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anaferia

Capital expenditure management to drive performance | McKinsey - 0 views

www.mckinsey.com/...nagement-can-drive-performance

shared by anaferia on 26 Aug 22 - No Cached
  • companies that reduce spending on capital projects can both quickly release significant cash and increase ROIC
  • As the cost of capital goes up, discipline in managing large projects will become increasingly important.
  • organizational drivers that impede capital expenditure management affect all stages of a project life cycle, from portfolio management to project execution and commissioning.
  • ...3 more annotations...
  • essential to identify strengths, areas of improvement, and the value at stake.
  • capital expenditure management leaders face similar challenges to those in other functions that have already undergone major productivity improvements: often these challenges are not technical problems but instead relate to how people work together toward a common goal
  • organizations have a significant opportunity to fundamentally improve project outcomes by rethinking traditional approaches to project delivery
  • anaferia on 26 Aug 22
     
    Businesses may optimize the life cycle of a capital expenditure project by concentrating on three areas: capital strategy and portfolio optimization, project development and value enhancement, and project delivery and construction. Organizations must develop a transparent and carefully evaluated baseline and capital budget that provides a clear knowledge of the total capital expenditure budget for the next years, as well as realistic cost and time predictions for the organization's portfolio of capital projects. While claims on capital projects are relatively prevalent, smart management may keep them under control and allow owners to retain considerable value.
cdamo003

Why hotels need to focus on sustainable technology | Hotel Management - 0 views

www.hotelmanagement.net/...o-focus-sustainable-technology

hotels focus sustainable technology hotel management

shared by cdamo003 on 16 Mar 20 - No Cached
  • HG and Marriott International have eliminated plastic straws in thousands of hotels worldwide, removing an estimated 1 billion straws from the ocean and landfills.
  • Both brands also are cutting out single-use bottles in the hotel bathroom, estimating to remove more than 500 million plastic bottles every year from the environment.
  • the largest hotel brands will be rolling out room controls within their loyalty platforms that enable guests to preselect the room temperature, lighting mood, TV, music, blinds and more
  • ...6 more annotations...
  • Using the digital device that guests already have, hotels can reduce (or eliminate) the use of paper—saving tons of water and chemicals used in paper processing—and reduce (or eliminate) wasteful plastic keycards
  • The future is keyless, paperless and has less plastic
  • sustainability is more than just a travel industry buzzword or term travelers drop to sound hip.
  • According to a recent survey of millennials, 87 percent would be more loyal to a company that helps them contribute to social and environmental causes and more than nine in 10 millennials would switch brands to one associated with a cause. 
  • More than 5 billion people are now connected to a mobile network, equivalent to roughly two-thirds of the world’s population. Mobile devices are a key enabler of sustainable economic growth and a major contributor to the delivery of the United Nations' 17 sustainable development goals. 
  • And as technology evolves to seamlessly link functionality within the hotel with guests' mobile devices, the synergistic forces of guest satisfaction, cost reduction and environmental sustainability will produce a greener planet for everyone to enjoy.
  • salmanalabiooani on 16 Mar 20
     
    This article shows how important sustainability is in the hotel industry and how innovation and technology can help companies sustainability efforts. Even though technology like the smartphone has a huge footprint on the environment, they can be used to help in sustainability such as hotels using the smartphones that guests already have to perform some functions without having to use paper. Mobile phones can also be adapted to help in running of smartrooms to improve customer experience and also reduce the footprint on the environment.
  • ...1 more comment...
  • jeanique13 on 09 Jun 20
     
    Hotel Management is the backbone of the future in development. Technology plays a huge role in the extensions of green technology in hotels. Many properties are now implementing reward systems that can help reduce waste, mobile extensions with the reuse of key systems and smart rooms with the control of light, temperature and TV systems to help with personalization while saving energy and costs.
  • jbjer002 on 17 Jun 21
     
    A quick read but very enlightening statistics about generational feelings and loyalty to green technologies in hotels.
  • cdamo003 on 16 Feb 22
     
