Emerging Trends in the Hospitality Industry
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This document discusses the emerging trends in the hospitality industry and their impact on organizations and the wider community. It explores various leadership styles implemented in the industry, assesses organizational responsibility and its role in facilitating competitive advantage, and evaluates the importance of corporate social responsibility. The document focuses on the case of Hyatt Hospitality Company and provides insights into their leadership style, competitive strategies, and CSR initiatives.
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Emerging
Trends
In
The
Hospitality
Industry
Trends
In
The
Hospitality
Industry
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Table of Contents
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
1. Apply various types of appropriate leadership style implemented by hospitality industry3
2. Assess organisation responsibility with responsible leadership to facilitate competitive
advantage................................................................................................................................5
3. Evaluate Corporate Social Responsibility (CSR) that is advantageous for organisation as
well as wider community........................................................................................................7
4. Justify the benefits of social media and its risks which affects organisation with their
solution for solving these problems........................................................................................8
CONCLUSION........................................................................................................................11
REFERENCES.........................................................................................................................12
INTRODUCTION......................................................................................................................3
MAIN BODY.............................................................................................................................3
1. Apply various types of appropriate leadership style implemented by hospitality industry3
2. Assess organisation responsibility with responsible leadership to facilitate competitive
advantage................................................................................................................................5
3. Evaluate Corporate Social Responsibility (CSR) that is advantageous for organisation as
well as wider community........................................................................................................7
4. Justify the benefits of social media and its risks which affects organisation with their
solution for solving these problems........................................................................................8
CONCLUSION........................................................................................................................11
REFERENCES.........................................................................................................................12
INTRODUCTION
Industry is a sector which produces goods and services within an economy that is
further categorised in healthcare, hospitality, information technology, retail, financial
services, education etc. Hospitality industry refers as wide range of service industry which
includes lodging, food and drink service, event planning, transportation and theme parking.
The organisation selected for this project is Hyatt Hospitality Company as being an American
multinational industry headquartered in Chicago, Illinois and United Stated. It manages and
franchises luxury and business hotels, resorts and vacation properties for guests to survive
their livelihood comfortably. This project applies various types of appropriate leadership style
within hospitality industry (Anton and GAREEV, 2019). It further assesses organisational
accountability with responsible leaders to facilitate competitive advantage in order to sustain
in perfect competition market. Additionally, this project evaluates corporate social
responsibility that is advantageous for organisation as well as wider community. It also
justifies the benefits of social media with related risk that adversely affects organisation by
providing solutions for those problems to achieve goals and objectives.
MAIN BODY
1. Apply various types of appropriate leadership style implemented by hospitality industry
Hospitality Industry:- The hospitality service industry is a level of assistance
provided by hotel staff to purchase materials for luxury of their clients. Managers of Hyatt
Hotel provide facilitates with providing amenities such as casinos, amusement parks, events,
cruises, entertainment services, etc., for relaxation of guests.
Leadership style:- This is described as various methods of leaders for providing
direction, implementing plans and motivates people to perform their actions with the motive
to achieve specific target. Leaders of Hyatt Hotel focus on their leadership style as to build
strength for controlling weakness and increase opportunities to overcome threats.
Types of leadership style:-
Autocratic:- It is one-dimensional leadership style which give full power to the boss
or leader of whole team. This is mandatory for all the members of group to follow the
instructions of leaders and perform their actions in accordance with the demand.
Leaders of Hyatt Hotel can use this as to take all decision for goal achievement
without consulting to its subordinates (Borovskaia and Dedova, 2014).
Charismatic:- This refers as the smart behaviour of leader who automatically attracts
people with intelligence and confidence for being charm as well as charismatic in
nature. Leaders of Hyatt Hotel can use this for becoming self-motivated, passionate
and confident while undertaking decisions for building strong brand image of hotel.
Transactional:- It is the leadership style in which leader is focused on group of
organisation for establishing a clear chain of command and implementing carrot-and-
stick approach to management activities. Leaders of Hyatt Hotel can use this as to
Industry is a sector which produces goods and services within an economy that is
further categorised in healthcare, hospitality, information technology, retail, financial
services, education etc. Hospitality industry refers as wide range of service industry which
includes lodging, food and drink service, event planning, transportation and theme parking.
The organisation selected for this project is Hyatt Hospitality Company as being an American
multinational industry headquartered in Chicago, Illinois and United Stated. It manages and
franchises luxury and business hotels, resorts and vacation properties for guests to survive
their livelihood comfortably. This project applies various types of appropriate leadership style
within hospitality industry (Anton and GAREEV, 2019). It further assesses organisational
accountability with responsible leaders to facilitate competitive advantage in order to sustain
in perfect competition market. Additionally, this project evaluates corporate social
responsibility that is advantageous for organisation as well as wider community. It also
justifies the benefits of social media with related risk that adversely affects organisation by
providing solutions for those problems to achieve goals and objectives.
MAIN BODY
1. Apply various types of appropriate leadership style implemented by hospitality industry
Hospitality Industry:- The hospitality service industry is a level of assistance
provided by hotel staff to purchase materials for luxury of their clients. Managers of Hyatt
Hotel provide facilitates with providing amenities such as casinos, amusement parks, events,
cruises, entertainment services, etc., for relaxation of guests.
Leadership style:- This is described as various methods of leaders for providing
direction, implementing plans and motivates people to perform their actions with the motive
to achieve specific target. Leaders of Hyatt Hotel focus on their leadership style as to build
strength for controlling weakness and increase opportunities to overcome threats.
Types of leadership style:-
Autocratic:- It is one-dimensional leadership style which give full power to the boss
or leader of whole team. This is mandatory for all the members of group to follow the
instructions of leaders and perform their actions in accordance with the demand.
Leaders of Hyatt Hotel can use this as to take all decision for goal achievement
without consulting to its subordinates (Borovskaia and Dedova, 2014).
