Contemporary Management Report: Business and Societal Dynamics

This report delves into contemporary management issues, analyzing the dynamic forces impacting business and society. It critically examines theoretical foundations to identify corporate responses to management challenges, emphasizing the shift in global economic power towards E7 nations. The report explores the implications of these shifts, including changing societal expectations, ethical considerations, and globalization. It highlights the importance of strategic decision-making, utilizing decision-making tools to address contemporary drivers for change, such as political populism and economic uncertainties. The report also discusses the challenges and opportunities faced by businesses in emerging markets, emphasizing the need for skilled workforces, local partnerships, and innovative strategies to achieve sustainable growth. Recommendations include promoting local talent, improving infrastructure, and adapting to changing consumer markets to navigate the complexities of the global economic landscape. Overall, the report underscores the interconnectedness of business and society, advocating for proactive and adaptive management practices to ensure long-term success.

CONTEMPORARY
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
DYNAMIC FORCES WHICH MAKE IMPACT ON BUSINESS AND SOCIETY.....................1
CRITICAL ANALYSIS OF THE THEORETICAL FOUNDATIONS TO IDENTIFY THE
EFFECT OF CORPORATE RESPONSE TO CONTEMPORARY MANAGEMENT ISSUES . 2
USE OF DECISION MAKING TOOLS TO ADDRESS CONTEMPORARY DRIVERS FOR
CHANGE.........................................................................................................................................4
CONCLUSION ..............................................................................................................................5
RECOMMENDATIONS ...............................................................................................................5
INTRODUCTION...........................................................................................................................7
ASSESSMENT TASK 2.................................................................................................................7
Financial obligation and opportunities........................................................................................7
RECOMMENDATIONS...............................................................................................................14
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................17

INTRODUCTION
Contemporary issue management is a process which is related to the recent or current
trends of a business. It is a management techniques which help to provide effective ways to
check what's is going on right in a business currently. The present report analysis the critically
review in order to support the view that global economic power will move increasingly to the E7
nations by 2050. It also explain the understanding of all the dynamic forces which make impact
on the relationship between business and society in term of making effective strategic decision
making process. By analysing the theoretical foundations, it help to identify and apply the effects
which make corporate responses to contemporary management issues.
DYNAMIC FORCES WHICH MAKE IMPACT ON BUSINESS AND
SOCIETY
This report consider that latest long-term global growth projection to 2050 for 32
economies and earn 85% of world GDP. As per the analysis of this issues, it include the world
economy which could be doubled in size in 2050. All the emerging markets grows twice in a fast
speed by using advanced economies. Reaching the year 2050, six largest economies are
projected which is led by China, India and Indonesia. As a shifting in GDP growth, UK's GDP
goes down to 10th place by 2050. Institutions and infrastructure need to increase their
economies, as a result they positioned itself as a long-term growth (Mokin, Lopes, Binning,
Veznedaroglu, Liebman, Arthur, Doss, Levy and Siddiqui, 2015). There are various kinds of
forces which make great impact in relationship between business and society these are:
Changing Societal expectations: The demand and expectations of society are ever
changing in nature so that it make great impact in business. People except that business need to
be more responsible and also pay close attention to social issues. They also want that the firm
need to act as good citizens in society. Hence, new public issues arise rapidly so that business
need to make balance between social, legal and economic obligations.
Growing emphasis on ethics: Public also want that business can work as per the ethical
manner. They apply various ethics principles or values so that enterprise can analysis wrong, fair
and unfair actions while making business decisions.
Globalization: People survive in a global integrated economy and segregated the
movement of goods, services and capital across national boundaries. Big corporations can do
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their business with various countries. People buy the products in US, Germany, China, India,
Indonesia or Mexico everyday. Thus, all the economic factors affects the business activity in a
global level.
Creating value in a dynamic environment: This is considered as most powerful
dynamic forces which affect the relationship between business and society. It include changes in
societal and ethical expectations, global economy, policies framed by government, new
techniques etc. are important for the business to make interaction with market and non-market
shareholders. Hence, society and business are interrelated with each other because they both are
part of interactive social system. It can be said that once activity highly influenced the other
(Nefas and Valickas, 2014).
In order to this, business need to make effective strategic decision making process so that
all the countries like China, India, Russia, Indonesia, Mexico, Brazil, Turkey can develop itself
by the year 2050.
