Global Strategy International Management †Myassignmenthelp.Com

Question: Discuss About The Global Strategy International Management? Answer: Introduction: The hospitality industry is fastest growing and prospering with the juncture in India. It is continuously evolving itself to challenge on a global level. With the economy advancing in India, India is progressively becoming the very sought after business and tourist destination. Because of the very characteristics of hospitality as a core service industry, its efficiency management and excellent operation rely greatly on the standard put forward to the customers or travelers (Jana and Chandra 2016). The challenges in the hospitality sector are also rising with its growth and the demanding customers. This advancement will require to be serviced by a considerable expansion in infrastructure facilities, including road, rail and air connectivity as well as accommodations and lodging. Superior quality of services is significantly crucial in experiencing long term goals and objectives, since success is set on not only by competitiveness of price but also by the standards of the services off ered (Bharwani and Jauhari 2013). This paper develops the challenges and limits relating to the threats encountered by the hospitality industry and also advised the suggestions to refill the gap. On the basis of these the Indian hospitality industry requires to be encased better and one requires shifting away from the biased established attitudes that the hospitality industry has been connected with in the long ago. Standard in the hospitality sector and tourism sector engages constant superior offering of guest services and products according to desired standards. A superior quality service is one of the key threats to the accommodation services and hotels will be encountering in the succeeding years as it is a vital condition for achievement in the evolving, intensely competitive, international hospitality sector. Porter's generic strategy and resource-based and industry-based analysis Porters generic strategy refers to cost leadership, differentiation and focus. These are the three elements for any organization firms has spearheaded competitive strategy in the corporate world .Based on the porters generic model an organization can opt the procedure on it desires to compete, based on the rivalry among its kind of target market , competitive advantage and unique proposition, as the prime factors of selection . Porters generic strategy methodology stays one of the important procedures in the strategic management and any type of industry. A business can enhance efficiency either by thriving to be producer of the low cost in a sector or industry or by differentiating its core or line of goods or services from other competitors. These two different propositions can be guided by an array of organizational intention on an approached segment of the target market (Vij and Vij 2016). Any company that fails to take a decision related to strategy to select for one of these pro cedures is in crisis of being only partly completed. The firm in failing to take a decision, attempts to both to be the differentiator or cost leader gains neither, and in the further method puzzles consumers. Cost Leadership Strategy in the hospitality industry: Cost Leadership Strategy of Porters generic model within the Indian Hospitality Industry is based on a corporate arranging and handling its value proposition and value adding activities be the lowest cost producer in a certain industry. A quite successful porters generic cost leadership strategy is basically to rely on a number of parameters in the organization. Achievement of a rank of cost leadership relies on the preparation of activities of value chain. The capacity of cost leaders signifies that they try to deliver a greater percentage of the total target market. Companies following a low-cost strategy will generally engage one or more of the following elements to establish their low-cost ranks in the industry. Accurate forecasting of demand blended with highest capacity maximization, greater economies of scale, technological advancement and exploitation, outsourcing, experienced or learned effects ( Harrington, Chathoth, Ottenbacher, and Altinay 2014) Many organizations would p oint at the idea that they are following a leadership strategy in low-cost segment. Rather, they visualize their organizations as following some kind of harmony amid differentiation and low-costs . Banyan Tree must realize the facts before entering the hospitality industry in India, which segment they want to exploit. Management in this hospitality is very better at keeping costs at a lowest margin based on the seasonal demands. Consequently hoteliers keep low prices and get attention to a broader division of the market attentive in an inexpensive and cost effective room. Differentiation Strategy within the Hospitality Industry A differentiation strategy is relied on insisting customers of the hotel that a service offering is much more superior in a way to that provided by rivals. The focus in differentiation is on establishing value via uniqueness, as differed to lowest cheaper cost. Uniqueness can be attained through innovations in services, superior quality, innovative advertising, and superior relationships with the suppliers encouraging to high quality services, or in an almost numerous number of paths. The key to getting success is that the customers must be willing and able to shell out for the uniqueness of a service than the firm invested to create it. Firms pursuing a differentiation