Charismatic:- This refers as the smart behaviour of leader who automatically attracts
people with intelligence and confidence for being charm as well as charismatic in
nature. Leaders of Hyatt Hotel can use this for becoming self-motivated, passionate
and confident while undertaking decisions for building strong brand image of hotel.
Transactional:- It is the leadership style in which leader is focused on group of
organisation for establishing a clear chain of command and implementing carrot-and-
stick approach to management activities. Leaders of Hyatt Hotel can use this as to
provide an offer of exchange by rewarding good performance and punishing bad
practices.
Democratic:- This is the most effective leadership style which allow lower-level
employees to exercise authorities which may be wisely used by them in future.
Leaders of Hyatt Hotel can use this for giving the team some decision-related options
in order to increase their engagement and involvement (Filimonau and Mika, 2019).
Servant Style:- A servant leader is described as an excellent leadership style for
organisation which is not applicable in profit sharing ratios. Leaders of Hyatt Hotel
can use this for their exceptional skills in building employee morale and helping
people to re-engage with their work.
Coaching:- This leadership style emphasize leaders to perform their task as being the
coach or instructor of whole team by boosting employee motivation, increasing their
performance skills. Leaders of Hyatt Hotel can use this to groom and motivate team
members by encouraging them that their small effort means a lot to organisation.
Affiliative:- It is the ability of leaders to build employee relations with their workers
by understanding emotional needs of team members by forming collaborative
relationships with them. Leaders of Hyatt Hotel can use this for solving conflicts
among team members and reduce stress at various circumstances.
Laissez-Fire:- This leadership style is defined as the leader delegate its responsibility
to their team members for performing their actions on their own with minimum or no
interference. Leaders of Hyatt Hotel can use this for giving maximum scope of
innovation and flexibility as they are capable to complete the task with their
specialisation.
Bureaucratic:- It is similar to autocratic leadership style but have little difference as
to focus on duties and responsibility of their employees by building good relation
through collaboration and creativity. Leaders of Hyatt Hotel can use this to highly
regulate their various departments with policies and procedures (Goh and Jie, 2019).
Transformational:- This leadership style identifies various changes which are to be
taken by creating a vision. Leaders of Hyatt hotel can use this to motivate workers by
increasing self-efficacy among each other for accomplishing success.
The various approaches of leadership style:-
Situational:- This approach of leadership style refers that the leader changes its style
in accordance with drive of situation for meeting the desired goals and objectives.
Leaders of Hyatt Hotel implement this as to analyse the work done by their workforce
at particular duration. It further emphasizes leaders to improve efficiency with their
specialisation by changing their leadership style to achieve success within particular
time period.
System:- It is the systematic leadership style where leaders direct or instruct their
workers to complete their actions in particular system. Leaders of Hyatt Hotel can use
this approach as to evaluate market elements which affect the profitability ratios of
business for remaining stable in global market (Kang, Lee and Yoo, 2016).
practices.
Democratic:- This is the most effective leadership style which allow lower-level
employees to exercise authorities which may be wisely used by them in future.
Leaders of Hyatt Hotel can use this for giving the team some decision-related options
in order to increase their engagement and involvement (Filimonau and Mika, 2019).
Servant Style:- A servant leader is described as an excellent leadership style for
organisation which is not applicable in profit sharing ratios. Leaders of Hyatt Hotel
can use this for their exceptional skills in building employee morale and helping
people to re-engage with their work.
Coaching:- This leadership style emphasize leaders to perform their task as being the
coach or instructor of whole team by boosting employee motivation, increasing their
performance skills. Leaders of Hyatt Hotel can use this to groom and motivate team
members by encouraging them that their small effort means a lot to organisation.
Affiliative:- It is the ability of leaders to build employee relations with their workers
by understanding emotional needs of team members by forming collaborative
relationships with them. Leaders of Hyatt Hotel can use this for solving conflicts
among team members and reduce stress at various circumstances.
Laissez-Fire:- This leadership style is defined as the leader delegate its responsibility
to their team members for performing their actions on their own with minimum or no
interference. Leaders of Hyatt Hotel can use this for giving maximum scope of
innovation and flexibility as they are capable to complete the task with their
specialisation.
Bureaucratic:- It is similar to autocratic leadership style but have little difference as
to focus on duties and responsibility of their employees by building good relation
through collaboration and creativity. Leaders of Hyatt Hotel can use this to highly
regulate their various departments with policies and procedures (Goh and Jie, 2019).
Transformational:- This leadership style identifies various changes which are to be
taken by creating a vision. Leaders of Hyatt hotel can use this to motivate workers by
increasing self-efficacy among each other for accomplishing success.
The various approaches of leadership style:-
Situational:- This approach of leadership style refers that the leader changes its style
in accordance with drive of situation for meeting the desired goals and objectives.
Leaders of Hyatt Hotel implement this as to analyse the work done by their workforce
at particular duration. It further emphasizes leaders to improve efficiency with their
specialisation by changing their leadership style to achieve success within particular
time period.
System:- It is the systematic leadership style where leaders direct or instruct their
workers to complete their actions in particular system. Leaders of Hyatt Hotel can use
this approach as to evaluate market elements which affect the profitability ratios of
business for remaining stable in global market (Kang, Lee and Yoo, 2016).
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Contingency:- This approach refers as the combination of situational and system
leadership style for creating opportunity of growth and stability to compete with
rivalries. Leaders of Hyatt Hotel can use this as to run the business in systematic
manner and at the time of various circumstances and critical situations to implement
situational approach.
From the above prescribed approach of leadership style, leaders of Hyatt Hotel adopt
the contingency theory as to meet their desired goals and objectives. It is essential for
hospitality industry as to perform their action with systematic manner by building employee
relations to sustain in global market.
