Business Management TBC

In the hospitality industry, regardless of your price and how many stars your business has to make a positive impression on customers. Part of hospitality business management is training your staff to carry out those special touches that make staying in your venue feel unique.

Match tone to atmosphere

Standards of service have gotten a lot more casual, but different environments still have different expectations. In resort management, if you have a fancy and expensive spa at the heart of the guest experience, you will want a mix of restful and respectful. On the other hand a western style ranch is going to encourage a more open attitude, so make sure staff doesn’t forget their bright and friendly smiles and -Y’alls-

Think responsive and customized

The best thing you can do for guests is remember their individual preferences. Your secret weapon is your hospitality database, tracking their names, likes and dislikes, as well as how frequently they stay with your establishment. If you’re part of a larger chain, you can even find out where else they’ve stayed. After all, nothing beats a -Welcome back!- to remind guests they should stay with you often, and you’ll blow visitors away when you remember little things like their desire for extra towels.

Friendly, always, for everyone

From concierge to maid to dishwasher in your hotel kitchen, every single member of your staff is in customer service. Pay a little extra and keep staff morale high, it’ll show up in a can’t be faked attitude towards guests that will also make it easy to attract the best possible workers. This is particularly important in a seasonal business, for example if you do ski resort management you want staff coming back year after year for seamless service and a great presentation with no fumbling around.

Signature touches

A special brand of chocolate on the pillow sounds clich, but guests appreciate the better-than-home touches and these sorts of freebies also become souvenirs. Do not overlook the value of branded goods, as some hotels have such a cachet that guests have to be prevented from leaving with towels or outright stealing silverware. You can deal with guest wishes to take the atmosphere with them by offering the fixtures for sale, but before you get to do things like licence your own line of bed sheets, you first need to enhance your hospitality brand.

Thus, whether it’s DIY fresh waffles as part of the breakfast buffet or a fancy way of folding napkins, making your venue unique is another important aspect of hospitality business management. If it’s a business with a long standing history or a chain, you may have established traditions, but if not, you will really want to put effort into developing some. Combined with personalized service it’s the best way to keep guests coming back year after year, whether corporate or pleasure travellers.

Visit Canadian Tourism College for more information on improving your skills including enrolling in hospitality management school.

Article Source: http://ezinearticles.com/?Hospitality-Business-Management:-Special-Touches-For-Best-Service&id=8071067.

Some mistakes new online business owners make and how to avoid them

New business owners, particularly an outsourcing company, carry with them misconceptions about the business that can be detrimental to their success. Those whove been there share some of these mistakes with us, and how to best avoid them:

Common Mistake #1: Treating your business as a sideline.

A lot of people get into a business “thinking they dont have to work” and that it “works on auto-pilot”. On the contrary, you need to put in your time, hard work, physical presence, and care to make your business grow. In the absence of a professional managing team, a business will always need the hands-on management of its owner. “That is why RemoteWorkmate require all our employees to log in at least 5 minutes before their shift to ensure their focus,” says John Paul Grant, the owner of an outsourcing company in Philippines.

Common Mistake #2: Neglecting to improve yourself.

Being a business owner means having good people skills and having the ability to manage employees. So take courses or study articles that teach about management and self-improvement; when you improve yourself, you improve your business.

Common Mistake #3: Focusing on money too much.

Applicants must also consider if they have proposed the right location, and if they can manage the business well. Others make the mistake of choosing businesses based on the price and affordability. Although financial gain is one of the reasons to have a business, it should not be the ONLY reason. Try to instigate to your employees never to work for money. Those who work with enthusiasm and passion are the most successful because “their passion for the product and business drives them to excel, then the money abundantly flows afterwards as a result of their passion and enthusiasm.”

Common Mistake #4: Charging personal expenses to the business.

Some new businesses make the mistake of charging their familys expenses like groceries and other utilities in the income of their business; this eats up their operational expenses and messes up their financial accounting. Get a salary from the business then deduct your personal expenses from there. What I mean is to work for your own company that will strike a good result in sales, get a client that will pay for your business.

Common Mistake #5: Having unrealistic expectations.

Although the failure rate in having an online business is relatively low, all business men agree that they cannot guarantee a 100% success rate because it depends in a variety of factors. Some business man expects their employees to do everything for them, which is a common misconception. While employees are there to support and guide the business, managing the business, and running it lies on your hand. You also need to manage your expectations. To prepare for the natural highs and lows of doing business, “You should have a passion for the business you are entering.” Study the market well and be prepared for the lows because there will be dips in your income. At the end of the day, your virtual staff or employees success actually depends on you.

Knowing what not to do helps you focus on what you need to do in order to succeed. Cheers to a great year ahead!

