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Swot analysis hospitality industry
SWOT analysis for hotel industry
SWOT analysis for the hotel industry
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Recommended: Swot analysis hospitality industry
Memorandum
Date: April 24th, 2014
From: Hang Ha, Duong Luong
To: College students and college graduates who are interested in working in hospitality industry
Subject: Kimpton Hotels and Restaurants – Do you want to be a happy employee?
Scope
The research mainly looks at Kimpton hotels and restaurants’ corporate culture, trying to draw a big picture of what it is like to work for this company: How does this company manage its employees? What are the distinct traits of Kimpton’s corporate culture? and similar questions… This can be a useful source for college students and graduates who are passionate about service and hospitality industry because information is provided from a job-seeker’s viewpoint. All the information that a future Kimpton employee needs to know beforehand is delivered in a clear and organized manner.
Our report includes a SWOT analysis of the company’s corporate culture and develops an implementation plan for future candidates. This report is significant because a good job in a suitable company is decisive to success in career path. And finding the matching employer is the start of all good things in your career life. We identify this company as a good and responsible employer as Kimpton hotels and restaurants is a hospitality company listed in 100 best companies to work for in 2013 according to Fortune magazine. This company with unique corporate culture that can motivate and engage its employees is a good choice to students. With understandings about the company, we develop a competitive strategy for you, new college graduates, or undergraduate students to survive the application process and get a job at Kimpton.
This analysis may not be useful to investors as it focuses on corporate culture and wo...
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...when they expect to work for Kimpton. Its strength also lies in open and free working environment that offers carreer development programs and promotes organizational and individual learning; while its weaknesses include unstructured operation and especially pressure when working in a fast-paced industry to advance to higher hierarchy for better salary.
Expansion has long been a key strategy in Kimpton’s development. This expansion promises a lot of employment opportunities. Industry general trend and changes and customers’ preference are currently supportive of the strategy. While there is always uncertainty due to competition and economy’s health, this hotel chain with its mission statement to become “a company that celebrates you for being you” is striving to be dominant in boutique hotel industry and undoubtedly, the best employer.
Each organization big or small has its own values, ways of doing things and assumption that it operates in. The principles and ethics that exist in each of these companies are the baseline through which the company operates its affairs. This is what can be called as that organization’s culture. The culture in existence has an impact on the productivity, effectiveness and efficiency (Keyton, 2011). The basis of setting the most appropriate culture of a company is not only to move or increase the profitability but also to make the stakeholders happy and satisfied. One aspect of that is the employee or the human resource the firm who put their expertise in the firm and add a bit of creativity and innovativeness to move the products. Chick-Fil-A operates in a competitive industry thus it requires all the stakeholders.
As all organizations are striving to meet goals and objectives of the business, so must any comprehensive staffing strategy. Applying this to Tanglewood, the leadership realized that the business must remain competitive with their rivals of Kohl’s and Target. Even so, the company’s culture and values has set them apart, where employee involvement, engagement, and recommendations have been truly valued.
Within the Brookfield’s Restaurant organization there is a problem of having a high turnover rate, which is dependent on employee’s motivation as well as how much they feel they are involved in the company culture. Since the restaurant is a fast paced food service industry that requires employees to be capable of handling the pressure of dealing with many customers’ demands while also providing a high level of service to each guest which can be hard for many, making them less motivated to work. Also, the company culture is important by making the employees feel welcomed in the company and to help support them while on the job, so as to the employees want to stay on the job and not wanting to leave. We will provide an analysis showing employee’s work motivations and involvement in the company culture to determine if these factors are the cause of the high turnover rate.
This article is about Harrah’s Entertainment; one of the largest casino entertainments made a decision to move away from being a product based company to a strategic marketing company geared towards customer satisfaction by implementing a customer focused rewards program. Bill Harrah, the founder of the company established the company’s reputation on the premise of pride of the employees working for “the best in the business” while given more attention to the condition of the properties. However, when Gary Loveman joined the company as the new Chief operating officer, he made a move towards customer service. Gary Loveman hired Marilyn Winn, the head of Human Resources, to change how the company engaged in people development. Winn came up with a strategic plan to develop Harrah’s human capital. As a result, Winn is faced with the difficult task of improving employee motivation and job satisfaction in a rough economy after 9/11, which changed our nation forever. Although, the company gained market share it did not quite meet the company’s projected level.
Simon, E. (2003). Successful hotels use hands-on hiring, retention practices. Hotel & Motel Management, 218(11), 54.
One of the leading organizations that follow the servant leadership style is the coffee giant, Starbucks. The basis of the company’s organizational culture is the servant leadership principles. These principles pervade every aspect of their business. The company believes in caring their employees first, as they are the one who takes care of the customers (Ferguson, 2015). The hiring and management of the staff, the way the staff work and interact with one another, serving the customers all represent the organizational culture, their policies, and operations.
