would purchase 18 different brands of hotels the most notable include:, Renaissance, Bulgari, the Ritz-Carlton, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites and Fairfield Inn. This is important, because it would allow the company to be able to increase what they were offering to consumers and become a dominate player in a number of markets around the world. ("JW Marriot Jr.," 2011) as this was a part of their larger strategy to improve earnings growth by owning properties catering to wide variety of travelers with different needs such as: budget, long-term stay and the affluent. This would give Marriot the ability to cross market different promotions and offer a number of unique services to these individuals. At which point, the company began to quickly redefine its business model.
There was also an emphasis on managing various times shares and vacation resort properties. The idea was that these properties could be constructed or acquired in: key locations and then the underlying profits could be maximized through a time share system. The way that this worked is the different condominium style resorts were constructed at key destinations such as Hawaii or Disney World. They would then rent the time out on these different types of condominium style apartments to investors / travelers. These individuals could use the time that they purchased to stay in the property or they could lease it to others who would like to stay at the location. This was an innovative idea, because the amount of money that the company was making off of this kind of arrangement was higher in comparison with managing an actual hotel. As they could focus on: managing the property and concentrate on providing superior services to their guests. Once this took place it meant that the company would be able to redefine itself, as it would shift from owning hotels to becoming a large property management organization. ("JW Marriot Jr.," 2011)
What this shows, is that the flexibility that Marriot Jr. demonstrated during his career, as this would help to guide the company. This is because, he learned that they must be able to continually adapt to the different challenges that they are facing. As a result, this basic principal must be embraced by hotel managers, due to the fact that the industry is continually changing. Given the fact demand is just starting to recover from the recent economic recession, means that this basic idea must become a part of all managers thinking in the future. If this can take place, it will help to prepare an organization for the challenges that they will constantly encounter (from numerous changes occurring in the industry).
At the same time, Marriot Jr. has made a commitment to using his leadership skills in other activities outside of the business world. Where, he works with a number of different nonprofit organizations to include: the Boy Scouts of America, the Business Council, Business Roundtable, the Conference Board, the Mayo Foundation, the National Geographic Society, the Urban League, the U.S. Chamber of Commerce and the Woodrow Wilson Institute for Scholars. What this shows is that Marriot is exercising his leadership beyond business to have an impact upon the world around us. Where, he is leading by example as he is actively involved in many of these organizations. This is important, because it shows how all leaders must be able to create a sense of loyalty and following. The only way that this can be accomplished is through engaging in actions that will instill these basic principals in everyone. ("JW Marriot Jr.," 2011)
How the various Experiences would Shape What Kind of a Leader JW Marriot Jr. became
The different experiences in life would shape what kind of leader JW Marriot Jr. would become later on. Like what was mentioned earlier, he would receive a tremendous amount of business experience working with the company at a young age. Part of the reason for this, is because his father was running his chain of restaurants when he was born. As a result, Marriot's curiosity would push to learn as much as he could about the business at an early age. This included him working directly with the Hott Shoppes to the catering business. After he finished college, he could use the experience that he gained at an early age to have a greater understanding of the business. This helped him, to be able to see changes that were coming in the economy early enough to take advantage of them. At which point,...
Business Plan: Bridal Salon Business Products and services Keys to Success Company description Vision Statement Mission Statement Company background Products and Industry Product Description Industry Description The Market Market and Target Customer Market Segmentation Target Market Strategy Competition and Competitive Advantage Curbing Local Competition Curbing Regional Competition Marketing Strategy Overall Strategy Sales Plan Competitive Plan Research and Development (Growth Plan) The Organization Legal and Organization Structure Key Personnel Related Service Providers Location The Financials Critical Risks Income Statement Cash Flow Projection Balance Sheet Assumptions References Executive Summary Introduction Pace-setter is a bridal salon that rides on the theme of 'experience'. It creates an environment in which
Business Description Definition of the Market Description of the Products Organization and Management Descriptions Marketing Strategies Financial Management This paper presents business plan for a new leather garment manufacturing and retailing business. The business is being set up with an initial capital outlay of $53 million. The paper starts with a brief description of the business; its target market and product offerings, and then proceeds by proposing organizational and management strategies, marketing strategies, and financial management
Business Plan GBSGreen Building Solutions Company Description Product & Service Description Marketing Strategy & Plan Environmental Analysis (SWOT/PEST) Competitive Analysis Products and Services Pricing Promotion People Financial Analysis & Projections Profit and Loss Risks and Assumptions GBSGreen Building Solutions Business Plan According to the Environmental Protection Agency (EPA) the impact of commercial buildings on the physical and social environment are such that there is "not questioning the vast impact…" (Environmental Protection Agency, 2006) Commercial Buildings are reported by the U.S. Department of Energy's Energy Information Administration
[2: www.med.govt.nz/business/business.../structure-and-dynamics-2011.... ] The primary research of the Auckland market presents the following sectors for consideration for the new venture: The demographics in the target market include: college going and married women with children who either are working mothers or stay-at-home mothers; this makes the age group anywhere between 25 to 55; the overall annual income of the household is more than AUS $100,000; the property owned by the target individual
Business Plan of Searchyyy.com a Meta search engine Market Opportunity & Solutions Business Model and Strategy Search engine according to countries and languages Advertisement Revolution Social Networking and Blogging Sites Revenue Opportunities Sales and marketing plan Technology overview Technology implementation Intellectual property Competition Financials Current ratio ROE Debt to equity ratio (D/E) Management Organization and Ownership Organizational Structure Risks and mitigation Searchyyy.com, Inc. is Meta search engine which intends to provide a multi-category search engine to its users at a faster pace. The growing technology has evolved our lives. Users
As part of the research triangle, Raleigh has a significant portion of its population that fits the target market. For the Farmery to succeed, it only needs to capture a small portion of the market share. This is especially true because the store has a small footprint, and has the flexibility to set up on vacant lots without the costs of either renting or developing fixed real estate. The
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now