MANAGEMENT OF THE STRATEGIC POTENTIAL OF THE HOTEL AND RESTAURANT INDUSTRY BUSINESS
Abstract
The purpose of the article is to study the factors, elements, goals and objectives of the mechanism for managing the strategic potential of the hotel and restaurant industry business and the directions for improving the management of strategic potential in the hotel and restaurant industry in times of change. Given the complexity of the whole situation, the article identifies the factors that influence the development of the hotel and restaurant industry business. The elements of the mechanism for managing the strategic potential of the hotel and restaurant industry business are allocated: strategic planning, human resource management, marketing planning, financial management, technological development, cooperation and partnerships, risk management, and organizational culture. These elements are interconnected and complement each other. Their effective implementation helps the business of the hotel and restaurant industry to increase its strategic potential, survive in unstable military conditions and succeed in a competitive environment. The objectives that should be formulated as part of building a mechanism for managing the strategic potential of the hotel and restaurant industry business include: ensuring competitiveness, maximizing profits, improving the quality of service and ensuring a positive customer experience, building and maintaining a strong brand, ensuring the sustainability of business activities in the face of unpredictability, accelerating the introduction of innovations, maximising the efficient use of human, financial and material resources, social and environmental sustainability. The main tasks of the mechanism for managing the strategic potential of the hotel and restaurant industry business are highlighted. Improving the management of strategic potential in the hotel and restaurant industry includes some areas aimed at increasing efficiency, competitiveness and adaptation to changes in the environment. Possible areas for achieving the proposed goals are as follows: introduction of technologies and digital innovations, strengthening of the online presence of the business, constant updating of the menu, development of flexible pricing strategies, introduction of loyalty programs and bonus systems, investment in staff training and development, implementation of environmental and socially responsible practices, use of analytical tools for collecting and analysing customer data, development of strategies aimed at improving guest service.
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