2. Assess organisation responsibility with responsible leadership to facilitate competitive
advantage
Competitive Advantage:- It is the procedure for a company to produce its finished
goods or services with better quality and at cheap prices as compared to its rivalries. This
further creates opportunity for growth and stability of business to develop its competitive
advantages through increasing strength for controlling weakness and expanding opportunities
to overcome threats. Managers of Hyatt Hotel focus on their competitive strategies as to
compete with rivalries by building customers relationship management for enlarging clients
to accommodate in their hotels for increasing brand image (McHugh and Yarmey, 2014).
Organisational Responsibility:- This is defined as the ethical behaviour of an
organisation by implementing context-specific organisational actions and policies with
application of legal legislations. Managers of Hyatt Hotel focus on this responsibility as to
analyse the health and safety of workers performing actions in order to accomplish goals and
objectives. The main purpose of hospitality industry is to fulfil the requirement of guests by
providing them luxurious and comfortable lifestyle. It is the duty and responsibility of
managers and leaders to consider upon most two factors of their organisation which are
employees and customers for increasing competitive strategies. These are mentioned below
with reference to managers of Hyatt Hotel are as follows:-
Consider to Employees:-
Build relation:- It is the duty of managers to build employee relations among their
workers through which they are able to share views and information among one
another. Managers of Hyatt Hotel have the responsibility as to develop co-ordination
between their leaders and workforce through which they understand their emotions at
various circumstances and support them. It leads to develop their strength by
performing task with collaboration to compete with rivalries such as Hilton Hotel,
Marriott Hotel, etc.
Improve motivation:- This refers as the inspiration for workforce to complete their
task with the motive of achieving individual and organisational goals (Mohanty,
2019). Managers of Hyatt Hotel are responsible for providing motivation through
giving monetary and non-monetary rewards such as bonus, incentives, degrees,
performance appraisal, promotion, etc.
leadership style for creating opportunity of growth and stability to compete with
rivalries. Leaders of Hyatt Hotel can use this as to run the business in systematic
manner and at the time of various circumstances and critical situations to implement
situational approach.
From the above prescribed approach of leadership style, leaders of Hyatt Hotel adopt
the contingency theory as to meet their desired goals and objectives. It is essential for
hospitality industry as to perform their action with systematic manner by building employee
relations to sustain in global market.
2. Assess organisation responsibility with responsible leadership to facilitate competitive
advantage
Competitive Advantage:- It is the procedure for a company to produce its finished
goods or services with better quality and at cheap prices as compared to its rivalries. This
further creates opportunity for growth and stability of business to develop its competitive
advantages through increasing strength for controlling weakness and expanding opportunities
to overcome threats. Managers of Hyatt Hotel focus on their competitive strategies as to
compete with rivalries by building customers relationship management for enlarging clients
to accommodate in their hotels for increasing brand image (McHugh and Yarmey, 2014).
Organisational Responsibility:- This is defined as the ethical behaviour of an
organisation by implementing context-specific organisational actions and policies with
application of legal legislations. Managers of Hyatt Hotel focus on this responsibility as to
analyse the health and safety of workers performing actions in order to accomplish goals and
objectives. The main purpose of hospitality industry is to fulfil the requirement of guests by
providing them luxurious and comfortable lifestyle. It is the duty and responsibility of
managers and leaders to consider upon most two factors of their organisation which are
employees and customers for increasing competitive strategies. These are mentioned below
with reference to managers of Hyatt Hotel are as follows:-
Consider to Employees:-
Build relation:- It is the duty of managers to build employee relations among their
workers through which they are able to share views and information among one
another. Managers of Hyatt Hotel have the responsibility as to develop co-ordination
between their leaders and workforce through which they understand their emotions at
various circumstances and support them. It leads to develop their strength by
performing task with collaboration to compete with rivalries such as Hilton Hotel,
Marriott Hotel, etc.
Improve motivation:- This refers as the inspiration for workforce to complete their
task with the motive of achieving individual and organisational goals (Mohanty,
2019). Managers of Hyatt Hotel are responsible for providing motivation through
giving monetary and non-monetary rewards such as bonus, incentives, degrees,
performance appraisal, promotion, etc.
Provide training:- It is the procedure through which managers directs leaders to
provide camps for training and development of their workers in order to increase
skills for specialisation. Leaders of Hyatt Hotel provide training programmes for their
workforce as to restrict errors through corrective measures for remaining stable in
global market. It results in accomplishing the goals and objectives efficiently as
compared to its competitors for sustaining in perfect competition market.
Health and Safety:- This is the duty of managers to provide health and safety
measurements to their workforce such as helmets, gloves, insurance, etc., in order to
survive their lifestyle effectively. Managers of Hyatt Hotel facilitate this as being their
responsibility to encourage workers for completing their task with eagerness
(Montúfar Fandiño, 2014).
Consider to customers:-
Customer satisfaction:- The most important duty of manager is to manufacture
qualitative goods which is capable to meet the needs of their customers through
providing them high level of satisfaction. It is essential for an organisation to fulfil the
requirement of their end-users for increasing their competitive strategies. Managers of
Hyatt Hotel focus on this as to provide luxury, comfort and relaxation through
facilitating their hotel with good environment and beautiful atmosphere to survive
easily.
Total Quality Management (TQM):- The duty of managers is to develop their
finished goods and services with total quality management that leads to enlarge guest
for consuming more products. It is the responsibility of managers to be aware of the
manufacturing procedure or services provided by various departments in order to
meet requirements. This leads to increase competitive advantage as facilitating with
good image and reputation for customers to relax in hotel.
Increase loyalty and support:- This is the most effective responsibility of managers
to give proper amenities for their guest at minimised cost for attracting them to come
again and again in hotel. Managers of Hyatt Hotel perform their duty with courtesy as
it enhances loyalty and support of their customers through which they are ready to pay
high prices for qualitative services.
Analyse needs and requirements:- It is the process through which managers are
entitled to analyse the change in taste and preference of their modernised customers
for meeting requirements efficiently. Manager of Hyatt Hotel focus on the needs,
desires and wants of their customers for fulfilling it within particular time period to
achieve success (Mooney, 2016).
