1. According to the Human Life Cycle model, The Ritz-Carlton is in the Entrepreneurial stage of development. The hotel is approaching its opening date and they need to maintain necessary employees and continue to expose them to the standard operations of the Ritz-Carlton. The Entrepreneurial stage for a company is oriented around surviving in the industry and managing its newly recruited employees. It is imperative for a company in the entrepreneurial stage to amalgamate new employees into the culture of the franchise while securing resources and establishing an identity. Even though the Ritz-Carlton is a notoriously successful hotel management company, there is no guarantee that the hotel will survive in Washington DC and therefore it is crucial …show more content…
Job design is defined in the textbook as "the process of deciding what tasks will be grouped together to define duties of someone in a particular work position" (Stewart 135). It is important for McBride to align the company business model with how he manages the new Ritz-Carlton and all of its employees. Because the Ritz-Carlton employs the loyal soldier strategy, I believe that using the Motivational approach for their work design would be the best fit because it entails fulfilling the needs of workers and providing them tasks they find meaningful. It is not surprising that this is precisely what the Vice President Inghilleri was mentioned stating earlier about how providing an ample amount of resources to employees to earn loyalty and a mutually beneficial relationship can drastically reduce turnover rates as well as improve general employee productivity. Once upper management can successfully intrinsically motivate its employees, they will begin to work for the Ritz-Carlton, and not simply just a paycheck. In addition, the Ritz-Carlton is known for its employee-centered orientation, and are already using the motivational approach to inspire innovation and creativity among their employees as well as properly motivating them to perform to the best of their abilities. If they can eliminate any issues with the process of training and maintaining employees, the Ritz-Carlton will be able to devote more time and effort toward expanding and improving other aspects of the hotel. All in all, I believe that exercising HR practices such as meeting employee needs and promoting the welfare of all staff members will help maintain a friendly, collaborative work environment that will stimulate growth and
Colleen Ballinger utilizes the four characteristics of an opportunity to build and maintain her successful career as an entrepreneur.
There are different strategies that must be considered by the organisations operating in hospitality industry. The contributions made by the firm donate towards the performance and achievement of the company. The purpose of this paper is to analyse the strategies of the hotel, which serves as the basis of success. This paper is divided into five different tasks each of which is focusing on various aspects of the hotels performance. The organisation that is selected in order to answer the tasks is InterContinental Hotel Group.
Introduction – Marriott’s HRM and Business Strategic Alignment This paper will propose a Human Resources (HR) strategy that is in alignment with Marriott’s business strategy, as well as describe several HR job positions and responsibilities listed for them. Next, this paper will determine which HR job positions I prefer and why. Finally, it will analyze how Marriott can establish HRM strategies to improve its competitive advantage, as well as three ways it can increase diversity.
Specify organisational standards of customer service So the customer segment of the Ritz-Carlton is a wealthy clientele who has very high expectations since they use to get upscale products because they are ready to pay more to have more. Therefore, the differentiation of the Ritz-Carlton is made on an efficient and effective customer service. As we know the needs are general but the wants are specific, so the companies have to make the difference so as to become the customer’s wants. For example, customers will need to book an hotel room but some customers will want to book an Ritz-Carlton hotel room.
Weighted average cost of capital for Marriot Corporation: In order to determine cost of capital, first we need to find out cost of equity and cost of debt. For determining the cost of equity we need to determine the beta for the target leverage ratio. According to the information provided by exhibit 3 equity beta is estimated at 0.97 when equity-to-total capital ratio is 0.59. Therefore we need to find unlevered beta value so that we can find firm’s equity beta at the desired leverage ratio as mentioned in Table A. Tax bracket of 44% is used based on ratio of income taxes to income before income taxes (175.9/398.9) in Exhibit 1.