    It is becoming more common for hotels to become more sustainable and green in there business practices. Guests are finding these practices to be expected more often that none. Hotels are now becoming more efficient on there sustainability efforts by utilizing technology in order to reduce costs as well.
rosedelice

How to Combat the Negative Side of Consumer Behavior With Societal Marketing - 0 views

smallbusiness.chron.com/-societal-marketing-81841.html

how to combat negative consumer behavior

shared by rosedelice on 20 Feb 22 - No Cached
  • Some companies treat corporate social responsibility primarily as a form of branding. For instance, a company that donates 10 percent of profits to cancer research might develop a marketing plan to let the public know about its good works so customers will feel better about buying its products. A more comprehensive approach to societal marketing would include an examination of the company's products and services and what effect they have on the customer and the society.
  • Consumers generally say they want to buy products that are more environmentally sustainable or socially responsible, but that doesn't translate to actual sales if the product costs too much or doesn't perform as well as its rivals. It might seem as if there's a gap between what customers say they want and what they really want, but in reality they want it all. An unpleasant-tasting, expensive brand of fair trade coffee is not going to outsell a delicious and affordable rival just because it is fair trade. However, a delicious and affordable fair trade brand could do very well. The fact that the coffee is fair trade is a benefit to the consumer, but only if the coffee meets the customer's other requirements for taste and price. Effective societal marketing treats the social responsibility aspect as an extra benefit to choosing an already fine product.
  • Sometimes a company can make its marketing campaign more socially responsible by making relatively small changes to a popular product. For example, if a restaurant offers a children's meal option including a grilled cheese sandwich, chips and a soda, it could improve the menu by offering fresh fruit and milk or juice as options. Some parents will still decide to order the chips and soda, but some will choose the fruit and milk. The company is giving customers what they want either way, but by including healthier options the company is doing what it can to have a positive impact on society.
  • rosedelice on 20 Feb 22
     
    Consumers generally say they want to buy products that are more environmentally sustainable or socially responsible.Effective societal marketing treats the social responsibility aspect as an extra benefit to choosing an already fine product. The company needs to give customers what they want either way by including healthier options.
amoon008

Green Computing | University of Puget Sound - 0 views

www.pugetsound.edu/...green-computing

computing; university; green Puget Sound;

shared by amoon008 on 20 Feb 22 - No Cached
  • Technology Services (TS) supports sustainability in several ways. Examples include: Purchasing from Environmentally Committed Companies Participating in Electronic Recycling Programs Deploying Virtual Technologies Limiting Printing and Recycling Paper
  • Responsible handling of electronic equipment is critical in order to minimize the university’s impact on the environment. TS purchases campus computers from Dell and Apple.
  • Dell also banned the export of their electronic waste to developing nations. They offer a strong trade-in program for used equipment. Dell focuses in every way on being environmentally and ethically responsible corporate stewards.
  • ...9 more annotations...
  • Dell supported a multi-stakeholder group in developing the Electronics Products Environmental Assessment Tool (EPEAT). All Dell computers purchased by the university meet the EPEAT standard
  • Outdated Apple equipment is processed through Apple’s Trade-In Program, often for purchase credit. Apple either refurbishes the equipment or recycles it in an environmentally safe manner.
  • All electronic waste on the Puget Sound campus is recycled in one of the following ways:
  • Apple focuses on a comprehensive strategy for their machines, with specific goals for each phase of product development, use, and disposal. Every computer Apple sells has earned the highest rating of EPEAT Gold.
  • Other outdated equipment is processed through the university’s recycling partner, GreenPC Electronic Recycling. Such equipment is then refurbished and resold to other users.
  • By employing virtualization technology for servers and desktops, Technology Services promotes sustainability while also improving services!
  • Through PrintGreen, instituted in Fall 2012, students were allotted 750 free prints each semester - an amount that the majority of students did not exceed based on past usage records.
  • The ultimate goal of PrintGreen is to provide students with better information on the environmental impact of their printing and to promote the sustainable use of campus resources.
  • Recycling bins are placed prominently in all computing labs, Print & Copy Services, and TS offices.
  • amoon008 on 20 Feb 22
     
