When thinking of what industry to focus my paper on‚ I couldn’t help but think of an industry that I use almost on a day-to-day basis: online video streaming. I felt it was a suitable choice for representing the different areas of Porter’s Five Forces Model because it seems as though there is always some different development happening within the industry. An article I found on The Economist’s online site addressed some of the main industry developments quite well. This particular article‚ titled
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INTRODUCTION TO HOTEL MANAGEMENT IHM110 Week 2: Introduction to Hospitality Industry and the Origin of the Hotel IHM 110 Outline • Meaning and definition of Hospitality industry • The origin of the hotel • What service the industry provides and who it provides for • Characteristics of the hospitality industry IHM 110 What is the meaning of HOSPITALITY “The friendly reception and treatment of guest or stranger” ____________ “The act of kindness in welcoming and looking after the basic needs
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5 forces of Porter The 5 forces of Porter are named after Michael E. Porter. This model classifies and examines the competitive forces that characterize every single industry plus it helps to give a clear understanding of what the strengths and weaknesses are of each type of industry. In addition to this‚ the 5 forces of Porter were mainly designed as a response to the famous “SWOT Analysis”. These 5 forces are the following: 1. Competition in the industry 2. Potential of new entrants
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Module Code: PICS01C Student Number: 7305-272-8 Due Date: 15 March 2011 [pic] a) Five-forces diagram for analysis of the retail car industry in the greater Johannesburg area 1. Competitive Rivalry Competitive rivalry exists between companies with the same or similar products/services and similar markets. Factors to be considered include: • The number and size of competitors • The rate of industry growth • Differentiation and switching costs • Fixed costs or perishable products
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THE HOSPITALITY INDUSTRY AND YOU What is hospitality management.- Most people think the hospitality industry the usually think of hotels and restaurants . However the true meaning of hospitality is much broader means the reception end entertainment of guests ‚ visitors or strangers with liberality and good will. Hospitality not only includes hotels and restaurants but also refers to the other kinds of institutions that offer shelter food or both to people away from their homes. The hospitality
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of the Hospitality Industry In this lens‚ the rapidly-growing hospitality industry is discussed. ’History of the Hospitality Industry’ takes a look at where the hospitality industry came from and where it is headed. History of the Hospitality Industry Why do we care? As many scholars begin to look for jobs in a market economy that seems to shrink every day‚ it is good to see a glimmer of hope. As many top corporations in every sector struggle to make a profit‚ the hospitality industry actually
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Sonia’s smoothies 1) Nick calculated that of 200 customers who completed the questionnaire at the rock festival‚ the mean age was 23. The age distribution conformed to a curve of normal distribution with a standard deviation of 5. Calculate the number of customers aged 33 and over who featured in Sonia’s survey (33-23)÷5 = 2 2% of 200= 4 Answer= 4 2) With reference to the report on the UK smoothie market (appendix 2) analyse two limitations of using secondary sources as the
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IMPACT OF GLOBALIZATION ON HOSPITALITY AND/OR TOURISM INDUSTRY Globalization refers to the increments in the relationships of the people‚ industries‚ culture and various activities of economy. The term Globalization refers to the economics and all the global distribution of the production of goods and service which ultimately reduces the barriers of international trade like export fees‚ import quotas and various other tariffs‚ Cowen (2003). The Globalization has contributed to the growth of economy
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Exploring the hospitality industry CHAPTER 1 Characteristics of the hospitality industry - Hospitality businesses are open 365 days a year‚ 24 hours a day - Constant strive for outstanding guest satisfaction - leads to guest loyalty - leads to more profit - Services are mostly intangible - the product is for the guest’s use - not possession - only - Inseparability: - characteristic of services that makes them inseparable (1) from their means of production‚ and (2) from the customer’s experience of
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Porters 5 forces on Tesco: Porter’s five forces look’s into the external factors impacting on a company. Competitive Rivalry: Tesco’s has a very high competitive rivalry in many aspects of the market from some major competitors in the food retail Industry like Asda‚ Sainsbury‚ Morrison and Waitrose. They compete with one another through price‚ product and promotions periodically. Tesco’s express’ main rivals are the Sainsbury local and the Co-op one way in which they compete with Tesco’s
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