Ritz Hotel: Comprehensive Business Analysis and Strategy Report

This report presents a business analysis of the Ritz Hotel, focusing on its entrepreneurial aspects within the hospitality industry. The analysis includes the motivation behind the business choice, the process of generating the business idea, and the feasibility studies conducted. It details the products and services offered, identifies potential market opportunities, and assesses the attractiveness of the industry using Porter's Five Forces model. The report also outlines the business's vision and concludes with references to relevant academic sources. The Ritz Hotel's business strategy, including its focus on customer satisfaction and expansion, is examined throughout the analysis, providing a comprehensive overview of its operations and entrepreneurial approach.

Enterprise and
Entrepreneurship

Table of Content
 Introduction
 Motivation for choice of business
 The process you went through to generate this business idea
 Feasibility studies conducted
 Details of the product/service to be offered
 Potential market opportunities
 Attractiveness of the industry
 Vision for your business
 Conclusion
 References

Introduction
 Entrepreneurship refers to create new business idea and bear risk to earn
profit. This PPT include study of Ritz Hotel, London which is UK based
company working in hospitality industry.

Motivation for choice of business
 Motivation to choose idea of business that is Ritz Hotel is to gain knowledge
about hospitality industry and their operation. The business works with
motivation of meeting needs and requirements of travellers as well as foster
employment opportunities for residents.

The process you went through to generate
this business idea
 Key steps involves in the process for generating business idea of Ritz Hotel is
as follows:
 Strategic Position
 Prioritisation of objectives
 Development of plan
 Execution of plan

Feasibility studies conducted
 Feasibility test refers to a test which evaluate practicality of a project and include various
factors to assess whether propose project is relevant or not. Following are feasibility test
which is conducted by manager of Ritz Hotel London
 Technical Feasibility
 Economic Feasibility
 Legal Feasibility
 Operational Feasibility
 Scheduling feasibility

Details of the product/service to be offered
 Key products and services that are to be offered by Ritz London includes free
Wi-Fi service, restaurant, air conditioning, breakfast availability and many
more. This services helps organisation to meet requirement of customer and
make them satisfied with companies.
 Moreover, the business will also provide various travelling services to its
potential and prospective customers.

Potential market opportunities
 There are various opportunity for Ritz Hotel London as they can expand their
business by providing restaurant services to their customer. Moreover,
diversification strategy is one of potential market opportunity for Ritz Hotel to
expand the business in international aspect.

Attractiveness of the industry
 To analyse attractiveness of the industry, managers of Ritz Hotel uses Porter’s
five force model that includes mentioned below forces:
 Competition
 Bargaining power of buyer
 Bargaining power of Supplier
 Threat of Substitute
 Threat of new entry

Vision for business
 Vision is the ultimate goal of company which they want to achieve and
is future oriented. Vision of Ritz Hotel London is make customer
journey most beautiful.

Conclusion
 From above mentioned PPT it can be concluded that entrepreneurship refers to
generation new business idea in market and bear risk to generate profit in
market. To have business, a firm need to create a business idea which require
assessment of business position, prioritising business objectives, development
and execution of business plan.

References
 Burnett, K.A. and Danson, M., 2017. Enterprise and entrepreneurship on
islands and remote rural environments. The International Journal of
Entrepreneurship and Innovation. 18(1). pp.25-35.
 Dionisio, M., 2019. The evolution of social entrepreneurship research: A
bibliometric analysis. Social Enterprise Journal.
 Mukhamadeev, I., Makhova, L. and Kurilova, A., 2019. The Role of
Information Systems for Entrepreneurship Education and Enterprise in
Developing Countries. Journal of Entrepreneurship Education. 22. pp.1-11.