Business Health Check: Assignment Solution
Added on 2020-12-30
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BUSINESSHEALTH CHECK
Table of ContentsINTRODUCTION...........................................................................................................................31.1 Analysing the objectives of InterContinental hotel...............................................................31.2 Explaining the factors that impact on InterContinental Hotel..............................................41.3 presenting different potential improvement to Inter Continental Hotel................................72.1 Reviewing the effectiveness of a business............................................................................82.2 Developing plans to improve the business in the context of Inter continental hotel...........93.1 Presenting current skill of management and staff...............................................................103.2 justifying plan for the development of skill for management and staff.............................10CONCLUSION..............................................................................................................................11.............................................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONBusiness plays an effective role in an individual's life. This report helps to focus onspecific, measurable, achievable, realistic and timely management of staff as well asmanagers. The actual scenario of InterContinental hotel and its objectives will be presentedhere. There are more than 4400 hotels of this firm in across world and it provide the bestservices to customers. The hotel also uses many strategies in order to attract morecustomers. The report also presents different factors which affect the environment ofbusiness such as political, social, economic, environmental and technological, etc. Reportfocuses on the strengths and weaknesses of the hotel as well in order to determine its actualposition. By using Ansoff's growth matrix, InterContinental hotel improves itsperformance and gain higher profit as well as maximizes sales. It also presents differentplans which help in the growth of business. The report also explains and understands thekey skills of management as well as staff and their coordination will take business at nextlevel of success. 1.1 Analysing the objectives of InterContinental hotelInterContinental hotel is an international hotel in UK objective of which is to create apositive relationship with public and its main target is to attract market with number ofopportunities. They also measure their performance with the help of key performance indicatorswhich examine their success in order to achieve hotel's strategy. Their main objective is togenerate revenue on a large scale but through lower cost. It has more than 4,400 hotels in theworld and its main purpose is to build great hotel so that people just love to visit here. There isan increasing competitive environment and to maximize its profit, hotel always take differentsteps in order to add more new brands in their list (Gonçalves, 2018). It also provides clean andattractive rooms to customers with the best possible services. Their aim to generate revenue butafter satisfying the need of customers. There are many big hotels that come underInterContinental hotel which also provides services to many customers. Hotel also createsteamwork and their coordination will help in the success of business.The objectives of hotel meet the specific goals like they wants to maintain longrelationship with customers. It also achieve all the target which are planned for the company inorder to make new innovations , it only based on realistic and attract the customers by offeringmany discounts and it provide services timely without any delay.
1.2 Explaining the factors that impact on InterContinental HotelMacro environment affects the growth and development of business PESTEL analysiswill he;p to know the different factors and how they affect the growth of business which aremention below:Political factors: It has a great impact on InterContinental hotel if there is anyfluctuation in currency then it may affect the InterContinental hotel financial status as the hotelis in debt and sudden fluctuation in currency will disturb the final status of hotel. Due to terroristattack in 2016, the revenue of hotel is decline throughout the year and there is decrease inpercentage of tourism because there is fear among peoples of war (Pestel analysis ofInterContinental Hotel. 2018)Economic factors: As tour and travel contribute lot in GDP and twith increase in GDPwhich affect the industry and there is increase in profit too. There is also increase in oil pricesand due to imbalance in growth and low price in oil, the shares are fallen and this affects theairlines which affect tourism and there is decrease in the profit margin of hotel industry.Illustration 1: pestel analysisText 1: pestel analysis 2018
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