The responsibility of a good Leader is being delegator to discriminate task in
accordance with the capability of workforce. It further effectively communicates to its team
by directing and guiding them about their roles and responsibilities. The leader must have
self-confidence that the strategy implemented must lead whole team to achieve specific target
efficiently. It is the most important duty of a leader to be honest and develop good strategy
for achieving success that creates opportunity to compete with rivalries.
provide camps for training and development of their workers in order to increase
skills for specialisation. Leaders of Hyatt Hotel provide training programmes for their
workforce as to restrict errors through corrective measures for remaining stable in
global market. It results in accomplishing the goals and objectives efficiently as
compared to its competitors for sustaining in perfect competition market.
Health and Safety:- This is the duty of managers to provide health and safety
measurements to their workforce such as helmets, gloves, insurance, etc., in order to
survive their lifestyle effectively. Managers of Hyatt Hotel facilitate this as being their
responsibility to encourage workers for completing their task with eagerness
(Montúfar Fandiño, 2014).
Consider to customers:-
Customer satisfaction:- The most important duty of manager is to manufacture
qualitative goods which is capable to meet the needs of their customers through
providing them high level of satisfaction. It is essential for an organisation to fulfil the
requirement of their end-users for increasing their competitive strategies. Managers of
Hyatt Hotel focus on this as to provide luxury, comfort and relaxation through
facilitating their hotel with good environment and beautiful atmosphere to survive
easily.
Total Quality Management (TQM):- The duty of managers is to develop their
finished goods and services with total quality management that leads to enlarge guest
for consuming more products. It is the responsibility of managers to be aware of the
manufacturing procedure or services provided by various departments in order to
meet requirements. This leads to increase competitive advantage as facilitating with
good image and reputation for customers to relax in hotel.
Increase loyalty and support:- This is the most effective responsibility of managers
to give proper amenities for their guest at minimised cost for attracting them to come
again and again in hotel. Managers of Hyatt Hotel perform their duty with courtesy as
it enhances loyalty and support of their customers through which they are ready to pay
high prices for qualitative services.
Analyse needs and requirements:- It is the process through which managers are
entitled to analyse the change in taste and preference of their modernised customers
for meeting requirements efficiently. Manager of Hyatt Hotel focus on the needs,
desires and wants of their customers for fulfilling it within particular time period to
achieve success (Mooney, 2016).
The responsibility of a good Leader is being delegator to discriminate task in
accordance with the capability of workforce. It further effectively communicates to its team
by directing and guiding them about their roles and responsibilities. The leader must have
self-confidence that the strategy implemented must lead whole team to achieve specific target
efficiently. It is the most important duty of a leader to be honest and develop good strategy
for achieving success that creates opportunity to compete with rivalries.
The various types of organisational sectors are categorised below as:-
Public:- This sector is mostly governed with rules and regulations imposed by
government for not maximising profits. It is a not-for-profit organisation which is
described as small business. Managers focus on building good employee relation and
provide health and safety measurement to their workforce for increasing their
competitive strategies.
Private:- It is the privately owned sector which does not involve the interference of
government. This sector consists of two or more than two entrepreneurs with the
motive to maximise their profits. Managers of Hyatt Hotel focus on building customer
relationship management by providing high level of satisfaction (Rauf, 2014).
Voluntary:- This sector is non-departmental organisation whose motive is to provide
social welfare by facilitating with charity and donations. The main purpose of
managers is to perform their actions for not-profit making company.
3. Evaluate Corporate Social Responsibility (CSR) that is advantageous for organisation as
well as wider community
Corporate Social Responsibility (CSR):- The corporate social responsibility is a
management concept where company integrates social and environmental concerns in their
business operations and interactions with stakeholders. Managers of Hyatt Hotel are helpful
as they are capable in reducing costs, improving company’s brand name and facilitate in
long-term financial success.
Importance of Corporate Social Responsibility (CSR):- The various importance of
corporate social responsibility has been discussed below which are as follows:-
Brand Value:- A well managed corporate social responsibility programme increase
brand equity, awareness and build strong values of an organisation in front of its
customers. Managers of Hyatt Hotel have the brand value of 3.68 billion US dollars
which is significantly higher than the previous year. It is essential for an organisation
as customers are more aware and attracted towards the high ratings which depicts the
good atmosphere of hotel.
Increase sales:- This is the ability of hospitality industry as to develop its services in
accordance with the change in taste and preference of their customers. The main
purpose for managers of Hyatt Hotel is to increase sales by promoting and positioning
their qualitative services for enlarging clients to book rooms within their hotel.
Managers are advantageous as they are able to build customer relationship
management with their clients that leads to increase their support and loyalty (Ryan,
2015).
Build employee relation:- The managers of hospitality industry develops employee
relation within hotel and restaurant in between various departments. The interaction
with reception to housekeeping department as to inform them for cleaning the rooms,
front office department communicating with food and beverage sector as to provide
dish in accordance with demand of guest. Managers of Hyatt Hotel are beneficial with
corporate social responsibility as very department know its duties and responsibilities
Public:- This sector is mostly governed with rules and regulations imposed by
government for not maximising profits. It is a not-for-profit organisation which is
described as small business. Managers focus on building good employee relation and
provide health and safety measurement to their workforce for increasing their
competitive strategies.
Private:- It is the privately owned sector which does not involve the interference of
government. This sector consists of two or more than two entrepreneurs with the
motive to maximise their profits. Managers of Hyatt Hotel focus on building customer
relationship management by providing high level of satisfaction (Rauf, 2014).
Voluntary:- This sector is non-departmental organisation whose motive is to provide
social welfare by facilitating with charity and donations. The main purpose of
managers is to perform their actions for not-profit making company.
3. Evaluate Corporate Social Responsibility (CSR) that is advantageous for organisation as
well as wider community
Corporate Social Responsibility (CSR):- The corporate social responsibility is a
management concept where company integrates social and environmental concerns in their
business operations and interactions with stakeholders. Managers of Hyatt Hotel are helpful
as they are capable in reducing costs, improving company’s brand name and facilitate in
long-term financial success.
