ENT101 Report: Entrepreneurship and Marriott International Analysis

This report undertakes a comprehensive analysis of Marriott International's entrepreneurial nature within the hospitality industry. It begins by defining entrepreneurship and providing an overview of Marriott's history, including its establishment, growth, and recent challenges. The report then explores two entrepreneurial schools of thought—social/cultural and entrepreneurial trait—relevant to Marriott's development, supported by historical examples. Furthermore, it examines emerging trends such as consumer behavior and technological advancements, assessing their potential impact on the company's future. Finally, the report proposes growth strategies, including adapting to technological changes and prioritizing consumer satisfaction, to enhance Marriott's market position and revenue. The analysis draws on academic sources and the provided assignment brief to provide a detailed understanding of Marriott's entrepreneurial journey.

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the Student:
Name of the University:
Author Note:

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EXECUTIVE SUMMARY
The primary aim of this given report is to undermine the entrepreneurship nature of the
hospitality industry of Marriott International Inc. In this concern, the paper firstly depicts the
comprehensive definition of entrepreneurship in order to clear the aspect of entrepreneurship.
Thereafter, the paper investigates the overview of the concerned hospital chain industry.
Moreover, based on the entrepreneurial school of thoughts, the report determines the thought
process that is suitable for Marriott. The report also assesses the emerging trends that would
impact the future of the concerned hotel industry. Finally, the report ends with stating the
potential opportunities for growth the company has in terms of the emerging trends that
would impact the working of the same.

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Table of Contents
Introduction................................................................................................................................3
Comprehensive Definition of Entrepreneurship........................................................................3
Overview of Marriott International Inc......................................................................................3
Entrepreneurial School of Thoughts..........................................................................................5
The emerging trends...................................................................................................................6
Potential Opportunities for Growth............................................................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................9

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Introduction
As opined by Hsu et al., (2019), any individual cannot become a successful
entrepreneur overnight. Being a renowned and successful entrepreneur is not as easy it seems.
Just thinking about being an entrepreneur and starting-up a business will not turn the same a
profitable one. A business establishment needs a lot of research and understanding as well as
resources. Thus, an individual thinking of starting-up with a business needs to generate ideas
and concepts and make effective study on the same before getting into entrepreneurship.
Comprehensive Definition of Entrepreneurship
According to the critical viewpoint of Venkataraman (2019), entrepreneurship is
defined as the potential capacity as well as the willingness of an individual to develop and
establish a productive business venture. The business venture is also known to get affected by
uncertainties of risk, and the capability to mitigate the same is what defines the ability of the
same as well as helps it to succeed and sustain itself in the competitive global market place.
The most common and obvious example of entrepreneurship is determined as starting up an
entirely new business firm (Tidd & Bessant, 2018). The ideology of entrepreneurship states
that the combination of land, labour capital investment and the resources and materials
required to produce the final products and services to be offered to the customers and the end
market provides the synergy of profit earning the ability to the business firms. In this
connection, the given paper is focused on examining the entrepreneurial organisation named
Marriott International Inc.
Overview of Marriott International Inc.
The concerned hospitality industry of Marriott International is considered to be an
American multinational industry that works in a diversified nature in the management and

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franchising of a broad portfolio of hotel facilities as well as lodging facilities (Ivanova &
Rahimi, 2016). The hotel industry was known to be founded by J. Willard Marriott. The
mentioned hotel industry is considered to be one of the largest hotel chain company across
the globe. It was founded in the year 1927. It was founded in the region of Washington D.C.,
U.S.A. and headquartered in Bethesda, Maryland, U.S.A. However, the same was formed in
the year 1993. The company is known to re-structure itself between the year of 2000- 2013
with the concern of developing itself with the new policies and trends of the hospitality
business market. At present, Marriott is designed to have 30 brands with around 7003 number
of properties spread across 131 countries and territories all across the globe. In the fiscal year
of 2017, the company was ranked on the 33rd position in the Fortune magazine under the list
of 100 best companies to work for. This appearance of Marriott on the merit list of Forbes
magazine was recorded as the 21st one. The given pieces of evidence prove that the Marriott
has developed itself with integrity and innovativeness to keep itself sustained in the market
and maintained its paradigm.
However, the company is known to face many challenges that have impacted its
current challenges. The significant challenges faced by Marriott, in this case, were recognised
as shown below.
The decline in the growth of the economy of the U.S.A.
Studies show that the economic scale of the U.S.A. had turned sluggish and the same
grew only at a rate of 1.2% in the quarter two period of the fiscal year of 2017 which was at
an annual rate of 4% till the year of 2016 (Sassen, 2018). Moreover, the same declined to a
further level of only 1% till the end of 2018. In this connection, it was determined that the
business considerations of Marriott would continue to go downwards if the economic growth
of the U.S.A. still continues to grow at a slower rate.

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Political unrest and Terrorism
As stated by Vogel (2016), the growth in the political sector and the stability of the
same in the foreign nations is a vital aspect for the long-term plan of Marriott International.
Thus, the devastating violence that was occurring in the nation of France and Turkey in the
past months of the year 2018 had created a high negative impact on the trade and trends of
the international market. The same was known to decline at a constant percentage of one, on
a quarterly base of every annual year. The foreign sale condition looked weak and translated
back to the greenbacks. The RevPAR growth of the international business market was just
recorded to grow at a percentage level of two, and the dragging down of the same was
calculated at 7%.
Entrepreneurial School of Thoughts
Based on the examination of the article named as Entrepreneurial School of Thoughts,
provided on the viewpoint of Frederick, O’Connor and Kuratko, (2013), the two thoughts that
relate to the establishment of the concerned hotel industry is recognised to be the social and
cultural school of thoughts and the entrepreneurial trait school of thought. The same are
outlined below.
Social and Cultural School of Thoughts
As an external factor, the ideology of the social and cultural factors states that the
business organisation was established under the influence of the surrounding conditions and
demands Blau (2017). Thus, the lifestyle of the common individual is termed to be the key
driver influencing and inspiring the thought of an entrepreneur (TheGuardian.com). In this
connection, it was examined that this school of thought is appropriate for the Marriott Inc.
because the entrepreneur was also established under the thought process of providing the
residents of the city with a place needed to intake a cool drink.

