Hospitality Product Development

Introduction

The hospitality industry is one of the oldest businesses in history. People have always gone out to eat sometimes and traveled for work or leisure purposes. One of the fastest growing sectors of the economy of our time is the hospitality industry. The hospitality industry alone is a multi-billion dollar and growing enterprise. It is exciting, never boring and offers unlimited opportunities. The hospitality industry is diverse enough for people to work in different areas of interest and still be employed within the hospitality industry. Think about this: It makes sense to prepare for a job in which you have numerous opportunities for advancement, because it is an economic advantage for you in the long run.

The Hospitality Industry

The success in the hospitality industry means being flexible in business and in personal life, understanding the true meaning of customer and employee service, and knowing the job that you are asking others to perform. The industry professionals must understand how to make a profit. Having great customer skills no longer promotes you to the top. A degree in hospitality management with a strong emphasis in business administration strengthens your preparation for the industry. In additional to classroom preparation, junior and senior students especially should seek hands-on opportunities such as internships, shadowing experiences and mentoring relationships. Internships are very beneficial to students in that they provide immediate access to the real work world and also are the time for students to make mistakes as they learn. These experiences also provide the graduate with a strong level of preparedness for entry-level positions.

Although competition is tough, well-prepared students can expect steady opportunities for advancement. The industry is very demanding but rewarding and appreciates those who have paid their dues so to speak. Hospitality companies are looking for confident, well-adjusted individuals with good communication and interviewing skills.

Discussions

“The value chain describes the activities within and around an organization which together create a product or service. It is the cost of these value activities, and the value that they deliver, that determines whether or not best value products or services are developed” (Johnson, Scholes, & Whittington, 2005, p. 136).

The value chain that circling around the organization is the process represents as the blood of the enterprise. The hospitality industry describes the value chain are basically the process to create such products and services. And the cost that the travelers incurred is done because of those activities and not by the product or service itself. The activities are the steps to create a best quality of product and services. It is barely involve here in the activities the perspiration of every individual that contributed in forming the product. The specification and being in details in making certain product is also required to craft a good product.

In the accordance to this value chain, if the series of process is connected to one another, therefore, it is bound to call as a chain. The things that fall under those activities are the true values to price a certain product or service. In the different department of every company, the activities are also involved. There come the different marketing strategies that can also be taken as a value chain. While in the HR department had included activities such as training the newly hired individuals and monitoring their progress is a value chain that under the service category.

The Growing Indian Hospitality Industry

India has the potential to become the number one tourist destination in the world with the demand that grows annually. The major attractions in India are the world's highest mountains, miles of coastline with excellent beaches, tropical forests and wildlife, desert safari, lagoon backwaters, ancient monuments, forts and palaces, adventure tourism and, of course, the Taj Mahal. The country is witnessing an unprecedented growth in hotel constructions and guest-houses, as a result through the aggressive marketing strategies and campaign. The supports came from the Department of Tourism is aiming to position India as the global leader for travel and trade industry and the vast untapped potential of India as a destination.

Issues on the Future of the Industry

The industry for hospitality reacted in the global recession and the truth of it, is all of the industrial sectors are deeply affected by it. Despite the other factors that contribute the economic depression such as inflation and terrorism, the overall outlook for the Indian hospitality market remains optimistic.The International tie-ups that the Indian Hospitality Industry considered as a one main strategy had a big players involve. The marketing collaborations are very evident with major international hotel chains.

The fast growing hospitality industry is a good in the economy, especially in those countries that are still in the developing stage. The different products and services is an additional incentive for the travelers. An industry that is trying to save a drowning economy of a country is better that staying frozen inside the barren.

References:

Gailliard, F., (n.d.). The Hospitality Industry. The Black Collegian [Online] Available at: http://www.black-collegian.com/career/hospitality-199806.shtml [Accessed 13 Aug 2009].

Growing Indian Hospitality Industry [Online] Available at: http://www.hostsindia.in/index.php?option=com_content&task=view&id=18&Itemid=32 [Accessed 13 Aug 2009].

Indianground: Indian Hospitality Sector [Online] Available at: http://www.indianground.com/hotels/indian-hospitality-sector.aspx [Accessed 13 Aug 2009].

United States Department of Labor (n.d.). Hospitality Workforce System: Employment and Training Administration [Online] Available at: http://www.doleta.gov/BRG/Indprof/Hospitality.cfm [Accessed 13 Aug 2009].

What the Future Holds: Indian Hospitality Industry [Online] Available at: http://www.hostsindia.in/index.php?option=com_content&task=view&id=18&Itemid=32 [Accessed 13 Aug 2009].