Through this report, the main purpose is to identify how as a CEO build strategy and how as a CEO it is important to understand the strengths of the company and also access the key condition under which the company can grow.The chosen company is Starwood and the strategic planning and further to access how the company can grow be consequent development and how to build the strategies in relation to the strategy at a business, functional, and corporate level. The prime purpose, of the strategic growth opportunities would help to access the impacts of competitive advantage and sustainability and build the mergers and acquisitions along with placing the international strategy and alliances.
The purpose of the assignment is to look in-depth about how the CEO appointed for the new firm. The main aim of the CEO who is appointed in the hospitality industry is to evaluate the likeliness of the expansion policy and what would be likeliness of the strategy to make the company emerging and evolving. From the assignment, the prime focus would be on the brief history of the organization along with having a strategic development and the role and purpose of thecompany interpretation of theinternal and external environments. It is important to understand how there can be consequent development and how to build the strategies in relation to the strategy at a business, functional, and corporate level. It is important to have a competitive advantage and sustainability and even have to focus on the impacts of mergers and acquisitions along with placing the international strategy and alliances. The chosen company is Starwood and the strategic planning would be around this company (Swammy, 2018).
Starwood Hotels and Resorts was initiated by Mr. Barry Sternlicht (Taherdoost, 2016)). The relation of the Starwood can also be luxury hotel chain and the fleet opens of the operates approximately 750 hotels and it is obligated in the Sheraton, Four Points, St. Regis, Westin, W brand that can be based on the luxury collection and it would include the innovation product and it would 80 countries that would context in terms of the continent.Element hotel is also the obligated green hotel chain newly launched that would start 2008. It is implicated as to how there would betraveler's eco-etiquette and their would-be travelers that can result in the element hotels and consider the green (Taherdoost, 2016).
Starwood Hotels & Worldwide, Inc is known as the leading company, which has progressively worked over the domestic and the global places and includes the vast hotel and leisure companies with more than 992 properties. The hotel industry has covered the vast 97 countries and 145,000 employees and so far, has managed with the quality and the managed properties (Starwood). Starwood Hotels is also known as the prime integrated owner, operator along with the franchisor of hotels and the vast resorts and residences (Weber, 2020). Starwood Hotels company has started its Starwood Vacation Ownership, Inc, and is known as the leading premier developers and operators that can work in context to the high-quality vacation interval and the different ownership resorts. Being the largest operators of upper-upscale and the resulting luxury hotels, it is essential to include the global portfolio that remains unmatched. The hotel Starwood remains on track and so far has remained with the origin to the increase in the worldwide footprint that can 20% which covers the next five years and it has been designed with the targeted growth which is likely to expand with thevast upper-upscale and luxury hotel categories. The hotel industry has categorically limited to the vital limited-service segment. And it includes the Luxury full-service hotels and even the vast Luxury and would include the upscale full-service hotel. It is necessary to have the select-service hotels and would cover the wide extended stay hotels. Subsequently, it is necessary to divide in accordance with the nine brands into four levels and it would cover the vast luxury full-service hotels, include the luxury along with the upscale full-service, and it would cover the select-service, extended stay. The relations in judging from the room quantity that can be placed with each brand and to include the two popular brands are Sheraton which can cover the 392 properties (Kocakulah, 2017)
In the internal environment of the organization, the employees, staffs, and the properties are the advantage. Internally the staff has to be fully equipped and it is essential to balance the working environment with the multiple dynamics The internal orientation is to retain on the valued added hired talents and make them part of the properties. It is also essential to focus on the retaining and streamlining of the things, which can help the organization to grow. The imbalances can be dependent on the shortage that can be due to the travel along with the tourism businesses. It is also depending on the shortage or surplus of specific occupations that would cover the chefs, pilots, etc.
Externally the problem of the shortage or surplus of job-related skills would like having the staff that is skilled with foreign languages, IT skills. The other is the shortage or surplus that can cover the specific soft skills and the main emphasis of the customer service or problem-solving. It is essential to cover the travel and tourism businesses that can cover therational approach. Humanresources have to be skilled enough to cover the workforce which has been increased and it is essential to cover the travel and tourism business. The major attributes are how there can be Travel and tourism council manages can also change with the issues on account of the country-wise Travel andtourism businesses The major context ishow the companies are adapting and the externalenvironment has also how there can be talentin regards to the human resource which can see in terms of the country-wise travel along with the tourism human resourceissue and can provide the corrective measures according to that (Kocakulah, 2017).
The external resources are also based on the green first major hotel brand pursue and it is necessary to have the U.S. Building Council’s LEED Certification with every property and it is necessary to bring on the depicting and it would include the environment in today’s world. Element is also how the company focused on theguest, who would have a no-compromise, eco-chic experience and it is necessary to bring out the easy way responsible that can cover the eco-friendly things which would be without sacrificing guest experience, and it would cover the element philosophy that can include the satisfy guest’s needs having the better engaging environment in mind. External the company has also aimed to become one of the environmentally friendly luxury brandsthat have covered the hospitality industry. It is essential to cover the wide recognition and attribute to the remarkable green initiatives, to cover the environmental concern. Green initiatives are also one of the factors for the company (Oleksiyenko, 2019).
