The Mbo Research Of State-Owned Hotels In Penglai, Shandong

Since the 1980's,as a way of business abandon and withdrawal, management buyout has been regarded as an effective method in reducing the corporate' high agency costs, consummating the corporates'govemance and increasing the efficency in administration and management. Therefore, MBO has greatly widespreaded and been well used in the Western nations. In China, as a system innovation, MBO has become one of the most important points and received extensively notice.Hotel industry is one of the three principal industries in tourism. With the quick development of Penglai city's tourism and immigration of famous hotels management groups at home and abroad, state-owned hotels in Penglai city have accumulated so much serious problems, which have restricted themselves to grow and development. All the problems must be totally got rid of in the process of state-owned coiporates'reforms. MBO offers an effective method for state-owned hotels reforms in Penglai city and should be actively explored for the system reforms. In this paper, the author has dwelled on the reasons, significance, scheme-design and MBO procedure of the state-owned hotels in Penglai city.The basic purpose of this paper is to draw MBO into the system reforms of state-owned hotels in Penglai city, so as to speed up the reforms, improve the reforms and eventully promote the development of the hotel industry and tourism in Penglai city.The paper has made use of several study methods, such as testimony analysis, documents study, systematic analysis, and investigation study, declaring and demonstrating the view that "the state-owned hotels in Penglai city should actively explore MBO in order to obtain the good outcome of the system reforms". The main contents of this paper include three parts: what is MBO, why should state-owned hotels in Penglai city practise MBO and how should they do that.The last part of the paper outlines all the study and stresses the view again. Besides that, the anthor points out the new ideas and drawbacks in this study, which must be resolved in the future.