Analysing Risk Management In Holiday And Hospitality Industries Tourism Essay

Analysing Risk Management In Holiday And Hospitality Industries Tourism Essay Loyalty of guests and tourists is created only by strong relationships where the guest feels special and important. Generally, people go to a hotel or plan for a trip on an emotional feeling. The feeling should be good, risk free, safe, and effective and even to increase their confidence. Almost all guests go to a hotel for the same reason. If the hotel gives them a homely feeling then they will come over there again and again. But, if the hotel is not making them feel important or special, they will buy it somewhere else. The loyalty of customers is totally dependent upon how safe they feel at hotel. They should feel important and special. They should get proper attention by the hotel they dealing with. The hotel should believe that the guests coming to the hotel are an important part of servicing customer needs. In order to make a loyal guest, we need to go ahead of their expectations from the hotel. The WTO (World Tourism Organization) had conducted a research on tourism all acro ss the world. They have provided some of the critical and interesting facts on the contribution of Tourism and Hospitality Industry to the whole world. The Average Annual Increase is 4.0 %. But his sector is also facing a number of risks and we are trying to manage those risks! The main aim of the risk management process is to increase the prospects and opportunities and decrease the consequences of a risk event. During the whole process, there are common conventional stressors, but our reaction to those stressors differs from person to person as we are all unique persons. The anxiety and confusion that come from not knowing what lies ahead can create stress. People used to utilize basic defenses when high degree of uncertainty arises. In this state of vagueness, generally people easily way out to disbelieve, removal and self-defense. Individuals are told that the ways used in old days are no longer functioning and often this note becomes modified that they are not appreciated. We n eed to work hard to manage any kind of risk successfully. When everything is planned carefully, the proper foundation is being built, launching a product becomes much easier, and we can improve the chances of success. If we are too impatient, and if we expect too many results too soon, our plans for change are more likely to fail. It is therefore of critical importance that the present tourism systems should be considerably made stronger to give comfort to the tourists from all across the world. www.gov.ab.ca/edt/tda/abstats.htm B.C. Visitor Study Highlights; Tourism British Columbia. Today the Hospitality and Tourist Industry is facing the following type of risks: Safety Risks Technology Risk Political Risk Business Risks Financial Risks Following is the process of Risk Management: The big Picture; 1997-98; Vol. 41, Travel Industry World Yearbook. METHODOLOGY Online research data has been taken from different web sites, articles, and theoretical studies from different books. We hav e used the methodology of collecting information from both the sources. And these sources include personal interaction with experts which is the primary source of information and information collected from websites is the secondary one.

Advertising Assignment Example | Topics and Well Written Essays - 2000 words

Advertising - Assignment Example From the modest beginning, today it has grown into a consumer product giant with 400 brands. Their product portfolio includes those related to personal care, home care, food, hygiene, nutrition, health and beauty. These are used in more than 190 countries around the world, with dual headquarters in UK and Netherlands. Driven by strong and futuristic principles, the company registered a turnover of  £44.3 billion in 2010, the net profit being  £4.6 billion. It has 12 power brands that drive annual sales of more than  £1 billion. Unilever is a workplace for around 170,000 employees. The company’s success is hugely attributable to its belief in maintaining high standards of corporate behavior, be it at the consumer, stakeholder or community participation levels (Unilever, 2011). The sustenance of a brand in consumer product sector is dependent on its promotion, which is again largely shouldered by advertising. This is because of the competition in the industry and the need to reach out even to the remote population, in order to tap some extra space in the market pie. The pull effect caused by advertising in the consumer product range far exceeds that resulting from other methods of promotion, mainly because of its reachability, influence on consumer preferences and buying decision (Lamb & Dunne, 2010). Unilever also abides by this mode of promotion, due to the widespread nature of its operations and multiplicity of products. It sees advertising as a medium to explain the benefits of Unilever’s products, while actively engaging the consumers in improving not only the company’s products, but their own lives. The advertising and promotional expenses of the company amounted to 5.6 billion euros in 2010 (Unilever, 2011). Ad Age Digital reports that this advertising budget of Unilever is ranked second highest investment by various

Ritz Carlton Hotels and Service quality Research Paper

Ritz Carlton Hotels and Service quality - Research Paper Example The Ritz Carlton has developed excellent service delivery strategies, which enable it to stay at the top (Reiss, 2009). This paper will look at some of the strategies, and how these ideas have shaped the way for other hotels to embrace service quality as a means of acquiring and retaining customers. For the Ritz Carlton, customer service is something they invest in, offering their employees more than a hundred hours of customer service education so as to ensure their preparedness when dealing with customers. When organizations in the hotel industry neglect the aspect of improving service quality in favor of cutting costs, they are doing a great disservice to their customers and the organization’s stakeholders. The Ritz Carlton, in its bid to be the best, implements the three steps of service, which involves; welcoming customers, anticipation and compliance, and fond farewells (Reiss, 2009). Customers create bonds and relationships with employees, hence; creating an exceptional reputation in the whole industry. In the three steps of service, a warm welcome is part of the package for customers. Whenever guests arrive, it is customary to greet them and address them using their names when and if possible. In this strategy, there is the anticipation and fulfillment of the guests needs. In this case, the employees anticipate what the guest’s needs may be, and helps in fulfilling them to the customer’s satisfaction. This brings in a cordial relationship between the people involved. A fond farewell, which is part of this package, enables the customers to feel like they are leaving a part of them behind, which makes it easier to make a return whenever possible (Verma, 2012). The ‘twelve service values’ is a strategy that allows the employees to bring forth the brand’s promise to its customers and guests. In this strategy, each starts with letter â€Å"I†, which works to demonstrate the power