Impact Of Emerging Managerial Practices On The Performance Of Indian Hotel Industry

Abstract

"Innovation and Market Orientation collectively are considered as the best pillar for the continued existence of any business especially in case of service industry. Hotel Industry also falls in the same purview. Hotel industry in our country, is witnessing most important transformation from conventional to modern era practises. The emerging needs in new sector have arrived from both foreign and domestic visitors. With the view to cope- up with this diverse and mounting demand of the diverse visitors the service industry is striving to create lucrative products to deal with the flamboyant want of the visitors. The government of India has also set itself on pace to fetch an innovative strategy for the emancipation of Indian hotel industry. For example government has introduced schemes to ease the investment by the people and schemes to provide better connectivity by air and land. Government has also put much emphasis on the development of infrastructural reforms of the country for the better growth of hotel industry in our country. This paper puts much emphasis on the emerging Managerial practices like Innovation, Market Orientation trend and its impact on the performance of Indian hotel industry which has drastically shaped the positive set-up of the overall industry. Paper also states the force of emerging customs in the hotel industry and the Indian economy at large from 1990 onwards this conceptual paper would debate for the significance of market orientation and innovation as a strategic culture.