Strategy and Governance in the Hospitality Sector: A Case Study on Holtwhites Hotel

Strategy and Governance
Report with action plan

Contents
CHAPTER 1: INTRODUCTION....................................................................................................1
1.1 Background to industry organisation.....................................................................................1
1.2 Corporate governance problem..............................................................................................1
1.3 Aims.......................................................................................................................................1
1.4 Objectives..............................................................................................................................1
1.5 Research questions.................................................................................................................2
Structure of the report..................................................................................................................2
1.6 Limitations.............................................................................................................................2
CHAPTER 2: LITERATURE REVIEW.........................................................................................2
The concept of corporate governance..........................................................................................3
The challenges that can be suffered by Holtwhites Hotel in due to corporate governance.........4
The strategies which can be utilised by the Holtwhites Hotel regarding corporate governance. 6
The importance of corporate governance....................................................................................8
CHAPTER 3: RESEARCH METHDOLOGY..............................................................................10
REFERENCES..............................................................................................................................10

CHAPTER 1: INTRODUCTION
1.1 Background to industry organisation
The Holtwhites Hotel is basically situated on the junction of Holtwhites ill and Chase Side,
approximately 10 minutes walking distance form Enfield Town Centre and its shopping services,
This hospitality sector organisation is designed for both business persons and visitors to Enfield
who need quality en suite accommodation at reasonable costs. The particular establishment
provides a range of services to its guests considering direct dial telephone, teletext and colour TV
with SKY news and sports, guest’s car park, complimentary hospitality tray, complimentary
daily newspaper accessible, weekends and a writing desk in most rooms (World Health
Organization, 2019). It also offer photocopying and fax services when it’s targeted people
demand for it and requested. There are presently 2 cafeterias, 4 restaurants, 4 pubs and 3
takeaways serving a range of variety of dishes within 2 minutes walking distance from the hotel.
1.2 Corporate governance problem
Corporate governance essentially considers balancing the interests of a firm’s several
stakeholders like shareholders, senior management executives, consumers, suppliers, financiers,
the government and the society. There are several corporate governance problems such as
conflicts of interest, oversight issues, accountability issues, transparency and ethics violations etc
(Vith and et. al., 2019). These kinds of issues can also faced by the management of Holtwhites
Hotel in term of operating its business activities and operations in hospitality industry.
1.3 Aims
The aim of the company is to determine the strategy and governance of the hospitality
sector company. A case study on Holtwhites Hotel.
1.4 Objectives
 To understand the concept of corporate governance.
 To determine the challenges that can face by Holtwhites Hotel regarding corporate
governance.
 To monitor the strategies that can be used by the Holtwhites Hotel in term of corporate
governance.
 To acknowledge of the importance of corporate governance.
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1.5 Research questions
 What is the concept of corporate governance?
 What are the challenges that can be suffered by Holtwhites Hotel in form of corporate
governance?
 What are the strategies which can be utilised by the Holtwhites Hotel regarding corporate
governance?
 What is the importance of corporate governance?
Structure of the report
This research project is segregated into 3 chapters. Chapter one offers an introduction to
this study, considering the overview of hospitality form, corporate governance problem, aims,
objectives and research questions (Selig, 2018). Chapter two demonstrates a review of the
literature on corporate governance understanding, challenges, plans or strategies to overcome
that issues as well as the importance of corporate governance in business. Chapter three discuss
the data selection process and research methodologies utilised in this research.
1.6 Limitations
It refers to those components and aspects which influence the effective execution of the
report and affect its particular area. In this research project, the limitations can be lack of time,
lack of fun and collection of effective information regarding particular topic of report which can
be affected the effective execution and completion of the document in more appropriate manner.
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CHAPTER 2: LITERATURE REVIEW
It really states to the interest of amassing statistics of various pupils and authors which
assists the surveyor in sporting out intensive take a look at about any topic on which the general
research is primarily based. This segment of studies enable in figuring out the research through
theoretical framework due to the fact it is green in analysing the view factors of several authors
and writes who are having huge understanding on a few specific subject matter (Padiyara, Inoue
and Sprenger, 2018). Here, records is amassed by using taking assist of secondary sources
inclusive of books, journals from distinct webpages existed over internet, magazines, newspaper,
studies paper etc. In this segment of studies secondary source of facts is powerful as in this
proper description approximately research trouble must be provided by using the view factors of
numerous authors.
The concept of corporate governance
Corporate governance is the system is the system of rules, practices and processes through
which a company is directed and controlled. Corporate governance essentially considers
balancing the interests of a business venture’s many stakeholders, such as shareholders, senior
management executives, consumers, suppliers, financiers, the government and society. Corporate
governance also offers the structure for accomplishing an organisation’s objectives; it includes
practically every sphere of administrator from action plans and internal controls to execution
assessment and corporate disclosure (Badia and et. al., 2019). Basically, governance denotes to
the set of rules, controls, policies and resolutions put in place to state corporate behaviour. Proxy
advisors and shareholders are essential stakeholders who instantly impact governance, but these
are not instances of governance itself. The board of directors is pivotal in governance and it can
have main consequences for equality assessment. As per the view of Chen J. (2020), an
organisation’s corporate governance is essential to investors since it shows an establishment’s
direction and business reliability. Good corporate governance assists enterprises make trust with
investors and the community. As a result, corporate governance enables promote fiscal feasibility
by creating a long term investment opportunity for market participants. Generally corporate
governance indicates to the form and manner a corporation s governed. It is the tool and method
through which organisations are directed and administrated. Corporate governance contracts with
analysing ways to take efficient strategic decisions. It provides ultimate authority and inclusive
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accountability to the Board of Directors. Corporate governance assures transparency that makes
sure strong and balanced economic development. This also ensures that the interests of all
shareholders are defended. It assures that all shareholders fully exercise their rights and that the
company fully observes their rights.
According to the view of Rouse M. (2020), corporate governance is the amalgamation of
rules, processes to laws through which businesses are driven, regulated and managed. The term
includes the internal and external aspects which influence the interest of a venture’s stakeholders
considering consumer, dealers and management etc. The main motive and objective of corporate
governance is to enhance and maximise shareholder value and protect the interest of other
stakeholders (Dietz and et. al., 2018). Corporate governance has several objectives to strengthen
investor’s confidence ad intern guides to fast development and profits of companies. For
example, a correctly constructed Board proficient of taking independent and purpose decisions is
n place at the controls of affairs and adopts transparent processes and activities as well as arrives
at decision on the strength of appropriate information. Apart from this, there are several principle
of corporate governance which are crucial for effective running of business establishment. They
are as:
 All stakeholders should be treated fairly and similarly. Along with this is assuring
shareholders are aware of their rights and how to exercise them.
 Legitimate, contractual and social commitments to non shareholder stakeholders must be
upheld (Ringel and Knodt, 2018). It considers always communicating pertinent data to
workers, capitalists, suppliers and people of the community.
 The board of directors must manage a commitment to assure responsibility, fairness,
diversity and transparency within corporate governance. Member of board must also
possess the appropriate abilities require to review administration activities.
 Companies should explain a code of conduct for board members and executives, only
appointing new people if they meet that benchmark.
 All corporate governance policies and processes should be transparent or disclosed to
reliable stakeholders.
The key purpose of corporate governance is t execute a checks and balances system which
reduces issues and conflicts of interest. In context of business, corporate supremacy states to the
systems of rules, activities and processes through which ventures are overseen. In this way, the
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