EG 700 MSc International Hospitality Management Assignment Sample
Module code and Title: EG 700 MSc International Hospitality Management Assignment Sample
Introduction
International hospitality management has been identified to be highly essential, for systematic improvised business benchmarks among companies to bring on wider horizons of technical expansion. International hospitality organizations are taking profound steps for business strategic decisions, and financial growth influences impacting business. Marriot is an international brand, having the best hotels and resorts operating within the global level with the best range of hospitality services.
External and financial factors have high critical importance for businesses, to significantly add on profound importance for new analytical parameters to be explored wider primitive successful growth. The report will evaluate factors that may influence and impact both international markets, the financial influence of the sector, and wider proactive dimensions that impact businesses. The study will also specifically analyze the critical influence of business dimensions, models that play essential role in enlarged aptitude to strengthen corporate decisions.
Discussion
Significant factors that may influence business and its impact on international markets
External business environment analysis plays critical importance in evaluating international market growth aspects dynamically, by strengthening wider evolved criteria for enlarged commercial pace. Marriot is one of the best international brands in the hospitality sector, where it is one of the major companies evolving to bring new competitive international segments to expand critically.
Hospitality season faces challenges such as environmental risks such as Covid-19, which enlarges sustainable challenges to be operated within longer time period. Increased hospitality management, irregular cash inflows and data security challenges are some of the major factors that businesses face in international markets. Marriot faces competitive international markets, to be primitively evolved for authentic enlarged growth diversely.
As per the views of Lium (2022), it largely enlarges focus on the fact that international hospitality organizations have primitive importance for companies enlarged new functional growth to be expanded. Marriot is one of the best hospitality organizations, further aiming to collectively enhance business operations fundamentally.
Various factors are critically essential, to lead towards enhanced critical improvised benchmarks rapidly and lead diverse mechanisms to enhance vision. Companies are also investing in new informative business benchmarks, to lead towards proactive horizons for enlarged aptitude dimensions functionally grow.
As stated by Luo (2022), external and internal business horizons within international markets are critically essential to be identified, for strengthened commercial goals to pertain profoundly. The author has stated critical adherence to fact, where international markets in the hospitality sector have high scope to evolve toward new analytical aspects evolvement.
It can be also stated that external dimensions such as AI and IOT, change management, and leadership lead towards optimum improvement for specific business horizons and play a critically important role. Leadership theories and analytical innovation further play an essential role to lead improvised ideologies dynamically and lead diverse mechanisms to change rapidly.
Porter five force analysis
The porter five force model will be keenly analyzing external factors of business horizons, that are widely crucial to be worked on rapidly. External factors in the sector hold high importance, to deliver a larger technical imperative role for analytical strengths to be worked on fundamentally. New external factors must be analyzed systematically, where Marriot is wider new working criteria fundamentally.
Competitive rivalry within the industry (High): Marriot faces a high threat from competitive rivalry within the industry, where various new companies and brands are coming up within the sector (Nambisan, 2022). It signifies that competitive rivalry being strong further advanced scope to enlarge up new segments critically, with new finance investment rise and enlarged competitive growth.
The threat of new entrants (High): Various new hospitality preferences are growing within the sector, where new entrants’ threat is high enlarging varied impact on Marriot. The threat of new entrants is high, bringing the wider impact of enlarged goals leading to specific enhancement rise.
The threat of substitutes (Medium): There is a medium threat of substitutes, which signifies that Marriot faces a medium threat from the growing competition in the hospitality sector. The competitive rivalry being strong widely enlarges commercial benefits and enhances the scope towards wider horizons. Marriot, being one of the top brands in the hospitality sector has been stringently operating in providing the best hospitality services profoundly.
Bargaining power of suppliers (Low): There is a low threat from the bargaining power of suppliers, which signifies Marriot has its strong market presence through its strong supply chain structure mechanisms (Tolstoy et. al. 2022). It also signifies a focus on fact, where the low threat from suppliers will enable business competencies to be more evolved fundamentally.
Bargaining power of customers (Low): The bargaining power of customers is low, which signifies that Marriot’s brand goodwill is strong due to the premium range of hospitality services diversely growing. It enlarges focus on the fact that the bargaining power of customers being low, further opens up a wider new competitive opportunity for new business domains expansion.
Therefore, external hospitality sector services being stringently varying further brings on new fundamental growth for Marriot (Leenheer et. al. 2022). It also adds a new primitive scope to enlarge rapid technical opportunities, and wider enhanced functional segments for evolved working synergies diversely.
Hospitality challenges must be worked on with new vision, competitive strategic technical surge for leading corporate change at Marriot. The new enhanced expertise has evolved, for specific competitive technical pace to be retained for delivering benchmarks. Marriot enlarges commercial horizons to be evolved, for strengthening innovation aspects to be led within longer time period.
VRIO model
The VRIO model further sheds core focus on internal dimensions impacting business horizons diversely, where it also brings on rapid commercial strengths to evolve technically. Marriot’s internal business horizons need to be primitively evolved, for catering towards wider horizons and successive growth diversely.