strategy can cost a greater price for their offerings. The differentiation strategy attracts to a knowledgeable or sophisticated customers interested in a unique or product quality. The Banyan tree hotels and resorts are focusing a differentiation strategy in Singapore and Bangkok by providing very superior-quality qu est experiences that attract to both business and personal travelers. Currently the hotels are providing Wi-Fi as a tool for differentiation. Focus Strategy within the Hospitality Industry A focus strategy is focused at a sector of the target market for a offering rather than at the mass market. Firms following focus strategies must to be able to recognize their target segment and both evaluates and meet the desired needs and needs of buyers in that market segment better than any other competitor. Focus strategies can be relied on differentiation or lowest cost. There is much arguments as to whether or not a firms can have a differentiation and low-cost leadership strategy at the very same moment. It is debated that a focus strategy stressing on lowest cost is unique in the hotel industry as it is difficult to satisfy a singular guest segment without some form of differentiation. One can recognize many examples of organizations in the hospitality industry that are following a focus strategy based on the differentiation advantage. For example, Four Seasons emphasizes on affluent and highly rich segment consumers with discriminating needs and the Banyan Tree could follow that. As for example a fort shaped hotel created on a man-made island is targeted at members of royal families as well as celebrities and wealthy industrialists and visitors. Overview of Banyan Tree Banyan tree positioned itself as a branded paradise in the global market. From the very beginning Banyan Tree Hotels and Resorts has emerged as one of Asias one of the most achieved hospitality brands with various international awards and rewards from publications like the prestigious Cond Nast Traveller and others from 1992 (Banyantree.com, 2017). Banyan Tree is one of the vibrant chains of hospitality market in Asia and privately held boutique hotels in luxury segment and resorts. By successfully blending its concern related to environment with the unique proposition. Asian culture and heritage and the idea of personal or customized villas in luxury segment providing a theme based user friendly experience, Banyan Tree has prospered as one of the market leaders in the tourism and hospitality segment. Banyan Tree desired to escape being overrun by very cheaper competitors from China and Indonesia, on the one hand, and to take the attention away from difficult competitive pricing, on the other (Banyantree.com, 2017). These have been the significant threats for several businesses in Asian hospitality sector trying to rival in the new environment and establishing competitive advantages. It tested to be a successful way of breaking away from an Asian commodity business and changed the focus onto higher value-added revenues. The brand is led by a centralized team headed by corporate management and its promise, illustrated in the tagline Sanctuary for the senses, is delivered throughout the organization as part of a dedicated business strategy centered around branding. The Banyan Tree company manages fifteen hotel resorts, thirty five spas and two golf courses in twelve countries, with the headquartered in Singapore. The company is a better instance of the significance of business managements engaged in creating, investing and driving the Banyan Tree brand and all the activities related to branding. Background The majority of Banyan Tree is owned by Singapore-based Ho Kwon Ping, who named the brand after a place in Hong Kong where he and his wife spent idyllic days when he was a reporter and editor for an Asian magazine (Banyantree.com, 2017). He returned to Singapore after his father fell ill. As the eldest son, he had to take on the responsibility of the family business and run it. After a while, Ho Kwon Ping was looking for a new idea to take his fathers family-run business, the Wah Chang Group, ahead and away from the traditional revenue streams into different areas, spanning property to manufacturing (Banyantree.com, 2017). In 1994, the couple opened the first Banyan Tree resort in Phuket, Thailand, with some investors and Ho Kwon Pings brother as the architect. There it began the trademark pool villa concept, which was an innovation at that time and became one of the signatures of the brand. Today, the private pool villa concept has proliferated to other resort groups and is used as a benchmark in the hospitality industry. Conclusion: The report concludes that Banyan Tree should first focus on the generic strategies to understand the Indian hospitality market because there are several players like Taj hotel, Marrott to cater to the rich or highly affluent segment that are following the market scheming prices to attract the business travelers or theme based customized services. Management and marketing team of Banyan Tree must not emphasize entirely on a single array of strategic decisions that pursue a generic strategy. Instead, It should recognize it efficient and useful various ways to tap Indian market because it is highly diversified. It must focus on each and every practice that defines a strategy. Marketing ideas must be as innovative and attractive as possible when it comes about promoting strategies as uniqueness can help to foster a competitive advantage over a greater period of time. 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