Hospitality sector, that is classified as a diversified opportunity with respect to the competitive market. One of the hospitality sectors, the businesses needs to have a better consideration that is related to the internal and external factors which can consider the issues classified as identified in the desired manner. The legislation, economic along with the society that is related to the norms which need to have framed properly that are related to the accomplish the objectives.
The hospitality industry is the overarching business which includes the combination of the hotels, restaurants along with the flights, trains, and entertainment (Andringa, 2016). The activities of the pleasure along with the leisure is defined under hospitality. Hospitality is one of the sectors which provides an immense revenue resource and also tends to provide a great amount of an opportunity to the businesses within the industry. This has been described as an immense revenue maker as per the countries.
Under the hospitality industry, it tends to provide great opportunities which can help the customers to enjoy the leisure of the hotel, luxuries and can combine travel and fun. This is one of the sectors which can make the countries having poor dependability on resources to revive up their poor economies. This can help in dealing with the tendency of the unstable economies or the violent economies to churn revenues on account of the hospitality sectors. Often the countries' hospitality industries tend to grow with the rise in the price of oil, along with the affected flight, train, bus, or the gas prices, which can allow traveling.
The two current external issues in New Zealand affecting the hospitality industry are the:-
the external issues which need to be evaluated with respect to the international hospitality businesses would be due to the constantly facing of the technological changes. As the technology is always evolving in there is a growing inbuilt strategy with respect to the process that is dealt in a negative manner and often creates issues properly. As such the technological resources along with the software’s cost would be high. It would impact the financial flow and also result in the mismanagement of the resources within the businesses.
It is also important to understand the evolving technology, there need to be additional steps which would lead to the training programs and synchronization of the development with respect to the requirements of the HR within the international hospitality businesses. training and the goals of the production go hand in hand, hence in order to make the optimum use of the technological resources and even inclination towards the software, there should be a proper knowledge gain (Evcil, 2018). The company should evaluate the growing overall costs of operations which can lead to cascading effects with respect to the business.
As the international hospitality sector is not been able to synchronize the growing agenda of the social issues that can lead to a negative impact in terms of the overall working of the sector.
The modern customers are also changing with the growing trends and technologies, which has entitled the rapidly moving technological synchronization into the system. As such due to the cultural values, it would lead to the acceptance or the rejection in terms of the international hospitality businesses. there is also an easy task in terms of the diversified customer which can keep the changes in terms of the needs. The hospitality sector is dynamic and it needs to balance from the long term development and also needs to have an intention to resolve the social issues.
With the growing issues of the terrorist attacks, it tends to impact the hospitality sectors of the various nations. Hence there should be a tendency to provide legal support and protection to the countries like India and recently attacked New Zealand to evaluate the safety issues. As such the international hospitality sector needs to withstand the growing economic dynamics and should be able to withstand the fluctuating currencies and the other growing unstable, unethical environment (Hall, 2016).
As such the hospitality sector within New Zealand is tremendously emerging and it has a potential of also classifying the various negative impacts which can lead to overall effects with respect to the development of the business. As such the hospitality business is supportive of the success and tends to be highly dependent with respect to the service quality along with the economic conditions, Such matters need to be precisely be estimated in an accurate manner.
There should also be an application in terms of the standards which should be evaluated from the framework of the economic aspects. it has been considered as a negative issue. Under the economic conditions, if they are volatile and tends to get affected with the global rate of the changed economy along with the negative implications for the exchange rate, it would lead to the negative perception of the customers. The hospitality sector needs to grow within New Zealand, as the economy is dependent on tourism and also on agriculture.
It is important to stabilize the fluctuating economies and government should take concrete steps to stabilie all the factors. Within New Zealand, the factors such as the GDP, PPP, and the currency devaluation is constant, but if not balanced it would lead to high cascading effects in terms of the cost management practice. To efficiently synchronize the cost factors, revenue and the profit models, the resources should be optimally utilized as the New Zealand economy does not have an abundant supply of the resources.
The social issues within New Zealand are also impactful as there is a tendency to change per the tastes, preferences, and trends of the customers (Harkison, 2018). There is also synchronization of the social issues with the services been offered in terms of customer needs. When there is a negative growth or impact in the hospitality sector within New Zealand, it leads to the laying off and shut down of the units. Often it needs to be strategically be inclined in terms of the services and should always understand the customer needs and changing expectations.
Such as of the company would like to introduce the automatic self-service such as providing full support to the premium clients in the form of free spa, massages or even eatables, the customers would automatically switch to such companies. They would also demand more premium packages which can be availed through the annual membership charges and plans, it would help to acquire a customer base. It is also important to introduce new services along with the changing accommodation facilities. It requires high costs and also would require to get new training and services. Another issue is of the safety and the protection concern with respect to the hospitality sector within New Zealand As people tend to opt for the places which are safe to visit and there is controlled security, facing terrorist activities would lead to negative consequences on the people.
