Got a tricky question? Receive an answer from students like you! Try us!

How do quality management systems impact on revenue in the hospitality industry - Research Paper Example

Only on StudentShare
Author : qmills

Summary

The research aims to understand how the quality management systems impact revenues in hospitality industry. For this, the study looks at the various companies which have applied these systems and then looks at the link between application of the system and the impact on revenues. …

Extract of sample
How do quality management systems impact on revenue in the hospitality industry

This research paper shows that quality management systems have positive impact on revenues of hospitality industry. It has been observed that this has been achieved by improved market share, brand image, ROI and competitive positioning. However, some concerns regarding the impact of these systems on overall performance of the firms have been highlighted. One of the concerns is the sincerity of implementation of quality management systems within the firms. The industry leaders need to understand that they are the main drivers of change which these systems propose to bring about. Hence, a commitment of words or even documented commitment is not sufficient. The leadership team needs to be thoroughly involved in its implementation. They need to have a quality vision to help firms achieve both revenue and cost benefits. Half hearted efforts, especially in the industry of our study, have found to have a negative impact on operational performance. Our literature review has analyzed all the aspects related to the questions set out in the beginning of our study. Hospitality organizations implement quality management systems by applying for certifications like ISO 9000, etc. or by internal process improvement programs. Some companies in this sector were seen to implement Six Sigma methodologies to reap revenue benefits. Most of the successful organizations in this sector have implemented full computerization which helps the management in analyzing revenue versus cost factors.

...
Download paper

Related Essays

Quality managment techniques and their relationship to revenue managment.
The research tells that the travel and hospitality industry is composed of a number of enterprises which are involved in supplying travel services to vacationers, business executives and entrepreneurs. These services may include hotel packages or bed and breakfasts, airline travel packages or services such as guided tours and automobile rentals. An important element is the travel representative, who is the intermediary between the vacationers, business executives, entrepreneurs and the purveyors of travel based services. The expertise of the travel consultant is desired and required by the…
13 pages (3263 words)
The impact of business environment on hospitality industry of Westin Grand Hotel situated in Munich of Germany
This paper illustrates that hospitality industry is a very significant constituent of the service sector and is a vital element for a country’s national economy. The hospitality industry is frequently defined as an unseen export because it does not usually include tangible delivery of goods, rather than movement of people. Tourists come into hotels from numerous places of world in order to obtain service and experience generosity. Hospitality industry is categorised by place bound industry, where the individuals and the visitors obtain goods and services in the same place. Therefore,…
23 pages (5773 words)
Impact of information technology on Hotel Business.
Hence, these changing information technology trends in hospitality industry force all economical hospitality firms to practically take advantage of any innovative technology that can offer their business considerable perfection in forms of greater customer satisfaction and employee efficiency. There are numerous researches have been conducted to determine the impact of information technology on hospitality industry. In this scenario, a research that was carried out in Australia by (Lee et al., 2003) declared that the information technology has significant influences over the capability of…
12 pages (3012 words)
Impact of information technology on Revenue management
The aim of devising revenue management techniques is to deliver the fine product or service to the appropriate customer at the precise price. This system is based on analyzing the customer’s perception of the value that the product would provide and make straight the availability, placement and price according to that perception. This discipline became the need of every business rapidly. There could be many reasons for this. Even a kid whose is out for selling orange juice will have to analyze and predict the appropriate weather and time for selling his product. When we talk about giant…
Revenue management practice in Hotel Management
Nonetheless, perhaps understandably, modern hotel revenue management brand varies extensively from that of more than two decades ago. Modification in the general handling of revenue management, inventory allocation, pricing strategy, use of information and channel management as concerns to revenue management tend to redefine the field. Similarly to how detailed past analysis might have a representation of the best pricing practice during the 1990s, apparently, the stock market-impacted algorithms exist in the cutting edge of modern pricing thought. Comparably, the highlighting on occupancy or…
12 pages (3012 words)
innovation in management services in supply chains(SCM)
Importance of innovation Innovation is best described as the development and creation of unique possibilities for making value added contributions in a particular industry. The entire process of innovation goes beyond the traditional method of implementing new manufacturing processes or developing innovative products because it comprises of much broader aspects such as innovation in the market, organization and input resources (Kim, Kumar, & Kumar, 2012; Ozturen & Sevil, 2009). Innovation in tourism and hospitality industry In the last few years, the researchers such as Boon-itt and…
8 pages (2008 words)
Dynamics of Hospitality Industry Management report
The industry has had major the negative impact on environment. The impacts have revolved around the usage of water, electricity, non-renewable energy and food wastage. Some hotels have been accused of spilling industrial refuse into rivers affecting the aquatic ecosystems. The hotel industry is embarking on training and equipment to ensure that employees make conscious decisions that encourage sustainability. This includes formulation institutional policies that enhance sustainability. The hotel industry hopes to reduce the waste output, energy consumption, water consumption and carbon dioxide…
6 pages (1506 words)