Designing:

It is the process of formulating a future course of action. Designing helps to determine the pathway and potential changes required to achieve goals.

It helps the manager to identify the requirement of resources. It also helps identify the employee’s goals and necessities, which can help frame the motivational plans for employees.

Arrangement:

It is the next step an organization performs after designing.

It is the organization, human and non-human resources working together in a coexisting manner.

Organizing helps in the delegation of authority and allocation of resources. It helps in the optimum utilization of resources.

Recruiting:

It is the process of recruitment of eligible human resources for the various positions in an organization.

Managers go through a process to find the best suitable employee for the organization.

Staffing process:

Recruitment

Selection

Placement

Training & Development

Remuneration

Performance Evaluation of employee

Transfer

Administrating:

It is the part of management functions that puts the goals into action. Administrating collects the above three functions and deploys them to one common goal.

As the name suggests, administrating directs the pathway by putting things to action. The manager uses leadership, motivation, communication, etc. It helps to guide the employee.

Supervising:

It is the time to have the real test of all the hard work the organization had done earlier. Supervision measures and correcting if needed. It ensures that things are working as per the plan. It identifies the deviation and helps in achieving the goal.

Understanding the customer needs:

The organization’s motive is to create a product that suits their targeted audience. customers tend to demand certain products per their needs.

An organization with a plan to survive and earn want their product to meet the customer requirements.

Customer demand shows no pattern as it changes with certain factors like seasonality, taste and preferences, price of substitute goods, and many more.

One of the crucial factors for customers’ demand is price.

Price and demand are inversely related to each other.

The more the price is, is less likely it is that a large audience will buy the product. Companies should consider the price sensitivity e of their targeted audience before pricing their product.

Vertical Amalgamation:

The organizations give the utmost significance to vertical amalgamation while preparing the production process.

Vertical amalgamation is the procedure of taking ownership of every step of the product from production to distribution.

It helps the organization To have control over everything and not to rely on others.

For example, a mobile manufacturing company is producing every component of the mobile in their factory rather than purchasing the parts from different distributors and assembling them in the factory.

It helps the companies to take over the responsibility e of the quality of the product and may reduce the extra cost of purchasing the component from third-party sellers.

The degree of vertical integration is an industry-oriented activity.

Vertical integration suitable for one organization may not necessarily be apt for the other.

Organizations need to have an overlook on to which extent they can integrate for their product line.

Customer needs:

 Organizations use CRM to learn more about customers’ needs and behavioral characteristics to develop strong relationships. 

The most important feature of an organization look for is to bring together all the information, not only about customers but also about sales, marketing effectiveness, and trends.

Organizations also emphasize on making a good relationship with channel partners, employees, and stakeholders.

 The market is mature now, so do customers, and the introduction of globalization is increasing the trade among customers and companies on the international level.

Well-organized manufacturing and the inclusion of the Internet have completely changed the competitive scenario.

From a customers’ point of view, it all started with price and product differentiation. They want extra benefits.

What they are getting with that product as value-added is the deciding factor for the customer to purchase a product.

Presently, Organizations that want to develop a relationship are the most promising factor for the simple reason that the relationship is in a prime position in the competitive area.

After implementing the strategies, an organization should target an absolute win-win situation for customers, stakeholders, and employees. 

These situations also exist in the hospitality sector.

The hospitality sector also includes Hotels, cruise liners, Resorts, Health Spas, and clubs.

The marketing expertise of large firms has created a competitive environment with this top-notch competition.

Most of the big players are taking a step further. 

A customer is not happy with a generic product. Companies need to go beyond the expectations of the customers.

Companies have to increase the value of products along with the value-added services.

There was a time when companies used to be property-centric, but now they are moving towards customer-centric strategies. The hotel industry is fast adopting the latest technologies.