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(PDF) Profit Maximization : Assignment

   

Added on  2021-02-20

1 Pages998 Words88 Views
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The main aim of any business andorganisation is to earn maximum profitsand gain in competitive market. This ispossible only if firm expand their businessat international level, which helps inenhancing profits, customer's ratio, andmarket share. For growing at global market,company should adopt different tools likepartnership, strategic alliance, licensing,franchising and others. With assist of bothlicensing and franchising, hospitality sectorcan easily expand business at global marketand level. This tool helps to provideauthority to party for using their logo andsale product in market with existing brandname. The benefits of franchising is tobrand value of previous company andenlarge business opportunities in othermarket too. Licensing helps in providinglegal security to operate in other countries.Franchising and licensingThe operational and functional department of everyorganisation helps to conduct activities and work ineffective and efficient manner. When this departmentperform their roles and responsibilities in bettermanner at company then they can achieve goal andsatisfying their consumers, guests in proper way. Asboth department work together for running activitiesof business in good manner. For example, ifSouthbank Centre has to organise an event in theirhotel then functional department provide help forarranging funds and operational department conducttheir activities to make event success. In this bothdepartment coordinate with each other so that bestoutcome can be achieved.Review the interrelationshipsHospitality industry is regarded as fast growing sectorthat create various opportunities for others so thatbusiness can be expand to global or international level.With help of hospitality industry visitors and guest caneasily travel to different places and stay safely athotels. The hospitality industry helps in contributing10% of GDP to world. With rise in need and demandof people, this sector is growing and developing theirexistence at local, national and international level. Dueto rise in people' requirement, different hospitalitycompanies such as Marriott, Radisson Blu and otherare operating business at international level. Accordingto analysis of data, it has estimated that more than 699million guest and visitors travel various place that leadbusiness and country to grow and increase theireconomy. With rise in number of travellers helps togenerate employment opportunities for local, nationaland international individuals, which is near about 12%in country. This also leads to more growing of fastfood such as Burger King, Pizza Hut, KFC,McDonald's and others. These all helps in employmentgeneration and rising economy of country in effectiveand efficient manner. This all helps in improvingliving standard of people in better manner to achievetheir goals and objectives.Contribution of Local and National EconomyContemporary Hospitality Industry
(PDF) Profit Maximization : Assignment_1

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