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The world learns through experience, but living in an image-conscious world may prevent one from learning through his experiences. This is apparently a dilemma considering the fact that one lives in an age of post modernism; a stage during which signs mask reality, and one is often deceived through image-promoting strategies. This is true to say because of the fact that signs, logos and big names are now common, and people are often lured into believing the authenticity of different products because of the promotions they have. Behind all these, there are hidden realities that would surprise one. Even services such as corporate hospitality come under this understanding because of the fact it masks the relationship of companies and their clients. Though it boosts productivity and promotes better relationships it is nevertheless a means of covering up failures and misunderstandings and promotes closeness between companies and clients. In discussing corporate hospitality, one can assert that its importance is immense because of the fact that it ameliorates relationships at the business level and does its part in invigorating economics.
The world has reached a stage at which everything is close-knit. There are several bodies and structures that interact with each other that appear to be systematic. Globalization for instance is something has many countries, organizations and institutions operating together. Each of the components in the globalization process exists for its self and is self-driven, yet the system functions. In this regard, one might assert that markets of different types and sizes function in a similar manner.
Corporate hospitality is in fact a small part of the market or economic operation, with its visible effects. Companies and clients are both actively participating in it, making it an increasingly viable one for people to invest in. This is because of the fact that there are organizations that cater to those interested in being hospitable towards their clients. The option available is to either allow the clients use of the facilities under hospitality packages or enjoy the same package with them. Some companies choose to do the latter because of the fact that it would save costs and also help in building a better relationship with them being around their clients. In this case, the clients actually have time to learn more about the company they are dealing with. This helps to build trust between both parties (Shone, 1988).
The services and products of corporate hospitality are known to be quite reliable with an immense amount interest in them. In recent years this has been the case and in time to come it is expected that there is going to be even more interest in this particular industry.
Foresightedness is affected by various factors. Knowledge of economic history may also play a pivotal role in the future of one's business. This is coupled by the individual experiences of other entrepreneurs too whose consultancy is a must. Novices must gather as much information as possible from the experienced individuals s/he comes into contact with. This mitigates the chances of a business failing to a great extent and serves as the greatest precautions for a new business.
The Involvement of Consumer Behavior:
Consumer behavior is considerably dependent on promotion of products; the manner in which products and services are promoted directly influences customer behavior. Each medium used for promotion has its own impact, and the one that is believed to have a tremendous impact is the Internet. Similar to this is the manner in which client and company relations are boosted through corporate hospitality. It is believed to boost promotions and sales greatly through setting to work on friendship.
Basically, here one is talking about the emotional stimulation that helps ameliorate business relationships. This is because of the simple human mechanism in relation to business; if you ameliorate relationships in a more personal manner by showing a friendlier side, there are greater chances of improving professional ties as well (Allen, 2003).
Indirectly, this affects consumers at large. If one organization's business ties improve, there are greater chances of other companies in connection with them benefiting. This is true to say because of the fact that there have been good relationships between two or three companies, and they managed to build better partnerships. In turn, their trust led them to better contracts that earned them greater revenue. In the long run, those who were business contacts to them benefited as well were able to conduct better trade and avail more benefits.
The Mechanism of Corporate Hospitality:Â
Corporate hospitality, from a general view, aids consumer behavior and improve sales in the long run that benefits people at large. Corporate Hospitality, more specifically, is the approach to business between a company and a client; it is the practice of provide leisure and entertainment to clients. This kind of provision is believed to be something honorable between companies and clients because of the fact that the hospitality offered is of a high level. In fact, some companies cannot plan the hospitality packages themselves. So, what they do is get other organizations to do it for them. Having organizations arrange hospitality packages means that the packages are complete and have a fixed set of entertainment and facilities to avail.
When corporate hospitality organizations organize packages, these vary in accordance with what one would like to offer his or her clients. This refers to the quality as well as the duration and location. These are core points that really matter. They matter because each of them affects the cost of the package. For example, location for the package matters, and this means that the cost would be affected by where one chooses to have the package implemented. The variety of facilities and entertainment also affect the cost, and the amount of entertainment that one would want to provide a client would depend on the importance of the client. Quite naturally, the more valuable the client is, the more you would be able to invest for hospitality.
Impact of Globalization:
In an era where globalization has made the world a lot smaller, corporate hospitality is easier to implement. The cost of things in many cases has been lowered significantly, and made the packages more affordable. So much have rates been lowered that companies can now even offer a client a choice in location. The entertainment facilities as well can be offered to a client as a range to choose from. There can be a choice offered as far as hotels and places to stay are concerned.
All the offers that are made available with discounts are not worked out through meticulous formula making but are in fact the result of the drop in prices due to the effects of a globalized world. Quite obviously, globalization is propelled by the speed of communication, without which the processes of trade witnessed today would be much slower. This era called globalization, is a phenomenon that brought many parts of the world together through faster communication systems, which have ameliorated the state of corporate hospitality among many other things.
Since, globalization has in fact resulted due to the fact that communication systems have been boosted in recent years. This is also the reason why the present age that people live in is called 'the age of communication' (Baxter, 2002, 23-40).
Corporate Hospitality Ameliorates Communication:Â
The world in which one lives today is indeed a fast-paced one. This fast-paced environment has evolved because of various actions, each of them interacting and producing a variety of results, and creating effects that favor the current situations today. This may all sound complex, but in truth, it may be simply described as a vast number of actions causing the very situation that one witnesses today. This complex situation does not mean that there is total chaos because there is in fact an organized system in place. This organized system is one that helps many countries or organizations stay in contact with each other. It is this togetherness that is in sync with corporate hospitality in a manner of speaking.
Focusing on the functionality of the organization, communication within and outside it is important. Within the organization, when it comes to catering to clients that they want to be hospitable towards, employees need to be courteous; they need to be aware of the importance of dealing with them. This is because of the fact that it is important for the business relationship.
Promoting corporate hospitality also helps top enhance the skills of the employees. This is because they learn how to deal with clients better and they understand the value of them as well. This helps to enhance he efficiency of the organization too (Bagehot & Nuttall, 1990, 12-15).
Problems in efficiency may emerge due to the lack of communication or the lack of skills with newer personnel employed in the firm. This is because they are not aware of exactly what the cultural atmosphere was at the original location of the firm. Since they have been newly employed they are bound to face problems such as these.