Importance Of Business Development In The Hospitality Industry

1368 Words6 Pages
In the fierce competitive market, if the organization want to remain competitive that they must to development their business. Hassanien et al (2010, p. 2) defined business development is the organization uses the resources to develop, improve, modify or extend their products or offerings in existing or new market. The resources can be internal, external or joint resources. A formidable relationship between with business development and success in the hospitality industry that may affected business performances and profitability. Some factors may affects the business to be successful which includes competition, partnership or alliances, brand and image improvement, customer attraction, retention and satisfaction. On the other hand, the effective business development is the organization through the activities to achieve their goals or increase their competition to face the challenges with competitors on the products or services. In addition, location and reduce costs are key elements to affects business profitability, the details explanation as following. Firstly, influenced by the market and competitors, products are often easy to imitate or copy if the organization want to maintain the competitive advantage their products must to do better than other competitors or the offerings is different than others. For example, Pacific Coffee Company has joined with Germany’s renowned Kruger Company to develop capsule system. This capsule system not only for coffee, it also can brew
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