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Business Health Check Analysis

   

Added on  2020-10-05

12 Pages3587 Words324 Views
Business Health Check

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Analysis the objectives of the business............................................................................11.2. Explaining the factors affecting the business..................................................................21.3 Determine potential improvements to the business organization.....................................4TASK 2............................................................................................................................................52.1 Review the effectiveness of the business.........................................................................52.2 Develop plans to improve the business............................................................................6TASK 3............................................................................................................................................63.1 Evaluate the current skills of management and staff........................................................63.2. Devise and justify plans for the development of skills for management and staff..........8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONBusiness health check is a key part of that process. BHC is a defined as a currentcomprehensive assessment of the essential factors of business. There are majorly two parts of theBusiness health check and it is also known as Business vitality check. In this process of BHC,the strength and weaknesses are evaluated and it also describes the ways to improve it. In thisreport The Milestone Hotel has chosen for assessment. This reports also discuss the long termand short term objectives of business. The objectives of business are achieved by meeting the'SMART' criteria. Further the report also explain the factors that affect the operation of business.Pestle Analysis, Porter's Five Forces Model, SWOT analysis and Ansoff's Matrix, all thesemodels are discussed in this report. Moreover, the current skills and traits of management andstaff is also included in this assessment. TASK 11.1 Analysis the objectives of the businessThe Milestone Hotel in UK is considered to be one of the well known organizations. Itwas built as a house in the year 1884 by John Freeman-Mitford. Then in the year 1922, it wasconverted into a hotel. Cited firm aim at understanding the need and requirement of customersand take initiative to improvement them appropriate manner. The vision and mission of companyis to produce aspirational quality to all and regain its leadership by meeting the changingdemands and needs of clients and developing competitiveness (Grasso and et.al, 2017). Mission, Vision and objectives of The Milestone Hotel.For achieving the targeted objectives and goals, The Milestone Hotel is setting someobjectives to become the leader in hospitality industry. Majorly there are two types of objectivesand goals of the company such as long term goals and short term goals. Long term goals arethose goals which can be achieved within or more than one year while short term goals are thosegoals which can be achieved within or under 6 months of period.The short term objective of The Milestone Hotel is to meet the generalgoals like any businessis started to make or earn profit and earn maximum return by investment of shareholders withinsix months.

The long term objectives are also very important as company does not want to end up therebusiness in short time. Businessman start their business with the intention to remain and sustaintheir business for long time. The long term goals of The Milestone Hotel is brandrecognition.Brand awareness and recognition of name is not an easy task. This is a long term task but is notend or stop as brand recognition is an ongoing procedure. Company is following the criteria of SMART goals such as goals and objectives shouldbe specific, it should be measurable, achievable, relevant and time bound. In order to gain longterm and short term goals of company, it is very important that the goals should be specific andclear. If it is not understandable and clear, company cannot focus and even efforts are also wasteif goals are not clear and specific (Harris and et.al, 2017). Another factor that company should keep in mind is that the set goals should bemeasurable which means source of management should be identified and has capacity to trackthe outcomes. The Milestone Hotel is comparing its plan and strategies with its competitors. The gaols and objectives of The Milestone Hotel needs to achievable either it is long ternor short term. It should not be too far to achieve. The objectives sand goals which are achieved may be reliable bit it does not mean that itis simple. Company have enough resources to execute the goals is known as reliable.The last and most crucial factor in deciding the goals and objectives of company is itshould be achieved in time. It should be in schedule. The Milestone Hotel should have managedthe time to fulfil their objectives. 1.2. Explaining the factors affecting the businessPESTLE AnalysisPestle analysis is a tool which is based on the principles of marketing as well this toolhelps in identifying the external factors and its impact on business. It helps in tracking theenvironment where The Milestone Hotel is going to launch its services in the market. There aresix factors included in these tools are political, economic, social, technical, legal andenvironmental factor.Political- The government of UK has some legislations, rules and regulations which abide bysome laws of British Standard. The Milestone Hotel has to follow these rules and legislations,government takes actions on them or sometimes force closing it (Rossi and et.al, 2017.).

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