The Hotel industry has become very important in the past years due to immense traveling and growth of international business. Hotel industry not only plays an important role in the life of people but as well as the economy of the country. Development and advancement in the Hotel industry have rapidly been taking place and especially since the rapid change in technology, it is very important for hotels to be promptly keeping up to date. When the hotel industry is spoken of, there are many famous hotels but one hotel company that has been outstanding in growth and other aspects of business, like in Leadership, Teamwork (Employee turnover), Motivation (Customer retention and satisfaction, Goals and objectives, (changing the way hotel business has worked), and Change within the company; structurally inside and physically outside, adding elements, like entertainment, gaming, and outdoor activities, is the Hilton Hotel Company.
Hilton Worldwide carries out business through three segments: (1) management and franchise; (2) ownership; and (3) time-share. These business segments enable management to capitalize on strengths like brand recognition and economies of scale. The company focuses primarily on the management and franchise segment which consist of 3,918 hotels with 610,413 rooms. Managing the properties, rather than owning them, allows the company t...
“One of the most distinct reward schemes utilized at Hilton hotel is the “Spirit to Serve”. Hilton’s most vital concern is the employees and is considered as the most vital principle in the hotel. Employees always search for an environment where they can adjust themselves better, satisfy their mind and soul and personal development. Hilton offers a home like atmosphere and pleasant working environment to their colleagues thus holding a reputation of employee caring, dependable associates which are not only ethical in their jobs but trustworthy.
At the beginning of 1993, the company introduced a new Group Mission. Statement that has been rolled out to every member of staff through personal presentations by the Managing Director at every hotel and corporate office. This Mission Statement has been published in English, Chinese, Thai and Indonesian, and serves as a model for that. it conveys guidelines and criteria that can be used by hoteliers who wish to monitor and evaluate their own leadership and quality. improvement efforts.
The Ritz-Carlton Hotel Company has achieved so much fame in their marketplace that they have attained what is referred to as “The Ritz Mystique.” Among the grand hotels of the world, The Ritz-Carlton hotels and resorts are famous for luxury, spectacular surroundings and legendary service. They have gained this title with dedication and award-winning hotels that reflect the 100 years of tradition that stand behind them. Discovering the fascinating history of Ritz-Carlton hotels, illustrates their commitment on relentless training to improve their quality in service and their strategy. Ritz-Carlton has achieved a Gold Standard of value and philosophy by which they operate.
The reason I chose the Hotel Management industry is because it is a career path that I have always been interested in and curious about. It is a fast growing widespread global industry. I’ve always wanted an exciting career, which would integrate my business and creative skills in a way, which would be more energetic, active and fun than most orthodox and boring office desk jobs. I also desired to work in an industry, which I was fervent about. For my first year Applied study period I had the opportunity to work at The Taj hotels, resorts and palaces, India and my experience there established many of my principles of how the hotel industry operated. Despite my refining on the job experience, that allowed me to explore the various departments and requirements of the everyday job, I had never elaborately researched the prospects of working and skills and requirements required in the Hotel Management industry; and this Is exactly what I aim to accomplish with this report.
Organizational culture is the key to organizational excellence and leadership is a function to create and manage culture (Chen 1992). Organizational researchers have become more aware of the importance of understanding and enhancing the cultural life of the institution. "This study is one of a group of companies with high-performance in North America, interest in organizational culture is an important element in organizational success. Tesluk et al (1997). Looking at the" soft "of the organization, the researchers claim that" the organizational culture may be suitable for a means to explore and understanding of life at work, and make them more humane and more pronounced (Tesluk et al, 1997), and the graves (1986) also stressed the importance of corporate culture, and the need for research strategies and methods of investigating the various elements and processes of the organizational culture. He argued the culture that meets the basic needs of belonging and security in an attempt to describe this gathering that culture is "the only thing that distinguishes one company from another gives them coherence and self-confidence and rationalises the lives of those who work for it. Standard that may seem random, is to enhance the life to be different, and safe to be similar, and culture is a concept that provides the means to achieve this compromise (p. 157).
Unlike other industries where workers do not interact with their customers, the hotel industry is very different. The employees are in constant touch with their clients and they must, therefore, show dedication in
“My learning experience, things I can achieve, the decisions I make, the people I meet and befriend and the mistakes I make tells me who I am now and who I will become.” As a child, this was a belief that my parents taught me and, so I grew up with it and became very devoted to follow it. My parents always said to me “Learn all you can.” They also taught me that the decisions I make will help me to build my own destination, and the way I treat others will say the person I am. Until this day, I continue to believe, apply and follow that belief. Today, Hospitality Management is my number one career choice I have chosen to work for the rest of my life. In many different ways, Hospitality Management reflects my third, fourth and fifth of