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Lessons in the pearl
SWOT analysis of the hospitality industry
Lessons in the pearl
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COMPANY PROFILE Our vision We are committed to dynamic growth and service excellence built upon our heritage of traditional hospitality. We strive to consistently meet and surpass guests, employees and others stakeholders expectations. We feel pride in making efforts to position Pakistan in the forefront of the international arena. Our Core Values - G.R.I.T Growth & Development Recognition & Reward Innovation Trust Recognition and Reward Achievement orientation Performance-based evaluation Appreciation Incentives Setting ever-rising standards of performance Innovation Listening and two-way interaction Participation Encouragement Motivation Enterprises Trust Cooperation Support Teamwork Sense of ownership Empowerment Integrity Dignity Respect Candidness Growth & Development For All Competence and contribution as the only basis for job security Promotion from within Learning environment and opportunities Provision for world-class education and training Aligning people with latest technological trends INTRODUCTION TO PEARL CONTINENTAL History The Pearl continental chain in Pakistan is owned by the Hashwani group under the holding company Pakistan Services Ltd (PSL) and Hashwani Hotels ltd respectively. The Pearl chain was acquired by the group in 1985, at a time when the image of the hotel was deteriorating due to service inefficiencies. At this time the name of the hotel was changed from Hotel Intercontinental to pearl continental, and several efforts were made to upgrade its image. These included a new décor and fresh landscaping of the hotel grounds as well as upgrading of food and service through t... ... middle of paper ... ...alysis. In the SWOT analysis we came to know about their strengths and the weaknesses of a hotel industry and especially of PC hotels. We learned how they can enhance their strengths and over come their weaknesses. SWOT analysis also gives an idea of opportunities and the threats for PC. We analyzed how they can take full advantage of the opportunities and guard against the threats. Analysis of Critical Success factor (CSF) helped us to learn about the factors which are essential for success for a hotel. CSF helps define business strategies . It is basically those things which must go right if the objectives are to be achieved. We analyzed the competitive forces in an industry to help define an appropriate overall business strategy. It basically helps to determine which of the forces pose a major threat to the future success of the business and in what way.
A SWOT Analysis can be powerful to any company. The SWOT analysis for PetSmart allows them to expose opportunities that otherwise could be missed ("SWOT Analysis," n.d.). An additional benefit of a PetSmart SWOT analysis is gives the company an understanding of their weaknesses, which can result in a competitive edge for its competitor. Understanding strengths, weaknesses, opportunities, and threat as a company will give PetSmart an advantage over a company who chooses to ignore this type of analysis. In addition, PetSmart can eradicate any possible threats that could catch them off guard ("SWOT Analysis," n.d.).
As strategy consultants of McCormick & Associates, we use Porters Five Forces Model as a framework when making a qualitative evaluation of a firm's strategic position (Appendix 1.2). These five forces determine the competitive intensity and therefore attractiveness of a market. These forces affect the ability of a company to serve its customers and make a profit. A change in any of the forces normally requires a company to re-assess the market place.
The 5-Force Industry Analysis first introduced by Michel Porter, Harvard Business School professor, a quarter-century ago. This theory examines the suppliers, buyers, product substitutes, existing firms’ rivalry and new entrants in a firm’s product market.
The following describes a more detailed description for the SWOT analysis. The first acronym is S for strength. The first strength is brand recognition. The hotel has a competitive edge due to its brand loyalty and aftermarket sales. It also drives the firm toward growth and expansion. This will also benefit the stakeholders with stock in the company Second is social responsibility the Wyndham company works to maintain social responsibility
A SWOT analysis is simple exercise that could be implemented on multiple subjects including an individual or a whole corporation. The SWOT analysis is an operational tool for managing change, defining strategic direction and setting realistic goals and objectives according to Simoneaux and Stroud (2011). Discovering new opportunities and manage and eliminate threats that are present in the company and the surrounding market. SWOT is a valuable technique that leads to a better understanding of the strengths, weaknesses, opportunities and treats both internally and externally. The strengths and weakness are to be considered internal factors and opportunities and threats to be e...
The definition of SWOT analysis is comprehensively summaries the internal and external conditions, critical evaluate advantages and disadvantages of organization, facing the opportunities and threats, in order to the combination of company 's strategy and internal resources and external environment (Yuan, 2013). In contrast, SWOT analysis method is a descriptive model, because the enterprise strategy is often a typical uncertainty problem, the lack of adequate analysis and logic, and a SWOT analysis cannot provide the specifically, format of strategic advice (David,
Five-force analysis provides a means of identifying the forces which determine the nature of the competitive environment, especially in terms of:
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.
Porter’s competitive forces model includes five forces that need to be analysed. These forces include the intensity of rivalry from traditional competitors, threat of new market entrants, threat of substitute products and services, bargaining power of customers and bargaining power of suppliers (Laudon & Laudon, 2007). See diagram below;
Porter’s five forces is a framework for analyzing an industry and business strategy development. It looks at forces that determine the competitive intensity of an industry and hence the overall attractiveness of that industry. The configuration of the five forces differs by industry. Understanding the competitive forces and their underlying causes reveals the roots of an industry’s current profitability while providing a framework for anticipating and influencing competition over time.
Because the subject matter of strategic management is so inherently complex and because each one of us brings his own personal biases to the analysis, it was suggested early on that virtually all case material in the field be analyzed from the perspective of more than one methodology. Profit theory and industrial chains were selected as the first of a number of viable approaches to the analytical process. It would have been equally correct to select the Five Competitive Forces analysis refined by Michael Porter, one of the major figures in the field of strategic management. This methodology addresses the same issues but differs only in the language that they use to describe corporate behavior. The five forces are:
The Porter five forces model (see Appendix 1) as an external analysis tool was established by Michael E. Porter and firstly announced in his book “Competitive Strategy: Techniques for Analyzing Industries and Competitors” in 1980 . The main idea of the Porter five forces concept is that the attractiveness of a market depends on the characteristic of the five competitive forces that have an impact on a company (see Appendix 2).
They are committed to making a difference every day; continually improving. better to keep us the best. The guiding principles Delighting their guests They will strive to understand our client and guest needs by listening. to their requirements and respond in a competent, accurate and. in a timely fashion.
The SWOT analysis is used to gauge a company’s strengths and weaknesses. It also outlines opportunities for tapping and presents possible threats that could affect a company’s operations.
Helped With unique efforts by government and all other stakeholders, including hotel owners, resort managers, tour and travel operators and employees who work in the sector, Indian hospitality industry has gained a level of acceptance world over. It has yet to go miles for recognition as a world leader of hospitality.