Royal Museum Greenwich: Analysis of Organisational Structure, Strategic Objectives, Sustainability, and Major Stakeholders

This report provides an in-depth analysis of the Royal Museum Greenwich, including its organisational structure, strategic objectives, sustainability efforts, and major stakeholders. The report highlights the museum's systematic organisational structure, strategic objectives, financial stability, and sustainability efforts. It also discusses the changing consumer trends and current issues that can impact the major stakeholders of the organisation.

Hospitality Tourism and
Events Environment

Table of Contents
Introduction .....................................................................................................................................1
Main Body ......................................................................................................................................1
Conclusion.......................................................................................................................................9
References ....................................................................................................................................10

Introduction
Hospitality and tourism is considered to be one of the most growing industry involving
the wide range of fields in the industry such food and drink services, lodging, event planning also
travel and tourism. It is mainly the involves the effective planning, managing things and offering
essential customers services. For this report Royal Museum Greenwich is taken into
consideration. The Royal Museum Greenwich is one of the well established business
organisation including four museums in Greenwich, London. It was founded in 2012 as a private
limited company. This report highlights the detailed analysis of the chosen organisation along
with its structure also the strategic objectives and consumers trends followed by the organisation
are also highlighted. In addition to this organisation sustainability and its financial condition
along with its major stakeholders and current issues that can impact the major stakeholders.
Main Body
Overview of the organisation
The Royal Museum Greenwich is the one the well established and famous museum in
Greenwich London. The museum is basically a private limited company founded in 2012, this
museum is considered as the home for main four museums such as Royal Observatory
Greenwich, famous tea clipper cutty sark, National Maritime museum and Queens's house art
gallery attracting large number of visitors all round the year. This is considered to the most
famous tourist spot with large number visitors, the museum is easy to the reached through the
Tube, docklands lights and also through overground train (Abdullah and Azam,, 2021). The
Greenwich museum includes the world's famous ship which was the last remaining tea clipper
also the royal observatory Greenwich considered to be the main spot for the prime meridian line,
this observatory includes a 4.5 billion year old asteroid and only planetarium of london along
with the UK biggest refracting telescope. In addition to this it also includes the worlds largest
museum named as National maritime museum including the Britain's combat with the globe at
the sea, royal navy and so on. The museum is one of its kind with its ambience and and richness
attracting large number of tourists and also there is Queen's house including 400 years of
excellent art with the royal history (Bhuiyan., Darda and Habib, 2020). Organisational structure
is defined as the framework followed by the busi8ness organisation in order to effectively carry
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out their activity and achieve desired goals and objectives. Royal museum follows systematic
organisational structure which helps them to effectively carry out their operation and activity
leading them towards achieving desired goals and objectives. The director of the museum is the
Paddy Rodger, also the operations and human resources department is directed by Andy Bodle
and Finance and IT department is directed by Chris Walker. The governance and museum
records are handled by the Jane Costantini. This systematic structure of the department helps the
museum to achieve desired goals and objectives (Dornier, 2021).
Strategic objectives of the organisation
The strategic objectives are the long term goals of the business organisation which helps
them to enhance their performance in the marketplace and also help them to gain competitive
advantage in the marketplace, it allows the company to analyse the steps that needed to be
followed by them in order to achieve their desired goals. In case royal museum greenwich the
major strategic objective of the museum involves having a essential goal of working towards the
welfare of our communities and stakeholders of the organisation with the function as the
museum and heritage sites. They royal museum is continuously working towards to become one
of the top progressive national museum involving brave, bold, collaborative, proactive and
ethical in the marketplace. The museum is continuously working towards achieving their
strategic objectives. In addition to this some of the future strategic objectives that can be
implemented after the analysing the annual report of the organisation (He, , Morrison and Coca-
Stefaniak., 2020).
Statement of financial activity
2

