Developing hospitality operation through adoption of management techniques

... As with other businesses hospitality operations including hotels, restaurants, pub and bar businesses are now facing very tough trading conditions. Their operation environment that is being hard hit by the effects of an economic slowdown and the credit crunch. Britain is approaching a sink into recession in the current year with a contradiction of economic output in both the third and fourth quarters (Seager, 2008). Paris based Organisation for Economic Cooperation and Development released its latest set of economic forecasts. According to the report, ongoing effects of the credit crunch and a weakening housing market will cause the British economy (claimed to be the worlds fifth largest) to shrink by 0.3 percent in second quarter and by 0.4 percent in the October to December period. According to the shadow chancellor George Osborne (cited in Seager, 2008). "Not only is the British economy predicted to shrink in the next two quarters, but

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