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What is hospitality management, and is it the career for you?

Umar Nisar

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What is hospitality management, and is it the career for you?

While the luxury of a 9-5 job is immensely satisfying for many, there are those who are not cut out for this lifestyle. A career in hospitality is for those who are people-oriented, have a leadership quality to them and look forward to new challenges at work. You can also check here for more about BA hospitality management course.

Since, life in this sector is seldom static and offers something fresh each day, you can look forward to an exciting career ahead.

As establishments like hotel, restaurants, resorts and banquets have new customers and enquires almost on a daily basis, the administration has to be proactive at their job. But don’t let this scare you as a career in this industry is far more fun and exciting than any office job.

What is hospitality management?

Hospitality management is an umbrella term for various job roles that involve overseeing administrative work that is done within hotels or resorts. Being on a managerial job role be it as front office manager, banquet manager or hotel manager, you have to ensure that everything within the establishment runs smooth.

Guests like to feel warm and welcomed when visiting a hotel and you have to ensure that they have a pleasant experience. Excellent customer service is at the centre of this sector as it ensures more guests and higher profitability.

The job is certainly for someone who has in-built leadership quality and can take charge of a situation well. Though, the job also comes with many benefits that includes a good pay-package. According to Prospects survey, even assistant managers who are beginners earn anywhere from £19,000 to £40,000 in U.K.

Life in hospitality management

People generally take vacations and check into hotels during vacation or holiday season, hence that time is generally very busy for those who are part of the hospitality sector.

Similarly hotels are open all the time and sometimes evening can be a major rush time or people can check in late at night. This means you will be required to work odd times but this is not a regular norm. Though, you will be required to be on call if a situation arises that needs your immediate attention.

The industry helps in building a lot of useful abilities such as being adaptable and enhances decision making ability. Here you get to meet many interesting people on regular basis and can build a strong network. Also, being surrounded by luxury, good food and finest drinks is a far cry from holding a regular job. Now, before you actually opt for a career in hospitality, you need to make sure that you have the requisite qualification and skillset.

Skills required in hospitality

Going for a good program that can help build your theoretical and practical knowledge is a good way to enter this industry. Apart from this you need some basic skills that are pivotal to hospitality.

  • Communication- Considering the whole sector revolves around customer service and interaction, one needs to be an articulate speaker.
  • Cultural awareness- Hospitality is a global industry and you will be entertaining guests from different parts of the world. Thus, you have to be aware of various cultures and stay open to new things.

Hospitality is among the most popular industry in the world that is growing at a rapid pace. A career in this sector comes with an assurance of stability, growth and good financial remuneration. This means you can never go wrong with this career choice.  

BUSINESS

4 Things Debt Collectors Know That You Don’t

Umar Nisar

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4 Things Debt Collectors Know That You Don’t

By Dean Kaplan, CEO and President, The Kaplan Group

Cash flow is more important than ever. In the middle of a pandemic, very few businesses can afford to have clients owe them money. This means many businesses that used to be more laid back about collecting from late-paying clients are getting serious. As a commercial debt collector, there are things I know about the debt collection process that may surprise you.

1.Nice gets results.

There’s a stereotype of debt collectors as angry and threatening. But most successful debt collectors know that to be effective, you have to listen to people and form a relationship. Your approach to collecting from a client is highly dependent on the reason they haven’t paid. Without listening, you don’t know if a debt isn’t paid because the client is temporarily in trouble, about to go out of business, just disorganized or has a dispute. The more you can get people to talk, the more information they’ll reveal. It’s possible that the debtor will become upset or embarrassed during the conversation. But, the collector must stay calm and reasonable.

2. Debt collection starts before you sign the contract.

Having a solid credit application and laying out terms on all your contracts can make a huge difference in your debt collection. Your credit application should include complete contact information and layout any payment terms, including interest and late fees. Interest and late fees often provide good negotiation points for collection agents. I have frequently offered to waive late fees in exchange for prompt and complete payment.


Make sure that the terms on your contracts and invoices match the terms on your credit application. A reputable collection agent will want to see complete documentation of the agreement and debt. Although I try to avoid going to court, I will not accept a case if I don’t think it can be proved in court.