Balance sheet
3

cash flow
4

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From the above annual report of the Royal Museum Greenwich it is analysed that the
organisation has strong financial position in the marketplace through having effective inflow of
cash and net profit in the year 2020. with effective position in the marketplace organisation can
formulate their future strategic objectives such as more focus on the sustainability of the
environment. Increasing their profit by 10 % in the coming year and also enhancing their overall
performance (Hemmonsbey and Tichaaw, 2020).
Consumers trends
The consumer trends are the changing taste and preference of the consumers also the
change in the consumers behaviour which leads the business organisation to bring new and
innovative products in order to satisfy their needs effectively. In case of Royal museums
Greenwich, there were certain consumers trends that were followed by the museum in order to
attract their visitors and enhance their performance. With increasing use of the technology
around the globe the museum is also moving towards the use of technology in order to attract
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visitors and also to enhance their performance (Lee, Shin and Jeong., 2020). One of the trend
that can be seen is the re imagining the artwork and brining the archive products to life using
new contemporary ways. Also the maps has been transferred and a set of 19th century zodiac
constellation cards into the modern wallpapers and cushions in order to make it attractive. The
museum is gradually shifting towards the use of various social media platforms in order to
communicate with their target audience. Another trends that is seen at the museum is the use of
3D photography in order to create replica models and globes in intricate details. Changing with
the consumers changing trends helps the organisation to improve their performance and sustain
for long period of time in the competitive market. The Royal museum greenwich which is one of
the famous museum around the globe is continuously brining change as per the consumers trend
such as they are constantly working towards environmental sustainability such as greenhouse
gas, was reduction, effective utilisation of resources as so on. In addition to this they are also
using advance and latest technology like Augmented reality in order to attract their visitors and
also technology to interact with their audience (Michopoulou, Azara and Russell, 2020) .
Organisation is enhancing its sustainability
Sustainability is the process of continuously working towards welfare of the environment
through carrying out various activities related to the sustainability effectively such as reducing
carbon emission, reducing waste, utilising the resources and so on. It involves fulfilling the needs
of the present without any reduction in the fulfilling the needs of the future effectively. Royal
museum Greenwich is continuously working towards the welfare and sustainability of the
environment in order to enhance their sustainability performance. There are number of activities
related to the sustainability of the environment is carried out by the museum such as museum has
their own informal team called sustainable development group which is continuously working
towards analysing and researching various issues related to the sustainability. Since 1995 the
museum is working towards the energy efficiency in order to enhance their performance, they
are also creating awareness among the generally public about the various environmental issues
through exhibitions, displays and programmes. The museum, staff members, volunteers are
continuously committed towards the sustainability development (Ogbeide, Fu and Cecil, 2020).
The organisation is enhancing their sustainability through including the sustainability in their
corporate plan. The main focus areas of the organisation includes greenhouse gas emission,
reducing wastage, effect8ivce utilisation of resources, climate change adaption and mitigation
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also working towards Biodiversity and natural environment. Working towards sustainability
helps the organisation to enhance their performance and attract large number of audience.
Organisation operates financially
The term finance is defined as the total amount of the fund required by the business
organisation in order to carry out their necessary activity and operations effectively. The
financial statement of the company is determined in order to analyse the total inflow and outflow
of the cash also the financial position of the company in the marketplace. In case royal museum
Greenwich, organisation is considered to be financial strong effectively carrying out their activity
(Rashid-Radha and Ghazali., 2020). The major source of funding for the museum is the Grant in
aid from the unit of culture, media and sports additionally the museum get it funding from the
number of donations, sponsorships and also various trading activity carries out by the
organisation. From the organisations annual report it is analysed that the they have large inflow
of cash with positive net profit also organisation has large amount of fixed assets which helps
them to maintain strong financial position in the marketplace. In addition to this, with income of
around 15.5 m in grant in aid also with the income of 3.1m from the donations shows that
organisation operates financially strong in the marketplace. The financial stability of the
organisation shows that they are effectively gaining competitive advantage in the marketplace
also maintaining their essential position. As per the annual report of museum it is determined that
museum operates effectively in the marketplace with proper availability of resource and utilising
them accordingly also through maintaining their profitability and productivity. In order to
continue to grow and survive in the competitive market having strong financial positive becomes
very essential for the business organisation, it them to gain competitive advantage in the
marketplace and smoothly carry out their activity. In case of chosen museum the strong strong
financial position helps them to enhance their overall performance (Mohamed.,Su and Chen,
2020).
organisation is governed and whether it matches to the standards of good corporate governance
The royal museum is one of the most famous museum including four museum, it is kind
of museum which is governed effectively through its executives and administration following all
