Managing Hospitality Resources - Report Example

Managing Hospitality Resources Task: Executive summary This report intends to understand management techniques of the hospitality through the view of a senior manager. In other words, it is going to discuss the step by step procedure of how a concept can be developed for a redundant building and still attract a sizeable clientele; are they able to provide profits despite the existing competitors in the industry? Alternatively, the report provides a brief recommendation on the way forward concerning the implementation of the concept (Barrows & Powers 2008, p. 78). Introduction There are various ways of managing hospitality resources in order to ensure the purposes of hospitality are attained. Therefore, it is imperative to observe that this paper entails scenario whereby a senior manager of hospitality is tasked with developing a concept for a redundant building. On the same note, the discussion attempts to evaluate the factors to be considered before the transformation of the building for hospitality purposes (Barth & Hayes 2007, p.112). Following various complex system and structure of attaining such a proper model, the paper will follow some steps for the start. For example, in order to come with a conclusive research, these steps should be followed: 1. Stakeholder analysis undertaking 2. The assessment of the redundant building. 3. Evaluation of the constraints that affect the selection of land use 4. Assessing of the legal matters that will affect the constraint 5. Matters pertaining to the investor on the context of land use 6. Assessing of land use option 7. Competitors or rivals 8. Appraisal of options and final selection on the technical basis 1. Stakeholder Analysis A stakeholder is an individual who feels the effect a certain business or creates an effect in that entity. Therefore, for a new concept of hospitality involving a redundant building to be successful, it imperative for senior managers to understand all the stakeholders involved. This suggests the senior manager should be aware of the existing stakeholders of the organization they work for and ensure the eventual satisfaction of every stakeholder’s need (Dopson & Hayes, 2008, p. 135). In other words, it is fundamental for the management of the organization to identify the motivating factors of each stakeholder group by determining the strengths at each point and the existing concept. In the same aspect, stakeholders are having likelihood to connect the company in the hospitality industry include: 1. Employee: These entail the prospective and existing employees of the organization. This means the existing employees will desire the building to be utilized for the purpose of their job security (Dopson & Hayes, 2008, p. 135). 2. Local Customers: This entails the clients with the precincts of UK that go the premise if is for a certain purpose. On that note, the conversion of the building would ensure it attracts many customers at once (Issa & Jayawardena 2003, p. 170). 3. Shareholders: These are persons who finance the company and also the owners of the organization. These people always expect the returns of their investments from the redundant premise through exercising the highest and the best utilization for optimum results. 4. Government and its agencies: This comprises of the constraints and the regulations that are stipulated both the national and local government and are equally critical. The reason for this bank on the idea that the permission granted will affect the operation of a given concept (Dopson & Hayes, 2008, p. 137). In other words, there are underlying environmental and legal regulations that are operational within the larger community. 2. Assessment of the Redundant Building In terms of assessment of the redundant building, there are various factors to undertake that are detailed in the context of critical analysis of the present premise. This suggests that there is need to access certain technical details in order to determine the available opportunities that can come from the building. In other words, the impression is that not all redundant buildings can be successfully transformed to a useful purpose. Alternatively, during such assessment, various evaluations should be conducted that include both legal and environmental repercussions (Floyd & Allen 2002, p. 124). This is to avoid expose to dangers for would be visitors and mitigate on liability charges that may arise. 3. Evaluation of the constraints that affect the selection of land use Evaluation of constraints involves conducting an assessment of the state of the premise and giving back a conclusive report on the outcome (Issa & Jayawardena 2003, p. 170). It is also paramount for the management to evaluate the existing requirements and constraints with emphasis on the appropriate stakeholders or authorities who influence the type of the new concept to be adopted. For instance, there are demands of the stakeholders, constraints brought by both legal and environmental concerns that influence the concept. Apart from aforementioned constraints, there are others that encompass issues of finance in the context of resources and time demanded by the consideration. Therefore, in light of the analysis of the building, it is essential for the management to make evaluations for all the appropriate factors. This also entails obtaining the views of the stakeholders. 