The Financial Planning and Strategies of Firms within the Hotel Industry in the U.S
The Financial Planning and Strategies of Firms within the Hotel Industry in the U.S - Essay Example
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Extract of sample The Financial Planning and Strategies of Firms within the Hotel Industry in the U.S
The report focused on the forecasts that the industry makes as strategies of growth. This also touched on the business trends exhibited within the sector. The report merged the trends’ comparison with the other industries’ business trends over the past years. Analysis of industrial forecast and a business trend has acted as a measure of market competition among the firms within the global economics. Other analysis within the report included industrial financial scenario. In this analysis, the report undertakes to shed light on the financial management state of the firms and or companies within the hotel industry. From the analysis, it would be possible to provide an overview of the likely context of the industry in the face of scorching global financial recession. Finally, the report gives a broad analysis of the pricing system of the industry’s products and services. Here the analysis included the pricing policies, considerations, and standards. Like any other research report, this report of the research conducted on the operational context of the hotel industry seeks to bring to the knowledge of the policy and decision makers in the hospitality sector, the operational reality on the grounds for allied companies and or firms within the industry. The insights from this report seek to provide a platform for informing decision and policy-making within the hospitality industry with special focus on the hotel and hoteliers in the U.S. It shall also serve to assist as a point reference for planners in the hospitality sector who focus on the strategic planning for the hotels. Planners in the hotel industry, therefore, shall feel enlightened in their endeavors amid likelihood of stiff competition with other industries in the global market.
This research is being carried out to explore facts and findings regarding the hotel industry in America. The general objective of the study was to ascertain the financial planning and strategies of firms within the hotel industry in the U.S…
The organisation chosen for this report is Radisson Edwardian Hotel in the UK. It is one of the famous luxurious hotels in the UK. Further, this report will outline the 7Ps of marketing and how Radisson Edwardian Hotel applied 7Ps in their hotel.
Some of the reasons include adverse market conditions and poor managerial structures. As such, it becomes important to consider the most appropriate strategies that can help the companies to withstand the pressures of the markets and other challenges. This study applied qualitative strategies to explore the financial management processes and strategies with regard to risk.
This forms an integral part of any organization as it is through people that organizational objectives are achieved. The need to come up with a contingency plan touching on the employees or the organizational human resource stems in the fact that the hotel industry just like all other industries faces possibilities of turn over unsatisfied employees.
With growth in time and competition, managers of financial firms do introduce different new services for their firm but still fail to aware the customers for their services. With the implementation of different marketing techniques, I will elaborate the key successes that can be achieved with marketing campaign in financial firms.
Aim: To identify the pros and cons of various structures potential structures and provide academically or professionally supported justification for why the final structure is selected based on assessing the costs and challenges of implementing the structure.
The history of development of various hotel corporations, as a rule, testifies, that the level of profit is a result of quality service. The main objective of hospitality operator is to maintain the level of service quality and develop strategies to improve their services.
According to relevant academic bibliography a company can achieve success when it focuses mainly on three issues: content, change, and learning. In order to achieve this, the organizations need to develop generic competencies and apply a model where they mix effectively the competences and they have appropriate measures in place.
Prior knowledge of the various models like SWOT Analysis, PESTLE or Gap Analysis were greatly enhanced by the case study as these previously perceived ‘lofty’ economic terms now made sense when applied to the assignment particularly in analyzing the firm’s strategic management market expansion overseas.
Providing services is an essential part of the hospitality and the tourism industry, and are interrelated as tourism is considered the main factor for a successful hospitality industry. Hanan (2004) said that in order to benefit the development of hospitality and tourism, promotion and marketing are of importance.
Such hotels exists in the world over, the most renowned for particular foodstuffs include; McDonalds, chicken inn, Java house, and Starbucks just to name a few. My business of choice is a hotel industry. This is because food among other things is a basic need and not human can survive without it.
2 pages (500 words)Assignment
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