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(PDF) Learning About Managing the Business in the Hospitality Industry

   

Added on  2021-02-20

1 Pages756 Words30 Views
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As there are wide variety of business withinthe hospitality sector, such as food andbeverage sector in which companies likeMcDonald, Burger king has startedlicensing and franchising of its business allover the globe, this benefits the customer toenjoy their service. This led to the globaldevelopment of hospitality industry and itleads the business to attain maximumprofitability and productivity. Franchising and licensingAll the departments within the chosen hospitalitybusiness works in coordination with all otherdepartments such as HR department works ininterrelationship with the food and beveragedepartment as manager at F&B department isprovides information about the requirement of thetrained chef within Travelodge so that HR departmentcan start recruitment and selection processaccordingly and moreover purchase departmentworks in a coordinated manner with the financedepartment so as provide information about thepurchase of certain necessities and acquire funds forthe same purpose. This leads to the smooth flow ofbusiness activities within Travelodge. InterrelationshipsHospitality industry is the fastest growing industry,which provides various services to the customer andindirectly contributes towards the local, national andinternational economy. Local Economy- As hospitality sector consistof various business, which provides varieties ofservices to the tourist and attracts the tourist towards it.Therefore tourist incur expenditure on various servicesand help in the growth of local economy by such asbuilding of roads and other infrastructure facilities andalso leads improvement in the transportation serviceswhich helps in the growth of local economy. National Level- With the fast growth of thehospitality industry, it is providing enhanced servicesto the customer. This created employmentopportunities for the individuals and improved theirstandard of living. This is the major contribution of thehospitality business towards the growth of nationaleconomy. International Economy- Hospitality sectorconsist of various hotels, restaurant and other traveland transportation services, which provides services allacross the globe. It has made tourist to easily avail theservice all across the glove and therefore leads to theintegration of the nation’s economy. Contribution of Local and National EconomyContemporary Hospitality Industry
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