The development of the strategy at a business, functional and the prorate level for the Starwood company; have to work in accordance with the bowl differences-:
Functional Level -
The hotel has strategically placed its travel list of destinations, mapped the customer’s orientation, and even aimed to grow with the potential growth. The company has started to scout out the domestic and the national resources that can help to bring in the uniqueness of the centering on the consumers including guests who stay with u. The company has thought to initiate with the blending of the localization of the resources with the best match abilities and integrating the customers with better choices and preferences. The company has even selected the green options and it has included the hotel brands’.
Business level -
At the business level, the company has bought all the essential resources, such as checking the international level security checks, the robust country requirements, and also integrated theglobal population requirement in the best-desired approaches. The company has also integrated with the best value resources and also integrated the global according to bring in a better standard of living. Such as if the company is targeting the localization, the resources required to collaborate, and bring in the better transitional better living that can pursue a quality of life. It is also necessary to bring in the reason and adapt inline to the many businesses habitually that can work for the better collaboration inline to the fulfilled ‘unlimited’ needs and wants of the consumer. At the business level, the company also has to examine the consequence of the commonly neglected. Overusing resources can even bring in the negative impacts and there can be more trajectories inline to global warming, pollution and can include climate change. The company also has to include the ‘disaster risk would include thepresence of a physical hazard (Quelch, 2017).
Corporate level -
Points of parity (POPs)
The company has a strategy integrate with the corporate level and includes the possibility of the distinguishing resources that canfocus on the brand uniqueness in comparison to the other brands. The company also has to evaluate that there can be potential competitors claimed benefits and it is essential to have the parities of differences that can create differences inline to the brands. The company has the aim to bring in the differentiated strategy which can differentiate the competition by matching them on the POP. Starwood has to work over thepoints of parity, such as the different levels of pricing: including the luxury, upscale, elected, and extend stay (Riemenschneider, 2017). The company has to bring a distinguishing match with the division according to the room prices. Luxury hotels have to bring out a betterelegant atmosphere and traditional service that would work with differences in the social position. For upscale hotels, that company also has to bring in collaboration with the business persons that can include frequent business trips.
Comparing with the other hotels, it is necessary to bring a difference, in the brand, in the perception, and how it has been evaluated. Such as if it is a positive brand, the main purpose is to bring in the attributes or benefits which would help to bring in the distinguish parameters and also the cause of the consumers strongly representation to the brand, and how to streamline in believe and it is necessary to bring in the competitive brand edge. It is also essential to have the point of distinguish that can help to determine thecompetitive brand. Essentially it is also important to have the point of the clarity and even the better distinguishingsuperiority or exclusiveness over other products in the category (Pucciarelli, 2016). Consumers' that can perceive the brand uniqueness and also the key growth of development. The company to segregate with the competitive edge also has to bring out a better resolution that can address theperceived uniqueness and aim for the brand associations. The competitive advantage can also bring on the better-skilled difference and it is necessary to bring in the performance attributes The Company also has to bring in the point of differences over the “overall superior quality”, and it is necessary to bring out the best “low-cost provider” of a product or service. The company can bring in the decoration and atmosphere which is unique and should be better equipped with the other hotels (Quelch, 2017).
Starwood Acquisition was done by the hotels Marriott on November 16, 2015, Marriott International. The company has expanded to acquire Starwood Hotels & Resorts Worldwide (Igielski, 2017).
International strategy and alliances -
The international stray and the alliances are to emerge with the better goal-oriented. The company has to bring out theupscale on the full-service category such as intruding the Conference Centers, which would help to grow and expand with the company’s conferences along with the events. The company also has to think about how their segmentationaims, which can keep the company to think about how to bring in theuniqueness of their projects. The company also aims to bring in the superiority or exclusiveness. The other intentional strategy is a timeshare. And the Starwood has the three brands for the timeshare ownership to every brand having the unique has specific target guests.
The other international strategy is targeting specific zones and aligning the resources in line with the given orientation and even aims to bring in better command. The international strategy is also to focus on the specific countries and the hiring as per the need and the requirements (Hagen, 2016).
The company has to aim to bring in the performance businesses actively and has to focus on the talent to bring in the right talent people which can aim to deliver with the right mindset and have the correct right jobs and aim to hire inline to the specific skills. Due to this, the companies would get rewarded inline with theactive engaged, productive, and creative workforces (Chandra 2016).
