Saturday, January 25, 2020

Entry Modes In Hospitality Industry Tourism Essay

Entry Modes In Hospitality Industry Tourism Essay Research carried by the author has pointed out the differences in the choice of entry mode of Accor in Thailand and China. According to interviews carried before the analysis, managers in Thailand assumed the foreign direct investment as the major choice for local market, which can intensify the network of hotel chains and avoiding financial constrains. According to Sass (2003), FDI is an entry mode which bounds the international business with the domestic ones. Thus, this choice is appreciated by the local government in Thailand, which may be too busy in political reconstruction to get into the rebooting of tourism and hospitality industry. Meanwhile, acquisition is applied by Accor Thailand in order to get acceleration in network expansion. This is mostly realized by management contract, which according to Esperanca (1992), can separating the ownership from the management. However, the long-term contract is related to the motivation systems for the owners, which also admitted by Thailand managers that credibility, trust mechanism are still needed to be constructed for the local owners. Different from this, the strategy in China, especially in the brand Ibis owns the unique characteristic. Although franchising is assumed to be the ideal choice for franchisor and franchisee by the assistance in operation system and the quicker mode to establish network (Pine . Zhang, 2000). It is the fact that many countries are lack of the stable environment which facilitates the process of franchising. As a consequence of this, the overall and diversify market in China is become the ideal choice for this attempt. After all, franchising is putting the reputation of the brand into danger. Once the operation in one point is facing crisis, the whole brand reputation will be called into question. 2.0 Reasons contributed to the different strategy 2.1 Relationship with local strength in host countries This element is viewed as an influential factor in the extension strategy for international hotel chains. While in consideration of the circumstances in those two countries, it is easy to find out the differences into this factor. The first fact is the leading position of Accor in Thailand, which make it more convenient to expand within that country without real competition. Meanwhile, Accor in Thailand is trying to develop better relationship with travel agencies, which can help the process of promotion in current downturns. Even though this efforts is turning unsatisfying results, which can be reflected by the merely 3% guests who claimed to be introduced into the hotel by travel agencies, this efforts in this area are still worthy. Since from long-term perspective, the markets in host countries, especially in new booming ones like Thailand, are more essential for the development of international hotel chains (Gammeltoft Pradhan, 2010). Cooperation with local strength may change the disappointing situation on the overall brand promotion for Accor in Thailand. However, in Chinese marketing, the most worthy way to cultivate is not the one of travel agency. Since many travel agencies in China are limited in moderate scales and not be trusted by travelers, especially native people. Due to the situation in China, that reflects as the relatively close relationship shared by Chinese among friends and family. The results of 23% interviewees who claimed their recognization of the brand is from friends and relatives have provided evidence to this aspect. As a consequence of this, it is understandable why Accor promotes Ibis, which is a economy hotel, widely in Chinese market. Since more local tourists will be attracted by the recommendation from friends. Besides the target group, the local brands and government can also be viewed as important strengths in China for Accor Group. Most MNCs, especially those indulged in service industry like Accor are attracted by China for the low cost of labor, since most of these industries are known as labor-consuming. However, the Chinese government is claiming the efforts they will put in the transformation in this area. Policies will be put more highlights on high-tech area. Thus, for Accor Group in China, it is not advisable to perceive the low cost of labor as an advantage. This is just be self-evident by the efforts Accor have put into the promotion of brands belongs to high class like Novotel as a sign of quality-provided chain. 2.2 Culture aspects Lake of cross-cultural awareness is the major reason which contributes to the frustration of MNCs in host countries. For Accor Group, which pursuit for the position in service industry, this awareness seems to be more essential. The analysis of visiting purpose of the guests can give the most obvious distance from Chinese and Thailand culture. Compared with 27% of guests who claimed to visit hotels on the purpose of relaxing in Thailand, the correspondence rate in China is revealed as merely 9 in 93 persons. This difference, if finding explanation from the culture side, can be understood as Chinese always value family concept more important than other cultures. That is, they will be less likely to choose relaxing places besides home. Thats can also be viewed as reason that contribute to the over 50% satisfaction with the facilities of the hotel in China, since most of them are travel on purpose of business or sightseeing, there needs in additional facilities are relatively lower than others. Thats the reason why Accor promotes brands like Novotel in China. As the business image of the Group, Novotel is just attractive for those international business people who pursue excellent quality service. And the expansion of lower brand Ibis is just suitable for the economical pursuit for sightseeing guests Different from this, Accor is trying to establish more brands in Thailand market. This strategy is also related with the recovery of the political situation. However, it is designed to satisfy the needs of multiple cultures in Thailand. 