Hotel Franchising
Posted by admin in Franchising on November 15, 2011
Hotel franchising is a very popular concept. Hotel franchising includes the franchising of hotels, motels, inns, and other forms of lodging and boarding. Hotel franchising includes a lot more technicalities compared to restaurant or fast food franchising. Hotel franchising leads to hotel chains appearing in various parts of the world.
Franchising in the hospitality industry requires a lot of research and conscientiousness from the franchisee’s end. The franchisee must be very through and attentive while going through the initial process with the franchiser’s agents.
Hotel franchising is an expensive business. The franchisee must be able to bear all the initial costs that might arise during the setup takes place. The franchiser needs to be checked out thoroughly before entering into any agreement because the hotel’s reputation, both past and the present, needs to be considered.
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What It Takes To Succeed In Entrepreneurialism
Posted by admin in Entrepreneurialism on November 14, 2011
At a glance, it probably looks really easy to be an entrepreneur. All it takes is an idea to start a business and the drive to keep it running. Although these are both true, there is actually way more to the entire feat that most people do not consider. Organizing a working business that provides opportunities for other people as well as create profit for maintenance and possible growth is a hard thing to do.
It is important for someone who wishes to get a chance in the competitive business world to have the right kinds of qualities that do not only make a business possible but completely a success. Here are some of these entrepreneurial qualities.
1. Believe in Oneself – Starting a business is a risky and tough thing to do. One should have ample, if not overflowing, confidence in one’s capacity to organize everything and handle all the details to ensure success sooner or later. The goal of the business should not stop at merely existing but on being successful and profitable.
2. Be Open to Change – The only permanent thing in the world is change, especially in entrepreneurialism. One should be flexible and open to the changes that can come along. There are times when things are simply not working due to one reason or another. An entrepreneur should realize when to let go and move on to something else for a higher rate of success.
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Change Management Models
Posted by admin in Change Management on November 12, 2011
The secret of consistent success lies in the change that should be introduced according to the time and this is the basic concept of change management. Along with the rapidly changing environment and culture throughout the globe, it becomes a must for every business organization irrespective of its size and industry to adopt the change to survive in the world of cut throat competition. The organizations that accept the change will exist and those that don’t accept, will keep on struggling to survive with the change. This concept has become common among the business firms, but how successfully these changes are implemented and accepted depends on many factors like nature of the firm, type of change, the people involved in it and their understanding of the change. Though initially, change is not welcomed because we generally overestimate what we have and underestimate the good things that change would bring to us. To understand the changes in the organization many change management models have been developed by many social scientists. Let me explain to you what is change management with the help of some models.
Models of Change Management
Krut Lewin’s Change Management Model
Krut Lewin developed his model on change management way back in the 1950s and it is applicable in today’s environment for managing business change. The model works on three levels: Unfreeze – Change – Refreeze. The change in an organization has been explained using an analogy of an ice. If you want to make a conical ice shape out of a cubical shaped ice, what do you do? You will first melt the conical shaped ice and then freeze it in cubical shape mold to get the desired change. This same concept has to be applied on the change in an organization.
Lewis change management model says that while dealing with change, the process must begin with the understanding of the change like why and what kind of change is required. This starts with unfreezing that needs preparation in the organization according to the changes required and involves demoting the present status quo to establish the new one. This is the most difficult stage to handle. This can be done by challenging the current status, beliefs and behavior by referring to the current figures and results and at the same time projecting the future plan. The changes would not occur overnight, it needs time, patience and above all understanding. So, give time to the members of the organization to understand and accept the changes. Though there are some people who might not be benefited with the change at the moment, but they have to realize that it would better the condition in the future. Once the change has been embraced and accepted by all, then the time has come to refreeze the change. The refreeze means, stability in the organization, working environment, employees being confident about the change and comfortable in the new working environment.
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