Get Your Assignment Done at the Most Affordable Prices
Get Your Assignment Done at the Most Affordable Prices
10 Pages 2563 Words 17519 Downloads
Presently, innovative technology has enabled the business firm to serve the customers at global level and provided them different kind of services, in both goods and service industry. Additionally, technology allows the companies to manage the flow of information in the firm. Information Technology is the collection of products and services which help in converting the data into useful and easy-to-use information (Ip, Leung and Law 2011, p. 534). It helps in increasing the operational efficiency and productivity of an organization. It also helps in developing the skills of the employees and leads to the growth of the service and manufacturing companies.
The IT industry provides many services like networking, testing, development of database, security services, operational support, system architecture, documentation, application development, etc. It can also serve as an important source for e-governance as it provides easy access to information. In this direction, hospitality industry is also implementing different technologies to strengthen its performance and serve global customers (Nikolis 2008). Although, use of different technology applications in the hospitality industry helps in saving the time and completing the work in a definite time period, but it has also created several issues for the hospitality industry (Collins and Cobanoglu 2008, p. 77). The main focus of this report is to explore the emerging technological issue that has significant impact for the management of business firms; those are operating in hospitality industry.
All the firms, which are operating in hospitality industry has implemented different software applications to administer their activities and serve their clients and guest is a better way. But, it is becoming an emerging issue in this industry that which technology of software application offers a strategic value to the company (Perini 2011).
The main focus of this report is to explore the emerging technological issue of PCI compliance and its impact for the management of business firms in hospitality industry. In order to achieve the aim of this report, it is imperative to develop some objectives, which are as follows:
Recently, technology has become very much complicated. Adoption and implementation of new system or software application should be based on the analysis of different strategic factors and issue associated with the technology. As the hospitality industry is continuously growing, information technology plays an integral role in its success to serve customers over globe (Hunter 2009, p. 52). According to Ip, Leung and Law (2011, p. 537), it is essential for the organizations to assess technological issues because lack of technology experience and lack of understanding about the software application will lead negative result in long term scenario. This section of this report explores about the different emerging issues related to technology in hospitality industry and its concern for the future of the industry.
3.2. Clarity about the Concept of Payment Card System Data Security Standards:
In this technological era, where human life have become technological rather than social, payments cards have replaced value of cash transactions in the buying process (Haley, Connolly and Cobanoglu 2009, p. 1; Levin and Hudak 2009). PCI DSS can be defined as a set of rules and instructions which commence the needs of all the business firms that allows credit cards and other payment cards (Lorden 2009). Thus, it is essential for the firm to compliance with the standards of PCI to assure the security of data and information of consumers (McMillan 2009).
It has been asserted by Tenczar (2008) and Lorden (2009) that as the hospitality industry serve global consumers, it is critical to manage transactions of cash without using payment cards such as credit cards, debits cards, all kinds of stored value cards, etc. Additionally, cashless payment also offers different advantages to both the company and consumers. It has become a status symbol in the society for individuals to having a payment card. According to Cobanoglu (2007), in hospitality industry, where guest books the services of hotels, airline and tourism firm over its websites, through telephonic conversations, etc. payment cards enables them to pay for the services and booked all the facilities in advanced without going to the company’s office or branch.
According to the PCI compliances, firms should implement following practices (Cobanoglu 2008):
In order to implement the process of PCI DSS, it is essential for the firms to include different participants, such as company that issue credit card, council of PCI security standard, banks, etc. (Connolly and Haley 2008). Furthermore, Connolly and Haley (2008) has stated that in hospitality industry, it is the responsibility of the firms to protect their guest and their assets, thus the management should consider the security of personal and financial information of customer as an invaluable activities, which is expected by all the guest.
Our intention is to help numerous students worldwide through effective and accurate work.
3.3. PCI DSS and Hospitality Industry:
In order to manage the operations and strategic activities of hospitality industry at global world, PCI compliances has become an integral part (Tenczar 2008). If the firms in hospitality industry do not compliance with PCI standards, it would become a serious concern for the firm to become successful in the industry. In order to implement all these standards in the industry, business firms should think about some important points very cautiously, which are:
3.4. Organizational Needs of PCI DSS Compliance:
There are several reasons behind the increasing issues of data breach and poor security system in the firms, which are as follow:
Thus, as per the discussion above, it can be concluded that PCI DSS has a significant role for the business organizations, mainly in hospitality industry. PCI compliance at all levels of hospitality industry to manage all the operations securely has become a critical issue. It is essential to offer financial stability to the firms and well as improve the market credibility of the industry in the global market. Without implementing the payment card system, it is not possible for the hospitality industry to serve consumers at global level. Although PCI compliance is not a single solutions to prevent security breach 100% but it is significant to secure the information at high extent. Implement of innovative technological solutions is a need to become successful over globe. Thus, this issue of PCI DSS compliance is also significant for the hospitality industry.