2.3 Geographical difference This element influence the control relationship between headquarter and subsidiaries abroad. Rodrigues (1995) has lighted the two choices for the headquarters-foreign subsidiary control relationship, included centralization or decentralization. However, the geographical circumstances in China have put a challenge on the centralization process. Thats also the major reason that Accor apply franchising mode in this country. Due to the large area and diversity in many elements, the centralization process will cause too much efforts of the headquarter company. Different from this, Accor Thailand is trying to introduce more brands designed for different groups of people. The higher class hotel like Novotel can not be promoted in methods expect from direct investment, thats partly due to the danger of quality maintain in mode like franchising. Meanwhile, in area like Thailand, whose economical centers are concentrated in the certain region of the country, decentralization will more easy to be realized 3.0 Recommendations in strategy improvement in Thailand and China A. Focusing on the promotion of overall brand. Even though the overall satisfying situation in the subject hotels of research carried by the author is highly evaluated over 50% countries, the recognization of the Accor Group is disappointing. As Punjaisri and Wilson (2007) defined the recognization of the brand for existing guests can give influence to other costumers. As a consequence of this, the disappointing current results will cause barriers when Accor introduce new brands into these two markets. B. Trying to attract different guest groups Business guests and sightseeing ones are two unique highlight in Thailand and China, which covered the largest part of the interviewees in those two markets separately. However, as a hot destination, Thailand owns the distinctive potential in tourism. Even though the Accor Thailand is witnessing 25% guests who claim to settle for sightseeing. It still has a great distance when compared with the booming of tourism industry in this country. Thus, it is advisable for Accor in Thailand to promote image as tourists choice. Different from Thailand, China has been long recognized as sightseeing attraction. As a consequence of this, most international hotel chains would be more likely to position themselves as types for tourists in this market, which also in turn make competition in this area. The 43% sightseeing group also verify this strategy of Accor in China. However, as a developing country who is in the acceleration development, the business guests in China will be increasing gradually in near future. Meanwhile, the location of China also makes it taking the role of economical hinterland for countries in Asia or the world. Thus, the business potential will worthy the efforts to promoting business hotels in Chinese market. C. Combination of entry modes Franchising owns the fastest expansion speed while direct invest witnesses highly control relationship. However, both of these methods own their cons and pros. Current situation is the separation of both modes in China and Thailand as major strategy for those markets. However, franchising can also be applied in Thailand, while franchising may facilitate the development of certain brands in China, Taking the All Seasons in Thailand as example, they are operated by the method of FDI, and only establish a network from Bangkok to Pattaya. The relatively slower speed just testifies the disadvantages of direct investment. Thus, in order to operate economy hotel more successfully in Thailand and set up the wildly net which can attract more tourism. Franchising, which is unique in Chinese market can also be used in All Seasons in Thailand. Higher class brand like Novotel can maintain in the way of direct investment which can ensure the quality of service. While in China, Accor is trying to expend as fast as possible in order to get more share of this booming market. Franchising as the most effective way in this aim is widely applied to expand the economy brand. However, when Accor moving forward in China, there must be attention paid on the choice of the city. The subjects which are chose in the research of author reflect the subtle difference Accor in brand operation among different cities in China. Dalian, as a city bordering on the sea, is always perceived as sightseeing destination in China, thus, Ibis here will position itself as economical choice for tourists. Different from this, Beijing, the capital of China, which is also the centre of economy, is the ideal choice for Novotel to settle. However, due to the larger area in China, the serves radius of a city here is limited. When putting into strategy consideration, it will be necessary to value how many cities exactly Novotel Beijing can provide service to. As a consequence of this, one city in China may shoulder two responsibilities, which can serve as tourism destination and economy centre in center region. Thats where the combination of entry modes should be applied. Meanwhile, the direct investment may be not suitable due to these characteristics, management service contracts can be applied as a replacement, since its a method which can be more decentralize than direct investment, meanwhile, owns more control than franchising. D. More emphasis on the Internet and media promotion This suggestion is merely based on the disappointing situation of Internet channel in both countries. According to the research, this is only 9% and 13% in Thailand and China of the guests who claim acknowledges of information of the hotels is from the Internet. Since Accor is trying to establish the network in both of these two markets, no channel can be more effective than Internet promotion. While at the same time, according to the development situation in both countries, the Internet has already become the major source of information for people It is advisable for Accor to fulfill the existing blanket area in this category. Besides the Internet, the media approach is also neglected in both countries. Even though the media can not be an effective way to promote service of the hotel or provide information details. It can be an efficient approach to the overall brand promotion, which is thought to be a failure for Accor in both markets. As a consequence of this, media can be used to promote the image of Accor and improve the recognization situation of this company among local people, while the Internet can convey the detail information to the target groups. Conclusion To sum up, despite the fact of expansion strategy in both markets, differences are also witnessed according to the various elements like culture, economy and relationship with strength in host countries. Meanwhile, in order to get more share in these two new booming markets, Accor has also to adjust details in its strategy in order to make it more appropriate to those two countries.

