Tag: leadership

Briefing: The importance of strong leadership

Posted on by Guy Lean

A new survey from Hospitality Sales and Marketing Association International (HSMAI) has uncovered the work, challenges, and concerns of senior Revenue Management professionals. It found that critical thinking was considered an important or very important management skill by all respondents, as was business acumen by 98% of respondents. What else is required to be an effective manager and how much of a difference can the right leadership make to a business?

In these video, experts discuss leadership and management in hospitality:

The HSMAI survey shows that there is a desire from Revenue Managers to have more control to push businesses forward; the top-rated responsibilities the respondents said they would like to add to their duties were Sales and Marketing, and Strategic Planning.

The HSMAI survey found that revenue management professionals currently spend on average 5.5 hours per week on Human Resource Management, 14 hours on Strategy, and 5.6 hours on Technology Application.

The survey also covered the challenges that the Revenue Managers faced. The most challenging aspects of the revenue managers position was found to be; advancing the thinking & decision making in related disciplines, and elevating the strategic application of data throughout the enterprise.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Hospitality leadership is more than revenue management

Posted on by Guy Lean

A survey published in the Harvard Business Review has revealed that the top two leadership qualities, as rated by global leaders, are having ‘high ethical and moral standards’ and ‘providing goals and objectives with loose guidelines/direction’. In hospitality, leaders at hotel management level and brand executive level have different but equally important roles to play in the success of a business.

In these videos industry experts discuss the importance of good leadership in hospitality:

In 2016, 89% of companies see leadership as an important or very important issue (up from 87% in 2015). That is according to Deloitte’s Global Human Capital Trends 2016.

As a business or industry develops leaders must be able to change and learn. This was reflected in the number four choice in the HBR survey; having ‘the flexibility to change opinion’.

One report that focused on leadership in a world of change is IBMs Global C-suite Study. This found that today’s CEOs say technology is the chief external influence on their enterprises. They think that user-based mobile solutions and cloud computing will be big drivers of change. 82% of the CEOs surveyed expect to engage more digitally over the next 3 to 5 years.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Learning to evolve is key to success

Posted on by Guy Lean

In a survey by Gap International, 34% of executives ranked Mind-set/Attitude as the most important attribute for the success of great business leaders.  31% ranked People Skills/Team Building as most important, while only 15% rank Industry Experience this way.

In an industry that is constantly evolving, no one can expect that the same skills will always see them to success. Having an organisation that embraces change is the key to making progress. Leaders need to be open to new ideas and be willing to take the time to learn about new developments.

Our experts discuss growth and evolution in a changing world:

The way leaders deal with change and growth is very important as it can directly affect the attitudes and performance of employees within the organisation. A report by Towers Watson found that communication in an organisation going through change can be 6% worse than in an average company, whilst a high performing company could be 16% above average, making a 24% difference between the two. Company image can fall down by a massive 14% and empowerment can go down by 6%.

The study also found that a preference for change amongst employees can increase their engagement at work. The report found that among employees who prefer change 57% were engaged, while among those who preferred stability, only 19% prefer change.

So a positive attitudes toward change across the board can keep companies moving forward with the changes that are happening around them.

The Gap international study, surveyed 301 senior executives at companies in the United States with revenues of $1 billion or more.

The Towers Watson 2014 Global Workforce Study surveyed more than 32,000 employees across a range of industries in 26 markets around the world.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Developing career confidence, passion and leadership

Posted on by Guy Lean

In a survey by the National Association of Colleges and Employers, 77.8% of employers named both “leadership” and “the ability to work in a team structure” as key attributes they look for on a job application. According to a study by LinkedIn, more than half of the people surveyed feel more comfortable voicing their opinion at work now than when they first started their career.

Building confidence is an important part of career development. In these videos successful hospitality professionals discuss leadership and taking charge of your own career:

Leadership skills can be developed within a supportive working environment. A report by DDI found that 70 % of leaders say developmental assignments are most effective way to develop leadership. The Global Leadership Forecast 2014/2015 also suggests that not having enough time or opportunity holds people back from growing as a leader.

But attitudes to work are changing, people are building their own paths to success. In the LinkedIn New Norms @Work study a third of people said that if they were unhappy, leaving within a month would be ok. Interestingly the survey also found that the number of jobs professionals think looks good on a LinkedIn profile is 3. An unrelated survey from RecruitFi also looked in to attitudes around multiple jobs. This Millennial Outlook Survey found that 83% of millennials would change jobs to pursue their passions, even while acknowledging that it could look bad to prospective employers.

When people do decide to change their careers, according to a survey by Accountemps, two in five executives in the United States would turn to a spouse or significant other for advice first, with friends and mentors being turned to by 20% and 21% of people respectively.

Those starting a career may not have the confidence or experience to lay out a plan for their career, and may feel uncertainty about job prospects and security. Therefor opportunities to gain skills and step into an industry are appreciated. According to the Milkround Student and Graduate Career Confidence Survey Report 2015, 61.2% of student and graduates felt that “work experience or an internship” would make them feel more confident about their career prospects.

