Essay On Hospitality Management

Introduction

Tourism and hospitality is an important sector in the economy of many countries in a business perspective. Meanwhile, from the perspective of academic, hospitality management is an interdisciplinary field of old time, which focuses on many areas, such as management, strategic management, human behavior, organizational behavior, finance, revenue management, planning, and marketing. Hospitality is defined as comprises businesses that serve people that away from their home. According to Mackenzie and Chan, hospitality is the action of kindness in welcoming and looking after the basic needs by the guest such as food, drink and accommodation and it is refer to the relation between the guest and the host. That shows that the Hospitality

This is because, there are many challenges and obstacles to be faced by every entrepreneur who wants to explore the global market. The most significant challenges if some company or organization wants to enter the global market are highly competitive. This is because, when markets are open up, and become more integrated, if affect the exchange rate rapidly, technology reduce the gap in the market, new sources of competition arise, and competitive pressures increased at all levels of the organization. Also, the threat of competition from companies in other countries such as India, China, Brazil and other growing country, as their own domestic markets were opened to foreign competition, stimulate awareness of international market opportunities and needs in order to compete international. Companies that previously focused on the domestic market are protected entered into the market in other countries, creating new sources of competition, often targeted at price-sensitive market segments. Not only is competition for all companies, regardless of their level of involvement of the global market, but the basis for competition change. Continues to be a market-based competition and ultimately relied on superior value to consumers. But it is not impossible if the entrepreneur has the knowledge, experience, besides having the determination to succeed. Explore the global

Business franchising and licensing are two examples of the most accurate in this terms. This is because, both these types of businesses is a very influential to someone entrepreneurs in marketing their products to all over the world while improving the image of their business to the public. These businesses provides an opportunity for entrepreneurs interested in venturing into business by offering a package that is quite interesting as it gives an opportunity for local entrepreneurs to use trademarks and patent of the holding company. For licensing, it is a contract in which transactions of a business firm that is the licensor will offer some of their assets to other foreign companies which also may be known as a licensee. Next licensor will get benefit and reward in the form of royalty payments from the licensee. Examples of assets that can be part of the licensing agreement include trademarks, technology, knowledge, production processes, and patents. For a franchise business, the same as the licensing, franchising also provide an opportunity for entrepreneurs to explore the global market. In this case, the franchise is an approach that opens the easiest way for an individual or company to enter the business field. Franchising covers all types of networked business that meets the basic features of 3S system, specialization and standards. Franchising can be