CRITICAL ANALYSIS OF THE THEORETICAL FOUNDATIONS TO
IDENTIFY THE EFFECT OF CORPORATE RESPONSE TO
CONTEMPORARY MANAGEMENT ISSUES
As per the Pwc report, India becomes the world’s second largest economy in terms of
purchasing power parity (PPP) whereas despite the economic slowdown, it is projected to
overtake US by china in 2028. According to the Thornton (2006), G7 countries are the world’s
richest countries which are expected to be overtaken by E7 emerging economies by the end of
year 2050. It presents a key challenge to the Western companies and workers. The collective
economies size of G7 nations i.e. China, Russia, India, Mexico, Brazil, Turkey and Indonesia is
determined at 75% midway in the century. G7 nations bring numerous contemporary
management challenges for the business which needs to be carefully tailored for the success
(The World in 2050, 2015). One of the key threat for the organizations is it will be really tough
for the emerging economies to sustain the growth rate given the institutional deficiencies and
economic bottlenecks. In order to effectively manage the businesses, corporate managers have to
examine the political environment and legal & regulatory risk and implement appropriate plans
and procedure to mitigate such risk. Moreover, they need to understand and analyze the
consumer market dynamics that are mature, digitalized savvy and sophisticated.
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Besides this, emerging economics may vary in their strengths and weaknesses from
industry to industry within a given country. Thus, managers and strategic policymakers need to
update their local knowledge consistently so as to manage their business functions and activities
in the best way. It becomes crucial for the entrepreneurs to have the best local partner in order to
navigate local legal, political and regulatory system. Rising the economic growth of G7 nations
at high rate were beneficial to the West countries but bring challenge for the countries due to
shortage of skilled and talented workforce. Thus, people with less level of skills will face threats
due to loss of their jobs will tends to increase employment issues. In order to combat such
managerial issue, companies have to make decisions to promote and boost local talent to have a
better understanding of the local business & social culture which will serve businesses as a
source of competitive advantages (Chen and et.al., 2016). Besides this, large-sized Western
corporations who undertake strategic investment in the emerging economies as a part of their
investment strategy must put focus upon improving their local network i.e. offering technical
guidance and assistance & advice to the local government in the field of fiscal policy
formulation, corporate governance and protection of intellectual property rights. They also can
invest in the infrastructural facilities i.e. power, railways, electricity, network which enable
companies to achieve long-term success.
In today’s period of advanced economies, G7 nations will be continue to have high rate
of average income and GDP/capita beyond E7 nations by the end of year 2050. China is
expected to have middle average income whereas despite the high growth, India is expected to
have its half of income range. Strong growth in country’s population serves as a key driver
behind high growth in GDP but it will take time to mitigate differences in average income level.
In 2016, in US GDP per capita is projected to be 4 times to that of China and 9 times to that of
India which is expected to reduce by the end of year 2050 (Babu, Hariharan and Srinivasan,
2016). Although the gap is tends to narrow down still income inequality is projected to increase
which will be driven due to the technological changes which needs highly skilled & competent
workforce. In order to maximize potential, policymakers in the corporate field need to undertake
investment in infrastructure, updated and advanced technologies and others so as to sustain high
growth. Promoting innovations will assist economies to create secure environment. Aging
population, change in climate and structure development makes it essential for the businesses to
equip with the multi-talented workforce to promote their business growth.
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Although, there are number of challenges but also at the same time, economic progress
subject to the new industry and better engagement with worldwide market are the great
opportunities for the companies. Market with relative more population of youth will become
highly attractive for the talent acquisition. As the emerging countries are highly volatile
therefore, establishments have to pay focus upon creating right mix of policies and decisions,
understand their local consumer base and market and have good relationship with the local
partner for the sustainable growth.
USE OF DECISION MAKING TOOLS TO ADDRESS CONTEMPORARY
DRIVERS FOR CHANGE
Global economy faces many problems and difficulties which provide challenge to pick
some data inn weak years. Today, global GDP rate is 3.5% and IMF forecast is less that the
average with 4.5%. In order to this, UK and US try to recover its self sustained. On the other
hand, in Eurozone policy are framed to make expansion and growth which could be expected
before. There are various kinds of contemporary drivers which are needed to make effective
decision making tool for making growth in global economy. 2016 is a year which is represented
as political populism. It can be said that low economic activity and productivity denotes
disappointing real wages and consumption rate. There are various kinds of factors which increase
populism. Due to regards to this, job security are undetermined as per the global competition.
