The Role of Research: Improving Hospitality Business Performance

This essay discusses the importance of research for organizations in the hospitality industry, focusing on the reasons why companies conduct research, and the pros and cons of doing so. It highlights that research builds knowledge, facilitates learning, assists in business planning, and enables the sharing of valuable information. The essay also explores how research fosters understanding of social issues, creates public awareness, and helps organizations grasp viable opportunities. While research offers advantages such as detecting problems, measuring brand reputation, and supporting decision-making, it also presents challenges, including potential inaccuracies, high costs, and limited population targeting. The essay concludes that research provides organizations with a comprehensive overview of target segments, consumer buying patterns, and competitor strategies, ultimately contributing to innovation and customer satisfaction.

Individual Essay

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Why do companies carry out research?.......................................................................................1
Pros and Cons of research............................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
The term research is creating new knowledge along with using current information in
creative manner to develop new methodology, understandings along with new concepts (Ivanov
and Webster, 2019). It comprises synthesising together with analysis of past investigation to
extent that it results in innovative solutions. It is considered as building block upon whose
shoulders rests growth as well as advancement of mankind. Individual, societies, business
entities and nations have huge interest in research because it results in indelible mark on them in
terms of progression. Moreover, research is a formalised curiosity which is seen as prying with
purpose. The essay discusses importance of research for organisations in hospitality industry. It
considers reasons for which companies carry out research. It also highlights pros and cons of
carrying out research in companies.
MAIN BODY
Why do companies carry out research?
Research is delineated to a systematic work that is undertaken for enhancing stock of
knowledge. It entails gathering, organising and analysing information for the purpose of
increasing knowledge or understanding about any issue. In an organisation, research is
significant for remaining competitive in industry (Russen, Dawson and Madera, 2021). Key
function of research in business is to supply with an outlet so to accurately determine customers.
Through this, business managers analyse preferences of target customers and examine
competitors with the hope of emulating major strategies that assist in smooth operations. In
context to hospitality organisation, research is carried out because it builds knowledge along
with facilitate learning about industry. For example, managers of Maybourne Hotel Group
carry out investigation in order to build knowledge about trends pertaining in the industry and
expected values or experiences of customers. It also facilitates learning as research is crucial for
looking towards possible solutions to issues and ways to mitigate them effectively and promptly.
Research is important for the company to ascertain whether present solutions or ideas are
supported by past investigation or whether these still require further proof to be considered
knowledge. For hospitality business, research is accredited as significant study as its process
entails returning to data, methods as well as questions on continuous basis till new ideas result in
new learning or revision and upgrading knowledge. It is a sequential procedure which comprises
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discussion of available information with advisors. Furthermore, researching situation gives new
shape to current information and ensures that investigator gets to know various kinds of
perspectives.
Research when carried out properly and successfully then it assists in business planning.
In context to hospitality company, research is carried out with the purpose of future planning
(Amatulli, De Angelis and Stoppani, 2019) For instance, Maybourne Hotel Group conduct
research to form effective policies to sustain long term. Research is significant to look towards
present strategies and their success in business. As per result, managers carry out necessary
modifications in organisational practices, programme and tactics so to perform within the
industry for longer durations. Research open doors for company to form new partnership along
with find new geographical location which proves to enhance sales figure and enhancing
customer base by planning policies for future.
Within hospitality industry, research is important to share valuable information. It has
been analysed that research assist in inquisitive minds for the purpose of building as well as
improving current knowledge through using verifiable facts (He, Zhang and Morrison, 2019).
Moreover, reading is key tool in research that foster sharing valuable information within specific
industry. In case with Maybourne Hotel Group, when marketers conduct research then they
become aware about facts along with truths which enlighten their minds addition to make them
aware about new information. In research process, fact checking is key as it assists in testing
reliability along with validity of claims in order to determine competencies. Within hospitality
industry, research makes things easier for sharing valuable information so that it can be used for
advancing work practices to gathering data.
Research also foster understanding social issues along with creating public awareness
in hospitality industry. It is seen that issues in society are becoming protuberant in day to day
manner. With the help of research, hospitality organisations are able to gather data that further
assist in identifying social issues and making suitable strategy to resolve it (Guzzo, Abbott and
Madera, 2020). For Maybourne Hotel Group, research is significant as it shed light towards
issues which other companies are not aware of as well as put forth questions which require to be
asked once. Travel restrictions, distribution revolution, changing demographics and many more
are some issues in hospitality industry on which understanding are built buy researchers so to
generate awareness for solutions.
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Research plays significant role in organisational life because it guides to look towards
various complexities along with taking actions accordingly. For hospitality organisations,
