This document provides an insight into the strategic management of Hyatt Regency, including its mission and vision statement, internal and external environment analysis, SWOT and PESTLE analysis, sectorial influence on competitiveness, and strategies for organizational excellence.
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1 Table of Contents 1.0 Insight into the Hyatt Regency..................................................................................................2 2.0 Mission and Vision Statement...................................................................................................2 3.0 Internal and External environment............................................................................................3 3.1 SWOT....................................................................................................................................3 3.2 PESTLE.................................................................................................................................4 3.3 Sectorial influence on competitiveness within the industry...................................................5 4.0 Strategies for organizational excellence....................................................................................5 References........................................................................................................................................8
2 1.0 Insight into the Hyatt Regency Hyatt Group operates under the hospitality sector and fulfills the entertainment desires of the customers.The Hyatt Group is the parent organization for resorts and hotels for the matter of specialization, one of which is in Hyatt Regency in Dubai (Wang & Chung, 2015). Since the hotel was launched in 1980, it is a 5-star hotel which is situated in the Deira district of Dubai. The hotel is at an accessible range from the airport or station. The guests of foreign countries are enticed by the elegant suits and guestrooms of the hotel. The hotel provides sightseeing facilities for the guests which makes them familiar with the enormous cultural heritage of Dubai. Apart from this, there are various extensive recreational facilities such as games section, swimming pool, and fitness section. Along with these, multiple weddings and business meetings are held in the 4000 square meters halls. Effective execution of the business activities is looked after by the Hyatt Hotels Corporation. 2.0 Mission and Vision Statement The mission statement of Hyatt Regency is to provide quality services to the customers. A caring attitude by the hotel personnel towards the guests makes the mission statement successful. This understanding and caring attitude reflect the hotel's vision statement which is creating a world of understanding, compassion, and care. The mission statement is made realistic by the exposure of teamwork by efficient and skilled workers. Development and researching innovative means of carrying out the activities of business reveals the measurability of mission statement which is proposed by the Hyatt Regency’s personnel (Macdonald, 2018). Awareness towards the values of fun, creativity, empathy, humility, integrity and respect helps the concerned personnel to take better care of the requirements, demands and needs of the customers.
3 3.0 Internal and External environment The external and internal environment of the Hyatt Regency, Dubai will be dealt with in this section. 3.1 SWOT Strengths ï‚·Theendowmentofluxurious accommodation is one of the biggest strengths of the Hyatt Regency ï‚·The widespread supply chain network of the hotel results in the fulfillment of particular preferences and tastes of the customers ï‚·Theavailabilityoffusionfoods satisfies the guests who love to eat ï‚·The method of check-in and outs are eased by the availability of free Wi-Fi (Collins, 2017) ï‚·Moreover, the main advantage of the hotel is its location which is at an attainable distance from metro stations and airports Weaknesses ï‚·The inflexibility of finances results in complicationstoprovidequality services to the guests ï‚·Due to postponement in repayment of loans,theinternetservicesinthe premises of the hotel are ignored OpportunitiesThreats
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4 Sponsorship of marriages and business events can increase the profit margin and sales revenue The brand image can be enhanced by the sports events During checkouts, the guests can be asked to rate and give feedback to the customer service with the help of free Wi-Fi Thevulnerabilityisaddedtothe position of the market of the hotel due to the negligence in observingthe terms and conditions People’slifeisatriskduringthe events due to the unavailability of the security guards. The children who are enjoying in swimming pools and parks are also at risk 3.2 PESTLE Political:For the Hyatt Regency, strict policies of the government and the political unrest act as a hindrance in the execution of the business. Economic:Instabilities such as high rates of exchanges, price fluctuation, and inflation induces the business person to set high prices for the services and rooms of the hotel (Arif, & Hossin, 2016) Social: Social factors include income and lifestyle of the people, age and gender. Technological: Adoption of the modern and latest technologies reflect the hotel’s advancement of technology. An example of this is the availability of free Wi-Fi within the premises of the hotel. This parameter of the technology supports the latest trend of being tech savvy.
