Competitive success for foreign entrepreneurs in Nicaragua
MS in Management
Competitive success is important in a new global environment. Due to attractive real estate prices in Central America, many foreigners are making Nicaragua their new home. Investors are noticing increased opportunities to open up a business venture whether it is a hotel, restaurant or other small business. As a country with a rather unstable past, Nicaragua is changing rapidly. Owning a business in Nicaragua is becoming commonplace. How then do these establishments achieve success and what are some of the challenges to becoming profitable? I asked myself what the situation looked like from the inside and decided to investigate on the same. This case study bounded by time and place, researched one hotel's strategy through its management, employees, and guests. The investigation that follows outlines reasons for competitive success and the challenges of a foreign venture. When evaluating strategy development, each interviewed group notices internal hotel processes. They notice that success in one hotel's case relies on what can be grouped into two categories: customer service and attention to detail. Through strategy focus, the hotel in this case study is successful. Although factors such as gender, hierarchy, politics, and language are ongoing challenges, the hotel owners are flexible enough to develop resources and exceed customer satisfaction standards. This provides a perceived value that increases competitive advantage within the hotel industry of Granada, Nicaragua.
Lombardo, Melissa B., "Competitive success for foreign entrepreneurs in Nicaragua" (2006). Capstone Collection. 2295.