This report discusses the emerging trends in the hospitality industry and how it is adapting to new market demands. It analyzes the leadership style, organizational responsibility, and corporate social responsibility in the industry. The report also highlights the benefits of CSR for the organization and the wider community.
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Emerging Trends In the Hospitality Industry
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EXECUTIVE SUMMARY Hospitality industry is changing drastically and rapidly and new changes are coming into the market. In this competitive era, it is becoming difficult for fir to survive in market.In this present report, discussion has made about the hospitality industry is adopting and developing with new market and trends. Many enterprises are using new methods and leadership styles to increase their recognition in the market. Through this, leadership styles of both managers and leaders are also changing at rapid level.Corporate social responsibility is considered as priority of every business so they get more evolve with society and fulfil their roles in positive manner. Thus, new technology and ideas and changing the structure and view of hospitality industry.
Table of Contents EXECUTIVE SUMMARY..................................................................................................................2 INTRODUCTION................................................................................................................................4 1. Analyse and examine the leadership style in relevance to the chosen organisation and justify..4 2. Analyse how organisational responsibility & responsible leadership to corporate leadership systems to facilitate competitive advantage.....................................................................................6 3. Explain how corporate social responsibility is beneficial for the organisation & wider community.......................................................................................................................................7 4. Benefits of Social Media and related risks in relevance with organization.................................9 CONCLUSION..................................................................................................................................13 REFERENCES...................................................................................................................................14 Books & Journal:...........................................................................................................................14
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INTRODUCTION The hospitality industry is changing at a rapid level due to the rise in competition in the market. The business sector is booming, and new businesses are taking place. This increases competition and rivalries in the market. It is also known as the service industry, which includes several services like event planning, tourism industry, cruise sector etc. All come under the same category. Due to changing demand and needs of customers, new strategies and tactics are adopted by the hospitality industry and trends changes from time to time. Sultan restaurant headquartered in the UK. The hotel provides Turkish dishes and service to the people and which makes them unique from other hotels. Trends of the hospitality industry have taken a big change and which also changes customer requirements and service industry is evolving accordingly. It is necessary to follow and emerging trends in the hospitality industry like grab and go & self-service, using natural substances and providing healthy food. These are some of the major trends which are emerging in the hospitality and service industry. This report includes leadership style with justification, analysis on how organisational responsibility & responsible leadership leads to corporate leadership system to facilitate competitive advantage, benefits of corporate social responsibility and benefits of social media & risk associated with it. 1. Analyse and examine the leadership style in relevance to the chosen organisation and justify. Hospitality and service industry are adopting and using new ways of delivering service to customers. They perform ample numbers of functions and operations which are handled as well as managed by managers of the firm. Main operations, such as maintaining the relationship between guests and the host. Organising, controlling and managing is not easy, so managers help the firm to operate in a proper manner. Thus, managers and leaders are being hired to handle staff as well as employees in the organisation(Dzhandzhugazova, 2016).Leaders are those who have followers and willingly work for each other whereas manager is one who gets the work done from others. Also leaders are those who focus on success and managers find errors and faults in the process.In relation with Sultan restaurant,owner and CEO of entityuse appropriate leadership style so that team is managed and goals, as well as objectives, are achieved in the proper manner & within a period of time. It is important for the business to adopt leadership styles because they help leaders to achieve the assigned task with the help of the team in an appropriate manner. Every manager, as well as leaders in the firm, use different leadership styles according to their behaviour and role. (Jones, 2016). Therearevarioustypesofleadershipstyle,suchassupportive,directive,participative,
