Strategic Management- Marriott International

Added on - 03 Dec 2019

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Strategic Management
TABLE OF CONTENTSINTRODUCTION..........................................................................................................................3ASSESSMENT 1.............................................................................................................................3Strategic decisions.......................................................................................................................3Non-strategic decisions................................................................................................................6Risk..............................................................................................................................................7Recommendations for future strategies.......................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONIn the competitive market scenario there is continuous rise in the customer demand aswell as other changes in the external environment has given rise to strategic management process(Ivan and Ivana, 2012). However, strategic management is an ongoing process that includeplanning, monitoring, analysis and assessment of all that is necessary changes for anorganization so they can easily meet their stated objectives and goals. Therefore, Strategicmanagement provides overall direction to the enterprise and involves specifying theorganization's objectives, developing policies and plans designed to achieve these objectives, andthen allocating resources to implement the plans. The present report focuses on one of renownedhotel that is Marriott International, as with the continuous change in the external environmentthey must focus on the strategic management technique which will help them to cope withcertain change and uncertainties.Present report mainly focuses on the strategic and non-strategic decisions that are takenby Marriott international so that, they can easily survive in the competent environment.However, the report will also measure the different type of strategy which is being formulated inthe different levels of the organization. Lastly, the report also measures risks, uncertainty andtrade-offs play in the strategic decision making process of the organization.ASSESSMENT 1Strategic decisionsThe strategic decisions are those decisions which are related with the externalenvironment in which the service organization operates their business and manages differentresources so that, they can determine the success of implementing the strategy. However, theMarriott International mainly renders luxurious and leisure services to their guests and customersin terms of providing luxurious accommodation facilities, food services etc. thus, strategicdecisions would help the organization to sustain in the competitive hospitality industry(Alkhafaji, 2011). In order to expand Marriott business internationally in the different countries,organization is adopting strategic management technique which primarily impact their success.There are different types of strategic decisions that are taken by Marriott international so that,they can easily sustain in the environment. For this, business organization needs to formulatestrategy that help Marriott International in accomplishing their goals and objectives and survive
in the long run(Huff and et.al., 2008). Therefore, business strategies exist at differentorganizational levels. The different type of strategy includes:Corporate-level strategy:Corporate level strategy mainly aims to consider overall extentof business organization and achieving aim of operations in order to meet the distinctrequirement of internal and external stakeholders. According toWalters and Rainbird(2007) corporate level strategy in the Marriott International is being framed by the toplevel authorities with the main aim to fulfil mission statement of the organization(Walters and Rainbird, 2007). The corporate level strategy will be for the long timeperiod that will result Marriott to attain success in the market for the long time period.However, it has been said that the mission statement of Marriott International is nearlyconnected with corporate strategy of the business(Salaman, Storey and Billsberry, 2005).Business-level strategy:However, the main aim of Marriott International is to providethe quality and luxurious accommodation and logging facilities for the customers. Forgaining the aim of service organization, they need to form different business levelstrategy which results in determining the strategies that must be adopted to deal withtarget audiences in the hospitality industry(Lasserre, 2012). This strategy comprehendstrategic decisions regarding their services, exposure to new possibilities, meetingdifferent expectation of guests and customers, to gain competitive advantage over theirrival companies etc. For example, Marriott International is introducing new restaurant intheir luxurious hotel so that, they can satisfy the demand of customers and gain advantageover their rival organization thus, for this manager need to formulate business levelstrategy.Functional level strategy:Functional level strategy is in the response to business levelstrategy(Carton, 2006). Functional level strategy assist the business to see managementdecisions to be specific with the functional or departmental area of the organization, suchas marketing, human resources, finance, information management and public relations.The advantages of devising functional level strategy is that, they can systematicallyassign human resources and other resources to the tasks. For example, an employee withexpertness in HR, thus it may be logical to assign the duties and tasks of HR instead ofproviding them activities related with the finance(Cadez and Guilding, 2008).
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