Business Health Check Solution Assignment
18 Pages5890 Words30 Views
Added on 2021-02-20
Business Health Check Solution Assignment
Added on 2021-02-20
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Business HealthCheck
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1AC1.1 Determination of the objectives of the business..............................................................1AC1.2 Explanation of the factors that affect businesses.............................................................2AC1.3 Explanation of the potential improvements to the business operations...........................5AC2.1 Effectiveness of the business...........................................................................................6AC2.2 Development of the plans to make improvement in the business...................................8AC3.1 Evaluation of the current skills of the management of the staff....................................10AC3.2 Justification of the plans for the growth of the skills for management and staff..........10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness health check refers to the recent comprehensive evaluation of the importantcomponents of the business. It can be an analysis of effective determination of the operations andactivities of the business of an organisation. Business basically refer to the trading of the goodsand services from one place to another. It also include various activities like production,planning, designing and running several activities of a company (Campanotti, Jackson andTognetti, 2016). The process of business health check is important because it help in effectivelymonitor the performance of a firm. It help in making clarity in the aims and goals of the businessso that they can be effectively understand by the employees so that they can help in attainingthem and make impermanent in the business. This assignment is based on Holiday Inn which is aBritish owned American brand of hotels and a subsidiary of Intercontinental Hotels Group. Thisorganisation was founded in 1952 by Kemmons Wilson and headquartered in Denham,Buckinghamshire, UK. It operate its business in food service, lodging, conventions, meetings,timeshares and others. This report will be discussed about the objectives of the business,different factors impact on the business and determination of potential improvements ton thebusiness organisation. Further will be defined about the effectiveness, growth plans and currentskills of the employees for the development of the business. MAIN BODYAC1.1 Determination of the objectives of the businessOverview of the companyHoliday Inn is a subsidiary of Intercontinental Hotels Group and it is a British ownedAmerican brand of hotels which was founded by Kemmons Wilson in 1952. This companyoperate its business in at international level in the different nation of the world with the help of1,173 hotels and more over 214,000 bedrooms. The headquarters of this hotel chain in DenhamBuckinghamshire. Business objectivesIt refers to outcomes which can be aims and goals of a company and attained by theemployees by completing their works and tasks in an effective manner on time (Capewell,McCartney and Holland, 2015). In an organisation, objectives refers to the aim and goals of thecompany which is in measurable terms or steps and achieved by the workers in a given period of1
time. In Holiday Inn, objectives of the company are set by the management which the companyin making development and growth of the business of the company. The management of thishospitality organisation set two types of objectives like short term and long term objectives(Chang and et. al., 2016). Short term objectives indicates to those aim which are achieved by theemployees within a year whereas there is not any specific time to attain long term objectives.Short term objectivesCreating effective reputation through communication with their stakeholders.Providing good services to its potential customers that will help in exceed theirexpectations and fulfil their demands. Long term objectivesTo maximize 15% sales of the company within 2 years. Make expansion in the business and provide other classifiable services. Mission- The mission statement of this company is to make difference in the lives of the peopleby working together to deliver commitment, offer quality services which provide satisfaction tothe needs and demands of them.Vision- The vision of the company to expand the business of the firm in different nations and tobe the best 4-star hotel in Dubai. AC1.2 Explanation of the factors that affect businessesPESTEL AnalysisPolitical factor- This factor include taxation policy, trade restrictions, political stabilityand others. In UK , the government of the country make change in the taxation policy and reduceit from 35% to 30% which create favourable impact on the business of the company in term ofmaking development in the business. This firm operating its business in different nations so if thegovernment make change in its trade or entry policies then they negatively affect it. Economical factor- It consist inflation, interest rate, deflation, foreign exchange rate,recession and others. In UK, the economy of this nation currently suffer with recession so itaffect the life of people and making them to be more careful in spending. This negativelyinfluence the business of Holiday Inn (Check Hayden, 2015). Due to government's substantialreduction in interest rates help in effective operations of the business and generating employmentopportunities. 2
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