research is important as to grasp viable opportunities. In relevance to Maybourne Hotel Group,
use of research results in developing and advancing enterprise together with offers multiple
opportunities for expansion in future. There is no doubt that research is pursuit of knowledge as
well as related to problem solving, however, actual importance of research to entity is that it is a
source to grasp viable opportunities within the industry (Ruiz-Palomo, León-Gómez and García-
Lopera, 2020). Furthermore, it is hard fact that organisations require never end as their
requirements and operations are unstoppable. Conducting research time to time is rise in demand
among businesses as it is a way for finding future opportunities. At the end, managers believe
that research leads to advancements in business operations through fostering growth of practices.
Pros and Cons of research
Research is a mechanism for finding and communicating required information. In case
with Maybourne Hotel Group, research benefits in detecting problems as well as
opportunities. Research provides complete information about market and industry through
which marketers of hospitality industry detect issues in path of product success and opportunities
of growth (Lu, Chen and Law, 2018). Moreover, research helps managers of Maybourne Hotel
Group to identify competitive nature of industry to look whether target audience are satisfied or
not, channels of distribution are used or not and so on. Another advantage of research to
hospitality company is measuring brand reputation. Through research, managers become
aware about what their audience think of the brand that permits then for rebranding if required.
With this, hospitality companies are able to tap into more markets and determine interest of
customers effectively.
Research support decision making of management by providing all kinds of necessary
information to authorities prior devising nay decisions (Bello, Banda and Kamanga, 2017).
Unless as well as until all relevant data and information are supplied with tam of management in
Maybourne Hotel Group, functions are useless. It is pros of research that it supplies all existing
and adequate information to team for making reliable decisions. Business research benefits in
staying up date with market so that necessary changes in actions can be done promptly. In
Maybourne Hotel Group, research benefits in staying updated with industry and pertaining trends
so to make appropriate innovations for staying top in game.
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Despite of pros, there are cons on research in an organisation. In case with Maybourne
Hotel Group, disadvantage of carrying out research is that many a time, it provides inaccurate
information. It is become modern time is dynamic and trends changes over night. Due to this,
research lacks accuracy to understand trends within hospitality industry. Another cons of
research in business is that it is expensive in nature. Conducting research is uneconomical
process as it consumes huge time, efforts and money in carrying out activities such as
questionnaire, interviews and many more (Jolly, Self and Gordon, 2020). At same time, research
targets small population which is it’s another con. In aspect to Maybourne Hotel Group, one
problem which researchers encounter is lack of respondents. However, figuring out which part of
population is to target is easy but asking them for filling questionnaires and surveys is tricky.
Business research is totally based on assumptions because of which managers are not able to
forecast future on the basis of available information.
CONCLUSION
From the essay, it is concluded that research is said to a process to ascertain comprehensive
data for all areas of businesses along with incorporating information in practices to maximise
profits. It is systematic management practice which is used to look towards trends, customer
viewpoints and competitor’s strategies. In an organisation, research is important for planning
ahead, grasping viable opportunities, sharing valuable information, understanding social issues
and devising public awareness and building knowledge about industry. Measuring brand
reputation, support decision making, staying up date with market and detecting problems as well
as opportunities are some pros related to research for a company. However, cons of research are
expensive in nature, provides inaccurate data and targets small population. Conducting research
provides organisation with detailed overview of target segments, studying buying patterns of
consumer, constantly innovation, capturing opportunities and meeting preferences of customers.
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REFERENCES
Books and Journals:
Amatulli, C., De Angelis, M. and Stoppani, A., 2019. Analyzing online reviews in hospitality:
data-driven opportunities for predicting the sharing of negative emotional
content. Current issues in tourism, 22(15), pp.1904-1917.
Bello, F. G., Banda, W. J. and Kamanga, G., 2017. Corporate Social Responsibility (CSR)
practices in the hospitality industry in Malawi. African Journal of Hospitality, Tourism
and Leisure, 6(3), pp.1-21.
Guzzo, R. F., Abbott, J. and Madera, J.M., 2020. A micro-level view of CSR: A hospitality
management systematic literature review. Cornell Hospitality Quarterly, 61(3), pp.332-
352.
He, J., Zhang, H. and Morrison, A. M., 2019. The impacts of corporate social responsibility on
organization citizenship behavior and task performance in hospitality: A sequential
mediation model. International Journal of Contemporary Hospitality Management.
Ivanov, S. and Webster, C., 2019. Economic fundamentals of the use of robots, artificial
intelligence, and service automation in travel, tourism, and hospitality. In Robots,
artificial intelligence, and service Automation in travel, tourism and hospitality.
Emerald Publishing limited.
Jolly, P. M., Self, T. T. and Gordon, S. E., 2020. Attracting hospitality recruits: The benefit of
benefits. Journal of Human Resources in Hospitality & Tourism, 19(1), pp.1-22.
Lu, Y., Chen, Z. and Law, R., 2018. Mapping the progress of social media research in hospitality
and tourism management from 2004 to 2014. Journal of Travel & Tourism
Marketing, 35(2), pp.102-118.
Ruiz-Palomo, D., León-Gómez, A. and García-Lopera, F., 2020. Disentangling organizational
commitment in hospitality industry: The roles of empowerment, enrichment,
satisfaction and gender. International Journal of Hospitality Management, 90,
p.102637.
Russen, M., Dawson, M. and Madera, J. M., 2021. Gender diversity in hospitality and tourism
top management teams: A systematic review of the last 10 years. International Journal
of Hospitality Management, 95, p.102942.
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