Value: The value factor of Marriot hotel is a key strength, which enlarges competitive focus on optimum new creative technical strengths (Jooss et. al. 2022). The value of being strength enhances positive development intricately with a significant optimum focus on brand goodwill. The hospitality standards services enhance value benchmarks productively which leads to a rapid technical competent focus on strengthened brand proactive strengths.
Rarity: The rarity factor primitively holds importance, where Marriot hospitality at hotels and resorts is widely rare due to premium engaged consumer customization. It enhances brand competencies, enlarges commercial growth, and goodwill within the sector. Also new expertise is evolving towards wider horizons expansion.
Imitability: The imitability factor is also a key strength, where Marriot services have to work towards gaining new engaged goals competitively, wider focus, and adherence to imitability towards new enlarged innovation (Arikan and Shenkar, 2022).
Organization: Marriot’s organizational factor is strong, where leadership and organizational strength are widely competitive to bring up primitive rise on wider horizons successively. There is innovation, creative advancement, and a larger pace towards new intricate pathways where organizational success has been achieved with wider technical abilities.
Figure 1: VRIO framework, 2022 (Source: VRIO framework, 2022)
Therefore, VRIO analysis has critically established key important benchmarks for specific engaged goals and to lead towards wider enhanced primitive aspects rapidly. Marriot’s resources are valuable and unique, with its structural expertise and specific new informed pace for leading specific advance growth.
The emergence of AI and IoT in the hospitality sector
As stated by Hutchings et. al. (2022), Artificial intelligence and the Internet of Things are two of the newest innovative aspects, which are widely growing within productive hospitality sector operations functionally. The new emergence of AI and IOT has various commercial competitive benefits, which enlarges specific rises on new horizons.
Marriot has a highly competitive scope, for wider new investments in AI implementation to lead towards wider profitability competencies. New investments into IoT and AI enhance the new imperative scope and wider larger innovation to be leveraged for a specific commercial pace. Marriot has a high commercial new pace, for enlarged new improvised horizons where AI and IoT further will add value and productive goodwill.
As opined by Friberg and Sanctuary (2022), states the critical importance of IoT emergence, has shaped new analytical strengths and wider improvised mechanisms technically to lead toward a higher vision in a longer period. It also adds vitality to financial standards growth, marketing, and supply chain management emergence technically for specific collective benchmarks profoundly.
There is also wider catering importance, towards enlarged new scale vision within a longer period and best goodwill. External hospitality sector practices are widely enhancing towards new enlarged scope, for specific new evolved consumer networks and specific new engaged consumer horizons. AI and IoT emergence substantially add to profound scale rise, for new analytical commercial horizons and wider revenue profits within the longer period.
Lewis changes management model
Change management holds huge commercial importance for businesses to enlarge up specific focus on fact, where businesses are heading to lead towards wider expanded innovation fundamentally. Marriot by heading towards new change management will be able to cater towards new competitive growth opportunities and enlarge up specific engagement.
Unfreezing: At the first stage of unfreezing, Marriot has been leading a wider focus on removing old technical changes functionally, by strengthening improvised horizons technically. The new changes and innovative vision will be primitively focused, to lead diverse functional improvement.
Freezing: The stage of freezing will be heading to establish new strategic technical goals for engaged competent horizons, by leading rapid technical new investments to collaborate rapidly. Through freezing, new innovative mechanisms and larger optimum strategic diversity among hospitality services can be improvised diversely (Flynn, 2022). New hospitality strategies will be framed at Marriot, for extended scope and to lead towards an advanced cultural framework with the best innovative vision.
Refreezing: The Last stage of refreezing will be adhering to attain feedback from various hospitality standards services which bring on rapid evolvement analysis diversely. Refreezing will enable monitoring of tasks; established structural goals analysis for new improvised brand competent horizons technically. The last stage of refreezing will enable competitive improvement, on wider horizons to be established for larger new diverse mechanisms for significant quality-oriented output.
Figure 2: Lewis change management model, 2022 (Source: Lewis change management model, 2022)
Therefore, Lewis’s change management model has been identified to be critically accurate for building wider scale growth in implementing new technical changes diversely (Top 10 Hospitality Industry Trends of 2022, 2022). Through new analysis of all change and improvised commercial horizons, Marriot will be integrally heading to establish the best creative changes technically.
The challenges of international hospitality management have to be productively worked on, for leading strategic growth diversely engage within longer time period. Marriot hotel aim to lead change management, by strategic capital investments and new enlightened vision integration for specific technical growth determinants.
Leadership theories
The leadership theories practically are highly crucial, for leading rapid new advanced business goals to enhance dynamically and determine improvised strategic vision to enlarge up wider subject-oriented growth. As analyzed by Cuypers et. al. (2022), leadership theories enhance hospitality organization goals, shape up analytical strengths, and diversely bring on technical strengths for subject progression. The role of leadership theories and new informed rise being witnessed within hospitality businesses enhances the scope to improvise new evolved parameters.