It is also important for the business to be adaptive and be able to implement the businesses with the growth strategy with respect to the New Zealand hospitality sector. This tends to help the businesses to gain proper identification and provide assurance in terms of the financial stressors. It should strategically use the resources and should develop accurate ideas in order to relate with the deliverables.
Often if the company over commits its customers such as providing the accommodation across the beaches, which can lead to the devastating effects in the form of the financial and operational issues, it is important to chart out a plan. There is a need that management should figure out the internal factors along with the external factors which can help in determining the challenges for business. There should be a distinction and differentiation role in term of the measures taken.
The company can consider the software applications and even include the steps which can help in the matching the given accounts with the expenses, Such costing factors should be balanced and determined in an accurate manner. As such there should be significant anticipation of the hospitality sector and should also include the forecasting techniques and methods. A proper methodology to evaluate the research methods would help in withstanding the changing economic conditions (McKercher, 2018), Through the external forces, it would help in inculcating the. Company goals and objectives should match with the deliverables and projected figures.
The other confusing factors are to understand the economic trends and the changing fluctuations which should be renewable ad understandable. As there would be high inflation, the resources used would be costly, it should match with the customer pricing. There is also a need to utilize the given resources optimally, with the growing standards and the application it would help in charting out a long term development plan into the key consideration.
Also, the financial management practices along with the assessment of the cash flow management should evaluate with the strategic decisions as applied. It would help to determine the short run and the long run key planning along with synchronizing with the strategic decision in making effective plans.
Another factor is to understand is the technological factors that need to be related to the business standards, As the customers are impressively adapting to the growing leisure and the technologies which can match with the deliverables, such key components within the business would help in building a critical pan.
The hospitality sector should also be having a proper infrastructure to support the given operational standards, This would help the business to grow with the business cycle and also help in charting out the plans. As the new infrastructure is introduced which is more technology enabled and climbing, it would help in matching with the given operational standards. The growing focus of the business soul help in focusing on the supplies and purchases.
The vendor and the supplies belonging from the backward and the forward integration should be synchronized with the planning, It should be able to deliver per the organized planning. The resources are limited and the regular supplies would help in standing out of the business, The company can also invest in the one dimension of the training which can be introduced under the single frame cost and can help in overcoming the challenges.
As such the business entity within the given hospitality sector tends to provide a collaborative role in terms of the real-time application. This would allow an increase in technological integration and chart out a long term growth plan. The sector can grow if the companies and the various entities are adaptive to the external environment (Mooney, 2016), They need to continuously forecast and always include the latest trends, It needs to also include planning’s and charting out of the external and the internal changed trends which can evaluate the growth plan model,
For example, if there is an inclusion of an expensive technology software and per the research reports there is an introduction of the better gadgets at a lesser price, it would to the loss of the costs. The hospitality sectors should also be transparent and be more adaptive per the clear, concise and even include a more suitable software plan which can help in improving the business entity. The issues and the challenges can be overcome through the precise strategy and also building a critical path.
The growing market dynamics should be synchronized with mineral factors. It would help in determining the current trends and be more adaptive per the growing external factors.
As such the present research study tends to analyze and even determine all the factors which are related with the analyzing of the effects and the consequences on the customer changing demands with respect to the hospitality business performance (
Pablo-Romero, 2017). It is important to understand the growing changes per the customer demand which needs to oblige per the overall practice standards that can be improved.
It is important to understand and regard the growing changes in terms of the impact which is underlying in the customer changing demands that need to be anticipated with the hospitality business performance. there is also a need for the application that can help in the primary investigation practice which has been considered under the account. Upon conducting the interview’s and understanding perspective from the managers view belonging to the hospitality sector that are part of the organized sector in terms of reviewing the process.
Secondary study: There have been changing trends with respect to the influential customer's objectivity which can lead to the operational values in respect to the hospitality business (Stringer, 2018). As such, there is also a growing tendency of the changing productivity and the operational activities which can lead to changing feedbacks and the development issues.
Due to the limited scope in the research reports and the growing dependency in the limited sizing, sample it has lead to the limited data collection, This has lead to an insufficient process in the attainment of the data. There has also been limited time allocation with respect to the low time availability.
Customers should be understood with the growing sales practices which should be ethical and aggressive in nature. It should be inspected and forecasted with time.
It is important to impart to rightful skills set, knowledge and even include the framework of the training and developments.
This can help in the growing of the business and also allow to match with the changing trends and the protection (Tibay, 2018),
The customers and the changing economic or external factors are crucial to understanding the business requirements. This is the way the business can understand the changing market trends and the growing relationship to the working dynamics.