Speed of change in environment

Discussion 150 200 words with 2 API references and 3 post response minimum 50 words each response

hapter 3 of the textbook states, “the speed of change in the environment is accelerating, leading to greater complexity and added turbulence, or discontinuity. Technological developments are combining to shorten product life cycles and speed up commercialisation times. The increasing turbulence in the market makes it particularly difficult to predict and, as a result, planning horizons have been shortened. Where long-range plans in relatively predictable markets could span 1015 years, very few companies today are able to plan beyond the next few years in any but the most general terms”

Based on this quote, what do you think is the critical point of this summarized point from chapter 3 as it relates to how markets have shifted due to the pandemic in 2020 and 2021? What do you think companies in industries such as tourism, hospitality, and travel services are experiencing as to the speed and discontinuity of their markets due to the pandemic factors?

POST1 Amanda

I can only imagine the pain tourism, hospitality, and travel services have endured during the pandemic, as I too have suffered without being able to travel! With the world basically on lockdown all of 2020, government policy mandated most of all travel in and out of the United States. The travel companies were unable to actively market concurrently as travel was almost nonexistent(Tourism Marketing During a Pandemic, 2020). The cruise line took a major hit and continues to suffer even at this time. I am not sure how they will ever recoup from this of services, but people love to cruise, so I somehow foresee them being a player again in the travel world. The lack of knowledge regarding when the pandemic will end leaves this business to market for the future. The agencies tried to stay in the minds of consumers with frequent mailings and tons of social ads tempting you with awesome deals to book and travel as soon as it is safe and allowed. They also brought safety to the forefront by utilizing apps to assist clients to know what travel restrictions were in place for different locations(Baidin, 2021).

Some luxury resorts are banking on the people having a continuation of remote working and are catering to those by setting up work hubs in resorts. I believe this is a smart move to try to gain some momentum as those working from home have much more flexibility than ever before and can travel while working as long as their technology needs are met (Tourism Marketing During a Pandemic, 2020). With the resurgence of the , travel hasn’t been restricted in the same way as last year, but consumers are still having major concerns about travel and complications of being able to get back to the United States safely. I think travel for the unforeseen future will have a struggle as so much is still unknown and people fear getting sick in a their own, especially if in a country with underserved healthcare. For those of us who like to travel, we want to take advantage of the bargain trips, and I did in May 2021, but with the increased numbers being seen now I don’t see traveling much until the surge is over as lack of hospital bed availability is terrifying to me! I believe the travel industry will continue to take a hit financially until the pandemic is much more under control.

POST2 Tiffiny

The speed of change in the environment is accelerating, leading to greater complexity quote is suggesting that sustainable innovation is imperative for organizational survival and success in the turbulent market environment of the digital age, especially more so in the current COVID-19 pandemic crisis.

Coronavirus, now globally carrying the status of a pandemic, has led to a worldwide crisis with its effects on the hospitality industry potentially heavier than those of 9/11, SARS, and the financial crisis in 2008. This time, however, the hospitality industry has never experienced and sudden downturn. Putting people at the center of the situation, the virus generates deep fear, confusion, and impacts us in a that this generation has never felt. Of course, on top of this, physical confinement is aggravating the situation.

On a business level, the impacts of the crisis have reached every industry in the world, with the travel and tourism taking a massive hit. According to OAG Aviation Worldwide, the travel restrictions on international flights have caused the global airline industry losses mounting up to $880 billion (Lee & Silvana, 2021). Many hotels find themselves empty and looking to fill the once full lobbies and rooms. Nevertheless, the grave situation has given space for worldwide solidarity with many hotels around the world providing their premises to house medical staff, first responders, or hospital patients not suffering from coronavirus, and with the Delta variant revving up, I don’t see this situation changing anytime in the near future.

POST3 Heather

The pandemic in 2020 and 2021 has majorly impacted all aspects of life, but it has especially impacted the business environment. Businesses have gone from in-person sales to a majority online, from in person to delivery, from thriving to irrelevant, and from one business theory to the complete opposite. Some major examples of this are restaurants that now focus more on delivery. Banks now have shifted their focus to push mobile banking products. Schools ramped up their online class offerings. These changes are a small example of some of the forced changes that businesses have had to make to survive.

Perhaps the most impacted industries have been tourism, hospitality, and travel services along with food. When the world shut down, hotels and other rentals, along with travel entertainment and others in these categories, had their businesses immediately halted. People were afraid to travel whether it was true fear or social pressure. These industries also had to adapt. They used technology to go contactless where they could. They extended their rental periods to long-term rentals such as monthly stays to entice people to feel like it was a quarantine away from home. They pushed helping options such as cabs turned into food delivery. Some companies even ramped up their digital advertising as people were on their devices more. While some of these changes have continued to adapt, very few businesses have returned to pre-pandemic operations. The pandemic has made businesses grow at an even more accelerated rate than discussed in the in order to survive.