The paper "Feasibility Analysis of Tour Business, Accommodation, and Restaurant Businesses" is a wonderful example of an assignment on business. There is a great demand for a tour business, accommodation, and restaurant businesses in this area. There is a great business opportunity that can make a difference in organizational performance through the demand contribution in the long term through the demonstration of the highest level of potential. There is systematic attraction, development, engagement, identification, and availability of resources in terms of equipment, cost-wise, and human capital. These will add high potential and particular value to the business as Peeters et al. , (2006) adds.
Another trend in this business that I am very keen on is the pricing of the first-generation products. This will provide the business with opportunities because there is no stiff competition. The current trend is very promising because of unexploited opportunities. There exists a great opportunity for growth and expansion as well. Social structural, demographics and socio-cultural developments will lead to changes in the demand of these services and this will provide the business with a huge opportunity to adjust and define how tourism, restaurant, and accommodation business is provided to the clients (Kwag & Lee, 2009).
They will also intensify the public awareness of these businesses and hence make the industry to boom in the increase of customers and consequently increase in revenues. On the contrary, the existing business in the tourism and hospitality industry has demonstrated latent vulnerability and therefore their survival depends decisively on the luck rather than setting appropriate and relevant business practices. This is a huge opportunity for this business to demonstrate to the other businesses in the hospitality industry how to conduct business on the basis of viable and fruitful business practices as Lellinger (2009) acclaims. This business will provide unique and outstanding services to customers; it will demonstrate consistency in quality and excellence in the provision of services as Rixen et al. , (2011) emphasize.
This will enable the business to report profitability in providing value at different price levels while demonstrating its unique and own points of distinction. In essence, the current trends in this industry are globalization, security and safety, diversity, service, technology, demographic changes, and price value.
Aguinis, H., & Kraiger, K. (2009).Benefits of training and development for individuals and teams, organizations, and society. Annual review of psychology,60, 451-474.
Avcikurt, C., Altay, H., & Ilban, M. O. (2011). Critical success factors for small hotel businesses in Turkey: an exploratory study. Cornell Hospitality Quarterly,52(2), 153-164.
Barron, P. (2008). Education and talent management: implications for the hospitality industry. International Journal of Contemporary Hospitality Management, 20(7), 730-742.
Barut, M., & Sridharan, V. (2005).Revenue Management in Order‐Driven Production Systems. Decision sciences, 36(2), 287-316.
Bernardin, H. J., & Wiatrowski, M. (2013).Performance appraisal. Psychology and Policing, 257.
Breaux, T. D., Antón, A. I., Boucher, K., & Dorfman, M. (2008, September). Legal requirements, compliance and practice: an industry case study in accessibility. In International Requirements Engineering, 2008.RE'08. 16th IEEE (pp. 43-52). IEEE.
Brotherton, B. (Ed.). (2012). International Hospitality Industry.Routledge.
Brown, M., & Heywood, J. S. (2005). Performance appraisal systems: determinants and change. British Journal of Industrial Relations, 43(4), 659-679.
Capó Parrilla, J., Riera Font, A., & Rosselló Nadal, J. (2007). Accommodation determinants of seasonal patterns. Annals of Tourism Research, 34(2), 422-436.
De Loecker, J. (2011). Product differentiation, multiproduct firms, and estimating the impact of trade liberalization on productivity. Econometrica, 79(5), 1407-1451.
Deakin, S. F., & Morris, G. S. (2012). Labour law. Hart publishing.
DeHoratius, N., Mersereau, A. J., & Schrage, L. (2008).Retail inventory management when records are inaccurate. Manufacturing & Service Operations Management, 10(2), 257-277.
Dwyer, L., Edwards, D., Mistilis, N., Roman, C., & Scott, N. (2009).Destination and enterprise management for a tourism future. Tourism Management, 30(1), 63-74.
Erdogan, B., & Bauer, T. N. (2005).Enhancing career benefits of employee proactive personality: The role of fit with jobs and organizations. Personnel Psychology, 58(4), 859-891.
Erfurt-Cooper, P., & Cooper, M. (2009). Health and wellness tourism: Spas and hot springs. Channel View Publications.
Goedertier, S., & Vanthienen, J. (2006, January). Designing compliant business processes with obligations and permissions. In Business Process Management Workshops (pp. 5-14).Springer Berlin Heidelberg.
Hjalager, A. M. (2010). A review of innovation research in tourism. Tourism management, 31(1), 1-12.
Holcombe, R. G. (2009). Product differentiation and economic progress.Quarterly Journal of Austrian Economics, 12(1), 17-35.
Knox, A., & Walsh, J. (2005). Organisational flexibility and HRM in the hotel industry: evidence from Australia. Human Resource Management Journal, 15(1), 57-75.
Kwag, H. M., & Lee, E. (2009).Analysis of the Asian cruise industry and its future implementation.In Cruise Sector Growth (pp. 17-29).Gabler.
Law, R., Qi, S., & Buhalis, D. (2010). Progress in tourism management: A review of website evaluation in tourism research. Tourism Management, 31(3), 297-313.
Lellinger, T. (2009). How important is Web 2.0 for the tourism sector and how can the industry apply to this trend?.
Michalski, G. (2008). Value-based inventory management. Value-Based Inventory Management, journal of Economic Forecasting, 9(1), 82-90.
Michalski, G. (2009). Inventory management optimization as part of operational risk management. Economic Computation and Economic Cybernetics Studies and Research, 213-222.
Middleton, V. T., & Clarke, J. R. (2012). Marketing in travel and tourism.Routledge.
Murphy, P. E. (2013). Tourism: A community approach. Routledge.
Peeters, P., Gossling, S., & Becken, S. (2006). Innovation towards tourism sustainability: climate change and aviation. International journal of innovation and sustainable development, 1(3), 184-200.
Raybould, M., & Wilkins, H. (2005). Over qualified and under experienced: turning graduates into hospitality managers. International Journal of Contemporary Hospitality Management, 17(3), 203-216.
Rimmington, M., Williams, C., & Morrison, A. (2012). Entrepreneurship in the hospitality, tourism and leisure industries.Routledge.
Rixen, C., Teich, M., Lardelli, C., Gallati, D., Pohl, M., Pütz, M., & Bebi, P. (2011). Winter tourism and climate change in the Alps: an assessment of resource consumption, snow reliability, and future snowmaking potential.Mountain Research and Development, 31(3), 229-236.
Sit, W. Y., Ooi, K. B., Lin, B., & Chong, A. Y. L. (2009). TQM and customer satisfaction in Malaysia's service sector. Industrial Management & Data Systems, 109(7), 957-975.
Solnet, D. J., Baum, T., Kralj, A., Robinson, R. N., Ritchie, B. W., & Olsen, M. (2013). The Asia-Pacific Tourism Workforce of the Future: Using Delphi Techniques to Identify Possible Scenarios. Journal of Travel Research, 0047287513513163.
Stevenson, W. J., & Hojati, M. (2007). Operations management (Vol. 8). Boston: McGraw-Hill/Irwin.