achievement-orientedand autocratic leadership style(Van Vugt, 2016).Each and every manager of the firm is heterogeneous in nature and uses the style which is suitable for them and the team. Applying proper leadership makes employees motivated and increases their morale which results in higher productivity and profitability of the business. Sultan restaurant is a leading restaurant in UK wand due to its enhanced business opportunities; it has become essential for managers as well as leaders to adopt the leadership style. So, to achieve the desired goals and objectives,participative leadershipis successfully applied. Participative leadership style- It is a type of style in which organisation employees are included when decision making in an entity is done. Through this, personnel get attached to firm problem and give ideas to solve issues which are affecting the business. By using a participative leadership style, it becomes easy to deal with challenges and problems in an effective manner. Sultan restaurant uses this because this helps both enterprise and staff members to understand each other properly. It leads to increased productivity, enhanced employee morale, coordination and cooperation are developed at a rapid level But when using this leadership, it is to be careful because the decision-making process is long and time-consuming. For example- The chosen organisation can use this leadership style to decide emerging trends which are discussed below: Autocratic leadership style-It refers to type of leadership style in which individual person in team take decisions and make choices depending upon their ideas and thoughts. This results in total control and ruling over the group. Such type leaders do not take advice from others and only listen to themselves. In this, a leader has to take all decisions and tells other what to do and not to do. Also, leaders use this as mostly in negative and sometimes become aggressive in nature to get the work done properly. In relevance with chosen firm, CEO of firm does not prefer this type of leadership style. Supportive leadership style-This is type of style in which leaders help and support team members in both professional as well as emotional way. In this, leader support team member whenever they face any challenges or problems. Through this, a relationship is developed between both the parties. Moreover, they work more effectively and properly and deliver positive results within a period of time. In relation with chosen entity, owner of firm use this leadership style in most effective manner so that everything run in smooth and properly. Achievement oriented- Further comes the achievement oriented in which difficult tasks and challenges are given to members of team and so that they are able to face them in effective way. Also, in this members become independent and become motivated towards goals as well as objectives. Thus, sultan restaurant use this style whenever there is need or requirement to develop employee or staff skills or abilities.
Directive leadership- This style in which only direction is given to members and process is then carried out by team.In this, main role of leader is to only guide and make understand members how to work and what is there to achieve. In directive leadership, only professional relationship is maintained in team, there is no place for mutualism or personal relationship. After a brief analysis of the above matter, it is stated that participative leadership is beneficial for both firm and employees if applied specifically. This leadership style has been used and selected because it increases team coordination and cooperation & also develop a relationship between both the parties. So, to achieve the higher productivity and profitability manager of enterprise use this style. Thus, this also helps entities to take decisions in a proper manner so that conflicts in management & errors do not arise. This also results in using resources and money effectively so that they are used in future growth and overall development(Carroll, 2020).Also, the above stated leadership styles are the ways through which all goals and objectives are achieved at wider scale. 2. Analyse how organisational responsibility & responsible leadership to corporate leadership systems to facilitate competitive advantage Organisational responsibility and responsible leadership play a vital role in establishing corporate leadership system. When it comes to CSR, organisational responsibility increases towards both employees as well as society. Each and every firm have responsibilities and which are to be fulfilled in a proper manner(Grayson,2017). Responsible leadership is one in which sustainable decision making is done related to suppliers, community, society, employees etc.Without analysing and identifying responsibility, it is not possible for the organisation to achieve goals & objectives within a period of time and without any hurdles or obstacles. In relevance to Sultan restaurant, their main responsibility is to handle and maintain a relationship with their customers by giving a high quality of services to them.The selected entity focus on their responsible leadership in which they take decisions after considering all the factors carefully and by conducting deep market research. Whereas, responsible leadership refers to the interaction of management with society and people to analyse what changes are needed to be implemented. A leader is to be motivated and active towards such events which are required and beneficial for the improvement of environment and society. Manager of Sultan restaurant is well aware of locality and trends emerging in the market. Both responsible leadership & organisational responsibility are crucial for success, growth and overall development of business. To handle and these two concepts, a high level of skills & knowledge is required. Because these are time-consuming process and problems, challenges, issues are bound to be occurring. Combining those leads to corporate leadership system. In this, the superior authority