The demand of education, specific knowledge will be decreases and weaker negotiation power
also make negative impact in the productivity (Kane, Dennis, da Silva Costa, Kornman and
Brennecke, 2013.).
Russia also plays an important role in the world. For a long- term period, Russia reduces
it power to take current regime. Low fertility rate, dependency in natural resources, lower
productivity rates etc. make great impact in the growth rate of a country. Choppy markets also
make negative impact in growth rate, In order to this, Europe make extraordinary monetary
policy so that it can reshape the banking structure. Less utilization of resource also make great
impact in the economic growth. In order to this, country develop a strategic plan so that it can
accelerate the productivity. All the traditional models which are used by the central banks for
analysis the inflation rate also capture with the use fast moving techniques. China government
also make strategic decisions so that it can reform the downside risks and dependency including
state- owned enterprise and centre power etc. Emerging market also take the advantage of
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globalization. As as result in 2016, IMF forecast shows that GDP is growing faster than 6%. It
can be said that total economy is going to be triple in two decades. Western companies also make
strategic investment for emerging markets so that it make contribution to improve the local
framework. This can be done by using appropriate technical assistance and advice which is given
by the government. Foe example: Government guidance in regards with the fiscal policy,
intellectual property rights protection etc. In addition to this, manager need to understand the
political legal risk so that they can avoid which the use of appropriate strategic plan. By making
correct balance between company to company, growth market strategy helps a toolkit for the
growth of an economy. It is essential that global strategies must be followed strictly so that it will
positive impact in the growth of all the emerging markets (Meidutė-Kavaliauskienė, Vasiliauskas
and Zinkevičiūtė, 2014).
CONCLUSION
From the finding of the report, it can be concluded that G7 are rapidly growing countries
across the globe which brought number of challenges as well as opportunities for the corporate
policymakers to sustain high growth. Innovation, technological advancement, development of
new industries and worldwide expansion are the opportunities whereas lack of skilled and
competent workforce, changing political, legal & regulatory framework are some of the key
threatening issues. It arise the need for the managers to create right policies and balance between
lower-risk and mature and growing markets. They need to formulate various growth market
strategies for promoting sustainable business growth and success.
RECOMMENDATIONS
 To promote high growth, policymakers must have better knowledge of their domestic
market to administrate their regular business activities in a successful manner. In such
regards, the report founded that working with the local partners and acquiring talented &
highly capable and competent workforce will assist them to run operations successfully.
Moreover, good knowledge of local consumer, market and social culture will drive
competitive advantage to the businesses.
 Under the investment strategies, the report suggested to undertake planned investment in
the infrastructural facilities i.e. power, railways, electricity network & others to build
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long-term growth. They can also assists government to frame better plans under the fiscal
policy, corporate governance and others for the economic growth.
Technological advancement will also assist policymakers to promote innovations as a source of
competitive success and enable them to achieve high growth and development.
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INTRODUCTION
The issues which are faced by the organization in order to keep the business sustainable
in the industry. The issues are related to human resource management, financial conditions,
project management, globalization and corporate social responsibilities. In the changing society,
the management issues are becoming very crucial and the company have to overcome those
issues in order to keep the business on track De Vita and Case, (2016). This part covers the
methods by which Marriott can improve their financial conditions, so that they will remain in the
market. Further, this part also shows the process of overcoming the social responsibilities and the
environmental issues in order to reduce the business pressure for operating the business and
remain sustainable. The impact of people, planet and profits are the factors which can have
significant impact on the operations of the enterprise. The firm have to know the effectiveness
and their impacts on operating the business, so that they will improve those aspects as well.
ASSESSMENT TASK 2
Financial obligation and opportunities
According to Nudurupati, Tebboune and Hardman, (2016), hospitality and leisure
industry embraces a spectrum in sector of businesses such as hotel, restaurants and many other
elements. This sector is depends on consumer confidence and sentiment of the organisation. It
creates the highest impact on effective distribution channel which is more important element.
