Evaluate the opportunities and threats in the external environment facing the car industry in the UK There are many factors that affect the UK car industry. Some are internal factors and controlled by the manufacturer‚ others are external and cannot be controlled. Some external factors pose threats to the car industry and others present opportunities for manufacturers to adapt their cars to overcome a threat and create a unique solution that encourages the consumer to buy their product. The income
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Economies of Scale * This is the cost advantage that a business obtains due to expansion. * That is the factor that cause the average cost of producing a product to fall‚ as output of the product rises as explained in the ‘Dictionary of Economics’. * By achieving economies of scale‚ a company would have the cost advantage over its existing and new rivals. * Further‚ the company could achieve lower long run average cost (i.e. productive efficiency). But if technology changes‚ this
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Journal of Hospitality Financial Management The Professional Refereed Journal of the Association of Hospitality Financial Management Educators Volume 13 | Issue 1 Article 26 1-1-2005 Ratio Analysis for the Hospitality Industry: A cross Sector Comparison of Financial Trends in the Lodging‚ Restaurant‚ Airline and Amusement Sectors Woo Gon Kim Baker Ayoun Recommended Citation Kim‚ Woo Gon and Ayoun‚ Baker (2005) "Ratio Analysis for the Hospitality Industry: A cross Sector Comparison of
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Introduction to Hospitality Miroslava Dimitrova Ph.D Accommodation sector Hospitality = Hotels + Restaurants Lodging Industry Hospitality industry: Provision of accommodation as well as food and beverage services to short-stay guests on paying basis. The Pineapple Tradition • Symbol of welcome‚ friendship and hospitality • Recognized internationally • Foundation for concept of “SERVICE” Types of Accommodation • Hotels • Farm houses (Guest houses)‚ bead and breakfast (BB)
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Hospitality Management 18 (1999) 427}442 Operational issues and trends in the hospitality industry Peter Jones School of Management Studies for the Service Sector‚ University of Surrey‚ Guildford‚ Surrey‚ UK Abstract This article makes some predictions about the future by considering operational issues in the "rst part of the next century. Hospitality operations management is considered at two levels * the "rm level at which strategic operations management takes place; and the unit level
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Economies of scale are the cost advantages that a business can exploit by expanding their scale of production. The effect of economies of scale is to reduce the average (unit) costs of production. Economies of scale‚ in microeconomics‚ refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit cost
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The Hospitality Management The hospitality industry supported 7.5 million USA jobs in 2011(“selectusa.commerce.gov”). It includes a broad variety of service industries that incorporate food service‚ tourism‚ and hotels (“economywatch.com”). The business depends in large part on the number of people traveling for business or pleasure. Economy has a big impact on travelers’ decisions. When individuals and corporations are doing well financially‚ they are more likely to take vacations and spend
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Hospitality management’s purpose has to do with accommodating and treating people in a way that is the most appropriate to the situation. It is one of the most growing industries and provides the employment of many. It now has attained a much higher status in society and demands high standards of work from its employees. I believe people in hospitality require: an enthusiastic attitude‚ friendly disposition‚ neat appearance‚ a willingness to work‚ confidence‚ cleanliness‚ personal hygiene‚ adaptability
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CASE STUDY I: CULTURAL DIVERSITY AT NIKKO HOTELS INTERNATIONAL Nikko Hotels international is a subsidiary of the Japan Airlines (JAL) Development Company‚ Ltd. It was created as JAL’s diversification and globalization strategy to strengthen the company’s marketing and financial position. Known for its aggressive global marketing and application of new technology in hotel operations‚ the company is determined to establish a worldwide network of hotels comparable in number to Hilton‚ Sheraton
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OF PURPOSE "Those blessed with the curiosity to learn and search are forever young" - Bruce Lee. The hospitality industry is one area where a large number of managers and chefs have become entrepreneurs and successful owners of their own businesses. Being a futuristic person I handle things with great patience‚ which is the main positive sign that strongly relates me to this esteemed industry. A constant learning process would lead me to improvise on the professional skills required to survive
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