Future Seniors: Is the Hospitality Industry Ready for Them?

Persons age 55 and over will become the biggest market for hospitality throughout the next 30 years. This future senior market will not have the same needs and characteristics of current seniors. The author discusses the similarities and differences of the current and future senior markets and offers recommendations for meeting the needs of the future senior market.

Risk Management Strategies for the Hospitality Industry

Does your organization integrate the management of risk and opportunity Have you evaluated non-traditional risk exposures? These are critically important questions as today's increasingly complex business environment exposes hospitality companies to numerous risks.

Lender Liability: The Legal and Management Effects on the Hospitality Industry

With the savings and loan crisis and the tail end of a recession at hand, the '90s are bound to be a difficult decade for the financing of hospitality operations through borrowing from commercial lenders. The authors discuss one of the least known dangers associated with borrowing, lender liability. The issue is discussed from both a legal and managerial perspective.

Productivity: A Review For The Hospitality Manager

Hospitality managers have a number of methods available to them to enhance employee productivity. The author discusses five major concepts that can lead to successful results in the hospitality industry.

Mentors: Helping Younger Managers up the Hospitality Ladder

Mentoring is a centuries-old concept. However, in the hospitality industry, with its fast pace and high pressures, mentors can be of benefit in the training of younger managers before burnout The author discusses both the problems and benefits of mentoring, and how the system can work in the industry.

Drugs In the Workplace: A Manager's Guide

Drugs in the workplace is a growing problem that threatens a valuable human resource - the employee. Managers in the hospitality industry can take a proactive stance in meeting the problem head on. The authors discuss what managers can do.

An Analysis of Information Technology Publications in Leading Hospitality Journals

In response to the recent wide-scale applications of lnformation Technology (I/T) in the hospitality industry, this study analyzed articles in leading hospitality research journals, including the International Journal of Hospitality Management, Cornell Hotel and Restaurant Administration Quarterly, and the Journal of Hospitality & Tourism Research published in the period 1985 to 2004. A total of 1,896 full-length papers were published in these journals during the study period. Excluding book reviews, research notes, and comments from editors and readers, 130 full-length IT-related papers were identified. These papers were then grouped into six defined categories of IT. The findings revealed that during the entire study period, the largest number of publications were in general business applications, whereas the highest growth rate from the first decade to the second decade were in articles on networking

Essays on Competition in the Pharmaceutical Industry

Chapter 1: Patents and Entry Competition in the Pharmaceutical Industry: The Role of Marketing Exclusivity Effective patent length for innovation drugs is severely curtailed because of extensive efficacy and safety tests required for FDA approval, raising concern over adequacy of incentives for new drug development. The Hatch-Waxman Act extends patent length for new drugs by five years, but also promotes generic entry by simplifying approval procedures and granting 180-day marketing exclusivity to a first generic entrant before the patent expires. In this paper we present a dynamic model to examine the effect of marketing exclusivity. We find that marketing exclusivity may be redundant and its removal may increase generic firms' profits and social welfare. Chapter 2: Why Authorized Generics?: Theoretical and Empirical Investigations Facing generic competition, the brand-name companies some-times launch generic versions themselves called authorized generics. This practice is puzzling. If it is cannibalization, it cannot be profitable. If it is divisionalization, it should be practiced always instead of sometimes. I explain this phenomenon in terms of switching costs in a model in which the incumbent first develops a customer base to ready itself against generic competition later. I show that only sufficiently low switching costs or large market size justifies launch of AGs. I then use prescription drug data to test those results and find support. Chapter 3: The Merger Paradox and R&D Oligopoly theory says that merger is unprofitable, unless a majority of firms in industry merge. Here, we introduce R&D opportunities to resolve this so-called merger paradox. We have three results. First, when there is one R&D firm, that firm can profitably merge with any number of non-R&D firms. Second, with multiple R&D firms and multiple non-R&D firms, all R&D firms can profitably merge. Third, with two R&D firms and two non-R&D firms, each R&D firms prefer to merge with a non-R&D firm. With three or more than non-R&D firms, however, the R&D firms prefer to merge with each other.

Innovation in the pharmaceutical industry: New estimates of R&D costs.

The research and development costs of 106 randomly selected new drugs were obtained from a survey of 10 pharmaceutical firms. These data were used to estimate the average pre-tax cost of new drug and biologics development. The costs of compounds abandoned during testing were linked to the costs of compounds that obtained marketing approval. The estimated average out-of-pocket cost per approved new compound is $1395 million (2013 dollars). Capitalizing out-of-pocket costs to the point of marketing approval at a real discount rate of 10.5% yields a total pre-approval cost estimate of $2558 million (2013 dollars). When compared to the results of the previous study in this series, total capitalized costs were shown to have increased at an annual rate of 8.5% above general price inflation. Adding an estimate of post-approval R&D costs increases the cost estimate to $2870 million (2013 dollars).

