 words) Term Paper

Strategic Management: Microsoft Corporation

The firm’s leadership is characterized by strong support to the employee, the development of teams of employees within the organization (for the completion of specific tasks) and the enhancement of innovation by all the firm’s employees. As it is made clear through Figure 1 in the Appendix section (Financial Highlights for the firm in the last 5 years) the firm has managed to keep its performance on continuous growth. The structure of its operations and the style of leadership applied to the particular organization should be considered as the main reasons for the success of the firm internationally. The development of MS-DOS in the decade of the 1980s should be considered as the main reason for the rapid growth of the...
12 Pages (3000 words) Case Study

Strategic HRM for Create Competitive Advantage

Because HR plays a role in the overall success of a business, many well-run companies have realized the importance of HR plays in order for a company to succeed in the market place. With the increasing sophistication of both consumers and competitors, companies are forced to become more efficient and competitive in their operations. This situation forces a lot of companies to manage their resources well—financial, information, and human resources.

According to Gary Dessler, in his book Human Resources Management, he defines HRM as “the policies and practices involved in carrying out the “people” or human resource aspects of a management position, including recruiting, screening, training, rewardi...
12 Pages (3000 words) Term Paper

The Importance of Tourism to the World Economy

Since the eighties, perceived risk research has been of ongoing interest to tourism researchers, Dolnicar (2005) and Dickson, Chapman, and Hurrell (2000)  states. Contributions often include those which investigate positive risk as a factor in increasing tourists who are seeking a thrill. On the other hand, there are also those who view these risks as something negative, thus avoiding the destinations which are haunted by different risks such as diseases, terrorism and other forms of political instability (Dickson & Tugwell, 2000).

The current qualitative research inquired about the risks perceived by young people as regards both domestic and international traveling. A sample of 23 was interviewed for this purp...
15 Pages (3750 words) Research Paper

Strategic Pay and Organizational Behavior

Both, Performance-related pay (PRP), as well as  Payment by Results (PBR), are based on the notion that if a worker can vary output by increasing his efforts, the hope of increased pay will lead him to perform his best. Both methods can be applied to an individual as well as a group level. Below is a critical comparison of the two:
Defined in simplest of terms, payment by results can be defined as the scheme of paying incentives in which, the bonus or the variable portion of the payment will be dependent on measurable values of outputs, within studied time limits.

Advantages: The primary advantage of this scheme is the inducement and motivation of workers for higher efficiency and great output. It is better th...
6 Pages (1500 words) Assignment

Analysis of Tourism and Hospitality Law Case

 The main issue that needs to be tackled first is whether there is a valid contract between Richard Brat, carrying on trade as Brighton Greens, (buyer) and Molly and Kelly trading in First Grade Granny Smith apples as Holy Farm.

Apparently, there was, when considering their verbal and written mail sent by Richard to Holy Farm on August 1 reading as follows –“Please deliver 20 boxes –Granny Smith ‘Brighton Greens’. Cheque mailed.“

It may be seen that the mail order does not specify the category or grade of apples to be supplied, but one of the implied conditions of sale could be that the goods ordered need to correspond with the goods inspected and tested.

In th...
8 Pages (2000 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Hospatility and Tourism Strategic Managment for FREE!

Contact Us