Friday, January 17, 2020

Corporate Governance and its Impact on Firm Risk

This time period was selected based on the ease of availability of data for the variables. BRIEF SUMMARY: Corporate governance measures like board structure, compensation structure and ownership structure are determined by one another, and by variables such as risk, cash flows, firms' size and regulations etc. Firm risk has a role to play in firm performance, because firms that take more risk generally have higher returns. Firms that engage in risky projects are expected to yield better returns that those which lack the appetite to take asks.However, excessive risk taking may prove to be fatal for a firm Family Ownership and Firm Risk – studies the impact of corporate governance (through family control, bank control and ownership concentration) on risk taking of Japanese firms. Bank Ownership and Firm Risk – Banks are expected to have low risk-taking preferences and are most likely to avoid risky ventures. Ownership Structure and Firm Risk – Managerial ownership plays a significant role in firm's risk-taking.Lesser ownership in this regard may hold back the managers to indulge in risky projects. Board Independence and Firm Risk – Structuring of a firm's board of directors also plays a crucial role in reducing the agency costs. Therefore, the role Of the executive board's structure is also crucial for the firm's value. Non-executive directors on the board of directors, acting on the part of external shareholders, are generally expected to monitor firm' s strategy and decision-making in this regard.CRITIQUE: The study on corporate governance has received considerable attention in the past decade or so due to the significant role of corporate governance in enhancing the firms' performance. This research has investigated the impact f various corporate governance measures have been on firm performance and firm value. This study can also contribute to the corporate world by incorporate a vast range of corporate governance variables in the analysis, including bank ownership, family ownership, managerial ownership and board independence.

Thursday, January 9, 2020

Energy Drinks Liquid Meth - 1201 Words

Walter Brodner Prof. Geerling ENC1101 5 February 2013 Energy Drinks: Liquid Meth? Over the last decade, drinks containing high amounts of caffeine, sugar, and other ingredients that increase energy have been rapidly growing in popularity. Clearly these beverages are known as energy drinks. Energy drinks have gotten so popular that it is extremely rare to find a convenience store that doesn’t sell a variety of them. Students use energy drinks to cram the night before a test, athletes use them to exercise, party animals mix them with alcohol to drink more than humanly possible, and some people just drink them to stay awake at work after a sleepless night. Red Bull, one of the most popular energy drinks in the market, claim to enhance†¦show more content†¦Despite all the controversy, most people can agree how useful a jolt of extra energy can be some days. Energy drinks can help a doctor be more alert during surgery during a graveyard-shift, help college students get that â€Å"A† they have been working towards all s emester, or keep police officers vigilant and energized on the job. There’s no way of knowing exactly how many college students that graduated owe their diploma to caffeine, but it sure didn’t hurt to be able to pull all-nighters while being alert. People that enjoy exercise can lift-weights or do cardio way more effectively by drinking one before the work-out. Energy drinks are not only safe but they are making people more effective workers, students, or athletes. Besides the obvious and immediate effects of drinks containing high amounts of caffeine there are a few long-term benefits worth mentioning. Depression is a horrible condition that slowly eats away at a person until there is nothing left of them. Coffee has been shown to fight depression (Does Caffeine Reduce the Risk of Depression?). 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Wednesday, January 1, 2020

The On The Criminal Justice System - 984 Words

Garland (2001), view on â€Å"the criminal justice system in America was created to keep communities safe, to respect and restore victims, and to return offenders who leave prison to be self-sufficient and law-abiding. Treatment simply did not work either by therapy or broader social programs and became is a monumental failure that our states and nation can no longer afford† (p.61) Garland (2001) stated â€Å"that the collapse of faith in our correction system began a wave of demoralization that undermined the credibility of key institutions of crime control, for a period of the whole criminal justice system. He further emphasized that during the late 1970s and 80s; the demoralization influence of what David Rothman called, the failure model spread into most areas of criminal justice. Garland was influenced by the negative research reports and increasing crime rates by a pervasive sense of disillusionment and pessimism, because one institution after another was viewed as ineffective or counter-productive†. (p.61) Pollock (2006) in his book â€Å"ethical dilemmas and decisions in criminal justice† stated that â€Å"Our society today believed that many people repress their desires to commit offences. We therefore enjoy punishing others who are caught committing these crimes, but the questions then are do punishments help? People are still sentenced to death for the same crime that some have committed and faced death as the consequence for their crime. The view not only lacks support ofShow MoreRelatedJustice Systems And The Criminal Justice System Essay1248 Words   |  5 PagesThe criminal justice system is a complex and often uncoordinated system that operates by enforcing the law and seeking justice across countless jurisdictions. 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