QSPM
SO/WO
ST/WT
Strategic Alternatives
Weight
Rating
Score
Rating
Score
Market Share
0.11
3
0.33
3
0.42
Price
0.16
4
0.56
3
0.48
Financial Position
0.16
4
0.56
4
0.11
Product Quality
0.14
4
0.56
3
0.42
Consumer Loyalty
0.11
3
0.33
3
0.33
Brand and image
0.13
2
0.26
3
0.39
People Management
0.03
4
0.12
4
0.12
Global Expansion
0.05
3
0.15
4
0.20
Technology Advancement
0.08
4
0.32
4
0.32
Market Communication
0.07
2
0.14
4
0.28
Advertising and Promotion
0.12
4
0.36
3
0.11
Total
0.15
0.35
0.28
Marriott will be in ample business growth and effective competitive stature and continues to concentrate more on its core business goals and vision and with presence of excess resource, there can use such integration in keeping stable. Marriott need to evaluate strategic approach to the market and identify why several market based strategy is not effective and will adopt grand strategy options accordingly. The implementation of strategic base of Marriott of intensified focus and objectivity upon conveying a lot of information about marketing plan in simple ways, upon application to real life due to limited factors and some complications in the business world. In addition, Marriott’s relationship between market share and profitability differ in the industry Marriott operates and that QSPM tenets were concerned on strategic management issues and value recognition.
(i) Recommendation
The crucial elements have to account for pace and flexibility of Marriott International’s overall team and synergy base, HRM management needs strengthening of job roles and performance to maintain Marriott’s award winning relations with the employees worldwide. For practically driven hotel industry and its strategic business environment, no single company is powerful enough to define market expansion alone but, there should be ample planning and support to stay longer in the business and if possible a lifetime service to people, to the customers believing in Marriott International’s mission and vision. Thus, without strategic endeavour and Marriott’s collaboration, growth expansion strategies will fall short of its desired objectives and purpose like undeniable entry barriers, restricted expansion laws that government makes into the hotel industry and its operational access and foreign investments consideration. Therefore, Marriott International had to collaborate with the industry guidelines in order to expand markets in other areas in Hong Kong wherein some tacit knowledge to the real financial highlights of the company will be a factor for Marriott International’s growth expansion in many countries. Since, Marriott International has been in the global scenario of strategic business, with access to the hotel industry market, effective planning and execution is imperatively needed for Marriott International to continue leading in the coming years. In addition, Marriott Internationalneed to scale its operations to be better prepared for future competition. In comparison with other players, in step with industry demand and adjust to actual industry cycles. Competitors may achieve some streamlining and focus by reduction as dramatic downsizing can do more harm than good. There is a need to focus more on local area expansion before it can go ahead with a much more fulfilling consideration to adhere global expansion, as growth strategies in an instance are for the approval and deliberation of Marriott International board of executives.
Conclusion
Therefore, strategic standing and Marriott International’s business strategy competence has been keeping the company on top of its business leadership, and management as well as innovative culture adaptation wherein Marriott team exercise the value of customer services and satisfaction through exclusive promotions and privileges given to loyal customers and high performing employees. There is about Marriott’s way of putting strategic drivers be on the right fit for change and that there can be concerns leading to Marriott’s decision to expand their markets and have a better outsourcing base for Marriott’s unique products and services for hotel operations, being considered to be one of Marriott’s key strategic value and competence factor. The external and internal environment of Marriott serves was ideally a real means of the company’s recent standing in the market particularly, the Hong Kong Market. The growth expansion strategy is a positive and effective option for Marriott International in the coming three years wherein reassessment and reinvention of business strategies and functions matters the most. Marriott International perceived as one of the leading hotel services as of the present time, leading to a long term partnerships with stakeholders and work based collaboration among Marriott executives, heads and employees, the growth of Marriott International for expansion purposes will cling to the volume of better customer service that produces satisfaction and trust among Marriott customers, loyal customers having happy faces.
References
David F (2009) Strategic Management: Concepts and Cases, 12th edition, Pearson Prentice Hall, pages 270-282.
Kosonen M (2004) Driving for excellence in performance – the role of the controller, Paper presented at the Business. Controller workshop, IIR Finland Oy, Helsinki, 27 September
Marriott International Annual Report, 2008, 2009
MSN Money Report (2010) Marriott International Inc. (7/9/2010)
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