There are several problems associated with implementing finance at workplace of Marriott. This
enterprise is facing many issues and problem due to financial requirements. It requires different
obligations which assists to promote effective results at workplace. Problems are determining in
the following manner:
Global financial crises: Pereira-Moliner, Font and Pertusa-Ortega, (2015) ascertained
that, in UK there are the highest global financial crises are continued take place. It is the time
when major households have not enough finance to invest in enjoyment, holidays and many
other things. At this time, Marriott unable to get money so that they are not effectively
implementing new services and products at workplace. They lost lot of the money which create
huge debt so that profitability is not been take place. Therefore, the chosen organisation need to
offer their rooms at low cost which create problem to deal in different market.
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Competition: As per the point of Grant, (2016), it has been examined that another
obligation is competition within the UK market and booming the industry. There are several
hotels opening so that customer can go towards other organisation where they get low cost. Due
to existing of many competitors, competition increasing so that Marriott face issue to attract
customer at low cost.
Product offering: On the other hand, De Vita and Case, (2016) examined that further
obligation is product offering that is brought advancement in range of services, facilities and
amenities that offers by hotel. Nowadays, every hotel industry offers luxury products so that they
can attract many customers easily. In this way, Marriott also need to offer different products such
as LED, Wi-Fi, Gym, etc. These products create high cost to determines effective results at
workplace. At higher and rating scale different types of services facilitate for entertainment and
enjoyment, etc.
Customer expectations: Huggins and Thompson, (2017) argued that, many hotels
concentrate on customer satisfaction which assists to promote effective results at workplace.
When customers are looking towards hotel, they demanding luxury services to develop results
effectively. Hereafter, Marriott need to reduce discrimination and enhance expectations of
customers in successful manner. In this way, the selected business can deliver their services
through implementing high cost which assists to promote positive results at workplace.
Social media: According to Daft and Marcic, (2016), social media platform also create
high cost in respect to show products and services on Facebook, Twitter and google, etc. It
determines the biggest challenges in hotel industry which requires powerful influence to
maintain reputation of the enterprise in front of customer. Each guest need to be feel very safe
with using products and services at workplace. It creates results to offer goods and services
effectively at Marriott. There are many attributes implemented that assists to grow performances
with increasing finance. Hence, it is obligation to the company to manage and monitor social
media presence.
Opportunities to Marriott
In order to remove financial problems and ascertain obligations, Nudurupati, Tebboune
and Hardman, (2016) said that Marriott need to expand their business and operations through
offers different range of exciting opportunities. Although, there are many individuals
immediately think about hotel to develop their outcomes and results with seeking management
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positions. With the help of valuable information, experience assists to advance career with most
authoritative sources which recommends academic discipline in hospitality administration. At
management level, workers of hospitality sector receive benefits of traditional that assists to
make competitive with healthcare packages and retirement plans. There are several opportunities
to the chosen enterprise that are as follows:
Implementing airline and railway travel: However, Sadgrove, (2016) argued that it is
the greatest opportunity in which Marriott can implement their services in effective manner.
Airline and railway travel assists to increase productivity and profitability in successful manner
for development of revenue and profits. Further, it increasing cost but also helpful to considered
effective results within the firm. This activity assists to enhance profits and revenue in successful
manner so that industry can grow their monetary amount at workplace.
Conferences and conventions centres: As per the view of, Becker, Kugeler and
Rosemann, (2013) With the help of conference and conventions centres, Marriott can attract
businesses men, college faculty, students and many other people. In this aspect, seminar and
conferences can be arrange at workplace of chosen hospitality industry. Therefore, it will be
profitable for ascertain high profits and revenue at workplace. Hence, it makes positive impact
on the organisation to develop their results in profitable manner.
They have to offer the products and services as per the needs of the consumers, so that
they will keep satisfied. This will attract more consumers which will improve their financial
conditions. The cost of the services should be effective and the rooms must be available to all the
types of consumers. In this way they will able to gain the loyalty of the customer's as well as
they will be able to retain them. It will also help in improving their financial state Pereira-
Moliner, Font and Pertusa-Ortega, (2015). The location of the company should be easily
accessible to all the travellers, so that they don't have to travel a lot to find out the hotel. It will
keep them happy and will improve the brand image of the hotel.
Further, if the company want to increase their financial condition, they need to minimize
their expenses. The products used by them should be environment friendly and can be recycled
after usage. This will reduce the purchasing cost of the company and improve their finance.
