Role of Stakeholders Orientation in Hospitality Industry: Reflective Paper Assessment Answer
1. Introduction to the chosen industry:
Business plays a crucial role in the wealth of nation and it is the key driver of socio-economical and cultural bonding. Managing stakeholders is the key deliverable of success measurement of the business organization. In this task, I will make an attempt to revel my opinion and knowledge on the higher purpose of stakeholder orientation in the workplace for better business opportunity achievement. I think that managing stakeholders in the hotel is a very important portion of business management. As an HR manager of the hotel, I have chosen the hospitality industry to find out the role of stakeholders orientation in the business. Being a human resource manager in the hotel the analysis on the topic allow me to find out the reason and importance of stakeholder orientation in the company.
2. Reason to choose this:
I have chosen the hospitality industry for this project I have some experience of working in the hotel. Therefore, the project on the stakeholder orientation in the hotel industry has a beneficial impact to develop my understanding of the process of operation. A higher purpose of stakeholder orientation is to improve the opportunity level of the business (Scobie, 2015). Based on the current situation of the hospitality industry in the market, it can be said that Conscious capitalism is an evolving paradigm for the business that creates multiple kinds of value by stakeholder engagement. Based on the business management approach in the current situation, and organizational value can be created by the stakeholder engagement in the company that can be created in the business.
3. Are you working in the industry:
I am working in the hotel as human resource managers for the last 2 years. In my working period, I have experienced that the management approach in the company is based on focusing on the priorities and empowerment of the stakeholders. In the hotel industry, the main stakeholder is the employees, and stakeholders (Hormann, 2018). Therefore, managing stakeholders and the empowerment of the stakeholders is based on the evaluation of their demand assessment. While working in the company, I have found that stakeholder engagement in the hotel is followed through the demand assessment strategy. This strategy mainly provides insight into many thoughts such as decentralization, empowerment, and collaboration.
4. Higher Purpose and Stakeholder Orientation:
As per my understanding and personal experience, the term higher purpose and stakeholder orientation are divided into two terms higher purpose and stakeholder orientation. Organization to manage and measure two purposes has to take many activities. I have understood that higher purpose goes beyond the profit generation and managing harmonization in the business sector. I have understood that higher purpose in the business creates an extraordinary degree of engagement and commitment among the stakeholders (Mackey, 2011). In the hotel industry, purpose comes from the evaluation and analysis of understanding the situation. In the case of strategy formulation, I need to evaluate the overall situation for determining key objectives. As per my understanding, it can be said that, while a company goes for a higher purpose of management, the key initiative is to make preferable situation assessment.
I have understood the stakeholder orientation process from my class note, which shows the entire management process of the business. In the hotel industry, stakeholders are entitled to the most important art in business. Based on the stakeholder engagement, profit, and loss of the business can be determined very suitably. Stakeholder value creation in the hotels aims to have a high level of customer engagement.
According to my, different activities are included in the company for the customer’s value creation process. Optimization of the customer value creation is based on their independent contribution to the business. I have understood that conflict is the potential trait in the business. Therefore, while conflicts and potential trade-offs arise between major stakeholders it is necessary to make win-win solutions that transcend the high level of conflict in the company. I have found that, in the competitive business market, creating harmony between stakeholders allows the company to make suitable business initiatives (Rego & Cunha, 2010). As per my understanding, stakeholder engagement is the subject of making excellent business processes in the competitive business market.
5. How you would apply Higher Purpose and Stakeholder Orientation in your chosen industry:
I will apply a higher purpose and stakeholder orientation by implementing some important strategies in my hotel. In the case of a higher purpose, I will examine the current business position of my company for business development. Based on the assessment, I have to understand the purpose of taking a new initiative. For example, in the hotel, due to the huge number of tourist involvement I need to conduct a recruitment and selection strategy. While taking this decision I have to take opinions from other stakeholders of the company for which they will not feel awkward. This initiative is effective for suitable process management. In my company, stakeholder orientation can be possible by managing conflict between employees. Many challenges come into the situation of stakeholder management (Brooks, 2016). I will involve my stakeholder in the decision-making process so that their active participation will develop the efficiency level of the project. Real-life experience on the stakeholder engagement process in the company shows that neglecting stakeholders in the company has a very adverse impact on business improvement. I will need to make a cordial relationship with my internal and external stakeholders of the company. Based on their understanding I will develop my process of working.
6. Professional aspiration on the job:
Based on my experience, I can tell that managing conflict is the major process under stakeholder engagement in the company. I need to develop harmonization between stakeholders while thinking about a new project. I have learned that stakeholder engagement is based on improving the satisfaction level of the employees in the workplace. Development of the working environment is another strategy that I need to take for determining a satisfactory working environment for stakeholders (Johnson, 2012). Based on the different situations in the hotel different strategies are being adopted by the company. Each of the strategies is effective for organizational development.
7. Stages of U theory:
I have learned about U theory, which has two stages of deep learning. Challenging habitual ways of thinking is the main stage of this process. I need to go beyond the traditional stakeholder engagement process and search for innovative ideas. This process will develop my skills and ability to become an effective human resource manager in the company. The second stage is the Increase awareness of the larger whole based on a systems perspective that defines different system perspectives for developing awareness in the business (Johnson, 2012). Understanding corporate social responsibilities is the major purpose of the operation (Rego & Cunha, 2010). One of the significant purposes is to have a proper understanding of the situation (Rego & Cunha, 2010).
8. Summary of the reflection:
Thus, I can conclude that stakeholder orientation in the hotel industry allows the managers to achieve better experience in management. For different development purposes, these stakeholder engagement strategies are being connected to the company. The course develops my knowledge of the stakeholder orientation through the example of different situations.