4. Assessment of Legal Constraints When it comes to the existing legal constraints, there are numerous that may affect a new hospitality. On that note, the categorization is into four major classes (Issa & Jayawardena 2003, p. 168). These are compliance and legal constraints and they are as follows: 1. The ownership of the building and the land ownership are crucial in the industry of hospitality. This suggests that the management will have to make examination of the ownership systems and their reactions and opinions concerning concepts of hospitality. Additionally, it is imperative to verify the legal status of the hospitality ownership (Floyd & Allen 2002, p. 132). 2. It is also essential to consider the environmental protection laws in the context of waste discharge. 3. The consideration of legal conditions should also be given equal consideration during the assessment. This is because the rules will influence the status of the new concept. 5. Investor Concerns & Optimum Land Use In terms of return on investments, this is whereby the ration of money to be attained to that to be invested is weighed and an evaluation conducted (Lockyer 2007, p. 117). This suggests that investors will make expectations to break even in order to accrue profits. Therefore, when there are higher returns from an investment then there will be faster making of profits. Additionally, whenever there are maximum returns from a business then there are also direct benefits to the management and workers. This is because there is an expansion of the remunerations for the working employees and the managers. Alternatively, if there is a generation of some revenue from a business, it suggests the owners’ interests and that of the employees will have a win-win situation. 6. Competitors It is important to factor in the rivals in the hospitality industry before making any undertakings of the business chosen by the organization. This suggests that in making the choice of a given concept, the available options of the rivals should take note (Issa & Jayawardena 2003, p. 170). Additionally, this has the benefit of assisting the organization in the formulation of an honest analysis of the competition and the market in the context of proper conception. Alternatively, the assessment of the competitiveness of the rivals should take the consideration of the survival of the business of the new concept. 7. Appraisal of Options and Final Selection There is an urgent need to make an outline after the management has obtained all the stakeholders preferences and views pertaining to hospitality concepts (Hunter 2004, p.189). After the successful completion of the existing conceptions where the building can be erected within the hospitality industry, the factors of business functions can be considered. Furthermore, the options outlined should be evaluated with criticality and assessed on the context of stakeholder desires, needs including constraints of finance and legal aspects. On the same scope, the chosen outlines will enable the senior manager in the correct choice of the land to be used effectively. 8. Accommodation Design As aforementioned, there is an urgent need to be examined critically the present redundant building on various contexts. This include on matters of technical, social and cultural grounds and the existing constraints of the organization (Hepple et al 2002, p.310). This suggests that the completion of the appraisal will herald the formulation an appropriate design in order to support the chosen concept. On that note, there are several factors and situations citied by experts that have direct influence on the design of an entity within the hostel industry. They entail matters of location, capacity of the redundant premise, conditions of the infrastructure in the area, lighting, units that will fit the building concept, occupancy and maintenance among others. Conclusion In terms of making the choice of a concept that may be applicable for a hospitality company for a redundant building, there is an imperative to make some evaluations (Griffins 2008, p.56). For example, it is crucial to incorporate the stakeholders in the choice in order to identify the needs and preferences of the business. Additionally, the design of the premise should consider the reality of the location and existing infrastructure among other things. Recommendations It is essential for senior managers in the hospitality industry to perform research on the role of stakeholders, customers and clients in the success of the industry (Fredrick 2007, p. 89). Additionally, there is an imperative responsibility for the implementation of the concept in the redundant buildings of the industry. Bibliography Barrows, C & Powers T 2008, Introduction to Management in the Hospitality Industry, John Wiley & Sons, New York. Barth, S & Hayes, D 2007, Hospitality Law Hoboken, John Wiley & Sons, New York. Dopson L & Hayes D 2008, Managerial Accounting for the Hospitality Industry, John Wiley & Sons, New York. Floyd, C & Allen, M 2002, Real Estate Principles Dearborn Real Estate Education, Springer, Mason. Fredrick, D (2007),’ Exploring hospitality’, UDaily 13 Nov. p.4. Griffins, H (2008), ‘The Fundamentals of Hospitality,’ New York Times, 17 Feb. p.7 Hepple, J et al 2002, ‘The concept of hospitality and an evaluation of its applicability to the experience of hospital patients’, International Journal of Hospitality Management, Vol .9 No.4, pp. 305-318. Hunter, L (2004), ‘Hospitality and the Concepts of Profits,’ ABC Online, viewed on 14 Aug. Issa, J & Jayawardena, C 2003, ‘The Concept of Hospitality’, International Journal of Contemporary Hospitality Management, Vol.15, No3, pp. 167-171. Lockyer, T 2007, The International Hotel Industry: Sustainable Management, Routledge, New York. Read More