Benefits of mobile applications in hospitality indusrty Essay

Benefits of mobile applications in hospitality indusrty - Essay Example in the service industry have a duty to identify the major resources that can help them generate competitive advantages in the course of their operations. Additionally, they have to be in a better position access these resources and capitalize on them effectively in the process of improving the performance of their businesses while being competitive in the industry. The type and relevance of resources changes from one company to another and may also rely on the factors present in the business’ external environment. So far, it is evident that some of the old resources used by companies in the past like personal contacts and offering low prices are fast losing their effectiveness as competitive advantages. These resources are being replaced by branding and quality as some companies have adopted them (Tsai, Song & Wong, 2009). Most companies, not only in the hospitality industry, have been researching and trying on new technologies in order to improve their competitiveness and enhance the quality of their products and services. When companies are developing these new technologies, they ensure that they set new policies and regulations to guide the use and application of these technologies in their business operations. One of the newly found competitive advantages for business and in the hospitality industry is dependence on information and technology. Information technology like the internet and mobile technology have become relatively new and significant sources of competitive advantages to firms. These technologies are very different from the previous strategies that some companies have relied on to enhance their operations and service delivery. Interestingly, most of the recent conventional researches and studies have not effectively portrayed information technology to be a significant factor that can enhance the success and excellence in companies’ performance (PraniÄ ević, Alfirević, & Ã…  temberger, 2011). Additionally, some recent studies have argued

Business Strategy Essay Example | Topics and Well Written Essays - 3500 words - 4

Business Strategy - Essay Example This led to the request for an ombudsman to provide a non-partisan view on retailer and supplier disputes. A code of conduct is intended to be introduced into the contract agreement between retailers and suppliers. Employee compensation must satisfy the requirements of the National Minimum Wage Law. Labour laws are stringently implemented. Supermarkets take up 73% of the food retailing industry in UK. Food and drink account for 65% of total retail sales (including non-food items). The economic system of the UK is capitalist in nature. The liberal economic policies foster competition. The stagnating growth and reduced profits of the retailing industry are facing the spectre of a 5% increase in doing business with effect from April 1, 2009. The decision has been delayed for the moment. The economy has seen recessionary trends in recent times. This has affected the willingness of customers to spend on discretionary items though the outgo on food continues. The food retail industry has matured in the country and profit margins are pinched (2-6%) as the fight for market share heats up. Inflation has been high though and retailers have had to cut prices and offer higher quality to drive sales. The big players in the food retail industry have seen pay hikes at an average of 3.7% while other retailers have limited the outgo t o 3%. Retailers are under intense pricing pressure due to customer demand for high quality low priced goods. The customer demographics have undergone a change. Single and dual member families with smaller purchase requirements have taken the place of the larger families of the past. Increase in the number of working women. The customers are growing older with single pensioners forming a large part of the customer population. The customers are not limited to a retail outlet and are likely to search for good buying options. They are aware of the price and quality that they can