The looming fear of going defunct plagues many industries but Travel Industry is certainly not one among them. For Travel is not only about visiting and seeing places, but also is about living an experience, the one almost everyone savors.
Providing many other fascinating insights about the Travel Industry to the students of IIM Amritsar, Mr. Nishant Kolgaonkar (Head HR- SOTC), delivered a guest lecture.
Mr. Nishant, started with the importance of innovation in the ever changing dynamic landscape. And also, he emphasized on the point that innovations were and are always a mainstay in travel industry. Giving various examples, from Vikings developing ships to sail, to the parties going on the Grand Tour of Europe in 16th century, to finally Thomas Cook, in the year 1841 organizing the first group tour, Mr. Nishant effectively exemplified his assertion.
He further informed students about the various avenues related to the travel industry like Business/Corporate Travel, Leisure Travel, Sports Travel, Cruises, managing Foreign Exchanges, Trade Fairs, MICE etc.
Mr. Nishant pointed out that for future managers, it is imperative to develop leadership competencies and follow the 5 E model – Excellerate, Empower, Engage, Energize, E-novate. In addition to the above competencies, one of the key hallmarks of leadership is involvement and thus Employee Engagement becomes as important as an organization as it is in and within the leaders.
Though the age has been deemed as an age of technology, it is important to realize that Technology is often an enabler and Human Touch and Relationships are the features that drive the business. Thus Mr. Nishant stressed on the importance of building relationships which can then build upon Customer Loyalty which ensures brand promotion. By giving examples of travel industry and even in case of Financial Instrument Market, the assertion was exemplified.
Finally Mr. Nishant stressed on the importance of looking at sales perspective of the business. Also, looking at the other sides of the business and empowering the customers become very important in this regard. Customer Comfort, Reassurance, Safety could be considered as the three drivers that could enrich the experience of the clientele in the travel industry. In the end, Mr. Nishant exhorted students to devise their own strategy and fit the model to the product, service or experience you’re or you’ll be selling.and fit the model to the product, service or experience you’re or you’ll be selling.