Презентация «Forces affecting growth and change in the hospitality industry»
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FORCES AFFECTING GROWTH AND CHANGE The changes that are occurring now in the business environment are tremendous Managers must understand the various forces that are driving these changes and …
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Forces Affecting Growth and Change — Demand Many of the changes that are occurring are affecting demand for hospitality services One of the major factors that is affecting demand is the changing …
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FORCES AFFECTING GROWTH AND CHANGE – AGE We often hear that “The population is aging” but what does this mean? While it certainly means that each of us is getting older, it also suggests that the …
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FORCES AFFECTING GROWTH AND CHANGE – AGE One way that we can better understand demographics is by segmenting the population – in this case by age Baby Boomers were born between 1946 and 1964 Boomers …
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FORCES AFFECTING GROWTH AND CHANGE – AGE Generation X (or GenXers) were born between 1965 and 1975 Even though they have received a lot of attention of late, they only represent about 14% of the …
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FORCES AFFECTING GROWTH AND CHANGE – AGE Generation Y (or Echo Boomers) represents the children of the Boomers – those born between 1976–1994. The teenage segment of GenY alone represents 21% of …
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FORCES AFFECTING GROWTH AND CHANGE – AGE The hospitality industry is trying to adjust to these shifts in the population by creating niche markets for younger customers (who have greater discretionary …
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FORCES AFFECTING GROWTH AND CHANGE – RACIAL AND ETHNIC DIVERSITY Both the African-American and Hispanic segments of the population are expected to grow into the future (2050) The Asian-American …
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FORCES AFFECTING GROWTH AND CHANGE – WORKING WOMEN This is not new any longer but it is important to note how quickly things have changed in just a short amount of time Up until about 1940, fewer …
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FORCES AFFECTING GROWTH AND CHANGE – INCOME DISTRIBUTION The Middle Class (size and range) is often viewed as a proxy of the range of income distribution in society The Middle Class includes all …
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SUPPLY The notion of supply is important because without access to supply, the hospitality industry as we know it would cease to exist There are several key factors that concern us including land, …
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SUPPLY — LAND Land is an important consideration for several reasons: its availability, its cost, and what it produces (food) The availability of “good” locations is decreasing “Good” locations are …
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SUPPLY — LAND In general, land is becoming scarcer because (1) the prime spots have already been developed and (2) environmental pressures have resulted in certain zoning restrictions that prohibit …
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SUPPLY — FOOD Food supply concerns have always been present but they are of a different sort now and, more sever in some cases. Operators must consider: Seasonality Effect of weather Overfishing …
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SUPPLY — LABOR The Bureau of Labor Statistics (BLS) continues to predict increases in demand for labor, particularly for management positions, over the next 10 year period Lodging positions are …
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SUPPLY — LABOR Managers must also consider: Overall employment rate Immigration rates and restrictions Competition for workers among industry sectors Employee turnover – can exceed 100% in some …
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