Detailed Analysis of Regulatory Compliance in Marriott Organization

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Added on  2022/12/22

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This report provides a comprehensive overview of regulatory compliance within the Marriott organization. It begins by outlining methods for accessing and interpreting regulatory information, including online resources, industry experts, and regulatory agencies. The report then evaluates compliance requirements across various business operations, such as accommodation and food and beverage, addressing potential non-compliance risks and consequences. Furthermore, it details the development of specific policies and procedures for areas like remuneration, employment, equality, consumer laws, and privacy. The discussion then shifts to the integration of these policies into compliance planning activities and documentation, highlighting sources of information and advice on regulatory compliance. Finally, the report examines the objectives of relevant government laws and the role of policies and procedures in managing regulatory compliance, concluding with the significance of legal compliance for Marriott's success and sustainability.
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Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Accessing and interpreting regulatory information.....................................................................3
Developing policies and procedures...........................................................................................4
Discussion about their integration into compliance planning activities and documentation......5
CONCLUSION ...............................................................................................................................5
REFERENCES................................................................................................................................7
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INTRODUCTION
Marriott organisation can considered to be one of the leading hospitality venture in the
hospitality industry. The report reflects upon the assessment of the regulatory policies and
procedures pertaining in the Marriott organisation so as to ascertain the scope of compliance
within the same.
TASK
Accessing and interpreting regulatory information
In order to facilitate the broadening of compliance in Marriott, it is very necessary to determine
the as well as interpret the following regulatory data :-
Sources of information for compliance
Three of the major sources of information that can be utilised by Marriott organisation so as to
extract the relevant information can be sated as :-
Internet can be termed as one of the most used sources of information. Marriott can
facilitate detailed research pertaining to compliance on various online portals
(Murakonda and Shokri, 2020) .
Discussion and meeting with industry experts can also help the company to extract
necessary overview about the compliance procedures which can be utilised by the firm in
further facilitation of the same.
Regulatory organisations and agencies can also provide assistance to the company in
gathering data and insights about the compliance structure and requirements.
Furthermore, libraries, journal, public domain data, lawyers, media etc. are can al;so be taken
into consideration by the respective firm as well (Goh and King, 2020).
Evaluation of the areas of business operation and the compliance requirements for each
Accommodation : It is necessary to incorporate consumer laws and promote consumer safety as
well
Food and Beverage : The acquisition of food licensing is essential for the respective area of
business operation.
Any non-compliance risks, penalties and consequences
The inability to work in accordance with regulation can result in part time detention, heavy
penalty. In case of severe conditions, termination can also be exercised by the firm.
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How you could implement modifications
The modification will be implemented through analysing the current situation and conditions in
the firm and adjusting the need of compliance in accordance with the same.
Developing policies and procedures
In order to comply with the different areas in Marriott Organisation, policies will be formulated
for each area of compliance in order to alleviate the stand of compliance in the organisation and
lead the same in an organised and systemic manner.
Remuneration
The HR department is required to maintain a systemic record of employee's attendance structure
in order to utilise the same while facilitation of monthly remuneration (Cerchione and Bansal,
2020). A systemic attendance sheet needs to be deposit on a monthly basis to the payroll and
salary section of the department so as to ensure that no manipulation prevails in the payment of
salaries to the employees.
Employment
The employees cannot leave the firm without prior notice. In case, if an employees attempt to do
the same, it shall result in a legal intervention from the court and a case can be filed against the
same. At the time of employment, the selected employees are required to comply to the legal
confirmation of the business firm by agreeing and signing a formal document which related to
the yearly contract.
Equality
Every individual irrespective of its social background , religion, gender or community will be
given a fair opportunity to be a part of the organisation. Every staff member will be treated with
equality and no injustice shall prevail in the organisational setting.
Consumer laws
A 24/7 redress-al community will be formed by the Marriott firm which will be responsible for
solving the queries and concerns of the consumers in the organisation (Kim, Kim, and
Lee,2021). The employees will be required to provide the necessary assistance to the customers
in order to enhance their overall customer experience.
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Privacy
The personal information of the customers as well as the working staff members will be kept
confidential to the firm. The respective policy shall protect and preserve the rights of the
individuals who are a part of the organisation.
Discussion about their integration into compliance planning activities and documentation
Sources of detailed information and advice on regulatory compliance
The information can be gathered through meeting with staff members of the respective firm. The
training sessions as well as the staff memos can also be incorporated by the business firm in
order to acquire a detailed overview in regard with regulatory compliance within the business
organisation. The records as well as statements formulated by the Marriott organisation can also
be taken into consideration in order to examine the data and provide the necessary
recommendation or advice in context to regulatory compliance within the respective business
institution.
Objectives and primary components of relevant local, state, territory and commonwealth
government laws
Marriott organisation is required to exercise Non-discriminatory practices within the respective
business setting so as to provide equal scope for opportunity to the individuals catering the
respective hospitality firm.
The workplace relations should also be maintained in an effective way so as to ensure that
employees exhibit greater involvement in the business setting.
The use of policies and procedures for managing regulatory compliance
Polices and procedures play a very vital role in defining the regulatory compliance in Marriott
organisation ( KWAN and Lau, 2020). They facilitate the respective firm in ensuring that every
member of the organisation is facilitating their operations in accordance with the compliance
structure set by the firm. Policies and procedures also guides the behaviour of the employees in
the organisation as well as their potential action in a particular given situation.
CONCLUSION
From the above discussion, it can be concluded that it is very significant for the Marriott
organisation to regulate the appropriate set of compliance procedures. The respective practice
can help the firm to lead more productive operations which are acceptable by the legal norms
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formulated by the governmental authorities and associations. Hence, it can be stated that legal
compliance can potentially transit into an asset to the Marriott firm and can also assist the same
in realising more success and sustainability in its respective market environment.
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REFERENCES
Books and Journals
Murakonda, S.K. and Shokri, R., 2020. Ml privacy meter: Aiding regulatory compliance by
quantifying the privacy risks of machine learning. arXiv preprint arXiv:2007.09339.
Goh, E. and King, B., 2020. Four decades (1980-2020) of hospitality and tourism higher
education in Australia: Developments and future prospects. Journal of Hospitality &
Tourism Education, 32(4), pp.266-272.
Cerchione, R. and Bansal, H., 2020. Measuring the impact of sustainability policy and practices
in tourism and hospitality industry. Business Strategy and the Environment, 29(3),
pp.1109-1126.
Kim, S., Kim, P.B. and Lee, G., 2021. Predicting hospitality employees’ safety performance
behaviors in the COVID-19 pandemic. International Journal of Hospitality
Management, 93, p.102797.Cabral, C. and Jabbour, C.J.C., 2020. Understanding the
human side of green hospitality management. International Journal of Hospitality
Management, 88, p.102389.
KWAN, J.H. and Lau, W.Y., 2020. Do firm characteristics and industry matter in determining
corporate cash holdings? Evidence from hospitality firms. The Journal of Asian
Finance, Economics, and Business, 7(2), pp.9-20.
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