the necessary rules and regulation and also enhancing the overall performance of the organisation
health and safety employment legislation. The organisation is effectively matching the standards
of the good corporate governance such as the organisation is effectively following the
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employment policies which make them good employer, through focusing on the holistic reward
approach (Yin and Jamaludin. 2019). The organisation also has safe and healthy work
environment, job satisfaction, development opportunities for their employees. There is also staff
welfare officer. Employee assistance programmes for the welfare and enhancement of their
employees additionally following the health and well-being schemes. The museum has well
trained and skilled workforce continuously working towards achieving desired goals and
objectives there are also charitable and health society benefits. s. In order to build employees
trust and building customer locality various benefits are offered to the employees by the
organisation such as promoting workforce diversity, offering equal opportunity and
implementing employment policies in order to ensure the there is no discrimination on the basis
of gender, race, colour, nationality and religion effectively. In order to match the standards of the
good corporate governance the museum is also continuously working towards the sustainability
of the environment along with focusing on other issue such as environmental issues, wastages
and increasing carbon emission and so on. Focusing on sustainability of the environment helps
the organisation to be operating effectively achieving desired goals and objectives and also
enhancing overall performance. The main three areas that allows the Royal Museum Greenwich
to match with the standard of the good corporate governance includes focusing on the
employment polices, safety and health of the employees and sustainability of the environment.
Matching with good corporate governance is also essential for the organisation in order to gain
competitive advantage in the competitive environment and increase their profitability and
productivity (Al-Azmi and Nawi.,, 2020).
Definition of stakeholders and classify major stakeholders
The stakeholders involves group of individual or a particular individual who has major
interest in the operation and activity of the business and outcome of its operations. They are the
ones who can directly influence the operation of the business and also can be affected by the
business as well. The major stakeholders of the any company plays an essential role in the
growth and development of the business through continuously involving in its operations and
functioning. The major stakeholders involves customers, employees, investors, suppliers,
communities and government. In case of Royal Museum Greenwich the major stakeholders of
the organisation includes it customers, employees, community and government has huge interest
in the operations and activity of the business also they are actively involved in the functioning of
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the business. The organisation is actively engaged with its major stakeholders from visiting
public to central government and also other funding committees. The employees of the
organisation has high power and high interest in the functioning and operation of the business
also the funding committee of the organisation are considered to the be the stakeholders of the
company having major interest in the functioning of the organisation. Satisfying the needs and
wants of the stakeholders helps the business to enhance their overall performance and increase
their portability. For the the smooth functioning of the company ensuring the needs of the major
stakeholder of the company becomes very essential. In case of royal museum, the organization
ensures that their stakeholders are satisfied and there is smooth flow of information among the
company and stakeholders of the business. Essential and required information needs to be
provided to the stakeholders of the company as some of the stakeholders are interested in the
financial position of the company in order to maintain their interest in the company.
Present issues that can influence major stakeholders.
There are number of issues that can influence the functioning and profitability of the
business as well there are number of issues that can impact the major stakeholders of the
company also. In case of Royal museum Greenwich, some of the current issues that can impact
the major stakeholders are highlighted below:
Equal opportunity: One of the major issues that can impact the major stakeholders of the
company be not getting the equal opportunity or not getting the right opportunities in the
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business organisation (Zhou and Yang, 2020).. Such as in case of employees who are the major
stakeholder of the company, not getting equal opportunity in the organisation will lead to
demotivating them towards achieving desired goals and objectives and performing better. Equal
opportunity in any field of the business organisation has become the major concern which
directly influence overall performance of the company.
Health and safety: Another issues that impact the stakeholders of the company is the
health and safety. With current pandemic covid 19, business, employees all the other parties were
equally influence this has lead to major health concerned among the stakeholders of the
company. Not implementing essential strategies related to this will directly influence the
stakeholders.
Conclusion
From the above it has been analysed that the hospitality is one of the fastest growing
industry largely contributing towards the development and growth of the economy, it is also
analysed that the major focus of the hospitality industry is on satisfying the needs and wants of
their customers. For this report it is analysed that the royal museum is effectively satisfying the
needs of its customers through following essential consumer tends and implementing strategic
objectives. It is also analysed that museum is financially strong along with having major
stakeholders who are continuously contributing to their success. In addition to this it is also
analysed that there are some issues that can impact the stakeholders
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References
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