Importance of Corporate Social Responsibility (CSR):- The various importance of
corporate social responsibility has been discussed below which are as follows:-
Brand Value:- A well managed corporate social responsibility programme increase
brand equity, awareness and build strong values of an organisation in front of its
customers. Managers of Hyatt Hotel have the brand value of 3.68 billion US dollars
which is significantly higher than the previous year. It is essential for an organisation
as customers are more aware and attracted towards the high ratings which depicts the
good atmosphere of hotel.
Increase sales:- This is the ability of hospitality industry as to develop its services in
accordance with the change in taste and preference of their customers. The main
purpose for managers of Hyatt Hotel is to increase sales by promoting and positioning
their qualitative services for enlarging clients to book rooms within their hotel.
Managers are advantageous as they are able to build customer relationship
management with their clients that leads to increase their support and loyalty (Ryan,
2015).
Build employee relation:- The managers of hospitality industry develops employee
relation within hotel and restaurant in between various departments. The interaction
with reception to housekeeping department as to inform them for cleaning the rooms,
front office department communicating with food and beverage sector as to provide
dish in accordance with demand of guest. Managers of Hyatt Hotel are beneficial with
corporate social responsibility as very department know its duties and responsibilities
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and play their role effectively in order to build competitive strategies for competing
with rivalries.
Least-cost effective:- It is the ability of managers to focus on manufacturing and
providing qualitative services by restricting cost which leads to keep their pricing
strategy at least-cost. Managers of Hyatt Hotel are profitable as they are capable to
enlarge customers for providing their amenities at least price which creates
opportunity for growth and stability of business. It also leads to develop competitive
strategies by enhancing revenue, profitability ratios and market share.
Risk management:- The main duty of an entrepreneur is to undertake high risk for
managing its effectively by converting it into high return in future. Managers of Hyatt
Hotel are capable in assessing risk by organising their circumstances effectively in
order to co-operate with their leaders and workers (Schuckert, Liu and Law, 2015). It
is beneficial for managers as to develop the precautionary steps by analysing threats
and uncontrollable risk to minimise it for being stable in perfect competition market.
Advantageous of Corporate Social Responsibility (CSR):-
Loyal customers:- It is the duty of market research and development to analyse the
needs, desire and wants of their customers by encouraging workers for achieving
individual and organisational goals. Managers of Hyatt Hotel are advantageous as
they are capable in accomplishing success efficiently with their proper qualitative
services which attracts customers to survive their lifestyle comfortably. It enhances
loyalty and support of their guest by attracting people to come repeatedly as they will
be provided discount for being their existing clients.
Positive public attention:- The managers of an organisation promotes and position
their potential customers about their specialised facilities which attracts them to enjoy
their life. It is the opportunity for buyers to survive their livelihood with lots of
luxurious and comfortable services to relax themselves from lots of stress and tension.
Managers of Hyatt Hotel are beneficial as they have increase in sale which maximise
profits and market share.
4. Justify the benefits of social media and its risks which affects organisation with their
solution for solving these problems
Social Media:- The social media is described as interactive computer-mediated
technologies that facilitates in creation or sharing of ideas, information, career interest, etc. It
is mostly used to keep in touch with friends and extended family. Managers of Hyatt Hotel
implement this social media as to analyse the perception and level of satisfaction to their
customers marked on online websites (Sheresheva and Kopiski, 2016). There are various
applications through which social media takes place which are Facebook, WhatsApp,
Wechat, Instagram, Twitter, Google, YouTube, etc. It creates opportunity for customers to
recognise the ranking strategy by other people for particular organisation with their level of
satisfaction. The producers are beneficial as they have the ability to determine various
strategies adopted by their competitors and the needs, desire and wants of customers.
with rivalries.
Least-cost effective:- It is the ability of managers to focus on manufacturing and
providing qualitative services by restricting cost which leads to keep their pricing
strategy at least-cost. Managers of Hyatt Hotel are profitable as they are capable to
enlarge customers for providing their amenities at least price which creates
opportunity for growth and stability of business. It also leads to develop competitive
strategies by enhancing revenue, profitability ratios and market share.
Risk management:- The main duty of an entrepreneur is to undertake high risk for
managing its effectively by converting it into high return in future. Managers of Hyatt
Hotel are capable in assessing risk by organising their circumstances effectively in
order to co-operate with their leaders and workers (Schuckert, Liu and Law, 2015). It
is beneficial for managers as to develop the precautionary steps by analysing threats
and uncontrollable risk to minimise it for being stable in perfect competition market.
Advantageous of Corporate Social Responsibility (CSR):-
Loyal customers:- It is the duty of market research and development to analyse the
needs, desire and wants of their customers by encouraging workers for achieving
individual and organisational goals. Managers of Hyatt Hotel are advantageous as
they are capable in accomplishing success efficiently with their proper qualitative
services which attracts customers to survive their lifestyle comfortably. It enhances
loyalty and support of their guest by attracting people to come repeatedly as they will
be provided discount for being their existing clients.
Positive public attention:- The managers of an organisation promotes and position
their potential customers about their specialised facilities which attracts them to enjoy
their life. It is the opportunity for buyers to survive their livelihood with lots of
luxurious and comfortable services to relax themselves from lots of stress and tension.
Managers of Hyatt Hotel are beneficial as they have increase in sale which maximise
profits and market share.
4. Justify the benefits of social media and its risks which affects organisation with their
solution for solving these problems
Social Media:- The social media is described as interactive computer-mediated
technologies that facilitates in creation or sharing of ideas, information, career interest, etc. It
is mostly used to keep in touch with friends and extended family. Managers of Hyatt Hotel
implement this social media as to analyse the perception and level of satisfaction to their
customers marked on online websites (Sheresheva and Kopiski, 2016). There are various
applications through which social media takes place which are Facebook, WhatsApp,
Wechat, Instagram, Twitter, Google, YouTube, etc. It creates opportunity for customers to
recognise the ranking strategy by other people for particular organisation with their level of
satisfaction. The producers are beneficial as they have the ability to determine various
strategies adopted by their competitors and the needs, desire and wants of customers.