Clipped wings: corporate social and environmental responsibility in the airline industry

Within the developed world, airlines have responded to the advice of advocates for corporate social and environmental responsibility (CSER) to use the intertwined CSER dimensions of economics, society and environment to guide their business activities. However, disingenuously, the advocates and regulators frequently pay insufficient attention to the economics which are critical to airlines’ sustainability and profits. This omission pushes airlines into the unprofitable domain of CSERplus. The author identifies alleged market inefficiencies and failures, examines CSERplus impacts on international competition and assesses the unintended consequences of the regulations. She also provides innovative ideas for future-proofing airlines.　 Clipped Wings is a treatise for business professionals featuring academic research as well as industry anecdotes. It is written for airlines (including their owners, employees, passengers and suppliers), airports, trade associations, policy makers, educators, students, consultants, CSERplus specialists and anyone who is concerned about the future of competitive airlines.

designing + (dis)assembling disputes: an ethnography of disputes & lawyers in the construction industry

The UK construction industry is notorious for the sheer amount of disputes which are likely to arise on each building and engineering project. Despite numerous creative attempts at “dispute avoidance” and “dispute resolution”, this industry is still plagued with these costly disputes. Whilst both academic literature and professional practices have investigated the causes of disputes and the mechanisms for avoidance/resolution of these disputes, neither has studied in any detail the nature of the construction disputes and why they develop as they do once a construction lawyer is engaged. Accordingly, this research explores the question of what influences the outcome of a construction dispute and to what extent do construction lawyers control or direct this outcome? The research approach was ethnographic. Fieldwork took place at a leading construction law firm in London over 18 months. The primary focus was participant observation in all of the firm’s activities. In addition, a database was compiled from the firm’s files and archives, thus providing information for quantitative analysis. The basis of the theoretical framework, and indeed the research method, was the Actor‐Network Theory (ANT). As such, this research viewed a dispute as a set of associations – an entity which takes form and acquires its attributes as a result of its relations with other entities. This viewpoint is aligned with relational contract theories, which in turn provides a unified platform for exploring the disputes. The research investigated the entities and events which appeared to influence the dispute’s identity, shape and outcome. With regard to a dispute’s trajectory, the research took as its starting point that a dispute follows the transformation of “naming, blaming, claiming…”, as identified by Felstiner, Abel and Sarat in 1980. The research found that construction disputes generally materialise and develop prior to any one of the parties approaching a lawyer. Once the lawyer is engaged, we see the reverse of the trajectory “naming, blaming, claiming…” this being: “claiming, blaming, naming…” The lawyers’ role is to identify or name (or rename) the dispute in the best possible light for their client in order to achieve the desired outcome – the development of which is akin to the design process. The transformation of a dispute and the reverse trajectory is by no means linear, but rather, iterative and spatial as it requires alliances, dependencies and contingencies to assemble and take the shape it does. The research concludes that construction disputes are rarely ever completely “resolved” as such. Whilst an independent third party may hand down a judgment, or the parties may reach a settlement agreement, this state is only temporal. Some construction disputes dissipate whist others reach a state of hibernation for a period of time only to pick up momentum and energy some years later. Accordingly, this research suggests that the concept of “dispute resolution” does not exist in the UK construction industry. The ultimate goal should be for parties to reach this ultimate and perpetual state of equilibrium as quickly and as cost effectively as possible: “dispute dissolution”, the slowing down of the dispute’s momentum. Rather than focusing on the design and assemblage of the dispute, the lawyers’ role therein is, or should be, to assist with the “disassembling” of the dispute.

A Social Networking Strategy for Improving Knowledge Management and Communication in the Travel Industry

In today’s technology-driven marketplace, the adoption and management of corporate and customer-facing Social Networking Sites (SNs) is often viewed as a key success factor for Travel Industry (TI) organisations. Knowledge management and the sharing of expertise and experiences through communication between internal and external stakeholders via social networks is an activity which TI organisations are aiming to exploit in order to improve the open sharing, retrieval, organisation and leveraging of knowledge. Through a study of currently-available literature relating to social networking adoption within the TI and a case study analysis of corporate social networking practices at three multi-national TI organisations (British Airways, Thomas Cook and Marriott Hotels), it may be observed that correlations exist between the development of social networking and the processes TI organisations now use to manage knowledge. We explore how these companies are currently utilizing SNs to improve knowledge management practices inside and outside of their organisational boundaries. From our analysis, lessons may emerge as to how TI companies are gaining competitive advantage through the use of social networking; a proposed strategy is identified to determine how TI organisations may make best use of social networks.

Nanotechnology in the food industry I: applications

Nanotechnology is a multidisciplinary science that is having a boom today, providing new products with attractive physicochemical properties for many applications. In agri/feed/food sector, nanotechnology offers great opportunities for obtaining products and innovative applications for agriculture and livestock, water treatment and the production, processing, storage and packaging of food. To this end, a wide variety of nanomaterials, ranging from metals and inorganic metal oxides to organic nanomaterials carrying bioactive ingredients are applied. This review shows an overview of current and future applications of nanotechnology in the food industry. Food additives and materials in contact with food are now the main applications, while it is expected that in the future are in the field of nano-encapsulated and nanocomposites in applications as novel foods, additives, biocides, pesticides and materials food contact.