The entrepreneurial approach to hotel operation: Evidence from the Asia-Pacific hotel industry [Summary]

From the study, we have learned that managers from entrepreneurial hotels who are willing to change and innovate themselves to win the competition are more likely to lead the market compared to traditional hotel corporations. Therefore, a few lessons are suggested to use in the industry. First, hotels should train their managers not to be afraid of changes. Secondly, it is important to identify opportunities in the market. That means hotels should learn how to know what opportunity is good for them by scanning their environment. Thirdly, hoteliers should enhance their entrepreneurial conduct by including the process of hiring, training, and rewarding employees who try adventurous performances. Lastly, managers should be able to predict business opportunities that are not founded by others yet. This needs insight into various fields that could affect customer demands from the economic, social, political environment. From the ability, managers would be able to articulate existing forces that the firm already owns then exploit their certain portfolio of capabilities.