    This article talks about what the University of Puget Sound in Tacoma, WA is doing regarding green computing on campus and how their students can also get involved.
dvieg001

Hotels in hackers' sights as technology replaces personal touch | Financial Times - 1 views

www.ft.com/...f3-e620-4a5f-8735-0b7a824c2912

Technology Hotel hospitality software tech

shared by dvieg001 on 23 Jun 22 - No Cached
  • Hotels and hospitality businesses are now the third most targeted by cyber attackers of all industry sectors.
  • they have become a rich mine of data for hackers with nefarious intentions.
  • Hackers see international hotel chains, which process a huge volume of transactions, as easy pickings
  • ...6 more annotations...
  • he increased use of technology to replace face-to-face services such as check-in and on-site payments has only raised this risk.
  • One of the most high-profile cyber incidents in recent times was the breach of Starwood’s database in 2014, before the group was bought by Marriott, the world’s largest hotel chain. That hack, which was only discovered after the deal, exposed the data of about half a billion customers, Marriott said, when it revealed the impact in 2018.
  • The company sped up planned investment into data security and improved technology, such as software that detects suspicious cyber behaviour in real time, Van der Walt adds.
  • As cloud computing services have expanded, hotels have pushed more data storage towards external holders such as Amazon Web Services or Oracle
  • Many hoteliers additionally employ third-party agencies to manage credit card details and keep different forms of data separate:
  • And with guests demanding an increasingly personalised and individually-tailored service, particularly from the well-known hotel brands, data is likely to remain a precious commodity in need of protection.
  • dvieg001 on 23 Jun 22
     
    This article explains how and why hotels went from being in the bottom 13% to the top 3 most targeted industry for cyber attacks. It talks about how the implementation of technology to handle customer date has made the industry vulnerable and also how corporations are battling the issue by using separate third party companies to store data and handle credit card information.
deranique

Experts at Davos 2023 sound the alarm on cybersecurity | World Economic Forum - 0 views

www.weforum.org/...ity-storm-2023-experts-davos23

Hospitality Technology Cyberattacks Internet

shared by deranique on 26 Feb 23 - No Cached
  • 2023 will be a consequential year for cybersecurity.
  • "There's a gathering cyber storm,"
  • "This storm is brewing, and it's really hard to anticipate just how bad that will be."
  • ...17 more annotations...
  • cyberattacks such as phishing, ransomware and distributed denial-of-service (DDoS) attacks are on the rise.
  • Cloudflare
  • a major US cybersecurity firm that provides protection services for over 30% of Fortune 500 companies
  • "There's been an enormous amount of insecurity around the world,"
  • "I think 2023 is gonna be a busy year in terms of cyber attacks."
  • Experts warned that cyberattacks are increasing in sophistication and frequency.
  • “This is a global threat, and it calls for a global response,”
  • “This is a global threat, and it calls for a global response and enhanced and coordinated action,” Jürgen Stock, the Secretary-General of the International Criminal Police Organization (INTERPOL),
  • “The key to winning the battle against cybercrime is, of course, to work together to make it a priority across the geopolitical fault lines.”
  • This concern has been raised particularly around critical infrastructure sectors like energy, public transportation and manufacturing. SecurityScorecard, a US cybersecurity rating and analysis firm, reported recently that 48% of critical manufacturing companies surveyed were at significant risk of a cyber breach.
  • “Vulnerabilities within the critical manufacturing sector haven’t gone unnoticed by cybercriminals either,” said Aleksandr Yampolskiy, SecurityScorecard's CEO.
  • The Forum's report also notes that the potential targets for cyberattacks are increasing. Today, targets include not only government agencies or major corporations, but largely any organization that handles consumer data—no matter how small.
  • There is no such thing as a hundred percent security. It's about resilience in the face of insecurity.”
  • “
  • Consumers, too, need to increase their cybersecurity awareness in 2023, experts say.
  • As more things get connected to the internet there's just more risk. ”— Matthew Prince, Cloudflare CEO
  • Zero Trust approach to cybersecurity, which creates a framework that eliminates implicit trust and ensures that any user—even those who are supposed to be inside an organization's network—is authenticated and validated at every turn.
amoon008

