Environment and its Influence Reyes, Ilagan, Acabal, Dicen R. & Cabrera TABLE OF CONTENTS
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The Immediate The Five Forces The Dynamics of Environmental
Business or Task Model Competition and Scanning and the environment Strategic Groups Hospitality /Tourism Firm The Immediate Business or Task environment The Immediate Business or Task Environment in hospitality management refers to the micro- level factors and elements that directly impact the daily operations and decision-making within a hospitality establishment. This environment includes aspects such as customers, employees, suppliers, competitors, and local regulations. The Five Forces Model
The five forces model, originally
proposed by Michael Porter, plays a crucial role in the field of hospitality management. This model helps businesses in the hospitality industry to analyze the competitive forces at play in their environment. These five forces include the threat of new entrants, the bargaining power of suppliers, the bargaining power of buyers, the threat of substitute products or services, and the intensity of competitive rivalry. The Dynamics of Competition and Strategic Groups
The dynamics of competition
encompass the ongoing and evolving interactions among businesses in a market. This includes competitive moves, responses, and adaptations influenced by various factors. Within this landscape, strategic groups emerge, representing sets of companies with similar strategies and competitive positions. The Competitive Dynamics Model offers insights into understanding these interactions and the strategic behaviors within an industry. Environmental Scanning and the Hospitality /Tourism Firm
Environmental scanning in the
context of a hospitality/tourism firm involves monitoring and analyzing external factors and trends that can impact the industry. This proactive approach allows the firm to anticipate changes, identify opportunities, and mitigate risks effectively. THANK YOU FOR LISTENING!