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has the power to take the decision in the business. It is important to implement corporate leadership so that firm is able to achieve its targets and desired goals in an effective manner. By using this corporate leadership system, it is taken as a competitive advantage by the firm because in these skills and knowledge adopted by leaders are developed and improved at a larger scale. These are then applied in the management for achieving the mission & vision(Adler, 2020). Organisational responsibility varies from leadership responsibility because both operate and function differently. So, it is necessary for Sultan restaurant to get the proper analysis about firm responsibility so that corrective measures are taken & decision making is done accordingly. This makes them aware of their roles & duties, so that leader in the firm is able to use leadership style properly. It is also essential for the leader to analyse their style, which is most suitable to the entity and for the team. This makes the leader and manager responsible for the employees. Competitive advantageis: ď‚·With the use of corporate leadership system, leaders are able to gain new skills and ideas which they use in the business and applied to their team for achieving the assigned task to the team. ď‚·Another advantage ofcorporate leadership systemis that new ideas and methodology are used for better results in business(Miska, 2018).CLS is defined executive structure who are responsible for creating direction at wider level in the company. ď‚·Further, strategies and tactics are implemented by a superior authority which results in effective decision making in the process and management. ď‚·Then, by implementing this system expertise and new employees explore new opportunities and ideas which motivate them to put more effort towards the mission. ď‚·By using this CLS, Sultan restaurant also gains the competitive advantage of increasing management activities in the business.As their employees and supervisors understand each other and perform their roles in proper manner. After a brief analysis of the above matter, it is analysed that it is important to examine and evaluate the organisational responsibility so that everyone is aware of their duties which are to be done in an appropriate manner. Further, a responsible leader is always ready to take risks and change that risk into an advantage. Hence, with proper use of market research leader become responsible and deliver the positive output to the organisation. So, organisation responsibility, responsible leaders and corporate leadership system boost the growth of business at a rapid level. Decision making is to be done with proper measures so that problems do not arise in the near future.
3. Explain how corporate social responsibility is beneficial for the organisation & wider community In an organisation, most of the businesses run with the motive of earning a profit, but it is also important to improve society and environment which are essential for every enterprise. Yes, profit earning and making revenues are necessary but adopting corporate social responsibility is also necessary.The reason is because it creates company’s brand and image in the market which is beneficial for any entity. Corporate Social Responsibility- Corporate social responsibility, also known as CSR, is defined as organisational measures or say goal to contribute to the environment and society for their improvement and growth. This is the most effective way of increasing goodwill of the firm. This also increases the productivity and morale of the employee within the firm. This means that focusing on CSR leads to brand image development in the market. Through this, personnel in the firm also get motivated towards social responsibility, and this results in growth as well as the overall development of society at a broader level. In relation to Sultan restaurant, they can grow the plants around the city to make the environment more greenery and safe. This will help them in awareness & attention of their business in the eye of customers. Adopting this motivate the community to take steps in CSR to make the surroundings better. Making and contributing to society attract more employees as well as customers(Witt, 2016). Benefits to organisation Organisational Growth- Every entrepreneur wants to achieve organisational growth for which strategies and different tactics are implemented. In the market, it is necessary to focus on growth as well as firm development so that business activities grow at a faster rate. So Sultan restaurant uses this CSR in an effective manner and which helps them in the growth of the business. Fund Raising- In business, the requirement of capital and assets is at every phase. There are many financial institutions, bank; money lenders are available in the market that provides funds to the business. But due to the rise in competition, it is not easy to get the money from such sources so, entities that provide changes in society comes become noticeable and which helps in getting fundraise from such sources. So, Sultan restaurant is able to raise funds from banks for their business activities, functions & operations(Grayson, 2017). Efficient and retaining staff- When organisation provide a contribution in society, it not only attracts customers but also attract talent, employer and retain staff. This minimises its recruiting and training cost. With the help of CSR, Sultan restaurant is able to retain staff for a longer period of time. This results in stability of efficient talent and personnel for a longer period. Thus, it eases the process of the organisation so that focus is done on core activities.
