Role of Competitive Intelligence in UK Hospitality Firm

Added on - 15 Jan 2020

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Research Project1
EXECUTIVE SUMMARYIn present study, key aspects of competitive intelligence has been discussed so that betterunderstanding can be provided to them. Competitive intelligence isprocess that includesidentifying information on the competitor with respect to requirement of decision-maker andcollect raw data from different sources in a legal and ethical manner. It has also focused onanalysingthe role of competitive intelligence in UK hospitality's firm success. It has beennoticed that the Hilton Hotel employees are effectively focused towards effective development ofcompetitive intelligence. It provides better accomplishment of goals and objectives forsustainable development.2
TABLE OF CONTENTSBRIEF..............................................................................................................................................3RESEARCH AIM AND OBJECTIVES..........................................................................................3RESEARCH QUESTIONS.............................................................................................................4LITERATURE REVIEW................................................................................................................4RESEARCH METHODOLOGY.....................................................................................................7Research paradigm/ research philosophy....................................................................................7Research approach.......................................................................................................................7Research nature............................................................................................................................7Methodological choices and research strategy............................................................................8Research techniques.....................................................................................................................8Population profile, sampling theory and sample size.................................................................9Time frame...................................................................................................................................9Ethical and accessibility issue......................................................................................................9DATA COLLECTION.................................................................................................................10CONCLUSION AND RECOMMENDATION.............................................................................21REFERENCES..............................................................................................................................233
Topic:To analyse the role of competitive intelligence in UK hospitality's firm success: A studyon Hotel Hilton, London.BRIEFHospitality industry is having rapid growth in current market industry but it also facinghigh ratio of competition in the market. It indicates that the understanding in regard tocompetitive intelligence is significant. Competitive intelligence is considered as action thatallows to have effective designing of key factors that may lead business to impressive level ofsuccess. In this, it is also necessary for businesses to have effective gathering of information,analysis and distribution about intelligence. With an assistance of this, the successive factors thatrelates with the product, customer and competitor can be evaluated in desired manner. It clearlyindicates that the environmental aspects can be understand by mangers in appropriate mannerwhich is beneficial to design strategies and ensure that business is attaining various advantages.By having improved focus on competitive intelligence the businesses can improve their customerbase and design strategies in such manner that the operational issues can be overcomeeffectively.Hospitality industry is offering wide range of services to its customers so it is necessaryto ensure that the activities are being designed as consideration of competitive intelligence. Byhaving consideration of this, the better competition can be provided in order to attain benefits.However, there are number of studies has been accomplished in respect to hospitality sector. Butthere was no statement provided in context to role of competitive intelligence in hospitality'sfirm success. Current study is beneficial to understand factors that helps in gaining competitiveadvantage. Hilton Hotel is considered as an organisation in order to meet the key objective of thestudy. Hilton Hotel is one of leading hospitality firm that offers wide range of services to itscustomers. Company is having good brand image in the market that allows to attain bettercompetitive advantage, it means the selection of hotel is appropriate.RESEARCH AIM AND OBJECTIVESThe main aim of research is to analyse the role of competitive intelligence in UKhospitality's firm success: A case study on hotel Hilton. On the basis of given aim, followingobjectives are framed:To explore the meaning of competitive intelligence.4
To examine the role of competitive intelligence in hospitality firm's success.To assess different competitive intelligence strategies used by Hotel Hilton managerRESEARCH QUESTIONSWhat is the meaning of competitive intelligence?What role is played by the concept such as competitive intelligence in hospitality firm'ssuccess?What are the different types of competitive intelligence strategies used by Hotel Hiltonmanager?LITERATURE REVIEWIn the section, discussion is incorporate on varied aspects of competitive intelligence inorder to gain deep understanding related to same. This helps in gaining background informationand also supports in understating the discipline in appropriate manner.Meaning of competitive intelligenceAs per Leonidou and et.al., (2010), Competitive intelligence is the process of gatheringand evaluating information of competitor's strength and weaknesses in the systematic manner totake better decision for business. Further, Xu and et.al., (2011) stated that it is the act to define,collect, analyse information with respect to competitor's product, clients, services that helpsupper level of management to frame strategies for an organisation. It is conducted to understandand learn what's going on in the business world to establish competitive edge in the industry.According to Wang, Chen and Chen (2012), it is the continuous process where firmmonitors industry or market to recognize current and future competitor's activities and analyse itsimpact on the firm and top level executives frame strategies to respond to these activities. Incontrast to this, Huggins (2010) stated that it is the collection of publicly available informationregarding firm's competitors and using that information to gain a competitive advantage overothers.Tavitiyaman and et.al., (2012) defines competitive advantage as deep study andknowledge of the industry and its competitors to survive and sustain for a long time. Someauthors have explained competitive intelligence as the program for gathering and interpreting theinformation in a legal and ethical manner about competitor's positive and negative points tofurther its own company's goal. In addition to this, Huggins (2010)explains competitive5
intelligence in the following way, by taking the help of different public sources like newspaper,channels to collect information about the competitors in the market environment and industrythat would assist executive to make strategic decision of the firm in efficient manner.From the viewpoint of Sigala, Christou and Gretzel (2012), Competitive intelligence isalso known as strategic intelligence, which means that it is a process that includes identifyinginformation on the competitor with respect to requirement of decision-maker and collect rawdata from different sources in a legal and ethical manner and analyse and convert that data intointelligence, so that it can be used by executives to take action for their business accordingly.Role of competitive intelligence in hospitality firm's successAccording to Haase and Franco (2011) competitive intelligence plays integral role infirm's success. Management of company depends upon competitive intelligence to take strategicdecision that gives them an edge over their competitors. It helps the executive to keep their firmupdated and in tune with the business environment. Competitive firm of UK is highlycompetitive as there are number of firms that have good and renowned brand image thatfunctions within country. So it leads the need to know about their competitors thoroughly withthe help of competitive intelligence. In every business environment, firm collects informationabout the competitors to understand and respond back to that research. If the firm does not payattention on competitive intelligence, company may face many complications such as decline ofmarket share and downfall of sales.However, Wang, Chen and Chen (2012) have stated that to take right decisions, theydifferentiate competitive intelligence information from the general information. Tavitiyaman andet.al., (2012) stated that it is a continuous process that helps to add value to the planning andframing strategies process regarding the operations and function for the firm. Leonidou andet.al., (2010) has given that CI has significant importance in business management and practice.It helps the hospitality firm's manager to identify strength and weaknesses of its rivalry. Inaddition to this, it also helps information manager to analyse opportunities and threats that areconnected with the organisation. From the view point of Haase and Franco (2011), it has beenfound that Hospitality manager collects data on industry and external environment to takeinformed decision and monitor the system, customer's or external environment. It enables thefirm to take advantage of the weaknesses of the other firm and setting their strength asbenchmark to reach that level so that firm can grab the opportunities in the best possible way.6
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