Ignorance of PCI DSS can create several threats for the companies and harm their market images. Lack of standard security measurement will lead negative image of hotel and customer would not use the services of the hotel. It would ultimately reduce the strategic value of other operations of the firm. Additionally, compliance with PCI DSS would offer several opportunities to the hospitality industry such as safe and secure transaction of cash, competitive advantage to the companies.
According to the above discussion, compliance of PCI DSS also minimizes the risk of security breach and information vulnerability, which ultimately decrease the legal cost and improve financial stability. Furthermore, PCI compliance also allows the hospitality industry for safe and secure third party transaction. If this issue of PCI is not resolve by the hospitality industry, it would become a serious concern for the coming future, thus the firm should improve the networking practices.
In order to resolve the problem of data breach and information vulnerability, it is essential for the hospitality industry to improve the practices and applications of networking. Thus some suggestions are as follow:
Implementation of Privacy Culture for Guest: In all over the organization, there should be a culture of guest privacy. By implementing a privacy culture, it would easy to explain to guest that their information is safe and chances of data breaching are minor. The culture of privacy can be executed through sound documentations and maintaining different security and ethical codes (Tenczar 2008).
Elimination of Records: In order to resolve the issue of security breach, companies should also eliminate all the paper records about payment cards and personal information of guests. Hotel management should use computer systems with different logins and password for each entry. Access of common login detail should also ignore by the management (Perini 2011).
Recruiting Qualified and Talented Staff in the field of IT: In order to execute PCI DSS, there is need of experienced and knowledgeable personnel in the Hotel. Thus, firm should recruit candidate, who are qualified in this areas and who have knowledge to use system software applications.
Introduction of Adequate Training Programs for the Staff: Compliance with PCI DSS is also dependent upon the understanding of this concept. In order to improve the knowledge of staff about PCI standards and significance of payment card security, hotel management should give training to the staff. This training would also helpful to develop security culture in the firm (Nikolis 2008; Lorden 2009).
Developing Mutual Understanding between Vendors and Top Management: Successful compliance with PCI DSS is based on the combined efforts to hotel, staff, top management and vendors. There is a need to develop mutual understanding between vendors and top management of the firm. Hotel management should also offer some benefits to the vendors; so that they can security measure for payment cards as these applications are not developed by hotel in house (Berezina 2010, p. 230).
Apart from all these suggestions hospitality firms should also concentrates implementation of secure applications of networking, firewall protection, create awareness in the hotel about PCI compliance and their significance, giving different ID to all the customers, involvement of back and card companies, implementation of on-site IT departments, etc. All these action would support the hospitality firm to avoid the issue of security breach and improve the ability of the firm to manage secure transaction and protect data of the customers.
INTRODUCTION The report focuses on external factors of Land Rover. An overview of the company is presented and the strategies adopted by the company are discussed. Analysis of the company's macro environmental factors is done by PESTLE analysis and Porter's Five Force analysis. The competitors of...ReadMore7 Pages 1772 Words 3417 Downloads
INTRODUCTION Getting a sponsorship is not an easier task because in order to do the same significant efforts is being made by the manager of company (Sponsorship, 2016). This is because, if it is not taken then in the given circumstance it will become very difficult for the manager of enterprise...ReadMore7 Pages 1860 Words 3825 Downloads
Introduction to Visitor Attraction Management Visitor attraction management is essential for growth and development of any country. The main aim of the project is to identify the need of attraction management and evaluate it. Visitors are very important for the country to develop the growth of the...ReadMore20 Pages 5021 Words 6681 Downloads
INTRODUCTION Innovation is the process which is highly concerned with the offering or providing customers with unique experience. In the highly competitive business environment individuals can attain success only when they come up unique ideas and products or services (Greenhalgh and et.al.,...ReadMore8 Pages 2082 Words 6256 Downloads
INTRODUCTION Risk is uncertain in the nature. Risk management process help to identify and properly assess the risk in the effective manner. That will help to take better decision and resolve problems. It may be negatively and positively impacting on business so that's why should properly analysis...ReadMore6 Pages 1539 Words 6307 Downloads