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Business Health Check Assignment

   

Added on  2020-10-05

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Business Health Check
Business Health Check Assignment_1

Table of Contents.........................................................................................................................................................2INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Analysis of business objectives.............................................................................................31.2 Factors that influence on the business...................................................................................41.3 Identification of potential improvements to business organisation and operation................6TASK 2............................................................................................................................................82.1 Revaluation of business effectiveness...................................................................................82.2 Development of plans to improve business, justifying their value.......................................8TASK 3............................................................................................................................................93.1 Evaluation of current skills of management and staff...........................................................93.2 Devise and justify plans for development of skills for staff and management..................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
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INTRODUCTIONBusiness Health Check is identified as a best tool for company that assists in determiningand reviewing potential issues of an enterprise. It refers as the present comprehensive assessmentof essential business elements (Abdelhak, Grostick and Hanken, 2014). This facilitates firm inchecking its viability so as to analyse market position. This report is based on Crowne Plazawhich is a renowned multinational chain of upscale hotels located in United Kingdom. Theassignment covers assessment of business objectives and components that influence it as well asidentification of potential improvements in operations and activities of firm. Business plan isframed in order to review effectiveness as well as current skills of management & staff isevaluated. TASK 11.1 Analysis of business objectivesOverview of company: Crowne Plaza is one of the largest multinational hotel chain headquartered in UnitedKingdom. It was established in year 1983 in Rockville, Maryland and now offer its services allacross the globe. The firm provides its services to conventions market, meetings as well asbusiness travellers. It is a formal part of Inter Continental Hotel Group which includes HolidayInn and Intercontinental Hotels & Resorts. The company perform its operations in 52 countrieswith over 400 chains, usually situated in areas like near major airports, city centers, coastaltowns or resorts. Objectives of company: Objectives are defined as the basic tools or ways that governs all planning activities andstrategies. It serves as basis in terms of assessing performance and framing policies. In order toensure growth of business organisation, it is necessary to set short as well as long term goals. Inorder to attain long term goals of business, short term goals are the vital step that leads towardsit. The main objectives of Hotel Crowne plaza are: To become a global leader by satisfying large number of customers.To maintain large base of loyal customers by administering them high quality services aswell as unforgettable experience (Brown and et. al., 2013). To bring constant innovation in our services by adding new features in it on regular basis.
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To increase revenue and market share of firm to 30% by 2023. SMART objectives of Crowne plaza: It is identified as the clear aims & objectives associated with achievable goals. For HotelCrowne Plaza, SMART objectives can be developed as: Specific: Provide training for the purpose of improving skills of workforce related totechnology and add some value to services so that customers gets completely satisfied. Measurable: Above defined objectives can be measured on the basis of satisfaction levelof customers acknowledge by its services. Attainable: Providing good quality services with innovative technology and gain highcustomer loyalty are achievable objective of hotel (Chapman, 2012). Realistic: Plan and strategies formulated by Hotel Crowne Plaza are relevant to attain itsobjectives. Introduction of new services by the use of digital technology is the realistic objectiveof firm. Time bound: Maximize revenue and market share of firm to 30% by 2023 is one of thetime bound objective of company. 1.2 Factors that influence on the businessSeveral forces are there which impacts on operations and activities of business enterprisein negative or positive way. These variables are exist in internal and external surroundings ofbusiness. In order to properly assess these factors, a tool is applied by administrator of HotelCrowne Plaza which are defined as follows: PESTLE Analysis: Political: The basic need to success is political stability. Firm has flexible legislativeframework, tax incentives for investors, political motivation for globalization, good brand imageand reputation in hospitality industry. Hotel Crowne Plaza actively engages in lobbying so as tolower down the negative impact of political factors. Economic: Macroeconomic situation and other factors affect business of hotel in adverseway. Inflation and high exchange rates are the variables that impacts on performance of CrownePlaza in negative manner. Stagnation in wages and growing income inequality are the factorsthat declines ability of people to travel & stay in hotels (Grasso and et. al., 2017). Social: Strong ethics of firm along with some demographic variables are such factors thataffects operations, activities and performance of Hotel Crowne Plaza. Since, the company targets
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