The Contemporary Hospitality Industry Assignment - 1

The Contemporary Hospitality Industry - Assignment Example Since then things have changed to a great extent and to comply with it changes hospitality industry has witnessed significant amount of developments. The industry which functions today in the marketplace is quite different from the one that used to operate during the early days. Currently, the hospitality industry is dubbed as one of the growing industries of the world and is characterized as dynamic. The hospitality sector is a bigger term and encompasses a large number of industries within itself (Clark, Hartline and Jones, 2009). For example, catering industry, hotels and a certain segment of the service industry falls within the hospitality industry. In addition, the tours and travel industry also falls into this sector. After the liberalization of the world economy, the industry has witnessed booming growth. Furthermore, efforts by respective governments have greatly helped in promoting hospitality industry and to add to that steady growth in the tours and travel industry facili tated the overall growth of the hospitality sector. Hence, it is evident that presently hospitality industry operates on a large scale and scope and along with that encompasses a huge diversity (Brownell, 2009). Figure 1 – Hospitality Industry share (Source: Sykes, 2011) The diagram above clearly shows that the industry is presently witnessing a steady growth and it is expected that in the next few years the rate of growth will actually double. Analysts predict that if the tours and travelling industry grows, other industries such as hotel will grow parallel with it (Ellis and Stipanuk, 1999). Hence, it can be concluded that with better marketing efforts, quality services and better customer service it is obvious that the industry will grow at a robust rate. If a comparison with other industries is carried out, many differences can be identified. However, one of the most evident one appears in the form of organizational structure. Every company belonging to the hospitality se ctor, irrespective of their size and complexity embraces an organizational structure that enables the organization to carry out daily operation. Usually, such companies employ a large number of people with a variety of skill sets, yet this diversity of the workforce is organized in different ways. In general, companies belonging to this sector follow functional organizational structure where the organization embraces separate department for each specialized activity. This increase the operational efficiencies of the company and at the same time allow them in providing high rate of satisfaction to the customers. Below is an example of the typical organizational structure followed by the hotel industry. Figure 2 – Organizational Chart (Source: Hotelmule, 2009) A review of the organizations and professional bodies in the hospitality industry Every stakeholder group has certain functions of the organization that helps an organization to operate efficiently in the marketplace. A s takeholder is a person, a group or an organization that can be affected or can affect the action of an organization. A stakeholder of a firm can be its suppliers, business partners, employees, consumers, lenders, investors, shareholder as well as the government. Each of this group somehow plays proactive roles in running the daily operation of a firm. However, the roles and responsibilities depend upon the degree of association. For example, a manager’s role is considered as vital in driving customers and ensuring a high level of customer