3. You should avoid going to court, and threatening to do so.

Speaking of court, although many people pay on debt because they’re afraid of legal action, you want to try to avoid it whenever possible. The contingency rate (the amount you pay the collector) is higher if you have to sue and the process is prolonged. This is especially true now when courts are backed up due to the pandemic. A default judgment might get issued within six months, but trial dates are now being set 18 or more months from the filing date. By that time, the customer could be out of business. Once you win a judgment in court, the money still has to be collected, which can take years in some situations. You should never threaten to take a client to court. Once you issue that threat, you have to follow through. If you threaten to sue and then hire a collection agency instead, you’ve made their job harder. Likewise, you should not threaten people via social media. Doing so can backfire and expose you to legal action.

4. Prompt debt collection can save business relationships (and time and money).

When a client owes you money, your first step should be to cease doing work or selling products to them. Unfortunately, this means your client will need to find another vendor. If you spend months or years trying to collect from them, that just gives them more time to build a relationship with another vendor. By sending the invoice to a collection agent promptly, you shorten the amount of time before you can begin working with the client again. Hiring a collection agency on a contingency basis can also save you time and money. Your staff can be focused on their regular tasks and reputable agencies have tactics for increasing pressure to get money flowing faster.

As this new year begins, you’ll want to make sure that all of your accounts are in order. Thinking about debt collection both now and in the future can keep your cash flow steady.

The Kaplan Group, a commercial collection agency specializing in large claims and international transactions. He has 35 years of manufacturing, international business leadership and customer service experience. Today, he provides business planning, training and consultation to a variety of global companies.

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BUSINESS

7 eCommerce Operations Strategies to Ace the Omni channel Experience

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7 eCommerce Operations Strategies to Ace the Omni channel Experience

The eCommerce business is trending worldwide. Wonder why else the world’s richest person would be from the e-commerce industry? Most people prefer shopping online from websites like Amazon, eBay, Ali Express, and so. People who were traditionally confined to shopping from the regular market are switching to the online shopping mode. 

According to Brainvire, a leading eCommerce development company the reasons for the preference for eCommerce are obvious. Firstly, customers get better deals by shopping online than from the local market. Secondly, they can browse all the products from the category before finalizing the purchase. Also, shopping online has a range of benefits that someone does not get from the local market. One of them is doorstep delivery; this was the biggest reason why most people switched to the online shopping mode during the COVID-19 lockdown period. 

For this reason, most businesses also sought the importance of going digital and increasing their digital presence. This way, they offered sales online as well as from their store outlets. Moreover, the digital presence also helps these firms in marketing themselves online. 

Thus, the omni channel eCommerce business model is the most beneficial, which has been accepted in 2020.

7 eCommerce Operations Strategies: 

Here are seven eCommerce operation strategies that will help you get the most out of your omnichannel business model.

  1. Aim big yet go local

Most brands aim to go global and set a strong foothold in the international market. Hence, some of them also go for different websites for the country and global levels. However, some firms, in their pursuit of making their brands a global leader, often tend to forget the country’s local needs and needs. 

Things like a local website with the local language can be the best way to meet the local as well as global pursuits of your business.

  1. Make your brand unique

Not all businesses are lucky to have a monopoly in the market, and most companies have to go through tough competitions. A firm needs to have a good brand voice. 

You can make a brand voice by checking and improving the current content on your website, social media pages, blogs, and so on. 

Another essential factor to consider is to change along with the time. As you have upgraded yourself from a physical store to an omnichannel, it is important to upgrade with the passing time. 

  1. Optimize your website for mobile 

The online business is mostly dominated by smartphones. Most people who shop online do so using their smartphones. Therefore, smartphone eCommerce outweighs that of laptops and desktops. Customers get discouraged due to the slow loading time of a website. 

Making the website as responsive and mobile-optimized as possible will be the key to a better e-commerce experience for your customers.

  1. Use digital marketing options well

Customers won’t stumble across your website unless you are a well-known brand. There are ways to increase the traffic to your website, either organically or inorganically. SEO, i.e., intensive use of blogs and paid search engine results, are the two main options for you. 

You can also put videos and intriguing articles on your social media sites. Using digital marketing options will help you increase brand value and revenue. 