Tourists offices and ministries of tourism: In order to determines different offices of
tourism, Botha, Kourie and Snyman, (2014) stated that Marriott can delivers effective services of
tourism activity. In this way, customer can easily get travelling services which assists to promote
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performances that are helpful to enhance profits and revenue. It is the best opportunity to
maintain loyalty of customer and ascertain results that are determines profitability at workplace.
Museums and other cultural venues: However, Beardwell and Thompson, (2014)
explored that there is another method to create effective results at workplace that is museum and
venues. In order to develop profits, this is the best element through enterprise will accomplish
their goals and objectives in different areas of the world. Hence, it is important to measure
performances as per availability of finance. It assists to attract many customers and people that
develops effective results at workplace of chosen business. Within the business environment,
cultural is the greatest opportunity which assists to attract different types of people in successful
criteria. Therefore, it will be beneficial to ascertain high profits and revenue at workplace.
Social risk and Obligation
In every business enterprise, there are some of responsibility toward the society, customer
and other public. While it organise and operate any business activities then it must consider on
the social impact, risk and obligation toward the society. Company have to always consider
social impact by business activities and functions. In the context of Marriott hotel, there are
various business activities and operation which conducted for the enterprise. While any operation
are organised like delivery of accommodation, food service, entertainment etc then it needed to
consider its social risk, obligation, opportunities and impact on the society (Franks and et.al.,
2014). In the context of social risk, safety and security of the society like employees, customer
and public is major issue. In the absence of guest, no hotel can operate its functions and can not
earn profitability. Thus, it is great responsibility of the Marriott hotel to mange the working
environment and operation ion such manner so as it will not negatively impact on the society.
The internal system, surroundings, infrastructure, services should manage in such manner that
will not negatively impact on the people. All product and services which company produced
must licensed and organised in proper manager. In a simple word it can be said that Marriott
hotel have various kinds of the social risk related to the human and labour violations. Following
are some social risk which Marriott hotel have to consider-
 Human right is one of the main social risk of the cited venture because organisation is
directly and indirectly connected with humans. It has to consider their rights and
responsibilities. Government have developed various human rights related to customers,
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employees and public, which company have to follow (Frias‐Aceituno, Rodriguez‐Ariza
and Garcia‐Sanchez, 2013).
 Corruption is another social risk for Marriott hotel which including bribery, preferential
government procurement and other in appropriate relationship which can damage the
reputation of the organisation.
 Public heath is another social risk for the Marriott hotel because it is very important for
venture to keep mind the safety and protection of heath of public. At the time of business
operation, there should not any harm and uncertain accident occurred at the workplace
and due to the product and services.
Marriott hotel have various social risk which should consider at the time of operation of
business. On the other hand there are some social obligations which always keep consider by the
cited venture. Following are some social obligation-
1. Provide an effective and fair service to customer is major responsibility of the Marriott
hotel toward the society. It is ethical responsibility of the company to deliver the fair and
right services to customer according to their demand (Erhemjamts and Venkateswaran,
2013).
2. In the context of employees, it is responsibility to pay fair wages according to their
working efficiency. The policies and practices should developed according to the
company norm and government regulation. There should not be any discrimination with
people as well as employees. In addition to this all regulation and legislation should be
followed by the Marriott which developed by government.
3. Discretionary responsibility is another obligation of the company management to
safeguard the capital investment by undertaking only healthy business venture which
delivers effective return on investments.
4. Marriott hotel must have to fulfil legal responsibility toward the society. Government has
made various rules, regulation and obligation toward the society so Marriott hotel have to
follow that regulations.
As per the above discussion it has been analysed that there are various social risk and obligation
which Marriott hotels have to consider at the time of business operation and management. In
addition to this, from the society, company also have various opportunities which assists in
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improving and enhancing the growth of business. There are various benefits occurred due to the
society which are as follows-
 Due to the society, the major opportunity for the Marriott is about to the innovation and
creativity. In the context of social responsibility, Marriott hotel have to fulfil the actual
needs and wants of the customer and delivers the product and services accordingly
(Kemper and et.al., 2013). In order to full fill the demand of customer, company focuses
on the strategies and criteria through which it can better attempt the requirements of
public so as it can be said that company can bring some innovative idea and creativity in
the business.
 Another opportunity for the society within the Marriott hotel is about to use the
technology through which it can effectively connect with customers. In order to meet the
requirement of society, cited venture considers that latest technology which assist in
develop effective connectivity with genera public and customers. For example, Marriott
hotel used the social media to understand the needs of people and always connected with
them. With help of this manner, cited venture get touch with people and analyse their
wants and feedback.