5 Environmental:Obeying to the environmental directives assists the personnel of Hyatt Regency for contribution to the prevention of ecological diversity, one typical example of which is solid waste management (Fraj, Matute & Melero, 2015). Legal:Partnership with the statutory bodies and trade union members assists the personnel in preventing illegal issues and scandals. 3.3 Sectorial influence on competitiveness within the industry The profit margin and sales revenue will be improved by the introduction of discounts, schemes and lucrative offers for the customers. The competitive end over the contemporary brands will be achieved by the hotel by searching for innovation in the standard and quality of the services of the business (Pereira-Moliner, Pertusa-Ortega, TarÃ, López-Gamero & Molina-AzorÃn, 2016). The use of Porter’s Five Forces helps in understanding the desired nature of the competition which is important while indulging in fair transactions for the shareholders and stakeholders. 4.0 Strategies for organizational excellence For achieving organizational excellence, developing strategies and managing the activities of business on priority are needed by Hyatt Regency. Review of the present practices of the business is important by proposing important changes (Lapian & Tumbel, 2019). Involvement of the shareholders and stakeholders in the process of review can prove efficient in terms of assessing their feasibility, appropriateness, and effectiveness. Opposing this, judicious and effective utilization of the resources of the organization is important to enhance the activities of the business. Staffs are required to be provided training for this about the improvement of service towards the customers. Apart from these, the foods need to be tested in the laboratory which will cater the appetite needs and health issues of the customers. Along with this, there is an urgent
6 need to frequently test the internet services for preventing malfunctions and defects. To avoid the complaints from the customers about the inferior services, hiring experts can prove effective (Elbanna, 2016). The managers can take post-training test that will help them to access their ability in making practical application of their skills while executing work activities in the workplace. Availing these tests can help the managers to improve the staff's performance and thus, allocation of the jobs according to the ability of the staffs (Lu, Capezio, Restubog, Garcia & Wang, 2016). This will help in generation of reliance, dependence, and trust among the guests about the services of Hyatt Regency. The personnel will be helped with the quality products by partnering with a team of research and development. This can improve the stability in the relationships between the suppliers and the personnel. For example, the hotel will be provided with delicate design tapestry by partnering with fashion designers. Fusion foods can be served to the guests by collaborating with the food retailers. Anyways, to test the presence of non-edible items in the foods produced, there is a need to hire the expert. To bring into the forefront the limitations in delivering the services, evaluation is quite vital which is required to be done in the presence of the board of directors, staffs, shareholders, and stakeholders. This evaluation will help the staffs to simplify the doubts in the operation of the business; thus, invalidating the chances of flaws. There is a need to maintain the consistency for executing the evaluation to upgrade the quality and standard of the business services. Usage of templates can help the personnel to be conscious of the alterations made, and that is still left to be achieved. The personnel with the help of this awareness can make estimates about the
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7 development in response to the proposed alterations. To achieve organizational excellence, action plans can act as an agent. To achieve the quality of the business, it is important to take feedbacks from the guests. The personnel can reach to a larger section of the population at a particular time if the feedback forms are uploaded in the social networking and official websites which will increase the reputation in the foreign market (Berezina, Bilgihan, Cobanoglu & Okumus, 2016).
8 References Arif, T. M. H., & Hossin, M. Z. (2016). A comparative analysis of internal and external environmentsbetweenHotelHyatt,UKandHoteltheCoxToday,Cox’sBazar, Bangladesh.IOSR Journal of Humanities and Social Science,21(6), 13-22. Berezina, K., Bilgihan, A., Cobanoglu, C., & Okumus, F. (2016). Understanding satisfied and dissatisfied hotel customers: text mining of online hotel reviews.Journal of Hospitality Marketing & Management,25(1), 1-24. Collins, G. R. (2017). Key Planning Factors for Deploying Ubiquitous Wi-Fi Networks in Hotels.International Journal of Tourism and Hospitality Management in the Digital Age (IJTHMDA),1(2), 18-31. Elbanna, S. (2016). Managers' autonomy, strategic control, organizational politics and strategic planningeffectiveness:Anempiricalinvestigationintomissinglinksinthehotel sector.Tourism Management,52, 210-220. Fraj,E.,Matute,J.,&Melero,I.(2015).Environmentalstrategiesandorganizational competitiveness in the hotel industry: The role of learning and innovation as determinants of environmental success.Tourism Management,46, 30-42. Lapian, S. L. H. V. J., & Tumbel, A. (2019). Analysis of Green Marketing Mix Factors On Hotel Industry (Study on Sintesa Peninsula Hotel Manado; Discovery Kartika Plaza Denpasar; Hyatt Regency Yogyakarta; Grand Melia Jakarta).International Review of Management and Marketing,8(6), 112-121.
9 Lu, V. N., Capezio, A., Restubog, S. L. D., Garcia, P. R., & Wang, L. (2016). In pursuit of service excellence: Investigating the role of psychological contracts and organizational identification of frontline hotel employees.Tourism Management,56, 8-19. Macdonald, S. (2018). Citizens of somewhere: How a cross-cultural discussion group offers opportunitiesforinterculturalunderstanding.Spark:UALCreativeTeachingand Learning Journal,3(1), 26-32. Pereira-Moliner, J., Pertusa-Ortega, E. M., TarÃ, J. J., López-Gamero, M. D., & Molina-AzorÃn, J. F. (2016). Organizational design, quality management and competitive advantage in hotels.International Journal of Contemporary Hospitality Management,28(4), 762-784. Wang, Y. C., & Chung, Y. (2015). Hotel brand portfolio strategy.International Journal of Contemporary Hospitality Management,27(4), 561-584.