Types of social media:- There are five types of social media which are mentioned
with reference to managers of Hyatt Hotel is shown below as:-
Social networks:- The managers of Hyatt Hotel can use this network as to build
brand awareness and generates new leads. It further develops customer relationship
management by providing qualitative services for their luxurious life. This features is
mostly empowered with the help of Facebook, Twitter and LinkedIn.
Media sharing networks:- Managers of Hyatt Hotel can use this for sharing medias
of images and videos through networks. It is mostly possible with Instagram,
YouTube, Pinterest, etc.
Social blogging networks:- The managers of Hyatt Hotel can use this as blogging
networks which allow producers to publish content for target their audience. This is
the ability of building engagement and involvement for building familiar relation
between business and customers. Example:- Tumbler, Medium.
Discussion networks:- Managers of Hyatt Hotel can use this as to discuss and share
news, information and opinions on networks. It is the most important system for
market research and analyse the competitors. It is possible with various social media
such as Reddit and Quora (Sung and Ozuem, 2015).
Review networks:- The managers of Hyatt Hotel can use this as to know which sites
are influenced solely by users. Review networks are a prime example of social
websites that impact audience for depending on it with 100% assurity. It can be done
with Yelp and Glassdoor as to provide the real and truth functions.
Benefits of Social media:-
Increase brand awareness:- The social media promotes and position their brand
image with their advertisements that attracts customers to purchase more qualitative
products at least price. Managers of Hyatt Hotel are beneficial as they increase their
brand awareness which enlarge customers to capture or stay in their hotel which leads
to increase sales. It further creates opportunity for growth and stability of business to
sustain in perfect competition market with its developed competitive strategies.
Track competition:- The main purpose of every organisation is to analyse their
various competitors in perfect competition market with their varied products and
substitutes. It is the duty for managers of Hyatt Hotel as to recognise their rivalries in
order to identify their competitive strategies which might create threats for company.
The responsibility for managers of Hyatt Hotel is to strategise their services with
innovative idea through strategic decision-making procedure for competing with
rivalries in global market (THOMAS, 2020).
Increase visibility:- There are millions of people using social media platforms such
as users for YouTube – 73%, Facebook – 68%, Instagram – 35%, Twitter – 24%, etc.
It is beneficial for organisation as to reach large number of people with less expense
and attract the whole world with these social media applications. Managers of Hyatt
Hotel are able to reach large number of target market which is a huge advantage for
the company by boosting organic advertisements.
with reference to managers of Hyatt Hotel is shown below as:-
Social networks:- The managers of Hyatt Hotel can use this network as to build
brand awareness and generates new leads. It further develops customer relationship
management by providing qualitative services for their luxurious life. This features is
mostly empowered with the help of Facebook, Twitter and LinkedIn.
Media sharing networks:- Managers of Hyatt Hotel can use this for sharing medias
of images and videos through networks. It is mostly possible with Instagram,
YouTube, Pinterest, etc.
Social blogging networks:- The managers of Hyatt Hotel can use this as blogging
networks which allow producers to publish content for target their audience. This is
the ability of building engagement and involvement for building familiar relation
between business and customers. Example:- Tumbler, Medium.
Discussion networks:- Managers of Hyatt Hotel can use this as to discuss and share
news, information and opinions on networks. It is the most important system for
market research and analyse the competitors. It is possible with various social media
such as Reddit and Quora (Sung and Ozuem, 2015).
Review networks:- The managers of Hyatt Hotel can use this as to know which sites
are influenced solely by users. Review networks are a prime example of social
websites that impact audience for depending on it with 100% assurity. It can be done
with Yelp and Glassdoor as to provide the real and truth functions.
Benefits of Social media:-
Increase brand awareness:- The social media promotes and position their brand
image with their advertisements that attracts customers to purchase more qualitative
products at least price. Managers of Hyatt Hotel are beneficial as they increase their
brand awareness which enlarge customers to capture or stay in their hotel which leads
to increase sales. It further creates opportunity for growth and stability of business to
sustain in perfect competition market with its developed competitive strategies.
Track competition:- The main purpose of every organisation is to analyse their
various competitors in perfect competition market with their varied products and
substitutes. It is the duty for managers of Hyatt Hotel as to recognise their rivalries in
order to identify their competitive strategies which might create threats for company.
The responsibility for managers of Hyatt Hotel is to strategise their services with
innovative idea through strategic decision-making procedure for competing with
rivalries in global market (THOMAS, 2020).
Increase visibility:- There are millions of people using social media platforms such
as users for YouTube – 73%, Facebook – 68%, Instagram – 35%, Twitter – 24%, etc.
It is beneficial for organisation as to reach large number of people with less expense
and attract the whole world with these social media applications. Managers of Hyatt
Hotel are able to reach large number of target market which is a huge advantage for
the company by boosting organic advertisements.
Connect anytime:- The social media helps the producers and customers to connect at
anytime either before, during and after networking events. Managers of Hyatt Hotel
are advantageous as they are able to provide advertisements always which attract
customers and allow them to discuss their problems regarding its features and
facilities. It leads to increase sale and increase strength to control weakness and
external opportunities for overcoming threats to sustain in global market by
competing with rivalries.
The major risk faced by an organisation from social media:-
Data Privacy:- The major problem which is mostly faced by the manufacturers are
that their confidential data is hacked by various hackers available in social media. It
adversely impact on the brand image and reputation of company which leads to
decrease in sale and further create difficulty in competing with rivalries. Managers of
Hyatt Hotel are unfavourably affected by these unwanted hackers which decline their
profitability ratios in market and emphasize them to undergo with bad image among
their potential customers (Vasquez, 2014).
