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Business Health Check Assignment Solved (Doc)
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Added on 2021-02-21
Business Health Check Assignment Solved (Doc)
Added on 2021-02-21
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BUSINESS HEALTHCHECK
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11.1 The objectives of the business...............................................................................................11.2 Factors that impact on the business......................................................................................21.3 Potential improvements to the business organization............................................................52.1 The effectiveness of the business...........................................................................................62.2 Develop plans to improve the business, justifying their value..............................................63.1 Current skills of management and staff...............................................................................113.2 Justify plans for the development of skills for management and staff...............................15Conclusion ....................................................................................................................................18REFERENCES..............................................................................................................................19
INTRODUCTIONBusiness health check is all about asking some questions about business and highlight thepotentials areas of weaknesses (Joshi and Cheung, 2015). It also looks at culture of anorganization in which it operates. The report will cover the study about JW Marriott. The JWMarriott is a chain of luxury hotel. This hotel offers luxurious amenities and rooms. The report will lay emphasis on explaining the objectives of business in which objectivesalong with history of the chosen hotel JW Marriott will explain. Also, the report will cover theimpact on the business. This includes PESTLE Analysis, Porter's five force and SWOT Analysisof the hotel JW Marriott in order to check their business and their operations. The potentialimprovement of the business will also explain by the analysis of Ans off growth matrix. TheSMART objectives for the JW Marriott will also be analysed along with the analysis of elementsof Ans off Growth matrix for improvement in the Hotel. The report will also explain the effectiveness of business and also develop a plan toimprove their business. The report of JW Marriott health check will also evaluate and criticalanalyse the development and improvement in business. The report will evaluate the current skillsof management and staff of JW Marriott. Also, a plan will formulate for skill development forstaff and management. The current experience, ability and skills will also analyse and criticallyevaluate for the JW Marriott. MAIN BODY1.1 The objectives of the businessHistory of JW MarriottThe Marriott company has started their business as a root beer. The founder of thecompany was J.W. and Alice S. Marriott in 1927. Then the founder launched their first hotel in1957 at Twin Bridges Motor Hotel. There are more than 3000 hotels of J.W. Marriott have overworldwide (Osborne, 2015). The J.W. Marriott is a company which is internationally operated inlodging and hotel industry. In 2016, the Marriott international acquire Starwood hotel and resortand able to create themselves the largest company of the world with more than 5700 propertiesand also offering 1.1 million rooms in 110 countries (History of J.W. Marriott, 2019).Objectives of the businessShort term objectivesTo increase repeat arrivals of guests by 20%. 1
To increase social media presence to attract new customers.To increase satisfaction of guest arrive at J.W. Marriott by 90% till October 2019. Long term objectives The company aims at introducing 300,000 new rooms in their 3 year plan. To enhance the companies culture by operating business globally within 2 years. To reach market share up to 75% by the end of 2021. To attract customers of other rivalries by 20% by the end of year 2020. 1.2 Factors that impact on the businessSWOT AnalysisStrengthsThe global leader - The J.W. Marriott is the largest leader in global hotel industry. TheJ.W. Marriott is nearly captured 5% - 7% share of market every year and also covers alarge geographical presence which creates their image of brand among people. This is thegreatest strength of J.W. Marriott. Strong presence among internet - The J.W. Marriott is able to create their online presence(Campanotti and et.al., 2016). Also, the rating available on their official websites are bestwhich attracts customers along with their trust. Ownership of hotel unhampered - The J.W. Marriott owns less that 1% of their portfolioof hotel. Also, there is less fluctuation among price of real state than other rivalry hotels.Along with it the J.W. Marriott is focusing more towards franchising which facilities theexpansion of the Hotel at minimum risk. WeaknessesLack of lifestyle low cost brand - The biggest weakness of J.W. Marriott is that they donot have low cost life style brand for their portfolio of the products. A luxury brand - The J.W. Marriott hotel is considered as an upscale and mid scale hotelwhich is their weakness. The customer group they focus is only people who prefer luxurylifestyle. The company is not focusing to track need of all customer base includingdifferent income, class, age, etc. which causes their customer base to be very limited. OpportunitiesInnovation in service of customers - The Hotel J.W. Marriott executes different activitiesof innovation in their business to attract more number of customers towards them.2
Regular innovation in the services of hotel include innovation in food presentation aswell as new technologies and techniques used in preparation of food for guest. Also,enabling service of black tourism, family tourism, green tourism, etc. in their hotelattracts customers. Personalisation - The customers needs personalised attention for the services the hotelsare availing them. The J.W. Marriott hotel can personalise their service to attractcustomers. ThreatsCompetitors - The J.W. Marriott has many competitors such as Hilton hotel, Taj group,Four seasons, etc. which not only attracts their customers by making innovation in theirservices but also decreases their profitability. Therefore, Hotel J.W. Marriott is sufferingfrom the huge threat of competitors.PESTLE AnalysisPolitical analysisTaxation policy - J.W. Marriott hotel is benefited from taxation policies which are lowerall over western hemisphere. The resultant is company earns higher profit and able toincrease their spending on Research and Development.Changing of new government policies - The new government implements new policieswhich affects whole industry of hospitality. The J.W. Marriott need to adapt the policiesaccording to the change in policies of government. Like policies related to increase incost of travel. Therefore, It is more expensive and time consuming for J.W. Marriott tobe in line with government policies. Economic analysisCurrency fluctuation - Frequent change in currency fluctuation affects tourism. Thechange in currency prices affects customers and hotels. The higher currency fluctuationlead to decrease profitability of travel and hospitality industries. The J.W. Marriott affectsa lot by currency fluctuation and this lead to delay in growth. Socio cultural analysisIncrease in spending of consumer and experiential travel - The trend of people arechanging towards travelling. This impacts their life style, and they tend to travel more.3
J.W. Marriott hotel is attaining a huge profit by changing of trend of customers towardsexperiential travelling. Health and safety - The consumers arrive at hotels are more concerned towards theirhealth which includes quality of food, hygienic food preparation, proper ventilation inrooms, etc. The J.W. Marriott is spending huge amount of money in these requirementsof customers which attracts more number of customers towards them. Technological analysisOnline booking - The J.W. Marriott is availing the booking facility to their customersthrough their online official website (Rastogi and Trivedi, 2016). On this website, thecustomers can books their rooms in advance. This saves time of customer as well as hotelis able to manage their operations of booking in efficient manner. Legal analysisData protection law - The data of consumers as well as employees are secured by J.W.Marriott hotel as they follow act of data protection. This build trust among employees,and they feel free to share their information with the company. Also, the hotel J.W.Marriott gets a lot of attraction by customers.Employment law - The J.W. Marriott offers benefits like perks, bonus, flexitime andflexible working in their work place (Davis and et.al., 2018). This increases satisfactionof employees and decreases turnover of employees. This enhances working of J.W.Marriott and able to render better services to their guests.Environmental analysisPromotes recycling and pollution management - The J.W. Marriott is promotes recycleof their products they offer to their customer. They use packaging of recyclable materialwhich is environment friendly. The hotel is also consuming solar energy in their hotel inorder for sustainable growth. Porter's five forcesThreat of New Entrants - Very low threatThe entry of new entrants in industry of hospitality is very low as this requires hugeinvestment. This is not possible for a company for invest high initial expenditure. Therefore, thethreat of new entrant is very low for J.W. Marriott. Bargaining Power of Suppliers - low threat4
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