Strategic Management of Hyatt Regency-Free-Samples for Students

Question: Conduct a research on the following aspects of strategic management of any one of the chosen Organizations that are serving the Global Consumer Market. Answer: Insight into the Hyatt Regency Hyatt Group operates under hospitality industry, catering to the entertainment needs of the customers. As a matter of specification, the Group is the parent company for hotels and resorts. One of these is Hyatt Regency in Dubai. The hotel was launched in 1980 and since then, it is a 5 star hotel, located in Deira district of Dubai (Hyatt.com, 2018). The guests can easily reach the hotel from metro station or airport. The elegant guestrooms and suits possess flexibility to lure the guests from foreign countries. The provision of sightseeing makes the guests acquainted with the spectacular cultural heritage, of which Dubai takes pride. The cuisine offering fusion foods gains prominence. Along with this, there is extensive presence of recreational facilities- fitness centre, swimming pool, games section among others. Apart from this, the hotel hosts business meetings and weddings in 4000 square metre of halls. Hyatt Hotels Corporation is entrusted with the responsibility of looking into the efficient execution of the business activities (Hyatt.com, 2018). Mission and vision statement The mission statement of Hyatt is to deliver quality services to the guests. A caring approach to the guests helps the hotel personnel in making the mission successful. This caring and understanding approach reflects the vision statement of the hotel, that is, the creation of a world of care, compassion and understanding. Exposure of teamwork by the skilled and efficient workers makes the mission statement a realistic one. Researching and development innovative means of carrying out the business activities reflects the measurability of the mission statement proposed by the personnel of Hyatt Regency (Hyatt.com, 2018). Consciousness towards the values of respect, integrity, humility, empathy, creativity and fun, helps the personnel to take better care of the needs, demands and requirements of the customers. Internal and External environment This section would deal with the internal and external environment of Hyatt Regency, Dubai. SWOT Strengths One of the greatest strengths of Hyatt Regency is the provision of luxurious accommodation facilities. Along with this, the supply chain network of the hotel is widespread, which results in the fulfillment of the specific tastes and preferences of the customers. The location of the hotel is advantageous in terms of travelling from airport and metro stations. Availability of the fusion foods satisfies the adrenaline rush of the customers. Free Wi-Fi eases the process of check-in and checkouts. Weakness Financial inflexibility results in difficulties in providing quality services to the customers. Delay in repayment of the loans shuns the services of internet within the hotel premises. Opportunities Sponsoring business events and marriages can increase the sales revenue and profit margin. Sports events can be an agent in terms of enhancing the brand image. Free Wi-Fi can be used for asking the guests to rate the customer service while checkouts. Threats Negligence in adhering to the terms and conditions adds vulnerability to the market position of the hotel. Along with this, lack of security guards adds to the life risk of the people during the events as well as the children enjoying in the parks and swimming pools. Table: SWOT analysis of Hyatt Regency (Soure: Hyatt. com, 2018) PESTLE Political unrests and harsh governmental policies act as obstacle for Hyatt Regency in executing the business activities. Instabilities like inflation, fluctuation in the prices and high exchange rates compels the hotel personnel in setting prices of the rooms and other services. Adopting latest and modern technologies reflect the technological advancement for the hotel. Typical example of this is the provision of free Wi-Fi in the hotel premises (Hyatt.com, 2018). This technological parameter aligns with the latest trends of being tech savvy. However, partnership with the trade union members and the statutory bodies helps the personnel to avert illegal scandals and issues. Adhering to the environmental directives helps the Hyatt Regency personnel to contribute in the preservation of the ecological diversity. Typical evidence of this is the solid waste management. Sectorial influence on competitiveness within the industry Introducing lucrative offers, schemes and discounts for the customers would result in improving the sales revenue and profit margin. Along with this, searching for innovation in the quality and standards of business services would help the hotel to achieve competitive edge over the contemporary brands (Hyatt.com, 