Lack in motivation of staff:- The managers of an organisation are harmfully affected
by the lack in motivation of their employees as they are not encouraged to perform
their task with eagerness. This problem is mostly faced by every business that might
delay in accomplishment of success and not able to remain stable in global market.
Managers of Hyatt Hotel are negatively impacted as they do not build employee
relation which lacks in engagement and involvement. It also lacks in providing them
health and safety and not provide compensation with bonus, incentives, promotion,
etc.
Solutions for risks of social media:-
Proper sharing of information:- It is the duty of managers to be careful while
sharing their information on social media as to keep secret their confidential data for
being hacked. Managers of Hyatt Hotel are highly conscious about what is being
shared on online websites and monitor the unnecessary actions of fraud by raising
complaints in cybercrime departments. It is mandatory for every organisation that is
providing their data on social media must be accountable for sharing their information
to be trustworthy and does not misrepresent data which creates harm to their
customers. The managers must be aware of various legal legislations being
implemented by government in order to control crimes. This is the solution of the
problem raised for data privacy which is mostly faced by every organisation and
restrict the consequences for customer relationship management.
Staff motivation:- The organisation are most effective in encouraging their workers
to perform their task effectively with high skills which create opportunity for business
to achieve success. Managers of Hyatt Hotel are advantageous as they build employee
relations which favourably affect the business to sustain in perfect competition market
by allowing workforce for achieving their individual and organisation goals. It is
essential for every business as to provide compensation with bonus, incentives,
anytime either before, during and after networking events. Managers of Hyatt Hotel
are advantageous as they are able to provide advertisements always which attract
customers and allow them to discuss their problems regarding its features and
facilities. It leads to increase sale and increase strength to control weakness and
external opportunities for overcoming threats to sustain in global market by
competing with rivalries.
The major risk faced by an organisation from social media:-
Data Privacy:- The major problem which is mostly faced by the manufacturers are
that their confidential data is hacked by various hackers available in social media. It
adversely impact on the brand image and reputation of company which leads to
decrease in sale and further create difficulty in competing with rivalries. Managers of
Hyatt Hotel are unfavourably affected by these unwanted hackers which decline their
profitability ratios in market and emphasize them to undergo with bad image among
their potential customers (Vasquez, 2014).
Lack in motivation of staff:- The managers of an organisation are harmfully affected
by the lack in motivation of their employees as they are not encouraged to perform
their task with eagerness. This problem is mostly faced by every business that might
delay in accomplishment of success and not able to remain stable in global market.
Managers of Hyatt Hotel are negatively impacted as they do not build employee
relation which lacks in engagement and involvement. It also lacks in providing them
health and safety and not provide compensation with bonus, incentives, promotion,
etc.
Solutions for risks of social media:-
Proper sharing of information:- It is the duty of managers to be careful while
sharing their information on social media as to keep secret their confidential data for
being hacked. Managers of Hyatt Hotel are highly conscious about what is being
shared on online websites and monitor the unnecessary actions of fraud by raising
complaints in cybercrime departments. It is mandatory for every organisation that is
providing their data on social media must be accountable for sharing their information
to be trustworthy and does not misrepresent data which creates harm to their
customers. The managers must be aware of various legal legislations being
implemented by government in order to control crimes. This is the solution of the
problem raised for data privacy which is mostly faced by every organisation and
restrict the consequences for customer relationship management.
Staff motivation:- The organisation are most effective in encouraging their workers
to perform their task effectively with high skills which create opportunity for business
to achieve success. Managers of Hyatt Hotel are advantageous as they build employee
relations which favourably affect the business to sustain in perfect competition market
by allowing workforce for achieving their individual and organisation goals. It is
essential for every business as to provide compensation with bonus, incentives,
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degrees, performance appraisal, promotion, etc., in order to motivate workers to
complete their task efficiently which leads to accomplish success. This is the solution
of problem being raised for lack in motivation of staff members which leads to engage
and involve among one other through co-ordination.
CONCLUSION
From the above discussion it have been concluded that hospitality industry is a large
component of service sector which is defined as to take care of guests by anticipating their
needs for providing comfort. It has various segments that are food and beverage, front office
department, recreation, travel and tourism, lodging, etc. This project applies various types of
appropriate leadership style within hospitality industry including situational, system and
contingency approach. It further assesses organisational accountability with responsible
leaders on the basis of employees and customers consideration to facilitate competitive
advantage for being stable in perfect competition market. Additionally, this project evaluates
corporate social responsibility that is advantageous for organisation as well as wider
community. It also justifies the benefits of social media with related risk that adversely
affects organisation such as data privacy and lack in motivation of staff. It provides solutions
for those problems through proper sharing of information and staff motivation to achieve
goals and objectives.
complete their task efficiently which leads to accomplish success. This is the solution
of problem being raised for lack in motivation of staff members which leads to engage
and involve among one other through co-ordination.
CONCLUSION
From the above discussion it have been concluded that hospitality industry is a large
component of service sector which is defined as to take care of guests by anticipating their
needs for providing comfort. It has various segments that are food and beverage, front office
department, recreation, travel and tourism, lodging, etc. This project applies various types of
appropriate leadership style within hospitality industry including situational, system and
contingency approach. It further assesses organisational accountability with responsible
leaders on the basis of employees and customers consideration to facilitate competitive
advantage for being stable in perfect competition market. Additionally, this project evaluates
corporate social responsibility that is advantageous for organisation as well as wider
community. It also justifies the benefits of social media with related risk that adversely
affects organisation such as data privacy and lack in motivation of staff. It provides solutions
for those problems through proper sharing of information and staff motivation to achieve
goals and objectives.
REFERENCES
Books and journal
Anton, V. and GAREEV, R. R., 2019. Hospitality Industry in Russia: Key Problems and
Solutions. Journal of Environmental Management and Tourism. 10(4). pp. 88-800.
Borovskaia, I. and Dedova, M., 2014. Creativity in hospitality industry: Study of hostels in
St. Petersburg. Petersburg (December 17, 2013). Coactivity: Philosophy,
Communication. 22(2). pp.137-144.
