Hospitality and Travel in Singapore

Hospitality and Singapore Name: Course Code Instructor: Date of Submission Introduction When a company seeks to expand base and enter a new market, there are many factors of consideration. The PESTLE analysis is one of the most effective ways of analyzing a new market. This is taking consideration of the political economic, social, technological, legal, and environmental factors. Of equal importance when venturing into a new market are the mechanisms of operation (Marsden, 2012). This discussion looks at the operational mechanisms for hospitality and tourism sector in Singapore. The discussion will seek to establish some of the problems that hospitality and a tourism companies venturing into Singapore for the first time is likely to experience. One of the operational issues that hospitality companies face is stiff competition. Due to the dynamic nature of the industry, there are new entrants in the market every so often. This has seen the hospitality industry flooded making business more difficult (Smith, 2011). This makes it difficult for businesses that are newly established in Singapore to create a niche for themselves in the market. It is also not easy for companies seeking new markets in Singapore to immediately establish their clientele due to the flooded hospitality industry. Another operational problem is the inability to expand. Businesses tend to expand due to good performance (Marsden, 2002). However, with stiff competition, expansion of businesses in Singapore is a daunting task. This means that the profitability of the organization in Singapore is at risk due to the unpredictability of the hospitality sector. Culture presents yet another operational problem in Singapore. There are different diverse cultures in Singapore which translates to different nee...