 While Marriott hotel considers on the environment friendly product and services due to
engage with corporate societal responsibility then it is great opportunity for business to
develop its excellent brand image in the market (Hofman and Newman, 2014). With
assistance of the corporate social responsibility, cited venture can able to design its
impressive image and own competitive advantage in the market. By this, new customer
can also attract toward the firm and firm's profitability can enhance.
 While company deal with customer and employees in fair manner then it follows all
government rules and legislation. By these practices. It relationship with stakeholders like
customer, employees, government, supplier and investor can also enhance. This practices
can aids to the cited venture in developing its effective brand image in the market.
From the above discussion it can be analysed that there are various opportunities for the Marriott
hotel due to the social impact. With help of this impact, company can attract the large numbers
of customer and develop its own brand image in the market. Thus, it can be said that Marriott
have various opportunities from the society through which it can easily improve its competitive
advantage, profitability and market share in the market.
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Environmental risks
For every organisation it is very important that its operations does not get affected by
environmental factors. Its success and failure gets impacted by working environment. Becker,
Kugeler and Rosemann, (2013) States that there are various factors that are imposed on the
companies affecting its working and relations with customers. Therefore, it is required to design
policies that maintains proper conduction of business operations. Constraints imposed on them
has huge impact on the activities.
Working of Marriott Hotel also gets impacted by many factors such as economic, legal,
technological and environmental affects conducting various business activities. Political issues of
any country such as stability of government, foreign policies, foreign exchange rate and many
more largely impacts business expansion and its sustainability within a region.
For every organisation it is required to have proper availability of resource so that
customers could be served in much better way by making them available quality products and
services Pereira-Moliner, Font and Pertusa-Ortega, (2015).
Strategic management is required for by the Hotel in order to acquire objectives that
would have impact on the future as well. It helps organisations to identify and examine external
and internal environments that would impact activities of the venture. It is necessary to analyse
sustainable advantages as well so that resources available within the firm could be identified and
utilized effectively and hold competitive benefits in the market. Some of the factors are
discussed below:
 Value system: It involves culture and policies of the organisation. Hotels have their rules
and regulations to carry out operations successfully and employees are required to work
within designed framework so that maximum profits could be generated and enhance
productivity of the firm Becker, Kugeler and Rosemann, (2013).
 Mission statement: Organisations have varied priority and policies. They are needed to be
fulfilled by employees and managers have responsibility to ensure proper implementation
of them within it. They also have responsibility to ensure objectives set by the directors
get fulfilled and managers are engaged into communicating to the others members.
Improper communication leads to misinterpreted transfer of information.
 Availability of raw materials: According to the Botha, Kourie and Snyman, (2014) ,to
offer services to the customers by Marriott hotel it is very essential; to have availability
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of raw materials at affordable rates. If they are supplied at higher cost then, production
cost will also get increased. High priced products and services are not supported by
people. Thus, it is required for them to ensure availability of resources within
organisation so that cost effective products could be developed. Many times situations
arise when there are limited number of suppliers only which charges high price for the
raw materials. Thus, proper market analysis is needed to be conducted so that factors
affecting business performance could be identified.
 Competitors: it is required to conduct market survey and analysis so that competitors in
the market could be identified that would have impact on the marketing strategy of the
hotel. As per the De Vita and Case, (2016), one should examine strengths and
weaknesses of their firm so that area of improvement could be identified and necessary
actions could be implemented.
 Technology: Advancement in technology has brought revolution in the every sector.
Pereira-Moliner, Font and Pertusa-Ortega, (2015) explains that many innovations could
be brought in the working procedure of the organisation so productivity of the firm could
be enhanced. If a hotel is offering better facilities by adopting technical improvements
then ultimately it would affect sustainability of the Marriott hotels. To remain
competitive in the market, it is very essential for the firm to adopt latest trends so that
best services could be provided to the clients for long termed survival.
 Climate: it is one of the major factor affecting business activities. If a country has good
weather and climatic conditions then ultimately more number of customers would prefer
to visit it and consequently hospitality industry would get benefited. According to the
Pereira-Moliner, Font and Pertusa-Ortega, (2015), when frequency of tourists are
identified, then it could be used to design strategies for business profitability. It is also
needed to ensure that business activities do not impact environment and atmosphere.