  1. Make use of user-generated content

Apart from making use of the digital marketing options, optimizing other modes like user-generated content, i.e., feeds by the users with elaborate stories of satisfaction with a brand and its products, can help you get better customer engagement.

Many brands have used platforms like Instagram to the fullest of their benefits with the help of user-generated content. 

  1. Using discounts and coupons well

Customers are always in the pursuit of better deals. Using discounts, coupons, and promotional offers are the best way either to attract them or to keep them attracted to the brand. Therefore, using promotional offers helps increase revenue or retains customers. 

You can have good promotional offers for new customers and separate discount offers for loyal customers and increase brand value and revenue.

  1. State clear buying guides

Buying guides for the season help customers in two ways; firstly, they help the customers know what the things they need to purchase and make the purchase convenient for them are. 

It is worth noting that the buying guide does not promote sales but is insightful for the reader to purchase their required product in the right quantity. It also enlists the differences between two or more products from the same category. Therefore, it helps a customer make a sound buying decision.

Conclusion:

Due to the multifaceted nature of omni channel, you have adopted a future-proof business model. You can get better sales both online as well as in the traditional method. With the help of these omni channel strategies, you can give your business the right push it needs. 

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BUSINESS

Find Your Best Loan Installment Plan

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Find Your Best Loan Installment Plan

Best Loan Installment Plan

An ‘installment loan’ applies to the vast majority of both personal and commercial loans extended to borrowers as a large general phrase. Installment loans include any debt that is repaid with deposits or installments that are periodically scheduled. The redemption of a part of the principal sum lent and thus the charge of interest on the loan shall be included with any payment on the installment debt.

Mortgage loans and car loans are forms of installment loans. Many installment loans are fixed-rate loans, aside from mortgage loans, which are variable-rate loans. They are paid an interest rate that is constant from the period of borrowing for the lifetime of the loan.

Types of Installment loans:

Installment loans are known to be two of the more popular forms of loans that people take out. Both types of installment loans are car loans, rentals, personal loans, and student loans.

Mortgages:

If auto loans are for purchasing vehicles, mortgages are for owning a home. Many mortgages generally have a maturity period of 15 to 30 years, as well as a fixed interest rate and defined regular payments that don’t really alter.

Loans for Personal Installment:

Consumers looking to consolidate revolving debt or pay off current credit card debt typically utilize personal installment loans. It is also necessary to take out these loans to support marriages, holidays, or other luxury expenditures. Personal loans should be used as a building stone for long-term financial purposes, such as building credit, in comparison to payday loans, which are used mainly for financial crises.

Loans for Auto:

Auto loans are a type of installment loan that is supposed to be utilized while preparing to buy a vehicle. This kind of loan is usually repaid within a range of 12 to 96 months. Take notice, though, that not all lenders have monthly installments of the same length.

Benefits of Installment loans:

There are many explanations why several individuals, including repayment length, higher credit cap, and successful use as some of its advantages, favor installment loans over any other form of a loan. In particular, here’s a roundup of the reasons why you may be the best with an installment loan.

Support your credit score build-up:

You would also be allowed to repay if you have a poor credit score. In reality, it would allow you to build up your credit score by borrowing money and keeping to your repayment plan. This would boost your odds in the future of having decent interest rates.

Fewer interest rate:

Installment loans often provide the security of ensuring that by a defined date the mortgage will be paid off. Your mortgage can be paid off in full once you have finished paying the number of payments needed by the lender. You will get out of debt quicker and would definitely pay less interest if you get a loan for the shortest payment period you can realistically handle.

Financial Burden Reduction:

Being willing to take out a personal loan would financially take the pressure off you. Since money problems will trigger great tension, there’s one less thing you’ll have to think about. Your loan may not be anything to think about as long as you are borrowing within your budget.

The borrowing limit is high:

Since installment loans have a more extended maturity period, you will be granted a higher credit cap by banks and other lenders. When you need a huge sum of capital, particularly during crises, this is extremely beneficial. Plus, the risk of qualifying for several loans in the future is eliminated by a greater credit cap.

Be sure you accept the terms and conditions of the loan that you commit to if you are seeking an installment loan. If you appreciate what is being sold, with your unique case, you should carefully shop around for the right installment loan.

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