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Franchising and licensing Assignment PDF

   

Added on  2021-02-21

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Franchising and licensing help a firm in expanding their business at internationalmarket in order to increase profitability ratio as well as market shares. Throughthis companies which are operating in hospitality industry get opportunities toexpand their business functions at worldwide market. In this method companymainly give right to another companies to sales their products with their brandname. By this they also able to increase their brand popularity.Use of franchising and licensing agreementsIn an organization each and every organization plays an essential role which helpthem in attaining target in effective manner. The departments are mainly dividedinto two manners i.e. operation departments and functional department. Theseboth department work together in order to attain organisational goal andobjective. Such as for the planning for any activities which is going to conductedin respective hotel all departments come together in order to make activitiesproperly. Like finance department manager finance and budget of activities andhousekeeping as well as front office help in managing activities. Throughcollaboration of both department company able to conduct program in effectivemanner. Hospitality industry is consider as fast growing industry which attract morecustomers and investors. The respective industry contributes approx. 10 % at theworld GDP. This sector is growing its business and making its presence atworldwide level i.e. local, national and international. There are various sub sectorsof hospitality industry which offer diverse range of products and services,respective industry generates huge profit through restaurant and hotel ventures.Through the record it can be analysis that more that 700 million tourist or visitorsvisit various places which generate huge profit (Significance of Hospitality andTourism in a Country’s Economy, 2019). In United Kingdom approx. 10 %employment is generated by hospitality industry. This is possible through openingof various food chains restaurants such as Burger King, Pizza Hut, McDonald’s,KFC and many more as well as these help in enhancement in profitability ratio andmarket shares.Contribution of hospitality industryInterrelationships of operational and Functional unitContemporary Hospitality Industry
Franchising and licensing Assignment PDF_1

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