Business Health Check Tool

Added on - 21 Feb 2021

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BUSINESS HEALTHCHECK
Table of ContentsINTRODUCTION...........................................................................................................................31.1 Analysis of the objectives of current organization................................................................31.2 Understanding the factors impacting on the business...........................................................41.3 Improvements for the business to grow................................................................................7M 1 Objectives needs to be SMART..........................................................................................8D 1 Ansoff matrix elements helping company in growing.........................................................82.1 Effectiveness of business......................................................................................................82.2 Plan to improve the business and its working.......................................................................9M 2 Evaluation of effectiveness of different areas of business................................................14D 2 Critical analysis of the developed plan which can lead to improvement of business........153.1 Evaluation of current skills of staff and management.........................................................153.2 Devising and developing plan for the improvement of skills of staff and management.....15M 3 Effect of current experience, abilities and skills of staff and management on business...18D 3 Critical evaluation of different methods which helps in developing skills of staff andmanagement..............................................................................................................................18CONCLUSION..............................................................................................................................18REFERENCES..............................................................................................................................20
INTRODUCTIONBusiness health check refers to the overall study, assessment and evaluation of all thecritical and crucial parts or departments of the business which leads to its success. Like a personneeds to be healthy and growing to live longer. In the same way a business also needs to stayhealthy and flourishing so that it can be running for a longer time period. The present assignmentis based on hotel Four Season (Hartwig and Mason, 2016). This is a private chain of hotels andresorts founded in the year 1961 on 12 March and has its branches in more than 47 countries.The present assignment will help in learning about the objectives for which the hotel isrunning. Further it will outline some internal and external factors which affects or hampers theworking and operations of business. Studying of these factors will help business in gettingknowledge of the micro and macro factors which may affect the health of business. Next it willoutline some of he measures which might help in improving the business to grow further. Afterthat the report will study the effectiveness of business along with development of a plan toimprove the business and its working and operations. Furthermore, it will evaluate the currentskills used by management and staff of hotel. At last the report will develop and devise a plan todevelop the skills of management and staff.1.1Analysis of the objectives of current organization.Four Seasons Hotels Limited is a multinational luxury hospitality organization beingheadquartered in Toronto, Canada. Four Seasons has 112 properties in 47 countries over theworld. The company operates in more than 100 Hotels worldwide. Four seasons has the overallrevenue of US $ 4.3 billion and consists of 45,000 employees working under it. Four seasonswas founded in 1960 by Isadore Sharp who established it in 1961. Later Four Seasons built morehotels expanding its business across the several countries and continents.Short Term objectives of Four Seasons-To maintain the company's position in World's premier luxury hospitality company byrendering the customer satisfaction and tastes.To be recognized in efficiently managing the finest hotels, resorts and residence clubs inall the locations in different countries. Will be achieved in 2 years.Long term Objective-To specialize within the hospitality industry by increasing services by 20 %
1.2 Understanding the factors impacting on the businessIn order to understand and analyse the internal and external factors impacting thebusiness of Four Seasons, SWOT analysis, PESTLE analysis and Porter's Five forces ofcompetition for the business are being observed-SWOT analysisStrengths-Four Seasons Hotels has the strong internationally recognized brand nameand the Hotel ranks 4thin the top 50 most searched hotels in relation to World Luxury IndexHotels, 2014. The hotel comprises another strength of having the lowest turnover rates of about15% in 2013, in case of overall hospitality industry. The hotel has been also recognized in the listof 100 best companies to work for in 2016. Other strengths of Four Seasons Hotels includeinnovation, global presence, long tradition and world-class customer service.Weaknesses-Four Seasons as the global coverage in case of Luxury Hotels segment butcurrently the company has acquired market share of just 4.8% as in comparison with itscompetitors such as Hilton Hotels that acquires about 22.8 % in global market. The otherweaknesses lie in the high management cost and charges for exceptional quality services thecustomers turn out to be downfall for the Four Seasons in economic breakdowns in the markets(Forbes and Watt, 2015).Opportunities-Four Seasons consists several opportunities in its expansion of businessin different emerging economies that remains bright spot in capitalizing the investment for thecompany. Four Seasons Hotels can make use of its eco-friendly facilities in order to acquirecompetitive advantage over its rivals.Threats-The main threat arises in the rising of number of competitors in the Hotelindustry with the same amount of services delivered at low prices and another lies within thedynamic political and economic environment of different countries that creates fluctuation inprofit earning for the Hotel.PESTLE analysisPolitical factors-The political and economic disturbance in the important markets acrossthe world such as United States, European Union, China, Japan and India will have higherimpact on the business of Four Seasons Hotels. The political events such as Brexit that iswithdrawal of UK from European Union posses threats to the Four Seasons Hotels. In the Asian
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