Filimonau, V. and Mika, M., 2019. Return labour migration: an exploratory study of Polish
migrant workers from the UK hospitality industry. Current Issues in Tourism. 22(3).
pp. 357-378.
Goh, E. and Jie, F., 2019. To waste or not to waste: Exploring motivational factors of
Generation Z hospitality employees towards food wastage in the hospitality
industry. International Journal of Hospitality Management. 80. pp. 126-135.
Kang, K. H., Lee, S. and Yoo, C., 2016. The effect of national culture on corporate social
responsibility in the hospitality industry. International Journal of Contemporary
Hospitality Management.
McHugh, S. and Yarmey, K., 2014. Near field communication: Recent developments and
library implications. Synthesis Lectures on Emerging Trends in Librarianship. 1(1).
pp.1-93.
Mohanty, A. R., 2019. Evaluation of challenges faced by Irish SMEs in the hospitality
industry while adopting cloud computing (Doctoral dissertation, Dublin Business
School).
Montúfar Fandiño, E. A., 2014. Sustainable hospitality in the Sierra Nevada de Santa Marta:
how to develop a sustainable hospitality industry in the Sierra Nevada de Santa
Marta, Colombia taking the case of Turtle Bay Resort in Hawai'i as a model.
(Master's thesis, Universidad EAFIT).
Mooney, S., 2016. Wasted youth in the hospitality industry: Older workers’ perceptions and
misperceptions about younger workers. Hospitality & Society. 6(1). pp. 9-30.
Rauf, F. A., 2014. Environmental strategic factor analysis of the tourism industry in the south
coastal part of Sri Lanka. Journal of Emerging Trends in Economics and
Management Sciences. 5(5). pp. 426-434.
Ryan, C., 2015. Trends in hospitality management research: a personal
reflection. International Journal of Contemporary Hospitality Management.
Schuckert, M., Liu, X. and Law, R., 2015. Hospitality and tourism online reviews: Recent
trends and future directions. Journal of Travel & Tourism Marketing. 32(5). pp. 608-
621.
Sheresheva, M. and Kopiski, J., 2016. The main trends, challenges and success factors in the
Russian hospitality and tourism market. Worldwide hospitality and tourism themes.
Books and journal
Anton, V. and GAREEV, R. R., 2019. Hospitality Industry in Russia: Key Problems and
Solutions. Journal of Environmental Management and Tourism. 10(4). pp. 88-800.
Borovskaia, I. and Dedova, M., 2014. Creativity in hospitality industry: Study of hostels in
St. Petersburg. Petersburg (December 17, 2013). Coactivity: Philosophy,
Communication. 22(2). pp.137-144.
Filimonau, V. and Mika, M., 2019. Return labour migration: an exploratory study of Polish
migrant workers from the UK hospitality industry. Current Issues in Tourism. 22(3).
pp. 357-378.
Goh, E. and Jie, F., 2019. To waste or not to waste: Exploring motivational factors of
Generation Z hospitality employees towards food wastage in the hospitality
industry. International Journal of Hospitality Management. 80. pp. 126-135.
Kang, K. H., Lee, S. and Yoo, C., 2016. The effect of national culture on corporate social
responsibility in the hospitality industry. International Journal of Contemporary
Hospitality Management.
McHugh, S. and Yarmey, K., 2014. Near field communication: Recent developments and
library implications. Synthesis Lectures on Emerging Trends in Librarianship. 1(1).
pp.1-93.
Mohanty, A. R., 2019. Evaluation of challenges faced by Irish SMEs in the hospitality
industry while adopting cloud computing (Doctoral dissertation, Dublin Business
School).
Montúfar Fandiño, E. A., 2014. Sustainable hospitality in the Sierra Nevada de Santa Marta:
how to develop a sustainable hospitality industry in the Sierra Nevada de Santa
Marta, Colombia taking the case of Turtle Bay Resort in Hawai'i as a model.
(Master's thesis, Universidad EAFIT).
Mooney, S., 2016. Wasted youth in the hospitality industry: Older workers’ perceptions and
misperceptions about younger workers. Hospitality & Society. 6(1). pp. 9-30.
Rauf, F. A., 2014. Environmental strategic factor analysis of the tourism industry in the south
coastal part of Sri Lanka. Journal of Emerging Trends in Economics and
Management Sciences. 5(5). pp. 426-434.
Ryan, C., 2015. Trends in hospitality management research: a personal
reflection. International Journal of Contemporary Hospitality Management.
Schuckert, M., Liu, X. and Law, R., 2015. Hospitality and tourism online reviews: Recent
trends and future directions. Journal of Travel & Tourism Marketing. 32(5). pp. 608-
621.
Sheresheva, M. and Kopiski, J., 2016. The main trends, challenges and success factors in the
Russian hospitality and tourism market. Worldwide hospitality and tourism themes.
Sung, E. and Ozuem, W., 2015. Customer-perceived value of medical tourism. In Current
Issues and Emerging Trends in Medical Tourism. (pp. 58-78). IGI Global.
THOMAS, J., 2020. Challenges Faced By Marketing Team in Tourism and Hospitality
Industry. Studies in Indian Place Names. 40(50). pp. 1805-1817.
Vasquez, D., 2014. Employee retention for economic stabilization: A qualitative
phenomenological study in the hospitality sector. International Journal of
Management, Economics and Social Sciences. 3(1). pp. 1-17.
Issues and Emerging Trends in Medical Tourism. (pp. 58-78). IGI Global.
THOMAS, J., 2020. Challenges Faced By Marketing Team in Tourism and Hospitality
Industry. Studies in Indian Place Names. 40(50). pp. 1805-1817.
Vasquez, D., 2014. Employee retention for economic stabilization: A qualitative
phenomenological study in the hospitality sector. International Journal of
Management, Economics and Social Sciences. 3(1). pp. 1-17.
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