Hospitality and Tourism Business Essay Example | Topics and Well Written Essays - 3000 words

Hospitality and Tourism Business - Essay Example Moreover, the industry also performs a key role in dealing with the aspect of unemployment all over the world by employing millions of people worldwide. In the contemporary context, the industry has undergone various noteworthy changes and its significance has reached a considerable level altogether (Barrows & Powers, 2008). It is apparent that the tourism and the hospitality industry have emerged as quite crucial with its presence being quite prominent all over the world. It is worth mentioning in this context that there are certain characteristics of this particular industry, which are observably unique and different from other industries upto a marginal extent. Some of the differing characteristics of this particular sector include its predominant nature of being a service industry although imbibing the characteristics of a product oriented industry as well, the labour intensive nature of this sector and the aspect of seasonality among others. All these facets are crucial for busi ness operating in this sector, with the purpose of devising their strategies ensuring sustainability in their operations (Tesone, 2012). Contextually, the primary intention of the discussion henceforth will be to analyse the characteristics of this particular sector in detail and recommend strategies to the small business units operating in this particular sector.... Over the years, the industry has expanded its presence extensively and has become a major contributor towards the development of the world economy. Arguably, the current prospects of the hospitality and tourism industry of the world have been in an ever rising mode and are expected to continue the same way in the near future. However, it is important to note that there are several reasons, which have contributed towards the immense growth of this particular industry in the recent years. Among the several factors, the uniqueness of the industry is one vital domain, where it excels evidently. Correspondingly, it is often argued that the hospitality and the tourism industry of the world are quite unique as it possesses certain characteristics that are quite different from other forms of industry to say the least (Brotherton, 2013). The hospitality and tourism industry is one of the few industries of the world, where the services provided to the customers are treated as the ultimate prod ucts; therefore making an initiative to mitigate the gaps and differences between product management principles and the notion of services management (Education Bureau, n.d.). Thus, the products offered to the customers in this particular sector are considered as intangible and perishable. The companies therefore strive to ensure effectiveness in their performance with the help of delivering efficient services to the customers, further ensuring maximum satisfaction from them. The primary emphasis of the business, in this particular sector, is therefore to develop the quality of the services in order to ensure a sustainable presence in the increasingly competitive environment, over a longer period of time (Vasile, 2009). Another unique characteristic of the

Project Management Essay Example | Topics and Well Written Essays - 2000 words - 23

Project Management - Essay Example This paper discusses about the process of project integration management. It includes details of its structure, its traditional uses and misuses along with certain drawbacks. Areas like developing project plans, execution of project plans and change management are also included in the study. The Shard tower of London has been used as an example of a successful project management (PMI, 2013). The primary goal of the project integration management is to establish coordination between all the elements of the project. It involves taking strategic decisions to make tradeoffs between different objectives and options, so as to meet the stakeholder’s interest in a resource efficient way. The PMBOK guide breaks down the integration management further into six steps, which are explained below (PMI, 2013). Project Charter Development: The details of the project are included in the project charter. It is an official document which gives authority to the management to proceed on the project and employ necessary recourses of the company in the project activities. Monitoring and Controlling: This process keeps track of the progress and performance, and reporting accordingly. This step acts as a control mechanism; if the progress deviates from the plan then immediately the process is stopped and necessary amendments are made in order to make sure that the progress goes in the desired direction. Integrated Change Control: All the necessary changes required in the process are managed in this step. It includes review of all the change requests, approval of the required changes and managing the changes in the project assets, planning and internal communication. Although the PMBOK guidelines state the above process, but Meredith and Mantel (2012) argued that there is no thumb rule for project management. Every project is different and thus each