Contemporary Developments in Business and Management - Marriott hotel Assignment
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Added on 2019-12-04
Contemporary Developments in Business and Management - Marriott hotel Assignment
Added on 2019-12-04
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ContemporaryDevelopments in Businessand Management1
EXECUTIVE SUMMARYContemporary Development plays an important part in business and management. This helps inthe current changes of the organization which should be adopted by the hotel to increase theirprofitability and market share. Furthermore, the organizational external factors which is describedthrough PESTLE analysis have both negative and positive impact. Marriott hotel should provide betterquality services such as accommodation and food services to their employees by which they gets happyand try to visit again to the hotel. The company is making the policies and decisions in the relevance tothe consumers' needs and requirements through which they can expand their market share and increasetheir revenue in the organization. Marriott International can improve their market share andprofitability through adopting some socio - demographic trends which helps visitors to feelcomfortable. The improvements which can organization provides are improvisation in food services,innovative technology, skilled employees and other activities. Through this, more customers can getsattracted and profitability of the business will increased which results in expansion of the MarriottHotel. 2
TABLE OF CONTENTSINTRODUCTION................................................................................................................................4TASK 1.................................................................................................................................................4A brief overview of the primary external influences to Marriott International...............................4TASK 2.................................................................................................................................................62. i) Analyse its relevance to Marriott International and how it influences policies and decision-making within the chosen organization...........................................................................................62. ii) Critically evaluate the effectiveness of the organization’s response in context to the social – demographic trends..........................................................................................................................82. iii) Areas of improvement according to socio - demographic trends...........................................9CONCLUSION..................................................................................................................................10REFERENCES...................................................................................................................................113
INTRODUCTIONContemporary Development plays a significant role in business and management. Theorganization should be adaptable to new changes in the environment then only it will benefit theorganisation. This development is all about the key aspects that include innovation, effective corporategovernance, and social responsibilities (Epstein and et. al., 2015). For conducting the current research,Marriott International has been chosen. This hotel is diversified hospitality industry which manageswide ranges of hotels and resorts. Marriott International deals with accommodation and food servicessectors as well as other facilities (Marriott, 2016). The company has expanded its business into a chainof restaurants and hotels. This report is bifurcated into two tasks. The first task comprises of impact ofexternal business environment factors with its importance. The second task includes influence ofpolicies and decision – making within the Marriott International. Furthermore, it also evaluates theeffectiveness of the organization's response and the improvements needed in the business enterprise. TASK 1A brief overview of the primary external influences to Marriott InternationalThe external factors of an organization help in knowing various business operations which isuseful in day to day activities. The external environment comprises of customers, competition, theindustry and market and legal factors. These all can be described through PESTLE analysis in which itincludes political, economic, social, technological, legal and environmental factors and they are asfollows:Political Factors: This factor is important because of the political conditions of the country inwhich the company operates. Without following any political guidelines, the firm cannotoperate in that country. The political factors which are affecting Marriott International can beinfluenced through terrorism, international relations and political stability of the UK. Theterrorist attack can influence customers to visit less to the hotel and places (Kolios, Read andIoannou, 2016). This is because it will influences the people to travel less. Naturally, if the airtravel would decrease then it directly decreases the demand for hotel rooms. If there is apolitical instability then it is difficult for the hotel to manage their business operation. In thetime of economic crisis, the hotels have lost many of its customers because people cannot travelin the recession period that much, as they usually do. Economic Factors: This factor helps in analysing the economic growth, interest rates,exchange rates and the inflation rates. This factor affects business operations and decisionmaking. The economic crisis is main factor which impacts the Marriott international in their4
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