CORPORATE HOSPITALITY

Corporate Hospitality

Corporate Hospitality

Introduction

So far there is still no common understanding of the world or a single definition of what corporate hospitality means exactly or covers. More generally, corporate hospitality can be understood as the totality of all national and international regulations, rules, values ??and principles that apply to business and determine how they performed and monitored. The literature is discussed regularly (although this is rarely shown explicitly) on good corporate hospitality and the improvement of the existing corporate hospitality.

Features of good corporate hospitality:

functional management

Safeguard the interests of various groups

purposeful cooperation of the management and monitoring

Transparency in Corporate Communications

reasonable approach to risk

Management decisions on long-term value creation oriented.

Corporate hospitality is very complex and includes mandatory and voluntary measures: the adherence to laws and regulations (compliance), the follow accepted standards and recommendations, as well as to develop and follow their own corporate guidelines. Another aspect of corporate hospitality is the design and implementation of management and control structures (Tutt, 2012, pp. 156-70).

Ensuring good corporate hospitality qualified person must be responsible, transparent and geared to the long term success guide and should be able to deal with corporate affairs of the organization itself, its owners, but also external stakeholders (donors, sales and procurement markets, the company, the citizens) serve.

In addition, there has for some time efforts to make the idea of corporate hospitality for other organizations in the public and semi-private sector efficiencies, such as cooperatives (Cooperative Hospitality), foundations , associations (non-profit) or public businesses and institutions (public corporate hospitality). In terms of sustainability of the concept of hospitality is increasingly used for resources and infrastructure in network industries used (Bennett, 2003, pp. 229-40).

Corporate Hospitality is not internationally consistent framework, but except for a few internationally, recognized common principles a country-specific understanding of responsible corporate management. In addition to country-specific corporate hospitality rules but there are also cross-country sector-specific regulations.

Discussion

Association of Corporate Hospitality with Corporate Events

Corporate hospitality has been associated with the corporate events for a considerable period of time and has become an integral feature of major corporate activities. Corporate hospitality involves events and activities organized for the benefit of companies that desire to entertain current and perspective clients or employees at the company's expense. The increased need of sponsorships for major events has led to the continued growth of corporate hospitality. In order for corporate hospitality to be successful at helping the organization gain or retain clients, it is essential that the corporation manage it in a way that creates a unique experience. This process may include access to hard-to-get seats, celebrity guests, haute cuisine catering, entrance into the most exclusive parties, and surprising and elegant corporate gifts. In short, the corporation must do whatever is necessary to ensure that clients enjoy an unforgettable experience.

Hospitality plays a vital role in the context of international exposure for the corporation, integrating the magic of a large-scale event with the creation of a privileged atmosphere for networking and client relationship building (Bennett, 2003, pp. 229-40). Corporate hospitality affords organizations the opportunity to use entertainment as a means to develop, enhance, and sustain long-term customer ...