Stakeholder - A Key Resource | Hyatt Hotel

RUNNING HEAD: STAKEHOLDER: A KEY RESOURCE
MANAGEMENT
BUSINESS ENVIRONMENT

STAKEHOLDER AS A RESOURCE 1
Executive summary
The key points are summarized below:
 Hyatt hotel is a highly recognized hospitality company with high presence in
Australia. Its functional areas include Food and beverages, Sales and marketing, Front
office, kitchen, Concierge, Financial department, Human resource and Maintenance
and engineering.
 Its stakeholders include owner, manager, employees, auditors, operations team,
customers, shareholders, government and suppliers. The organization has distinct
responsibilities for each stakeholder as they differ in their interest and influence in the
organization.
 Considering the stakeholder mapping, it is acknowledged that Hyatt keep its
shareholders highly informed, manage the suppliers and employees, anticipate the
customer’s needs and make low contact with the government.
 Stakeholders show distinct interest and influence on contrasting Hospitality industry
with retail industry.
 It is suggested that Hyatt should keep regular information about its stakeholders to
maintain their interest in the organization.


STAKEHOLDER AS A RESOURCE 2
Contents
Introduction................................................................................................................................3
Functional areas.........................................................................................................................3
Stakeholders...............................................................................................................................4
Internal.......................................................................................................................................4
External......................................................................................................................................6
Stakeholder’s matrix..................................................................................................................7
Table 1....................................................................................................................................7
Table 2....................................................................................................................................8
Mapping..................................................................................................................................9
Industry comparison (based on stakeholder)............................................................................10
Recommendations....................................................................................................................12
Conclusion................................................................................................................................12
Bibliography.............................................................................................................................13

STAKEHOLDER AS A RESOURCE 3
Introduction
The report emphasizes on stakeholder management in organization named ‘Hyatt
Hotel. It is an American based hospitality company with high presence in Australia and
international market. It was founded in the year 1957 and it has more than 700 hotels in 56
countries (Hyatt, 2020). In Australia, the brand has its hotels in famous locations like
Sydney and Melbourne. It is a highly reputed hospitality company offering luxury rooms at
high prices. It is an international organization and it allows the company to gain high
financial returns. In the year 2018, it has earned a profit of 4.45 billion dollars (Lock,
Revenue of Hyatt Hotels Corporation 2008-2018, 2020). Its key competitors are
Marriott, Hilton and IHG group (Owler, 2020).
Focusing on the report structure, the initial section includes the information based on
key functional areas in the organization. The next section comprises of detailed description of
internal and external stakeholders. It also includes their roles and company’s responsibility
towards them. The passing part includes their differentiation based on interest and influences.
The succeeding part contrast the ‘Hospitality industry with the ‘Fast food industry’ based on
stakeholders. Additionally, it also includes key points for effectively managing the
stakeholders for effective business operation.
Functional areas
Every industry differs in its functional area and Hyatt Hotel forms the part of hospitality
industry and each department performs different set of actions. Following are the departments
in Hyatt Hotel.
1. Food and beverages: It is one of the significant departments of the company because
it is responsible to supply food and beverages to the guest in Hyatt Hotel. It mainly
includes cafes and restaurant and forms the part of room service.
2. Housekeeping: It plays a vital role in attracting and keeping the guest in hotel for a
longer period of time. They are responsible to clean the guest’s room, public areas and
perform laundry services within the unit (Andrews, 2013).
3. The kitchen: Its forms the part of back operations as it is responsible to prepare food
for the guest in Hyatt Hotel.