This paper outlines how tourism/hospitality organizations utilize internal resources to achieve competitive advantage.
This paper is a concise critical evaluation of the extent of sustained competitive advantage a firm can attain with the astute use of internal resources. The paper presents the thesis statement of the paper to outline the argument of the paper, followed by a literature review. The review of literature outlines the significance of the topic, the various internal resources available to tourism/hospitality organizations, and the efficient employment of these resources towards the goal of competitive advantage in light of management theories. An analysis by the author follows the literature review to critically analyze the extent of competitive advantage from an astute use of internal resources.
“The tourism and hospitality industries are operating in a global environment. The extent of globalization introduces the organization working in the industry to compete beyond borders, besides the competition faced from within the local market. Therefore organizations need to be highly competitive to get hold of a greater share of consumers in the global markets. However, tourism and hospitality industries are sensitive to global fluctuations in demand and conditions (such as travel safety and seasonal shifts). Keeping this under consideration, organizations need to strengthen the use of their internal resources to solidify their operations in the fierce competition. This generates the need for organization to realize the importance of efficiently utilizing their internal resources towards organizational objectives.”