Tackling Security Threats In The Hospitality Industry | MetaCompliance - 0 views

www.metacompliance.com/...ts-in-the-hospitality-industry

security threats hospitality industry

shared by amoon008 on 27 Feb 22 - No Cached
  • The hospitality industry faces vast security threats, making it a natural target for cybercriminals because of the value and volume of personally identifiable information that these organisations hold.
  • Marriott, Radisson Hotel Group, InterContinental, Four Seasons, and Hilton Hotels are just some of the major corporations that have hit the headlines in recent years as a result of a data security attack.
  • approximately 55 million online hotel bookings are affected by fraudulent websites and call centers posing as hotel websites, according to the American Hotel and Lodging Association.
  • ...7 more annotations...
  • The majority of all cyber-attacks can be traced back to a phishing email that tricks the victim into divulging their credentials or downloading malicious malware.
  • A study conducted by Intel found that 97% of security experts fail at identifying phishing emails from genuine emails.
  • many hotels becoming completely digitalised in a bid to gain competitive advantage and keep up with online travel agencies such as Expedia and Hotels.com
  • Worryingly, ransomware is evolving into a new type of threat where cybercriminals are not just encrypting data but are also stealing it and threatening to release it on the internet
  • In recent years, hackers have been deploying new tactics and Distributed Denial of Service (DDoS) attacks have been growing in popularity. This type of attack is an attempt to make an online service unavailable by overwhelming it with huge volumes of traffic from multiple sources to cause great damage. This can include loss of data, loss of revenue, reputational damage, and a loss of customers.
  • According to a survey, almost half (44%) of firms have experienced a significant, business-altering data breach caused by a vendor.
  • With the hotel industry increasingly prone to malicious cyber attacks, there are a number of ways organisations can combat cyber security threats
rnobl005

How Facial Recognition Is Shaping the Future of Conferences - Skift - 5 views

skift.com/...ping-the-future-of-conferences

shared by rnobl005 on 16 May 18 - No Cached
  • How Facial Recognition Is Shaping the Future of Conferences – Skift
    • rnobl005
      rnobl005 on 16 May 18
       
      MODULE 2: Hardware and Software (Rebecca Noble) I did a deep dive into recent developments in the hospitality software world and came across this article from September of 2017. It focuses on facial recognition software and there were some really great takeaways that I thought would be beneficial to share with all of you. The software mentioned here definitely falls under Application Software. The article gives multiple examples of how facial recognition software can be utilized in the hospitality industry, specifically events and conferences. The main benefit of this from an event planner's perspective is easing the registration process which the article mentions is one of the most difficult parts of event logistics. Coming from an events background I can definitely attest to this statement. In one instance, Zenus (the software mentioned) made the check-in process run 5 times faster for attendees to uploaded their photo to the system compared to those who didn't. Thanks to this innovation, event planners can use their time more efficiently. Instead of focusing on the headache of check-in they can make sure the actual conference is running on track. The article also says that it's not as expensive as you would think. Additionally, this benefits attendees too because they can zip through registration and get right to the trade show floor or speaker they want to hear. The end of the article mentioned another application of the facial recognition software: a "smile swag" vending machine. Hampton Hotels tapped into the experiential aspect here - people were interested in getting a prize but they also wanted to see how the machine worked. What I liked about this is that it made technology fun. I noticed a lot of students in the lecture video thought that technology puts barriers into the hospitality industry because you lose the personal connection. But here software doesn't come off as cold. Hampton encouraged people to smile and in doing so hopefully g
  • High-tech software companies and event production firms are rolling out new technologies
  • improve event security, streamline the check-in process, and measure the attendee experience.
    • rnobl005
      rnobl005 on 16 May 18
       
