Critically Evaluate the Competitiveness of the International Essay

Critically Evaluate the Competitiveness of the International Hospitality patience in the Context of Globalization - Essay ExampleThe advancements in information technology need make it more convenient for hotels, restaurants, and the hospitality labor to gain access to a wider audience and a wider consumer base. With these considerations, this stem shall critically evaluate the private-enterprise(a)ness of the international hospitality industry in the context of globalization. A reciprocation on the globalization drivers shall first be laid out followed by a discussion on the following aspects the bushel of globalization, impact of transnational companies and multinational companies and deregulation, impact of globalization on SMEs, taxation and economical leakage, inequality in globalization, and the future of the hospitality industry. Body Globalization drivers The competitiveness of the international hospitality industry in the context of globalization is impacted by diffe rent factors. One of these factors accommodates the globalization drivers, which atomic number 18 mainly, appeal, market, government, and competitive drivers. Market drivers for globalization are very much based on common customer needs, and are also based on global market channels and global customers (University of Kentucky, n.d). The strength of market drivers are evaluated from a range of multidomestic markets to the global market. For example, the market for specific foods or cuisines would likely find greater winner in the local or domestic setting however, the market for automobiles, computers, and hotels, fast food chains stool be high on the global scale (University of Kentucky, n.d). Cost drivers are also drivers for globalization and acknowledge elements which relate to global-sized economies, including source efficiencies, production differences, high production development costs, as well as apace shifting technologies (Jager, 2009). The Science Initiative Group I nstitute for Advanced Study (2007) discusses that globalization is driven by cost which is largely based on the economic conditions of organizations. The persistent pressures on the economies of scale, advances in technology, and increasing cost of product development are factors that are relevant in this grouping (Summers, 2005, p. 284). The emergence of innovations adapted by those involved in the hospitality industry determines the costs incurred, and thereby impacts significantly on the call for globalization. In this case, advances in the manner of doing business, including internet availability and advertisements impact on trade costs, prompting other business community in the hospitality industry to consider these same innovations (Whitla, Walters, and Davies, 2007). The actions of these drivers are based on other competitors (Summers, 2005). Elements which include increased world trade, new global markets, growth of global economies, and the increased number of competitors all impact on this driver, triggering considerations of globalization (Summers, 2005). Increasing competition among corporations and businesses in the hope of winning over customer phthisis preferences has also prompted many corporations to improve the marketability of their products. Current trends in most products include the digitalization trends, where most products have now shifted towards digital versions