Discuss the economic advantages and disadvantages that large Multi-National Enterprises (MNE’s) have in the hospitality sector compared to small business operators. You should discuss specific examples and relate these to economic theory where relevant.
Name Course University Course Instructor Date of submission A REPORT ON THE ECONOMIC ADVANTAGES AND DISADVANTAGES THAT LARGE MULTI-NATIONAL ENTERPRISES HAVE OVER SMALL SCALE OPERATORS IN HOSPITALITY SECTOR 1 .0 INTRODUCTION A multinational enterprise is a firm that has productive capacity in a number of countries . It may be composed of many countries coming together , under harmonized regulations to start the hospitality venture in the countries . The enterprise may also be established by foreign investors , who establish enterprises in many countries in accordance with the
Date of submission
A REPORT ON THE ECONOMIC ADVANTAGES AND DISADVANTAGES THAT LARGE MULTI-NATIONAL ENTERPRISES HAVE OVER SMALL SCALE OPERATORS IN HOSPITALITY SECTOR
1 .0 INTRODUCTION A multinational enterprise is a firm that has productive capacity in a number of countries . It may be composed of many countries coming together , under harmonized regulations to start the hospitality venture in the countries . The enterprise may also be established by foreign investors , who establish enterprises in many countries in accordance with the
countries ' laws . The profit and income flows that they generate are part of the foreign capital flows moving between countries . This is an outward approach to economic expansion . As countries adopt more open outward oriented approaches to economic growth and development , the role of multinational enterprises or transnationals corporations become more important (Hospitality and business corporate , 2008 . As local markets throughout the world are being deregulated and liberalized , foreign firms are looking to locate part of the production process in other countries where there are cost advantages . These might be cheaper sources of labor , raw materials and components or have preferential government regulation (Barnett and Muller , 1974 , pp . 8- 24
Hospitality refers to the relationship process between a guest and a host , and it also refers to the act or practice of being hospitable that is , the reception and entertainment of guests , visitors , or strangers , with liberality and goodwill . Hospitality frequently refers to the hospitality industry jobs for hotels , restaurants , casinos catering , resorts , clubs and any other service position that deals with tourists . This further implies that hospitality was in the past known as the act of generously providing care and kindness to whomever is in need . However , the contemporary man has exploited it as a business venture . Bernett and Muller (1974 ) say that there is a relationship between small scale ventures , large scale ventures and the theory of economics . Indeed , according to them , these three are important since they do correlate to a great extent (pp . 23-44 . However , as is the case with any viable business venture , proper planning , organisation and management is necessary for any organization to realise any profits and the same is true for the hospitality sector
2 .0 . MAIN BODY
We consider Hilton Hotel for a case study , to analyse the advantages and the disadvantages of Multi-national enterprises in hospitality . This is a UK- hotel that has numerous branches not only within London , but also in many countries globally . According to Thomas Keltner , Executive Vice President , Hilton Hotels Corporation Chief Executive Officer , there are ways in which large scale ventures in the field of hospitality portray more advantages than the small scale ventures . At the same time , the large multinational enterprises in hospitality have some disadvantages when compared to the small scale hospitality operations . The advantages or disadvantages , according to Thomas , may be experienced by the investor , the workers , or the residents of the concerned areas (Tourism and hospitality industry , 2006
3 .0 ADVANTAGES OF MULTI-NATIONAL ENTERPRISSES IN HOSPITALITY
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