Brand recognition- When attention is paid to social responsibility by the firm, it indirectly do the promoting and advertising of the brand. So, with the help of CSR, Sultan restaurant makes them recognised in the market and through which they are able to target customer & market in an appropriate manner. It is important for a firm to get the brand recognised in the market so that acquiring resources as well as customers become easy and faster. After a brief analysis of the above matter, it is analysed that corporate social responsibility is important for every firm to grow and develop their business at a wider level. With the help of CSR, it becomes easy to access the market as well as resources effectively & appropriately. It is the responsibility of the manger to analyse weather organisation need corporate social responsibility or not. This helps in moving towards the improvement of society so that more resources are available to the entity. Moreover, it also encourages the community to show a positive attitude in society and people. 4. Benefits of Social Media and related risks in relevance with organization It has been determined that there is a significant rise in the uses of social media platforms around the world. It creates significant opportunities for organisations to attract consumers purchasing behaviour towards their product and services.Social media is defined as technology through which ideas and information is shared via desktop, smart devices etc.Social media provide different type of benefits through which an entity can increase their overall profitability and productivity in the best effective manner. Sultan restaurant offers an ultimate dining experience to its consumers with a cosmopolitan atmosphere in London. With having an exotic range of food and beverages, this restaurant satisfies consumer needs and demands in an effective manner(Sanjeev, 2019).Mentioned below that are some certain benefits of social media through which Sultan restaurant can increase their consumer base and profitability: Improves Trust and Loyalty:One of the most important benefits which are associated with social media that allow an entity to make a significant improvement in trust and loyalty with their consumers. By taking advantage of the social media platform, Sultan restaurant can understand the actual need of its consumers and can serve them with quality food and services. Social media is a great way to establish transparency. In this, by allowing guest to share their reviews and post pictures about that experience at restaurants, the respective business entity can increase their competency in the marketplace(Fordham, 2018). Affordability:Social media is an inexpensive way to advertise services and products. It has beendeterminedthatoldfashionadvertisingmethodsdidnotattractmuchattentionfrom customers. Thus in order to ensure long-term sustainability in the food and beverage industry Sultan restaurant is required to effectively attract the attention of their new and existing consumers. In
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respective entity by posting pictures and creating awareness among consumers towards new dishes can allow the restaurant to attract significant attention of consumers. In this entity, by making use of weekly special post, photos, consumer pictures at restaurant, graphics videos, and more can ensure high profitability. It has been identified that Sultan restaurant can also feature their Chef via Face book live video and can capture consumer attention by making them connected. It effectively helps them to draw audience attention in an affordable manner. It has been identified that social media play a significant role to increase profitability by undertaking a smart way to advertise. Staying Connected with Guests:Nowadays, it is essential for an organisation to stay connected regularly with their guest. In this social media provide a great platform through which the entity can ensure communication with consumers in a well effective manner. With the help of different social media platform, Sultan restaurant can keep in touch with their consumers and can make a personal connection with them. This has been evaluated that the majority of the population spend most of their time on social media on an everyday basis. Thus, by taking advantage of this platform and taken significantly increased their profitability(Breda, 2019). Provides Guests with Restaurant Updates:Social media proves to be one of the fastest ways through which restaurant can keep regular updates related to new menu items, events, special packages, holiday hours etc. to their guest. Sultan restaurant by making use of different social media platforms like Facebook, Twitter and Instagram can provide their existing and new guest with restaurant update and can increase their attention in a significant manner. Related Risk Social media is a free platform that gives consumers a voice and allows them to share reviews; sometimes, negative consumer reviews can significantly cause damage to the restaurant. Social media is a great platform to provide an excellent experience to consumers, but sometimes it can cause a huge problem, as when consumers are unhappy, then they make use of social media to share their grievances. In addition to this, it has been identified that most of the consumers complain about services and products of the restaurant directly on social media without getting in touch with the organisation at first. Negative post on social media profile of the company can lead to towards creating distaste among other consumers. Along with this has been identified that because of this, there is a possibility that followers on the restaurant page can go down. Thus it has been identified that negative reviews can create dissatisfaction among other consumers at a great extent. Along with this, it has been identified that there are trolls who get paid to ruin successful business image among consumers that create a powerful make to decrease entity goodwill in the marketplace(Deepeka, 2019).
