Business Management and Strategic Management Running Header: Business Management and Strategic Management

Running Header: Business Management and Strategic Management
Business Management and Strategic Management
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Business Management and Strategic Management
Contents
Introduction.................................................................................................................... 3
External competitive environment for identifying opportunities and threats.....................................3
Internal operating environment for analyzing strengths and weaknesses..........................................5
Consistency of strategies with mission and goals of The Ritz Carlton.............................................6
Business model of The Ritz Carlton...................................................................................... 7
Key partners................................................................................................................ 7
Key activities............................................................................................................... 7
Key resources.............................................................................................................. 8
Value preposition......................................................................................................... 8
Customer relationship.................................................................................................... 8
Channels.................................................................................................................... 8
Customer segments....................................................................................................... 8
Cost structure.............................................................................................................. 8
Revenue streams........................................................................................................... 8
Employment of strategic management theories........................................................................8
Reflection of the role played............................................................................................... 9
Conclusion..................................................................................................................... 9
References............................................................................................................... 11

Business Management and Strategic Management
Introduction
For bringing advancements and enhancements in the organization the business entity is required
to Identify and decide the strategies and plans. This process of identification and management of
the strategies and plan has been considered as an empirical task and is known as business
management and strategic management. This process of management is required to be
implemented with the organizational structure and culture so as to bring some positive changes
and these changes will be proven beneficial for the business corporation in terms of growth and
results. The managerial staff and top level within the organization are the authorities who are
held liable for the adoption and execution of these strategies (Adewuyi and Oyejide, 2012).
Bringing a hike and boost to the performance level and productivity has been considered as the
main objective behind the adoption and implementation of these tactics and strategies.
Scheduling, managing, monitoring, analyzing the operations within the organizational structure
are the additional operations and functionalities which are executed within these management
practices. The below-described concept has been considered as an integral approach for the
entity and is also relevant and liable in effectively attaining the desired goals and objectives of
the organization. A position over the rivals will be attained and the business corporation will be
able to sustain easily in this competitive environment. The concept can also be termed as the set
of activities or the decisions which are required to be essentially and effectively taken by the
managers for deciding the outcomes of the performance and productivity of the business
corporation (Aigboduwa and Oisamoje, 2013). The below-executed analysis has been
concentrated on The Ritz Carlton which is a high standard or premium brand name in the sector
of the hospitality industry. The below-executed report has been made focused on the analyzing
the business situations and also proposing the new strategic choices and the business
implications of the new strategy.
External competitive environment for identifying opportunities and threats
Competitor analysis comprises of the competitors who can be considered as the barriers or the
obstacles on the track of growth and success of the business entity (Anomohanran, 2012). The
below-executed analysis has been made focused on the external competitive environment of The

Business Management and Strategic Management
Ritz Carlton. The competitive environment comprises of some the main competitors of the entity
which are discussed as follows:
Opportunities
Growing business markets: The upcoming developments of the businesses and business travel
dictate an opportunity for the business corporation because the independent business travelers are
considered as the major driving factors of the hospitality industry. Their spending tendency is
more as compared to an average traveler (Ritzcarlton 2017). Generally, while spending money if
the consumers are spending other’s money on themselves they do not economize but will try to
gain the highest value of it.
Innovations as compared to the competitors: The business entity should attempt to innovate
some services or products for grabbing the attention of the travelers. For instance, offering
libraries etc. As mentioned in the presented case the entity has focused on the design of the
hotels in the regions of China .i.e. Beijing, the brand can develop some innovations in the design
which will be proven beneficial for the entity (Anthony, 2012). As presented in the case, The
Ritz- Carlton Beijing brings a new level of elegance and design aesthetic to China’s capital city,
this point can be considered as an advantage for developing relations and bonds with the public
in China on cultural and religious aspects and which will be considered as a big opportunity for
the firm. This will aid the business corporation in stepping ahead in the intense competitive
environment. Moreover, offering discount schemes and packages can also be considered as one
of the strategies which can be adopted by The Ritz Carlton for sustaining in the competitive
environment.
Business expansion: The business corporation should focus on the business expansion and this
will be considered as an opportunity which will be relevant for sustaining in the external
competitive environment (Aron, 2013). For instance, the entity can try to enter some new regions
and establish the markets. This will aid the organization by an increase in the market share,
goodwill and brand equity etc. All these factors considered as a whole will be assisting the entity
in developing a strong position in the competitive environment.
Threats