It is the nature of all business to maximize their respective economies of scale to an extent of going from local to international markets. It is worth noting that even while maximizing the level of productivity of the business as the cardinal objective of all enterprises, the production of quality, safe, healthy and reliable goods and services is their unmentioned obligation. In this study, the relationship that exists between business management, service management, value and revenue management and resort management will be discussed ideally to the satisfaction of the reader.
Under business resort management, what comes as the core objective is, of course, enjoying marginalized levels of profits. There are several methods that profit can be heightened without necessarily having to constraint consumers. For example, during the initial processes of production, the cost of all expenses can be cut down through product diversification. Diversification of products has the power of utilizing all the available resources that a business has prior to coming up with a finished product (Bennett, 2015). Additionally, when the new products are ready to get into the market, chances are that when consumers reject one, they can gladly accept the other.
The second objective of resort management is to develop an attractive product. According to business, one of the greatest techniques that successful entrepreneurs use to beat competition that emanates from the threat of entry of new firms and those that were already in existence is product promotion. Designing a unique and quality commodity or service has the power of attracting more consumers since everyone in the current prorate world wants to go for the most recent and most fitting taste. Moreover, being able to adapt to the new tastes and preferences of consumers of different goods will do the business more justice than harm.
The third objective under resort management is developing a skilled and alert workforce. In the set of codes of conduct of being great employees, all personnel is usually advised to develop great work presence such as displaying the ability to work well with others. This is contained under the principle of teamwork. Honesty and respecting each other at all times during and off from work is another critical attribute that all employers would want to see in their employees (Castelluci, 2016). Most importantly, loyalty and provision of quality goods and services form the backbone of a skilled and attentive workforce. Being in a position to respond to a client’s needs in time and as requested by the specific client is what determines the professionals from the goofy ones.
The final goal of business resort management is the desire to be a sustainable business entity. Wise men have it that everyone dreams of achieving success but only a handful will wake up and demonstrate all that they seek to attain by the end of every financial period. In resort management, claiming a sustainable business entry is simple but the hardest task comes in bringing into practice all the theoretical concepts of achieving success. According to Daniel Goleman, one of the greatest attributes of being a great leader is setting achievable goals and making strategic moves on how best to achieve the set goals. In other words, when the leadership of a resort set achievable goals, chances of attaining his goals run high.
The role that business management plays in ensuring that resort management achieves its set objectives is the coordination of all human resource personalities. Business management specializes with the role that human resource management has to play in the general productivity of the business. An analysis of this will reveal that resort management needs to hire qualified employees that have depicted the most desirable traits of a great workforce that can work well in the prevalence of team spirit (Johnston, 2012).
In other words, the purpose of business management is to hire and fire. It is prudent to note the fact that of all the objectives that business resort management has, the only one that business management is concerned with is the acquisition of a skilled and attentive workforce. In the service industry, the knowledge that each personnel has is what will determine the level of job position that he or she will occupy (Laudon, 2013). The more skilled an employee turns out to be, the higher his chances of securing a job promotion each financial year. Ideally, a steady and reliable workforce increases the chances of the business in enjoying maximized economies of scale.
The ideologies or rather principles of service management uses are more or less the same as those of business management. The only difference between the two is that the former specializes on the human resource department while the latter dwells on the relationship that exists between the business and the outside world. Establishing a business entity that is devoid of any customer relations will reduce the capability of the business to improve its level of productivity (McCrea, 2013). Once this happens, chances of the business running under cannot be overruled.
On that note, the objective that service management helps business resort management to attain is ensuring that it becomes a household name. According to a business perspective, a household name is more like a reliable source of whatever content is being offered. On this note, a sustainable operation would suffice just as well. As mentioned in the previous sections of this study, coming up with unique and quality commodities and services is one of the surest ways of achieving sustainable operations. Additionally, trying as much as possible to stay within the jurisdictions of the law is another way to determine the legality and authenticity of the business.
The relationship between resort management and revenue management is told during the stage of price determination. For most firms that might be trying new entries in already existing markets, being able to keep to terms with the competition, threats and demands might be a dreaded nightmare (Norman, 2013). This is where the idea of value and revenue comes into question. The two will work hand in hand to determine the approximate value that a given service needs to go based on the preparations that were put in place to ensure that the specific service got the most desired feedback from a consumer. The same applies to all goods while paying attention to all the costs involved prior to coming up with the finished product. That being mentioned, it can be deduced that the goal that this prospect helps business resort management to achieve is making maximized levels of economies of scale.
Bennett, B. (2015). The Business Plan. New York: Lulu.com.
Castellucci, F. (2016). The dynamics of position, capability, and market competition. Industrial and Corporate Change. London: Laudon
Glachant, J.-M. (2011). Competition, Contracts and Electricity Markets: A New Perspective. Chicago: Edward Elgar Publishing.
Johnston, R. E. (2012). The Power of Strategy Innovation a New Way of Linking Creativity and Strategic Planning to Discover Great Business Opportunities. New York: AMACOM.
Laudon, K. (2013). E-commerce: Business, Technology, Society. Boston: Addison Wesley.
Meiners, R. E. (2014). The Legal Environment of Business. 7th ed. Cincinnati, Ohio: West Legal Studies in Business.
McCrea, B. 2017. Developing an Effective Business Plan. London: DigitalPulp Publishing.
Norman, G. (2013). Market Structure and Competition Policy: Game-Theoretic Approaches. Cambridge: Cambridge University Press.
Rosen, A. (2015). The E-commerce Question and Answer Book a Survival Guide for Business Managers. New York, N.Y.: AMACOM.
Tirole, J., 2012. Overcoming adverse selection: How public intervention can restore market functioning. New York; The American Economic Review
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