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Growth Options for the Business - PDF
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Added on 2020-10-22
Growth Options for the Business - PDF
Added on 2020-10-22
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Growth Options for theBusiness
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1Overview of various sector within hospitality industry..............................................................1LO 2.................................................................................................................................................5Opportunities for Internalisation ................................................................................................5Management issues in Hospitality industry................................................................................6Human resource management and operations.............................................................................8Corporate social responsibility and sustainability issues ...........................................................9Future Trends as well as development within hospitality market ..........................................11CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONIn the present highly competitive environment, expanding business is considered to be adifficult as well as complex procedure. Expanding business operations require specialisedplanning which is to be done by the manager in an organisation. Growth of business involveshigh risk which can have negative impact on the business performance. In addition to this,formulation as well as implementation of suitable strategy can assist the firm in achievingstability and help enterprise in earning long term profitability (Zalengera and et.al, 2014). Thereare different options available such as export, market development as well as penetration whichcan be utilised by companies for expanding the business internationally. Before expanding thebusiness, it is very important for manager in an enterprise to conduct internal assessment andanalyse business position in market. The purpose of present report is to identify opportunities forinternationalisation in hospitality sector. It emphasizes on developing the understanding aboutmanagement issues within hospitality sector in context of etc. venue (Aslan, 2017)LO1Overview of various sector within hospitality industrySuitable country for market developmentCompany has to expand its business in Turkey because it is considered as fastest growing nation.Many tourists come to Turkey every year and spend high amount here. Thus, if entity enterinto this country then it will be beneficial for the firm to raise its profitability. This would besuitable country for market development of the company.Pestle analysis of three countries (Zalengera and et.al, 2014)PESTLE analysis of UKPolitical factors: This factors have direct as well as significant influence on the businessoperations of company. Change in government norms have impact on industry. Brexit was asignificant political event and it had a noticeable impact on tourism and the hospitalityindustry (Aslan, 2017)Economic factor: This variable has direct as well as significant effect on the profitability sectorof hospitality industry. The situation of demand is healthy and the hotel brands would beable to benefit from the current situation (Khan, Alam and Alam, 2015)1
Social factor:social factors too that affect the global hospitality industry. Consumer preferenceis an important factor. If consumer sentiment is favorable both airlines and the hotel brandsstand to gain (Parra-Lopez, Sayadi and Duran-Zuzáo, 2015)Technological factor: Technology is shaping the travel experience at many other points tooincluding on the ground and in the air. This factor has supported hospitality sector inproviding additional facilities to customers (Zalengera and et.al, 2014)Legal factors: public safety and labour law are two important norms which have great influenceon human resources policies and practices in hospitality sector. The legal authority in UKhas focus on ensuring that enterprises can rely on a business-friendly environment and makethe most out of growth markets outside the EU (Aslan, 2017)Environmental factors: Sustainability is a key concern in tourism and hospitality sector inEurope. Even the hotel industry is impacted directly by changing weather conditions (Khan,Alam and Alam, 2015)PESTLE analysis of Spain2
PoliticalAlterations of various governmentregimes terrorism or worldwide, itwould directly impact hospitalityindustry of Spain.EconomicalHuge demand of tourism sectorGrowth of labour market along withconsumer spendingSocialPreference had been shifted not inagainst various privateaccommodations.TechnologicalFrom the perspective of airline till itsbookings along with marketing,technology is considered as hugeinfluencer.EnvironmentalSustainabilitySpecial focus on ecotourismManaging its ecological impact towardswaste managementLegalMajor important concern on bothlabour and public security.Staff training is very important.Politicalthere is no proper government in Spain since 20015Scheme agreements has given tourist a chance easier to money in other country.No visa facility helps in saving time and money.EconomicalSpain is fourth largest Euro zone economy.Financial position of the country will bestrengthen with the increase in number of tourismThe labour market is growing stronger withconsumer spending.SocialConsumer preferences are changing in favour of private accommodation.Consumer sentiments are favourable for both airlines and hotel brands to gain.TechnologicalFor attaining success companies which areoperating in hospitality sector need to makefocus on the adoption of social media3
marketing and other technological aspects. EnvironmentalHotel companies need to perform theiractivities in an eco-friendly manner. LegalIn Spain, hospitality firms need to followhealth and safety as well as protectiveequipment Act, taxation rules etc.Market screening Entity has to develop its business in High street location in UK. Hotel has to concentrate oncommercial areas where it can attract more visitors of travellers towards the hotel in Turkey.It has to concentrate on geographical areas for establishing the band successfully in Turkey Economic size and standard of living of people (Lundgren, 2017)Turkey has stable economic condition and people have adequate income sources. They livestandard life. They spend adequate amount to live better life. There are many growthopportunities for the hotels to grow well in this nation population have sufficient incomesources and they like to go to hotels and restaurants. It is the location where many visitorscome thus, enmity can grow well in this destination (Pałka, 2017)Environmental factor, , Import restriction, legal frame, political stabilityThere are many factors that can impact on overall business unit operational efficiency. Thereare political, social, legal, environmental factors etc. Political condition of Turkey is stableand there is no legal restriction for the company those which wants to enter in this market.Social and cultural factorsTurkey is the location where society likes to spend money on luxurious products andservices. They always prefer to go in hotels where they can get luxurious services. Night lifeof Turkey is very famous, hotels provides hard drink facility and entertainment facilities s tothe consumers that attract them towards the brand (Lundgren, 2017)Segment of the marketsHospitality industry takes support of geographical segmentation method because it helpsthem in offering services as per the geographical location so that consumers can getsatisfactory services (Pałka, 2017)Marketing system4
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