In order to perform proficiently in business organization, there are certain roles and responsibilities, which are meant for working business professionals. Until, they perform those functions, they can not achieve their task. This article talks in detail about these roles and responsibilities. There are a number of organizational roles and responsibilities, which can be identified (depending on the position and responsibilities of individual managers) that are obligatory to carry out the proper functioning of a corporate. Usually, these roles come in three forms, which include of interpersonal roles, information roles, and decision maker roles. We shall discuss about these roles in details. While performing their interpersonal roles, professionals generally act as leaders for their units or organizations, which entail performing ceremonial duties or entertaining associates. Leaders also act as a liaison officer, working with their peers in other departments or contacts outside the organization. The role of the liaison officer, leaders need to interact with peers, customers, managers and others. Secondly, when we talk of their information role, managers observe the business environment and make them self busy in collecting data and information that may leave an impact on their concerned departments and on organization as a whole. Besides, performing this task, managers also convey all that information with their employees. Managers play the role of information, acting as spokesman, providing information about the company to the public. In addition, senior executives often have to interact with government groups of consumers, industry associations and other organizations. Finally, coming down to decision making role, these managers regularly supervise and monitor their concerned departments and staff and solve their troubles and turbulences. This role of managers also helps them in mounting a large portrait of the department and own position in the organization. Similarly, business management professionals must secure resources, which might be helpful for their team or group and to bring out assistance from other groups as well. While acting as a decision maker, manager also reserves the resources, to determine how to allocate the limited resources within the units to make the most of effectiveness. This also concerns the function of entrepreneurial skills, for the reason that managers require to generate ideas for improving the performance of their departments. To be triumphant in their diverse roles, leaders must have a amalgamation of skills in three wide categories, which include technical, conceptual, and the report. Technical skills pass on to acquaintance of processes, tools and techniques, in meticulous companies or corporate. These roles and responsibilities help them not only manage their work efficiently in an organization, but also, get grow in hierarchical positions. One of the best ways of learning these skills and knowledge is get one extensive business management programs from a good and reputed business school. Since this has become a necessity on part of managers, there is no way out except performing well.

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There is little question that anger can be a strong motivator, pushing one to great lengths. Certainly one can achieve admirable goals while motivated by an inner rage. Some of the most famous people in the world have been motivated by a personal fury. But I would not classify such people as successful. I was once angry at the world for all the chaos, turmoil, hatred and crime that I observed. It was easy to remain that way for years, but I came to learn the truth about being motivated by anger.

Perhaps anger is good for the professional athlete; as far as physical exertion and athletic accomplishment are concerned, anger could be positive to a large extent. But winning the sports game is not the same as the lifelong success game.

There are lessons to be learned from being angry. Rage or fury is very often used as a substitute for confidence, or perhaps a replacement for insecurity or fear. But ultimately anger is a false motivator; although it can bring about some level of achievement, anger clouds judgment and skews perception. Anger makes one totally subjective and does not allow for the possibility of objectivity. Therefore, any goal achieved at the hand of anger, is not a success to be enjoyed in the long term. One cannot truly enjoy anything if angry.

A strong Abundant Life Coach will suggest that mental Preparation (having our emotional house in order) is a necessary step within sustained success. But like all mental/emotional barriers, we must realize and accept its existence in order to eliminate. Illumination leads to elimination. Anger is an enemy of love and therefore an enemy of success in life. To overcome anger is to remove one obstacle from a pathway to success.

Original Source: High Net Worth Individual Singapore

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HNWIs population and wealth is growing at a very fast rate when compared to the global and Asia-pacific average. The wealth of HNWIs in Singapore is growing at 35.6%, whereas wealth of HNWIs is growing at 17.1% globally and 25.8% in APAC. The population of HNWIs is growing at 35.6% in Singapore, whereas it is growing at 18.9% globally and 30% in APAC. The growing wealth and population of HNWIs in Singapore provides a huge opportunity for wealth management companies. It is imperative for wealth management companies to know the changing needs and behavior of HNWIs in order to increase their profitability and customer base.

HNWIs in Singapore are demanding frequent personal interactions with their wealth managers. They want their managers to possess better product knowledge, be open to new ideas, and personally interact with them on a regular basis. They want them to understand their needs and the risk associated with a particular investment product. One of the major reasons why HNWIs change their wealth managers is their failure to understand the needs of clients.

The growing population of HNWIs in Singapore is providing a huge opportunity for wealth management firms to increase their revenues and customer base. The main purpose of this report is to study the changing needs and behavior of HNWIs in Singapore. It also aims to study their investing patterns and the factors, which will drive HNWIs wealth and the challenges faced by wealth management firms.

Scope of the report
Market Overview
This section discusses the market size and segmentation of the wealth management industry as a whole, and segmentation of the wealth of HNWIs in Singapore based on the way they have accumulated it, and the different asset classes and geographies in which they invest it.

Market Dynamics
This section discusses the trends related to changes in the needs and demands of HNWIs in Singapore as well as the factors that are driving wealth creation in the country. It also discusses the investments made by HNWIs in different asset classes and the challenges faced by the wealth management firms.

Trends of HNWIs in Singapore
This section discusses the varying demands of HNWIs based on their age group and the criteria they follow to choose their wealth managers. This section also discusses what asset classes are favored by HNWIs in Singapore.

Business case study
The case study discusses the measures taken by Oversea-Chinese Banking Corporation (OCBC) Bank based in Singapore, to improve customer service by streamlining its operations and save time on managing client information.

Company Profiles
This section describes companies offering wealth management services in Singapore, and includes an overview, primary business, wealth management operations in Singapore, strategies followed by them and recent developments related to wealth management operations in India

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This market research study will forecast the future roles, uses, and acceptances of new products, services, and applications emerging in the marketplace. It will identify opportunities where companies can get a leg up on the competition.

Key questions answered
How Singapore HNWI offers opportunity to the wealth management firms.
Needs, demands and behavior of HNWI in Singapore
Factors which will drive the growth of wealth in Singapore
Challenges faced by wealth management firms
Trends of HNWI in Singapore
What are the major drivers and opportunities in the market?

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