      These are some of the benefits of incorporating the facial recognition software at a conference or event.
  • ...7 more annotations...
  • speeds up the check-in process, prevents registration fraud, and adds an extra level of security to an event or conference by ensuring that the person who registered for the event is actually the person attending
  • Of the more than 250 guests that attended, most of whom were in-house corporate event planners, 126 used the facial recognition check-in, resulting in a process that was five times quicker than the barcode or QR system used at the previous year’s events.
    • rnobl005
      rnobl005 on 16 May 18
       
      Here is where the article mentions the software's impact on how much it can speed up the check-in process. Attendees don't necessarily have to participate, it's more of an additional tool. Not everyone may be a fan of this type of integration at an event but I definitely would be.
  • “insanely cost-effective” option,
  • facial recognition can drive down the costs of check-in to less than a dollar per attendee.
  • You can use a basic Android phone or an iPhone or tablet to work with the process, so you don’t have to invest a lot of money to make that work for you,” Wynant said.
    • rnobl005
      rnobl005 on 16 May 18
       
      I thought this was a really smart feature. The software works on platforms that companies already own potentially so there is little overhead financially.
  • Hampton Hotels partnered with agencyEA to create a vending machine that used facial recognition technology to dole out “smile swag.”
  • I think brands are starting to see it as having a really good opportunity to broaden what some of their goals are and engage audiences in new ways
robfitzpatrick

Virtual event platform market to see skyrocketing rise as global companies move operations to remote working | TravelDailyNews International - 1 views

www.traveldailynews.com/...e-operations-to-remote-working

shared by robfitzpatrick on 06 Oct 20 - No Cached
  • The recent turn of events in the global economy have created a need a for a rapid adaption to the situation.
  • Virtual Event Platform Market have been ideal in transitioning to remote working, ensuring business continuity.
  • corporate enterprises will all migrate to virtual event platforms to tackle the going COVID-19 pandemic.
  • ...12 more annotations...
  • collection of registration data helps virtual event organizers to gain actionable insights for decision making operations.
  • integration of networking capabilities to establish connectivity among attendees
  • network-based platforms enable attendees to connect and schedule appointments with sponsors, performers and exhibitors.
  • Virtual fair, conference, and trade show platform providers are entering into strategic partnerships and collaborations with innovative technology providers in order to procure and integrate technologies like artificial intelligence (AI) and Deep Learning into their solutions.
  • virtual event platforms are expected to collected copious amounts of data
  • identifying the prominent consumer sentiment to deliver improved and customized solutions.
  • will allow the vendors to adapt to the changing needs of businesses and institutions.
  • deploying cloud-integrated virtual events management and hosting solutions for emerging end-users operating in banking, financial services, and insurance
  • healthcare and consumer electronics industrie
  • virtual conferencing solutions for medical institutions and societies in order to virtually accommodate high profile meetings with heavy public throughput.
  • operating in healthcare and research and academia industries as professionals rushed to gain insights on the clinical studies performed to tackle rising COVID-19 infections.
  • are gaining technical support by forming partnerships and collaborations with leading networking and connectivity technologies providers.
  • robfitzpatrick on 06 Oct 20
     
    The article talks about the switch companies are making from in-person to virtual event platforms. With the current pandemic and the increase of remote working, virtual events are gaining in popularity. They are convenient and allow attendees to network and connect with sponsors, performers, and exhibitors digitally. Virtual event platform companies are using the cloud to integrate customizable solutions for clients. They are also engaging in collaborations and strategic partnerships with innovative companies to incorporate new technology solutions such as AI and Deep Learning into their platforms. This technology also enhances data collection from your attendees that businesses and organizations will use to identify consumer sentiment and deliver customized and improved solutions on future events. Vendors will use this data to develop new strategies for technology enhancements and modifications to their virtual content to adapt to businesses' changing needs. This technology isn't just being used in the hospitality industry. End-users in many different sectors such as banking, financial services, healthcare, and academia, are using this technology to stay connected for high profile meetings and share information to provide better research on COVID-19. These businesses are partnering with networking and connectivity providers to gain technical support and collaboration. This will be a trend that will significantly impact events in the hospitality field as it provides convenience for attendees and cost savings for the companies as they do not need to spend on venues, F&B, and hotel accommodations.
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