Attractiveness Of The Hotel In The Industry Tourism Essay

Attractiveness Of The Hotel In The Industry Tourism Essay The process of conducting research on the business environment within which the organization operates and on the organization itself, in order to formulate and implementation of strategy for future business operations can be mentioned as Strategic analysis of hospitality organization. To do the assessment can use number of tools to process of strategic analysis, including PEST (sometimes PESTLE) for analyze external environment and, SWOT analysis use for the internal environmental scanning, and Michael Porter’s five forces model use to assists to understand the competitive forces, the attractiveness and current position in the industry. An effective way to know the past, present and future potentials regarding the industry development is analyzing the industry background as the part of strategic analysis. The External analysis can assess the factors affecting the industry to be existed including political, economical, social, technological, legal and environmental which have great impacts to run the business and use PESTLE analysis. In any industry which it is domestic or international, whether relating to products or services, the rules of competition are personified in five competitive forces of entry of new competitors, threat of substitutes, bargaining power of buyers, bargaining power of suppliers, and rivalry among the existing competitors. According to Porter, one of the crucial determinants of firm profitability is industrial attractiveness. In this assignment, a strategic analysis of the Galadhari hotel which is in hospitality industry has been done through the combination of both theoretical and practical facts regarding this property including organizational background and industry background of this hospitality sector in Sri Lanka, an assessment of the forces affecting the external environment (the use of PESTLE analysis) and an assessment of the attractiveness of this industry (the use of Porter’s 5 forces) regarding the future strat egic action to grab more hospitality market share. Background of the industry and about Organization By concerning about the Sri Lankan market of tourism there can be seen growth in the tourist market. All this euphoria gives rise to the doubt about whether Sri Lanka Tourism is well on the way to recovery and growth or not. For the last seven months that ended July this year (2010), arrivals are up almost 50% year-on-year (YOY) (341,991), with income also keeping pace at 69% growth (Quarter 2; US$ 244.5 million). The hotel and travel Colombo Stock Exchange (CSE) index has been increased by almost 200% for 2009. Today tourism is running on everyone’s minds, and it is difficult to open a local newspaper without seeing at least one written article on tourism. The reason for the dramatic improvement in Sri Lanka’s tourism data is the victory of war in May 2009. This would be a remarkable result when compared with other regional tourism destinations. Another reason for this improvement was the leader of the terrorist has killed and there is reason for cautious optimism that the social situation in Sri Lanka can improve rapidly. We can hope the company can take advantage of the ‘peace dividend’ by increasing the number of destinations the airline serves. Hotel Galadhari is one of the leading five star luxury hotels in the Sri Lanka. The story of the Galadari Hotel, Colombo which opened its doors in 1984, is a splendid tale of continual improvement of product and highest standard of quality in hospitality over the past 25 years.

Review of the journal article Essay Example | Topics and Well Written Essays - 1250 words

Review of the journal article - Essay Example The main key points are highlighted in the summary segment. Then the essay is evaluated in details in the critique segment. Finally in conclusion segment; important points of entire report have been summarized. Many MNCs of the developed companies have many advantages like brand-value, sophisticated technologies, innovation of products and services and efficient management systems. They also have vast pool of talent and finance. Emerging companies also have many advantages over well-known MNCs. If these advantages are applied efficiently then it can prove fruitful for emerging companies. Example is India’s Tata Group have created a plan and implemented it to develop talent and raise capital. Emerging companies have the advantage to exploit on the knowledge of local product markets. They can capitalize on the advantage at home by adapting on the knowledge of the customers. To grow across the borders, emerging giants exploited the similarities on the countries that are geographically nearer. Local companies have the advantage to realize the customers’ needs and taste. Emerging markets have the advantage to capitalize on local capital markets and local talents. Therefore this can help in a cost effective manner to serve customers in local and abroad. Major example is Indian IT companies such as Wipro, Tata consultancy services, Infosys and Satyam. Institutional void should be treated as a business opportunity as it helps to enhance the credibility of the claims that are made by the sellers and facilitate the flow of information. It also enables to facilitate transaction by creating forum or by distributing goods and services. But MNCs has an edge on intermediaries business. Despite facing bureaucratic and financial issue in the local markets companies used strategies to be successful in global market. Some of the companies exploited their advantage of knowing local talents and capital markets. Some of the companies capitalized on the advantage of

ECON WEEK 2 Assignment Example | Topics and Well Written Essays - 250 words

ECON WEEK 2 - Assignment Example GDP and its related concepts [real GDP, GDP per capita etc.] are therefore incomplete measures of an economy’s health, they only account for goods and services with legal monetary value; that is, those produced and sold in legal markets (Ouanes & Thakur, 1997). Accordingly, productive activities such as a businessman fixing own broken machine, literally bypassing market transaction processes, is overlooked. Secondly, it evident that a country producing too much goods and services might actually do so by emitting too much carbon dioxide into the atmosphere, thus, dampening the quality of life/air within its boundaries. Such negative externalities are always relegated in the periphery in GDP accounting, which by and large reduces the quality of human life (Hunt & Nesiba, 2008). Last but not least, a country’s output increases can be the result of increased hours of work with limited time off duty. Leisure time contributes a great deal to the quality of life that one lives , so much to the extent that it is but a misguided conclusion to assume that more products and services as measured by the GDP translates into a more enjoyable life within an