Hospitality and Tourism Industry Assignment
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Added on 2020-04-07
Hospitality and Tourism Industry Assignment
Added on 2020-04-07
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1HOSPITALITY AND TOURISMNAMEINSTITUTIONDATE
2The operational context (200 words)The labor shortage is the most practical issue in the hospitality and tourism industry. Mostly thelabor force expansion is not limited by the capital only but also by the human resources. Thereare a problem and a significant challenge of attracting and also retaining the qualified workers inthe whole world (Chon, 2015, p. 361). This is due to the failure address the workers tosatisfaction, demography, the low wage levels, reputation for too long hours and little pays as thecontribution factors cite them.There is the high and increased level of competition in the hospitality and tourism managementbecause there are too many available hospitality rooms as compared to some tourists who wantto rent them hence race. This results in the cutting of prices to attract more tourists; this alsoreduces the profits earned (Xiang et al., 2017, p. 60). This tight competition within the hospitalityand tourism operators in the shrinking market has brought down the rent of hospitality roomsacross the whole world hence a lot of losses. This has led to increased innovation and creativityin the hospitality and tourism operations while making decisions.The human resource context (200 words)Staff recruitment and selection is an essential thing in hospitality and tourism management. Thisenables the industry to have high profits due to proper control of the industry. Even though thisstaff recruitment is necessary, it requires considerable funds to allow it to go through. Due to thechallenge if funds most industries do no select the appropriate staff and hence little or no visitors.(Sparks, Bradley, and Callan, 2011, p. 490) Also, the staff should undergo interview where mostfaculties do not pass the process. Therefore, there is no proper selection of qualified individualswhile escaping the expenses associated with that. This makes the industry to lag behind.Training and development of the industry is another issue in human resource context. Theselected individuals should undergo exercise before and after starting the work. This will ensurethat those individuals are sure of what they are doing for the benefit of the group. Also when thestaff undergoes the training, they may lead to the development of the industry hence gratebenefits and high profits to the industry (Millar, Mao, and Morea, 2010, p. 8). Preparation of theindividuals joining the company may be costly to that society consequently they will consider
3leaving it out which may lead to massive losses of the company due to lack of requiredknowledge to enhance the functions of the company.The financial context (200 words)Escalating renovation and construction cost have increased in hospitality and tourismmanagement. The existing buildings are increasingly demanding upgrades and improvements tofit for current physical condition and also to adhere to current standards to remain competitive.Even construction of the new building with improved market conditions (Croce and Perris, 2017,p. 10). Very high costs of construction are the mitigating factors to the further development ofthe industry. This is very expensive due to rising costs of interest, high costs of energy and alsothe rapid escalation in the price of the materials used in the building. This makes the industry toface a lot of difficulties in improving the structure into current standards due to increased costs. There are many evolving customer expectations in tourism and hospitality management whichrequire high capital accumulation. This is to be able to satisfy the customer needs and enablethem to come back another time (Kumar and Yang, 2017, p. 110). Currently, the customers areprofoundly influenced by the technology like use of internet which is a very crucial thing to getmany customers. Many customers are resisting the ‘chain mentality' hence an excellentopportunity for creating customized and unique experiences as well as minding the "bottomline." As a result, the appropriate market approaches will be needed to adopt and also update toreach the customers efficiently.The product and market context (200 words)There is increased guest sophistication. The consumers are sophisticated that is there isdeveloped to a high degree of complexity and a great deal of experience and knowledge of theculture. The types of products and services which they desire from the market may not entirelybe satisfied (Cho et al., 2017, p. 420). The social amenities they want may include recreationalfacilities, guest-room innovations, advanced business centers and increased costs. This maymake the guests of other areas if they are not appropriately served hence leading to falling ofbusiness.
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