Environmental legislation that businesses are needed to comply are discussed below:
5. Emissions released from hotels should not get dumped directly into water resources and
air as it would affect environmental balance causing harm to nearby surroundings and
leads to global warming as well.
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6. Wastes released should be properly stored and after proper treatment they should be
decomposed and also needed to ensure that it gets collected by local authorities. Waster
transfer note should be completed by the hotel authorities.
7. Recycling of materials should be ensured by the venture. Nudurupati, Tebboune and
Hardman, (2016) explains that statutory nuisance directly affects health and well being of
people. Smoke, pollution, gases, use of chemical agents affects environment.
Opportunities
Opportunities could be defined as those factors that makes available for business to grow
and expand and making maximum profits of it. As per the market availability, following
recommendations can be provided in Marriott to deals with many functions and operations:
 As per the view of Becker, Kugeler and Rosemann, (2013), natural products and services
attracts many customers so that Marriott need to provide their goods in natural
environment which assists to implement services according to customer requirement. It
assists to grow effective results in successful manner.
 Further, Pereira-Moliner, Font and Pertusa-Ortega, (2015) stated that nature is the best
element which assists to attract many people that are belonged from different country. In
this aspect, it is important to make sure that objectives and goals of the business
environment is done as per culture of country.
 According to De Vita and Case, (2016), as per customer culture, organisation need to
serve their products and services so that they will easily attract many customers.
RECOMMENDATIONS
Marriott is facing many challenges in operating their businesses in context with their
financial, environmental and social conditions. First of all, the company have to improve their
financial conditions in order to sustain in the market. This can be done by reducing and
rearranging the expenses. The company have to make a periodic plan for their large expenses.
They can either change their banks and suppliers. Because by doing that they can get better deal
for the products. This will help in reducing their finances. It has been recommended that Marriott
must recover all their outstanding debts. If they want they can also take help from any debt
collection agency, so that all the debt can be recovered to improve the financial condition of the
company.
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They can also increase the price for their services but those prices should be affordable
by the consumers. In this way, they will increase their profitability. Further, the company can use
new marketing strategies, so that they will be able to provide new offers to attract more
consumers. This will increase their sales rate, which will improve their financial conditions.
Marriott has to make sure that they get extra benefits from the government policies. The
government can grant some money, if the business is well established and the company wants to
improve their services for the consumers. They can also sell their few assets which are not used
by them from a long time, so that they can get accurate money from those sources to increase
their financial condition.
Environment sustainability and social responsibility is very crucial in terms of reducing
the pressure on business and remain sustainable in the market. Their strategy is supporting the
business and protect and preserve the plants and their resources. The company can construct
more environment friendly by using the LEED lights and the solar panel for generating more
electricity and prevent the environment. The company can put more focus on reducing the
wastages and use waste management plan to apply it more effectively. They can also use those
type of products, which can be recycled or reused, so that it will reduce the expenses also and
prevent the environment.
As far as social issues are concerned, the company have to keep all the ethical factors into
mind, so that they are not hurting the feelings of any individual's religious belief. It has been
recommended that Marriott should aligned their strategies by aligning all the social needs of
local societies. This practice will be very important in terms of their financial success. The
company must encourage innovations. They should use those new and innovative techniques in
their business, so that they can reduce the wastage and can improve the quality of their services.
They must have the offers which will be as per the requirements of all type of consumer. As the
ongoing trend is changing, Marriott must use all those new trends, so that the customer will not
think twice before purchasing their services. This will improve their sales, financial and social
condition. These are the ways by which Marriott can solve the problems faced by them so that
they will remain sustainable in the market.
CONCLUSION
From this report it has been concluded that Marriott has resolved all the issues faced by
them in context with contemporary management. This was done so that they remain sustainable
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in the market. The company had reduced their expenses by making an effective financial
management plan. The company have attracted more number of consumers by giving them more
offers and using recycled products. Their funds was improved significantly. By doing that, they
are having good financial condition in the market. They had used LED lights and solar panels so
that they can use natural resources to generate electricity. This has reduced the electricity cost
also and protect the environment as well. They are respecting the local culture and doing the
business by keeping all the ethical factors in mind. This has reduced the social issues faced by
them and reducing the pressure from the company.
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