The role of strategic leadership will enable competitive horizons to be enhanced for specific cultural enhanced growth determinants catering to competent paradigms. Marriot enlarges hospitality aspects, to be diversely organized in proper systematic manner for competitive growth domains.
Contingency leadership: Contingency leadership has a strong impact on overall functioning and analytical imperative impacts on functioning among business horizons. Marriot within the hospitality sector has been catering to bring on strengthened new engaged goals, for larger diverse mechanisms technically. The contingency leadership adoption further enhances improvised business ideologies to be shaped rapidly for analytical benchmarks to be significantly personified. Through contingency leadership criteria, new leadership parameters are widely enhanced for strengthened collective outputs.
Transformational leadership: As opined by Chow and Schoenbaum (2022), transformational leadership strategy positively enhances motivation standards intricately, for specific new engaged goals for determining improvised horizons. Marriot hotel within the hospitality sector aims to technically evolve on new transformational parameters through cultivating rapid horizons for specific new evolved paradigms. The practical implementation of transformational leadership can be evaluated to be also positive for commercial criteria to enhance new parameters diversely (100 Hotel Trends You Need to Watch in 2022 & Beyond. 2022).
Therefore, contingency and transformation leadership enables business aspects to be creatively enhanced for strengthening vitality and improvised technical scope. Furthermore, heading towards best leadership standards enhances wider scale improvised horizons for enlarged goals connective towards new targets.
The financial influence of the factor
As stated by Cavusgil (2022), financial influence within the sector is critically essential for competitive performance metrics, within business horizons in hospitality business goals. Financial factors such as leverage, liquidity, firm size and firm age, higher managerial ownership, and block holder ownership are some of the major financial standards operating in a company.
The financial operations further enhance the scope to lead towards dynamic horizons, where the Hospitality business in the sector is widely evolving in new domains. It further dynamically enlarges specific adherence to new ideologies and commercial-specific horizons, to be evolved, for leading dynamic primitive criteria.
Financial profit and loss statements and review of best ratios review, enlarges commercial strengths to be reviewed for retaining best hospitality standards. The review and constant monitoring of financial aspects, bring on specific review for specific enhanced vision for enlarged commercial pace. Marriot aims to lead strengthened vision, with productive review of competitive financial standards and lead change in financial operations fundamentally.
Figure 3: Financial management, 2022 (Source: Objectives of Financial Management, 2022)
As opined by Achaleke (2022), financial KPI and performance indicators such as organization performance tracking instruments, the financial health of the company, and aspects including profitability, liquidity, solvency, efficiency, and valuation further bring keen important aspects. It can be also significantly evolved in that it enlarges specific focus on wider segments, for specific improvised vision goals dynamically.
Hospitality sector commercial paradigms and KPI financial-oriented decisions have to be engaged critically, by leading diverse mechanisms to enhance evolved critically. Furthermore, business aspects are dynamically personified with new enhanced technical revenue targets, to lead towards best finance operations rapidly growing.
The financial aspects have a critical imperative impact on business dimensions, where it enlarges specific adherence towards wider structural expertise. The hospitality business services within the sector are widely catering to bring on specific enhanced growth results, leading dynamic horizons to collaborate profoundly (THE TOP 4 HOSPITALITY INDUSTRY TRENDS IN 2022, 2022).
Marriot has been significantly strengthening its financial operations, by developing improvised horizons and leading diverse competitive improvement on wider evolved synergies. The financial decisions have to be pertained critically, by keeping improvised new priorities significantly adhered to within a longer time. Financial operations such as maintaining checks on liquidity, and operations specifically heading to bring on primitive enhanced benchmarks collaborate further leads on analytical market presence to be enhanced.
As opined by another author Verbeke (2022), some contradictory facts are there on which financial influence on business operations is critically uncertain and time taken, to be evaluated for leading determined benchmarks to enhance. It can be also stated that leading financial strengths, can be actively checked by leading diverse mechanisms that can be attained through financial parameters being checked keenly. Also management and leaders, within hospitality sector domains have critical imperative factors for enhanced business operative technical horizons to lead towards long-term paradigms.
Conclusion
International hospitality management plays an essential role in the hospitality business sector within the field, leading diverse commercial networks to expand dynamically in recent times. Recent business analysis done within the context of Marriot hotel has critically diversified the importance of external and internal business horizons where primitive benefits of best hospitality services can be witnessed. The recent study has concluded strategic business models such as Porter’s five forces, the Vrio model, and Lewis change management operations, and enhanced new scope to enlarge up commercial factors.
Research has significantly shed a core enlightened focus on new business horizons, where an enlarged focus on new commercial opportunities and diverse determined practices are there. The study has also summarized the importance of change management, leadership, and business enhancement opportunities for catering to new priorities. Furthermore, Marriot hotel has succeeded to lead towards competitive improvement for strategic commercial pace substantially. The study has also summarized the benefits of various financial facts and specific enhanced priorities, which leads businesses’ corporate avenues to be improvised over a longer period.
References
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