Reflective Journal: Hotel & Hospitality Management, Module 3 Analysis

Verified

Added on  2022/12/19

|4
|678
|69
Report
AI Summary
This reflective journal analyzes the competitive environment of the hotel and hospitality industry, drawing from the author's experience as an Assistant General Manager. The journal applies Porter's Five Forces model to identify industry threats, highlighting the competitive nature of the lodging sector and the impact of suppliers and substitutes. It explores various competitive service strategies, including cost leadership and differentiation, and examines customer selection criteria. The author also discusses the application of SWOT analysis to assess internal strengths and weaknesses and external opportunities and threats. The journal emphasizes how the experience gained has enhanced technical and operational skills, providing valuable insights for future career management and competitive advantage within the hospitality sector. Relevant references are provided in APA 6th edition.
Document Page
Running head: HOTEL & HOSPITALITY MANAGEMENT
Hotel & Hospitality Management
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
HOTEL & HOSPITALITY MANAGEMENT 2
Reflective journal on assessment 3
I have worked as an Assistant General Manager (AGM) is Regent Park Resort. In this
organization, I have developed my understanding regarding different aspects such as the
competitive environment of services, competitive service strategies, Porter's five force analysis,
SWOT analysis, and customer selection criteria. During my working tenure in Regent Park, I
applied Porter’s Five Forces Model to indentify the various threats which were being faced by
the company and through such application it was identified that the threat of new entry is high
due to lodging brings in innovation.
It was also observed that Regent Park Resort operates its business in highly competitive lodging
industry. It was also identified that suppliers available in the dominant position could reduce the
margin so that Regent park resort can get the products at lower costs from the marketplace
(Bhavani, 2013). I could also realise that the Regent Resort always makes efforts to create a
significant market share for its own. Further, it was also observed that the threat of substitute for
Regent Resort is high.
During my work tenure I have gained remarkable experience about the organisational
management and the impact of industry’s environment to which it belongs. This experience will
certainly help me to manage my work in future when I would be working for any corporate body.
From module 3, I have enhanced my learning that there are different competitive services
strategies such as cost leadership, differentiation, and focus. In cost leadership strategies, I have
focused on some aspects like seeking-out low-cost customers, and standardized customer
service, and declining network costs (Gürlek, & Tuna, 2018). In differentiation, I have increased
my knowledge regarding some factors such as declining the personal element in service delivery,
Document Page
HOTEL & HOSPITALITY MANAGEMENT 3
declining perceived risks. These learning would be applied by me in the future to get a
competitive advantageous at the workplace.
It was also identified by me that different factors could be considered in customer selection
criteria such as availability, convenience, dependability, personalization, price, quality, and
reputation. This learning would be applied by me Regent Park Resort to pull the attention of the
bulk of customers.
To get the competitive advantages, I had conducted the SWOT analysis as it was supportive for
me to address the internal strengths and weaknesses as well as, external opportunities and threats
(Harvard Business Review, 2014). This learning experience would be applied by me in the future
in order to obtain competitive benefits.
My work experience in Regent Park Resorts has also contributed to enhance my knowledge
regarding the competitive environment of services such as relatively weak entry barriers,
customer loyalty, exit barriers, and product substitutes (Frei, 2012). This learning experience
would be beneficial for me to obtain a competitive advantage in the future. My previous
experience and module 3 have developed my technical and operation skills in terms of obtaining
competitive benefits.
Document Page
HOTEL & HOSPITALITY MANAGEMENT 4
References
Bhavani, M. (2013). Customer’s expectations of hospitality services. Journal of Management
and Science, 3(4), 16-22.
Frei, F. (2012, July 31). When to disappoint your customers [Video file]. Retrieved from:
https://hbr.org/video/2212632769001/when-to-disappoint-your-customers
Gürlek, M., & Tuna, M. (2018). Reinforcing competitive advantage through green organizational
culture and green innovation. The Service Industries Journal, 38(7-8), 467-491.
Harvard Business Review. (2014, June 10). The Explainer: Porter's five Forces [Video file].
Retrieved from: https://hbr.org/video/3590615226001/the-explainer-porters-five-forces
chevron_up_icon
1 out of 4
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]