STRATEGIC MANAGEMENT

Strategic Management

Executive Summary

In this study we have explored the strategic management of Marriott hotel in a holistic context. The main focus of the study was on the strategic management of Marriott and its relation with the external and internal environment. The study has also analyzed many aspects of strategic management being performed in Marriott and we have tried to gauge its effect on the Marriott as a whole. The major findings indicated that the strategic planning and management in Marriot are performed in a good way but there are some flaws that need to be considered with the passage of time. These recommendations are from the marketing perspective that is needed to be considered by the Marriott's management. Finally the report has concluded with the over all findings of the study in a summarized manner.

Table of Contents

Background of Marriott5

Strategic Overview of Mission, Vision and Values5

Vision5

Mission6

Core Values7

Background To Strategic Management8

Analysis of Current Position10

Organizational Culture at Marriott Inc10

Five Force Analyses11

Bargaining Power of Buyers11

Bargaining Power of Suppliers12

Threats of New Entrants12

Threats of Substitutes12

Rivalry Among Competitors13

SWOT Analysis13

Reasons For Using SWOT14

Strengths14

Weaknesses15

Opportunities16

Threats17

Marriot's Financials18

Ratio Analysis18

Strategy Evaluation21

Priority Issues22

Strategy Formation22

Alternative #1: Fine-Tuning Its Existing Strategy in Key Areas23

Strategy Implementation24

Fine-Tuning living scheme in Key localities24

Fine-Tuning Existing Strategy in Key Areas - Selective Growth Expansion25

Marketing Perspective of the Hotel25

Conclusion26

References27

Strategic Management: Marriott

Background of Marriott

Marriott was founded by Willard Marriott in 1927. He expanded the businesses to a chain of restaurants and hotels. Today, Marriott International has approximately 3150 property Houses located in the United States and 67 other countries and territories. Marriott International was founded in 1992, when the Corporation Marriott split into two companies; Marriott International and Marriott Corporation (Wheelen & Hunger 2010, pp. 149). The management of the Marriott believes that marketing is not just creative play at work, it is a social science that requires as much research as it does creative tinkering. As depicted from the innovative marketing strategies of Marriott that marketing should always follow the strategy, and strategy born out of understanding derived from research. Market research is essentially a study of human belief and behaviour as per the attitude of Marriott.

Strategic Overview of Mission, Vision and Values

Vision

As far as the vision statement of the Marriott is concerned, it is in perfect compliance with the strategic management literature. It was said before is equal to future strategy. No future thinking, without foresight, it is almost unthinkable to talk about strategy, this aims explicitly "expand the horizon of business opportunities". In this sense, the vision statement is the third major milestone in the strategic thinking, is a representation of what we think the future should be for our company in the eyes of our customers, employees, suppliers, etc. (Lynch 2006, pp. 49) refers to the shared vision as one of the" core subjects "of learning organizations.

How to be a well-formulated vision statement?

Easy to grasp and remember.

Inspiring, posing challenges to achieving.

Credible and consistent with the strategic values and mission.

Clear about what should become the company.

All the above characteristics of a good vision statement can be seen in the vision ...