Global Business Management: Strategies, Stakeholders, and Cross-Cultural Management

GLOBAL BUSINESS
MANAGEMENT

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. The content of International Business......................................................................................3
1.1 Global economy and country competitiveness......................................................................4
1.2 Key economic data and trends...............................................................................................4
2. STRATEGIES FOR GLOBAL BUSINESSES...........................................................................5
2.1 Strategic analysis...................................................................................................................5
2.2 Development of company's strategy......................................................................................6
3. STAKEHOLDERS IN INTERNATIONAL BUSINESS............................................................7
4. CROSS CULTURAL MANAGEMENT AND LEADERSHIP.................................................7
4.1 Country and regional cultural comparison.............................................................................7
4.2 Managing the cross cultural organization..............................................................................8
5. International Trade and Investment.........................................................................................9
5.1 International Trade ................................................................................................................9
5.2. Foreign Direct Investment (FDI) .......................................................................................10
REFERENCES................................................................................................................................1

INTRODUCTION
Global business management is defined as the way of managing business at a
global level and facilitating all the opportunities which are available in the market by expanding
and enhancing the market structure of an organization.
Hotel Hyatt is a multinational UK Company which serves in the hospitality sector by
proving luxury rooms, services, food and other luxurious services to its customers. Hyatt Hotels
was founded on September 27, 1957. Hyatt has over 100,000 employees worldwide providing
services to the customers who have been the guests for the hotel. The hotel provides various
services which concern the quality of services that are provided to the customers and so the hotel
concerns the effectiveness and efficiency of the hotel.
The report analyses the essentials of the hotel. This multinational hotel is favouring its
services to the customers with the best of the opportunities to serve. The report consist of the
business management process of Hyatt hotel by defining its global economy and company
competitiveness, the trends which the hotel follows which are running in the current market
structure, the stakeholders of the hotel in the international business, cross – cultural management
and leadership along with the international trade and Foreign Direct Investment (FDI) plan.
MAIN BODY
1. The content of International Business
Hyatt as said is a multinational UK company opened in 1954 by entrepreneurs Hyatt
Robert Von Dehn and Jack Dyer Crouch. In 1957, the hotel was purchased by Jay Pritzker for
$2.2 million and his younger brother decided that the use air travel for business will increase the
importance of building the hotel which will evoke more customers who will land directly to the
airport. In 1967, the company opened their Regency Hyatt house in Atlanta and Georgia
(Cherunilam, 2020).Further, John Portman designed many chains for the hotel as the business
was expanding on large scale. To manage the business of the company and to evolve and expand
the customer base by providing them facilitation and services the hotel provides. In 1969, Hyatt
opened its first hotel outside the United States. In 1972, Hyatt formed Elsinor Corporation, a
subsidiary to operate the four queens hotel and casino and the Hyatt Regency Lake Resort, Spa

and Casino. Hyatt became a private company in 1972. as Donald died in 1972 and Jay continued
to run the company.
In June 2004, all the hospitality assets owned were consolidated under a single entity called
Global Hyatt Corporation. On June 30, it changed its name to Hyatt Hotels Corporation.
1.1 Global economy and country competitiveness
For the business to get into international market they need to have creativity and
innovation with technological advancement so that the company will be able to maintain their
standards and operations effectively. There are a lot of competitors which are present for Hyatt
Hotel in the market.
Hyatt hotel is having a net income of $332 million as of 2018 which is a great value for
the hotel to have for a competitive advantage which is present in the market. The further report is
going to discuss the competitive advantage and competitors in the market in comparison to
Hyatt. Marriott- There are 176,000 employees which are working in Marriott and the company
is having $17 billion in the market as well. Marriott has got a higher competitive
advantage then Hyatt in the market since Hyatt is having a revenue generation of $5
billion (Hyatt, 2020). Hilton Hotels Corporation- Hilton is maintaining their performance in the market
effective which is making the operations of the company higher. There are 169,000
employees working in Hilton so that they can make the customer's satisfaction increase
which is a very essential factor.
 Omni Hotels & Resorts- there are just 20,000 employees working in this organization
which is making the efficiency lower than Hyatt hotel.
1.2 Key economic data and trends
There are 5 elements through which economic data and trends can be analysed which are
unemployment, GDP, population, technology infrastructure and Gini coefficient. There are a lot
of trends which are changing in Hyatt Hotel so that there are going to be higher functioning
which is going to be present. The following report is going to discuss the economic and trends