The leadership importance would be to focus on the hiring of the employees and blend them in accordance to the recruitment to training and subsequently aim to retain theemployees, The Companyalso aims to bring in the better-desired leadership qualities and brings in the unique set of the entire talent development chain. The company can bring in the leadership instinct that can integrate the managers use a quantitative, predictive model and further can bring in the assessment of candidates’ job skills which can be attributed to the evaluation of their attitudes and further bring in the values-attributes that can help the leaders to outgrow (Oleksiyenko, 2017). The company also should aim to bring in the entrepreneurship models of the better motivational theories and the perks methods.
The leaders should be robust, dynamic, and should change their styles in relation to the company benefits and compensation packages (Lele, 2017). The main target is to bring in the employee'shousekeepers-largely women with families which can bring in the uniqueness of the training and the essential progress. The training, career opportunities have to be integrated with the large part.
The organizational structure also has to be of theformation of the culture with the four dynamics which are the ownership, organization structure, including the technology, critical business incidents along with the environment. The four cultures also have to bring in the Power', 'Role', 'Task', and 'People'. Further, the purpose is to bring in the predominant culture and work over the real needs and constraints that can work inline with the organization.
The organization structure is flat and even has the firm structure and own properties TheCompany has also bought in the formal and informal communication channels and can further integrate to share best practices.
This department in business would also work inline with a comfortable relationship with their managers and can work to motivate their jobs. It would be the involvement of preparing the staff that can bring in the professional abilities that can take more jobs. The staff needs to add on the variety of responsibilities, and for this training is required with the main aim to bring in the development project.
To conclude, the company has strategically plan to integrate the strong culture, which brings inline to the fair treatment and advancement opportunities, which can help the company to grow. The company has the orientation to the line of hospitality and how the customs would orient towards one main objective. The company also has to bring in the essential reigns supreme. The main important step for the organization's key culture is to bring in the key competencies and also aims for the competitive edge to match with the consumer expectations. The organizational culture is to bring in how there can be flat structures.
Amankwah-Amoah, J., and Osabutey, E.L., 2020. New challenges and opportunities in the global marketplace: learning from developed-country multinationals’ failures. International Studies of Management & Organization, 50(1), pp.43-56.
Chandra, P., and Pal, J., 2019, May. Rumors and Collective Sensemaking: Managing Ambiguity in an Informal Marketplace. In Proceedings of the 2019 CHI Conference on Human Factors in Computing Systems (pp. 1-12).
Hagen, J., 2016. MBA8330-S55.Managing Global Marketplace.Sp16. Hagen, James.
Herades, S., 2020. Colonial New Zealand literature in the global marketplace: Then and now. Journal of Postcolonial Writing, 56(2), pp.157-172.
Igielski, M., 2017.Assumptions to the model of managing knowledge workers in modern organizations. Management, 21(1), pp.133-147.
Kocakulah, M.C., Foroughi, A., Stott, A., and Manyoky, L., 2017. Activity-Based Costing: Helping Small and Medium-Sized Firms Achieve a Competitive Edge in the Global Marketplace. J Account Mark, 6(245), p.2.
Lele, U.J. ed., 2017. Managing a Global Resource: Challenges of forest conservation and development.Routledge.
Megits, N., 2016. MBA8330-S85.Managing Global Marketplace. Su16. Megits, Nikolay.
Oleksiyenko, A.V., 2019. Academic collaborations in the global marketplace.Springer.
Pucciarelli, F. and Kaplan, A., 2016. Competition and strategy in higher education: Managing complexity and uncertainty. Business Horizons, 59(3), pp.311-320.
Quelch, J.A., 2017. Global marketing management: a casebook.
Riemenschneider, C.K. and Armstrong, D.J., 2016, January.Introduction to the Minitrack on Human Capital and Technology in a Global Marketplace.In 2016 49th Hawaii International Conference on System Sciences (HICSS) (pp. 4717-4718).IEEE.
Roscher, K., 2018. The International Folk Art Market: Cultural Commodification in the Global Marketplace.
Spais, G., Beheshti, H. and Rana, S., 2019. Special Issue on Customer Needs and Demand Management in the Global Marketplace: Emerging Management and Marketing Practices.
Swammy, S., Thompson, R. and Loh, M., 2018.Managing the Crypto Marketplace. In Crypto Uncovered (pp. 61-83). Palgrave Macmillan, Cham.
Taherdoost, H. and Keshavarzsaleh, A., 2016. Critical Factors that Lead to Projects’ Success/Failure in Global Marketplace. Procedia Technology, 22, pp.1066-1075.
Todorovic, M., Simic, M. and Kumar, A., 2017.Managing transition to electrical and autonomous vehicles. Procedia computer science, 112, pp.2335-2344.
Weber, D., eBay Inc, 2020. Managing products at a physical marketplace.U.S. Patent 10,643,269.
Proofreading and Editing$9.00Per Page
Consultation with Expert$35.00Per Hour
Live Session 1-on-1$40.00Per 30 min.
Doing your Assignment with our resources is simple, take Expert assistance to ensure HD Grades. Here you Go....