Globalization, to me, meant the merging of the economic powers of the world to form one economy or at the very least, a financial network that is systematically combined throughout the world that provides more effective ways to handle currency, taxes, trading, etc. Furthering my research, I learned that Globalization encompasses much more than financial aspects · Reflection About Globalization. Good Essays. Words. 4 Pages. Open Document. Essay Sample Check Writing Quality. The term “globalization” is defined by the oxford dictionary as “the process by which businesses or other organizations develop international influence or start operating on an international scale” · Globalization is a very complex phenomenon, basically it means the relationship and connection between countries are getting closer, and they have more contact, politically and economically. Globalization has influenced the world in many
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Hospitality industry is considered as one of the fastest expanding sectors globally. This is largely due to globalization. Most companies were traditionally fixed to national boundaries until recently when advancement in among others, infrastructure and technology enabled further expansion.
This has brought about several changes in organizational structure of the industry. Moreover, the industry has had to adjust to changes in management and strategies. Most companies have resorted to joint ventures, franchising, FDI Foreign Direct investment and strategic alliances, among others, to achieve competitiveness. People of diverse cultures can now interact and work together for a common purpose, globalization reflection essay, irrespective of their social, political or geographical background.
Globalization has created a new edge in hospitality industry by opening up opportunities for investment. In addition, it has created a platform for technological exchange in various areas, including hotel industry. Hospitality industry is regarded as one of the fastest expanding sectors in the world. Moreover, it is also regarded as the center of globalization.
This is mainly because it is directly linked to tourism and development. Multinational businesses conduct research across the world to find regions with great prospects in their area of dealing.
This is globalization reflection essay accelerated by hospitality industry. Hospitality therefore, plays an integral role in globalization.
This has brought about countless benefits to global economy. However, several considerations have to be made before venturing in foreign countries. For instance, fiscal factors come into play when a business plans to expand beyond its borders. Another issue of great concern is the mode of training and employment.
The complexities involved have resulted in varying strategies and ownership methods. For instance, some hotels have resorted to globalization reflection essay, joint ventures and strategic alliances, among others to minimize costs globalization reflection essay comply with the regulations. Globalization has had various effects on hospitality industry.
These include exposure to cross-cultural influence, increased market area, complexity in management, advancement in technology, global economy, creation of jobs and creativity. Hospitality industry employs various skills, which range from accountants to engineers, among others. This exposes it to variety of cultures on an international stage. These people need to work together for a common goal.
It therefore puts pressure on management to ensure adequate training is provided for better service delivery International Monetary Fund,p. It is also important to note that hospitality industry opens opportunities for creativity and art. In this globalization reflection essay, various cultural artifacts get to be viewed.
Globalization in hospitality industry has provided me with opportunity to learn new languages, skills and ideas in hospitality and management. Moreover, cultural interaction has improved my interpersonal skills and experience, globalization reflection essay. Hospitality industry is regarded as one of the fastest expanding sectors worldwide.
This has opened globalization reflection essay opportunities for employment as well as enhanced organizational culture. It has also improved global economy and increased provision of international services. However, these benefits, among others have come at a price. For instance, managing expanded business at international levels has come with greater responsibilities and fiscal issues.
This has forced industries to consider new ownership and management strategies. In essence, globalization has improved cross-cultural interaction, economy and employment opportunities, among others Scribd Inc.
International Monetary FundGlobalization: IMF key Issues. Scribd Inc. Need a custom Exploratory Essay sample written from scratch by professional specifically for you? certified writers online. Reflective Globalization reflection essay — Globalization. We use cookies to give you the best experience possible. If you continue, we will assume that you agree to our Cookies Policy. Table of Contents. Introduction Globalization in Hospitality Industry Effects of Globalization in Hospitality Industry Conclusion Reference List.
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Globalization encourages integration between government, businesses and common people from all over the world, which is a product of interchanging ideas and mutual sharing of views. Globalization can also be defined as bringing the world together or connecting to the Reaction Paper On Globalization. Words5 Pages. Globalization contributes to the unique places and evolves in social relations. The world is a constantly changing place, but it is understood that it also keeps its uniqueness. Globalization focuses on cultural, economic, and political impacts on · Reflection About Globalization. Good Essays. Words. 4 Pages. Open Document. Essay Sample Check Writing Quality. The term “globalization” is defined by the oxford dictionary as “the process by which businesses or other organizations develop international influence or start operating on an international scale”
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