Article Title: Executive Insights on Globalization, International Journal of Contemporary Hospitality Management
Authors Name: J. Mark Munoz
Date: 11/30/2014
In this article, the author discussed about the changes and challenges of business dynamics resulting from globalization, and provided the enhanced understanding and strategies for hospitality managers in emerging locations for success.
Firstly, the author designed a research that based on a descriptive survey conducted among 118 senior level travel executives in 35 different countries. The author collected data regarding the respondents’ perceptions on the potential impact of globalization on business, communication, accounting and finance, strategy, and individual psyche.
According to the results gathered from the research, the author pointed out to the evolving business dynamics in a globalized environment requiring strategic operational adjustments by hospitality managers, specially those located in emerging locations.
Finally, the author concluded the implications for hospitality managers in emerging locations. That includes preparing for globalization, enhancing cross-border knowledge flows, planning for financial practice modifications, speeding up business development efforts and utilizing technology strategically.
On my personal level, I like the research method the author used. The author has investigated 118 travel executives from 39 different countries, such as Australia, France, India, Japan, New Zealand, etc. The data samples are representative and persuasive. I also agree with the authors’ findings from the research that the strategic operational adjustments should be utilized for the global hospitality companies. Moreover, I think that hospitality managers should have greater awareness of the impact of globalization, so that they could take effective strategies to be successful.