Analyzing Tourism Hospitality in Business
An assignment on
Analysing Tourism & Hospitality in Business
Abstract Business environment in now a days is too competitive though in different countries tourism and hospitality industry is growing very fast. As a result, tourism and hospitality industry holds approximately 5 percent of total production in the world. Therefore, various association in tourism and hospitality are trying to grip largest market share and increasing their market place. UK hotel & tourism industry has been developing fast. According to Holmes, K. (2009), from 2004 to 2008 the worth of the hotel market amplified by 29.1%. Hilton Hotels mission is to turn into one of the market leaders in the tourism and hospitality industry. A PESTEL analysis is a framework or instrument used by marketers to examine the macro-environmental (external marketing environment) factors that have an impact on an association. SWOT analysis is one of the most importance apparatus in the marketing audit. The major policies of financial administration have direct and indirect impact on the hotel & tourism organization in UK.
Contents
Abstract 2
Introduction 3
TASK 01 3
L.O 1.1 Competing objectives of a tourism and hospitality organization 3
L.O 1.2 Range of methods used to enable the achievement of organizational objectives 4
L.O 1.3 Organizational goals, aims and critical success factors 5
TASK 02 7
L.O 2.1 Rational Model of strategy formulation 7
L.O 2.2 Evaluation of the organization 7
L.O 2.3 Tourism and Hospitality Market (Porter 's Five Factor) 8
L.O 2.4 PESTLE Factors 10
TASK 03 12
L.O 3.1 Roles of various Stakeholders 12
L.O 3.2 Process of marketing audit and customer profitability analysis 15
L.O 3.3 Evaluation of marketplace 16
L.O 4.1 Impact of macroeconomic factors on financial strategy 16
L.O 4.2 Evaluation of organization 's resources 17
L.O 4.3 Divestment and liquidation strategy 18
Conclusion 18
Bibliography 19
Introduction
Business environment in now a days is too
Analysing Tourism & Hospitality in Business
Abstract Business environment in now a days is too competitive though in different countries tourism and hospitality industry is growing very fast. As a result, tourism and hospitality industry holds approximately 5 percent of total production in the world. Therefore, various association in tourism and hospitality are trying to grip largest market share and increasing their market place. UK hotel & tourism industry has been developing fast. According to Holmes, K. (2009), from 2004 to 2008 the worth of the hotel market amplified by 29.1%. Hilton Hotels mission is to turn into one of the market leaders in the tourism and hospitality industry. A PESTEL analysis is a framework or instrument used by marketers to examine the macro-environmental (external marketing environment) factors that have an impact on an association. SWOT analysis is one of the most importance apparatus in the marketing audit. The major policies of financial administration have direct and indirect impact on the hotel & tourism organization in UK.
Contents
Abstract 2
Introduction 3
TASK 01 3
L.O 1.1 Competing objectives of a tourism and hospitality organization 3
L.O 1.2 Range of methods used to enable the achievement of organizational objectives 4
L.O 1.3 Organizational goals, aims and critical success factors 5
TASK 02 7
L.O 2.1 Rational Model of strategy formulation 7
L.O 2.2 Evaluation of the organization 7
L.O 2.3 Tourism and Hospitality Market (Porter 's Five Factor) 8
L.O 2.4 PESTLE Factors 10
TASK 03 12
L.O 3.1 Roles of various Stakeholders 12
L.O 3.2 Process of marketing audit and customer profitability analysis 15
L.O 3.3 Evaluation of marketplace 16
L.O 4.1 Impact of macroeconomic factors on financial strategy 16
L.O 4.2 Evaluation of organization 's resources 17
L.O 4.3 Divestment and liquidation strategy 18
Conclusion 18
Bibliography 19
Introduction
Business environment in now a days is too
References: Atkinson, H. & Brander, J. (2001). Rethinking performance measures: assessing progress in UK hotels. International Journal of Contemporary Hospitality Management, 13(3), 128-136. Bohdanowicz, P. & Martinac, I. (2005). Sustainable hotels: environmental reporting according to Green Globe 21, Green Globes Canada/GEM UK, IHEI benchmarkhotel and Hilton Environmental Reporting. In Sustainable Building (SB05) Conference (pp. 1642-1649). Brotherton, B. (2000). An introduction to the UK Hospitality Industry: A Comparative Approach Griffin, R Holmes, K. (2009). Volunteering, citizenship and social capital: A review of UK government policy. Journal of policy research in tourism, leisure and events, 1(3), 265-269. Hudson, S. (2008). Tourism and hospitality marketing: a global perspective. Sage. Murphy, P. & Smith, B. (2000). The destination product and its impact on traveller perceptions. Tourism management, 21(1), 43-52. Porter, M. (2008). The five competitive forces that shape strategy. Harvard business review, 86(1), 25-40. Quek, M. (2003). The development of hotel companies in the UK. Sautter, E. & Leisen, B. (1999). Managing stakeholders a tourism planning model. Annals of tourism research, 26(2), 312-328. Yu, L. & Huimin, G. (2005). Hotel reform in China a SWOT analysis. Cornell Hotel and Restaurant Administration Quarterly, 46(2), 153-169.