Picture showing increase of risk related to internet and social Medias platforms Thus according to the discussion, it has been identified that social media turns out to be a great platform through which an entity can significantly attract the attention of the large face of customers. But somehow there is some certain risk that is related to social media that can affect the image of the entity. In this Sultan, the restaurant is required to undertake some effective measures in order to overcome these issues in a time-effective manner. In this, it is essential for restaurants to ensure their presence on all the social media platforms of entity 24/ 7 and ask for consumer feedback on a daily basis. In addition with this by launching initiatives to engage customers in online sample survey is also one of the effective measures through which respective restaurant can analyse their issues and problems and can further implement effective strategies to overcome them in a best effective manner. Along with this, it is essential for Sultan restaurant to implement well design strategies and develop a formative relationship with its customers. This will allow them to identify their actual need while ensuring their loyalty towards the restaurant. It has been identified that by taking advantage of paid advertisements, the company can boost its visibility among the audience and can further attract attention in a significant manner(Kulshreshtha, 2019). Thus, it has evaluated that social media is one of the most important and essential platforms through which the entity can increase the attention of consumers towards restaurant services in a well-defined manner. In order to remain in competition in food and beverage industry, it is essential for Sultan restaurant to take advantage of this platform while undertaking risk factors that are associated with it, as it can negatively affect organisation image in the marketplace in this company
is required to implement effective strategies to build long term relationship with consumers. (Prathyusha, 2019). Recommendations to Sultan Restaurant It is recommended that they should use secured tools or platforms so that they run their business in secured way. Further, it is also recommended that Sultan restaurant should adopts expertise IT people in their firm so that they could provide better measures.
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CONCLUSION After a brief analysis of the above report, it is concluded that the hospitality industry plays a vital role in providing services. In business, it is important to be flexible and adjust according to time because this helps in dealing with situations and events in a proper manner. Trends in the market are not fixed, and they changed periodically depending upon the customer needs as well as demands. It is essential for the service industry to be aware of emerging trends so that they take decisions accordingly. In the organisation, it also necessary for managers and leaders to select and choose the appropriate leadership style, which is to be used throughout the process. Such as participative style has been used by the chosen firm, so that decision making is done in an appropriate manner. Also, corporate social responsibility is needed to be focused on business for wider opportunities. Further, social media are used in business to promote & access the global market, but the risk associated with these digital platforms affects the functions and operations of the business at a deeper level. Hence, emerging trends are to be adopted with carefully and effective measures.
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view.Tourism in south-east Europe...,5, pp.139-162. Muda, 2019. Islamic Tourism: Emerging Trends, Challenges, and Opportunities in Tourism Industry of Malaysia. InContemporary Management and Science Issues in the Halal Industry(pp. 303-317). Springer, Singapore. Van Vugt, 2016. Autocratic leadership in social dilemmas: A threat to group stability.Journal of experimental social psychology,40(1), pp.1-13. Vij, 2019. The emerging importance of risk management and enterprise risk management strategies in the Indian hospitality industry.Worldwide Hospitality and Tourism Themes. Godfrey, P.C. and Hatch, N.W., 2007. Researching corporate social responsibility: An agenda for the 21st century.Journal of business ethics,70(1), pp.87-98.