Ritz Hotel: Comprehensive Business Analysis and Strategy Report

Verified

Added on  2022/12/27

|13
|597
|87
Report
AI Summary
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.
tabler-icon-diamond-filled.svg

Contribute Materials

Your contribution can guide someone’s learning journey. Share your documents today.
Document Page
Enterprise and
Entrepreneurship
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
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
Document Page
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.
Document Page
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.
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
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
Document Page
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
Document Page
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.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
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.
Document Page
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
Document Page
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.
tabler-icon-diamond-filled.svg

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
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.
Document Page
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.
Document Page
Thank You
chevron_up_icon
1 out of 13
circle_padding
hide_on_mobile
zoom_out_icon
logo.png

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]