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: How hospitality companies are evolving into digital businesses

Posted on by Guy Lean

According to CSC’s Leading Edge Forum, less than 4 out of 10 companies are ready to take advantage of the new business opportunities arising from developments in digital technology.

In the hospitality industry there have been some digital successes, and some companies struggling to keep up. A good digital culture needs good leadership and the right partnerships.

In this briefing four hospitality experts discuss building digital into the business plan:

Depending on a business’s resources, ‘becoming digital’ will mean different things, large companies may invest money in new plans and new specialist staff, independents may look into what platforms and partnerships they can use to help themselves.

While digital is changing the way business works, it is also creating jobs and, according to Deloitte, is boosting the economy. A report from Deloitte on the impact of technology on jobs in the UK found that over the past 15 years technology-driven change has added £140 billion to the UK’s economy in new wages.

The report states that ‘In the future, business will need more skills, including: digital know-how, management capability, creativity, entrepreneurship, and complex problem solving.’ Business leaders will already be keenly feeling this need and it will only continue, which is why having a plan that incorporates digital and having people to push this agenda forward is essential.

Research from McKinsey&Company also highlights the need for digital leadership. They found that ‘90 percent of top digital performers have fully integrated digital initiatives into their strategic-planning process.’ They say that there has already been an increase in digital focused executive positions. They found that ‘CDO (Chief digital officer) roles doubled from 2013 to 2014 and is expected to double again this year.’

If you’ve been sent to this page and you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do see here. It’s free.

Video clips produced by ybc.tv for the Hospitality Channel, including interview from industry conferences such as the IHIF conference as well as specific Hospitality Channel shoots.

Briefing: preparing leaders for new world of work

Posted on by pmalone

Today’s business leaders are seemingly battling with multiple decisions all at the same time. Leaders are managing ‘Generation Y’ as they enter the workforce, digital technologies requiring a business to be working 24/7, as well as trying to comprehend macro-economic conditions, to name but a few.

This altering world means leaders need to be prepared and multifaceted, and it doesn’t seem like the role of CEO, Chairman and Managing Director are going to get any easier. In this briefing we hear from leaders as well as hospitality experts on the changing dynamic they are seeing. Including:

  • Richard Branson on keeping tabs on everything and everyone.
  • Debrah Dhugga, General Manager of Dukes Hotel on preparing new leaders.
  • Peter Malone, Managing Director of Madison Mayfair on the multi-dimensional aspect of leaders
  • And Graeme Codrington, Futurist at TomorrowToday on changes in leading organisations in this new world
 


If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interviews from industry conferences such as the most recent IHIF conference as well as specific Hospitality Channel shoots.

Briefing: the modern-day leader

Posted on by pmalone

Any leader of an organisation has to command with confidence and assertiveness. To pursue a company’s vision, mission and values. The most successful leaders become synonymous with their brand. Richard Branson is a fantastic example of a charismatic leader who fills his staff with the belief needed to fulfill the ambitions of the Virgin empire.

What can the hospitality leaders of today learn and how will they ensure the successful stewardship of their respective businesses?

In this week’s briefing we hear from industry experts, including:

  • Richard Branson on one of the reasons he has become so successful.
  • Peter Malone, Managing Director of Madison Mayfair, on the multidimensional personality leaders must now have.
  • Sir Nigel Knowles, co-CEO of DLA Piper, on leaders of today becoming closely associated with their brands and organisations.
  • And Debrah Dhugga, General Manager of Dukes Hotel, on preparing a new generation of hospitality leaders.

If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by ybc.hpgcms.wpengine.com for the Hospitality Channel, including interviews from industry conferences such as the most recent IHIF conference as well as specific Hospitality Channel shoots.

Briefing: Managing the hard times

Posted on by pmalone

Obstacles and difficulties are faced by every business. This has, of course, been exacerbated by the economic conditions of the past couple of years.

Many believe we are coming out of recession. However, this still doesn’t gurantee plain sailing when making business decisions. The market is still tough, companies have streamlined their operations in the hope that there will be positive growth at the end of 2012.

In this briefing we hear from an array of experts on overcoming business difficulties as well as the opportunities seen in tough times. Including:

  • Richard Reed, co-Founder of innocent drinks, on businesses that survive the recession
  • Guy Rigby, Head of Entrepreneurs at Smith & Williamson, about markets with growth of 5-10%.
  • And Steve Gilroy, CEO of Vistage UK, on which businesses grasp the opportunities in tough times.
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If you’ve been sent to this page but you’re not yet on the circulation list to receive these regular briefings and you would like to sign up, you can do so here. It’s free.

Video clips produced by yBC.tv for the Hospitality Channel, including interviews from industry conferences such as the most recent IHIF conference as well as specific Hospitality Channel shoots.

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