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Entrepreneurial Trait School of Thought
The ideology of the above-mentioned thought states that an entrepreneur inherits the
quality and traits of being a successful and renowned entrepreneur (Thoughteconomics.com).
Thus, this becomes a clear synergy for the entrepreneur of Marriott International Inc. as
undermined by the history of the same, that before the inauguration of Marriott, the
entrepreneur was involved in another business outgoing of root beer stand and turned the
same into a chain of a restaurant named as Hot Shoppes. This clearly determines that the
entrepreneur has prior skills in becoming a successful and renowned entrepreneur. This
interest and desire made the entrepreneur of Marriott a productive and successful business
person.
The emerging trends
As stated by Katz, Lazarsfeld & Roper, (2017), the change in the trend of the external
factors of market or a new introduction to the same is known to impact the working structure
of a business in a significant manner. In this connection, the emerging trends that would
affect the future of the organisation of Marriott International Inc. are specified below.
Consumer
As stated by Osterle (2013), consumers are the real boss of a company. This is
because the consumers are the ones who determine the paradigm of sales of a business entity.
If there were no potential customers to purchase the goods and services offered by a business
entity, the business would incur a huge loss and even closure because of the damage incurred.
Therefore, the change in the taste and preferences of the consumers with the commencement
of newer and similar kind of hospitality industry, who would provide them with better and
effective products and services would affect the position as well as the profit-earnings ratio of

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Marriott. This is because the customers would shift to other companies as they would get
attracted to the same.
Technological
Technology plays an essential role in the business environment of the hospitality
industry (Law, Buhalis & Cobanoglu, 2014). This is because the hospitality industry is
known for its infrastructure and the quality of advanced goods and services offered by the
same. This synergy of working with an advanced form of quality goods and services needs
the aspect of technology in the same. Thus, in order to succeed in the future, the hotel
industry under discussion here in the paper needs to enact its processes as per the change of
the innovative technologies of the business market. Only then will the same be able to retain
itself in the future and gain a better competitive advantage as well.
Potential Opportunities for Growth
Based on the examination of the above-emerging factors that are likely to impact the future
of the Marriott, the given report tends to propose the potential opportunities for growth with
the help of using the trends in an effective manner. The same are specified as below.
 The adoption of the newer form of changing technologies will help the industry be
updated with the market and therefore grab the attraction of the significant number of
customers and make a better profit (Freeman, 2013).
 Satisfying the desires and demands of the consumers and listening to their feedback
will help the company to gain loyal customers and therefore, effective and efficient
brand and customer loyalty (Pearson, 2016).

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Conclusion
Hence, to conclude it can be stated that, the organisation of Marriott have
significantly achieved the skills and ideas about the management of a business organisation
and sustaining itself in the market. The organisation has set up their plans and processes in a
way that it is ready to take up the risks and challenges and mitigate the same at the earliest
possible to keep its position maintained.

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References
Blau, P. (2017). Exchange and power in social life. Routledge.
Frederick, H., O'Connor, A., & Kuratko, D. F. (2013). Entrepreneurship. Cengage A.U.
Freeman, C. (2013). Economics of industrial innovation. Routledge.
Hsu, D. K., Burmeister-Lamp, K., Simmons, S. A., Foo, M. D., Hong, M. C., & Pipes, J. D.
(2019). “I know I can, but I don't fit”: Perceived fit, self-efficacy, and entrepreneurial
intention. Journal of Business Venturing, 34(2), 311-326.
Ivanova, M., & Rahimi, R. (2016). Nature and definition of the hotel chain. The Routledge
Handbook of Hotel Chain Management, 9.
Katz, E., Lazarsfeld, P. F., & Roper, E. (2017). Personal influence: The part played by
people in the flow of mass communications. Routledge.
Law, R., Buhalis, D., & Cobanoglu, C. (2014). Progress on information and communication
technologies in hospitality and tourism. International Journal of Contemporary
Hospitality Management, 26(5), 727-750.
Österle, H. (2013). Business in the information age: heading for new processes. Springer
Science & Business Media.
Pearson, S. (2016). Building brands directly: creating business value from customer
relationships. Springer.
Sassen, S. (2018). Cities in a world economy. Sage Publications.
The Guardian.com (2019). Common job interview questions – and how to answer them.
Retrieved from https://www.theguardian.com/careers/2016/nov/11/job-interview-
questions-example-answers-star-technique

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Thoughteconomics.com. (2019). Entrepreneurship. Retrieved from
https://thoughteconomics.com/entrepreneurship/
Tidd, J., & Bessant, J. R. (2018). Managing innovation: integrating technological, market
and organisational change. John Wiley & Sons.
Venkataraman, S. (2019). The distinctive domain of entrepreneurship research. In Seminal
Ideas for the Next Twenty-Five Years of Advances (pp. 5-20). Emerald Publishing
Limited.
Vogel, E. F. (2016). 11 A framework of global strategic planning. The Strategic Planning
Process: Understanding Strategy in Global Markets, 361.