2018). However, taking into consideration Porters Five Forces would help the personnel to understand the nature of competition. This understanding would be crucial in terms of indulging in fair trades and transactions with the stakeholders and shareholders. Strategies for organizational excellence In order to achieve organizational excellence, Hyatt Regency needs strategies. This is in terms of strategizing the business activities according to their priority. For this, review of the current business practices is crucial in terms of proposing necessary changes. Involving the stakeholders and shareholders in the review process would prove effective in terms of assessing their effectiveness, appropriateness and feasibility. Countering this, effective and judicious use of the organizational resources is crucial in terms of enhancing efficiency in the business activities (Hill, Jones Schilling, 2014). Along with this, lab tests regarding the foods needs to be done. This is in terms of catering to the health issues and appetite needs of the customers. Apart from this, the internet services also need to be tested frequently for averting defects and malfunctions. Hiring experts can be effective in terms of avoiding complaints from the customers regarding inferior quality service. Steps taken to discourage unethical behavior Unethical behavior is not tolerated within the workplace of Hyatt Regency. This is because it deviates from the goal of customer satisfaction. For this, training needs to be provided to the staffs regarding improving the customer service. Taking post-training test would help the managers to assess the capability of the managers in terms of making practical application of the learnt skills in executing the workplace operations. These tests would help the managers to appraise the performance of the staffs and allocate the tasks according to their capacity (Wheelen et al., 2017). This would generate trust, dependence and reliance among the customers regarding the services of Hyatt Regency Recommendations for organizational change Partnerships with the research and development team can help the personnel with quality products. This would enhance the stability in the relationship between the personnel and the suppliers. As an example, partnership with the fashion designers would provide the hotel with exquisite design tapestry. Collaboration with the food retailers would help the hotel personnel to serve fusion foods to the guests. However, experts need to be hired for testing the presence of non-eatable items in the produced foods (Slack, 2015). Evaluation is crucial in terms of bringing into the forefront the drawbacks within the delivery of the services. This needs to be done in presence of the staffs, board of directors, stakeholders and shareholders. This evaluation would serve as a platform for the staffs to clarify the doubts in the business operations, nullifying the scope of mistakes. Consistency needs to be maintained in the execution of evaluation. This is in terms of upgrading the standards and quality of the business services. Using templates would help the personnel to be aware of the changes made and the changes left to be achieved (Rothaermel, 2015). This awareness helps the personnel to make estimates regarding the progress in response to the proposed changes. Creating action plans would be an agent towards achieving organizational excellence. Feedbacks need to be taken from the guests in terms of improving the quality of the business. Uploading the feedback forms on the official websites and social networking sites would help the personnel to reach to a large number of audiences in a single time. This addition would be a gradual progression towards penetrating into the foreign markets for enhancement of reputation (Lasserre, 2017). References Chen, C. M., Delmas, M. A., Lieberman, M. B. (2015). Production frontier methodologies and efficiency as a performance measure in strategic management research.Strategic Management Journal,36(1), 19-36. Frynas, J. G., Mellahi, K. (2015).Global strategic management. Oxford University Press, USA. Gamble, J., Thompson, A. A. (2014).Essentials of strategic management. Irwin Mcgraw-Hill. Hill, C. W., Jones, G. R., Schilling, M. A. (2014).Strategic management: theory: an integrated approach. Cengage Learning. Hyatt.com (2018), About us, Retrieved 26th March 2018 from https://dubai.regency.hyatt.com/en/hotel/home.html Lasserre, P. (2017).Global strategic management. Palgrave. Morschett, D., Schramm-Klein, H., Zentes, J. (2015).Strategic international management(pp. 978-3658078836). Springer. Rothaermel, F. T. (2015).Strategic management. McGraw-Hill Education. Slack, N. (2015).Operations strategy. John Wiley Sons, Ltd. Wheelen, T. L., Hunger, J. D., Hoffman, A. N., Bamford, C. E. (2017).Strategic management and business policy. pearson.