Forces Driving Change in the Hospitality Industry in India | Michael D. Olsen, Prakash Chathoth & Amit Sharma

Competing in today?s global market place is daunting. The global flow of capital is forcing countries to open their doors to free trade if they expect to maintain economic growth within their borders. This imposes many new challenges for executives who now must rely upon their ability to understand what changes will result from this and how they will impact their organizations if they hope to compete successfully in this environment. This translates into the need to think strategically by developing foresight into those forces that will drive this change. This is not a competency that has been achieved by many management professionals who have competed in the free markets of the world and it is even less so in those nations where protectionism was the underpinning of government and business policy. However, in order to succeed in today?s global environment, it is now an essential capability.