CASE JOURNAL-ROSEWOOD HOTEL& RESORTS Rosewood’s management is on the right track to increasing brand awareness among its customers by pursuing the corporate branding strategy. Implementation of the corporate branding strategy not only increases the number of repeat visitors to the hotels, but also increases the gross profits made by the company by $2,599,000. Corporate branding has a positive impact on the customer lifetime value as well. Rosewood Hotels & Resorts is a privately owned hotel management company that is known for its unique properties like The Carlyle and the Mansion on Turtle Creek that differentiates the company from other luxury hotel competitors.
Motivation is essential for a group as well as an organization. In the eyes of the leader of organization McDonald’s, authorizing and inspiring staff members to do the best in their job and they’re capable of helps create job satisfaction, lowering gross revenue in an industry that has a standing for stimulating its employees. In addition, a glad, stable workforce not just conveys better customer service; it is likewise more compelling at building deals and attracting repeat business. There are five concentrate benefits of employee motivation which Mc Donald’s approached at: 1. Improved Productivity 2.
Marriott International vs. Airbnb Although Marriott International has a competitive advantage of being the largest hotel company in the world, experiencing years of remarkable growth with the acquisition of Starwood Hotels, and ranking at number 163 on this year’s Fortune 500, it operates in a highly competitive market. The recent success of Airbnb, for example, has had major effects on the hotel industry as it has quickly become a threat. Airbnb, founded in 2008, is an online hospitality service that provides short-term lodging and unique travel accommodations around the world with more than 3,000,000 lodging listings in 65,000 cities and 191 countries.
The purpose of this report is to find solutions to the prevailing issues in Ritz Carlton like an increase in absenteeism, demotivation, a decrease in productivity level as well as discrimination, underpay and conflicts arising between team members. For the purpose of this assignment, the focus will be on providing recommendations to improve the culture, working environment, structure, motivation of employees and strengthen team-working. Ritz Carlton is using a hierarchical and centralised structure, first of all, different type of structures will be proposed to find the right one.
Introduction In today’s business, maximization of profits represents the principal feature of business operations. In order to achieve the highest profits, companies have to manage their human resources effectively. Thus, employee’s motivation has emerged as a critical component, it holds the key to the success of a company. Therefore, human resource managers must motivate their employees to let them perform to their best and achieve the organizational goals.
There are basically numerous organizations that are familiar to me; however, the organization of my emphasis is Ritz-Carlton hotel, founded in 1983 and headquartered in Chevy Chase, Maryland, United States of America (Ritz-Carlton Hotels & Resorts, n.d.). The Ritz-Carlton is a mogul in the hotel and resort industry and its overall competitive environment is obvious as more individuals and corporate bodies are infiltrating the industry. Like any other organization in an industry, Ritz-Carlton is faced with the five forces described by Michael Porter. First, hotel and resort business is quite
Question - How might a manager redesign the job of a person who delivers newspapers to raise levels of the core job dimensions identified by the job characteristics model? Solution- Redisgning of job includes taks, responsibilties and duties of a job so as to make it more encouraging and inspiring for the employees and workers. Advantages of Job Redesign Enhances the Quality of Work- Job redesigning motivates the employees and enhances the quality of work . It increases their on-the-job productivity and encourages them to perform better.
The Hotel Concept selected for this report is the new innovative hotel concept developed by YO founder Simon Woodroffe and YOTEL
Analyze the company internationalization. (Are they operating internationally, if so where? And how are they performing over there?) Shangri-La hotel and resorts was originated in 1971 and was a flagship hotel in Singapore. Currently there are fifty five deluxe resorts and hotels around the world based on the Hong Kong hotel chain.
Nowadays, most of the corporations’ top managements and CEOs understand how significant employee motivation is in the workplace as well as in the business environment. AirAsia is one of those successful corporations which focus on its employee motivation and rewarding system by holding onto theories such as the McClelland’s Three-Needs Theory and Maslow’s Hierarchy of Needs Theory. McClelland’s Three-Needs Theory proposes that there are three major motives in work which are the needs for achievement, power and affiliation. By practicing this theory, AirAsia would have better guideline and standards in recruiting and promoting its employees.