GROWTH STRATEGIES DECISION MAKING PROCESS IN LARGE HOTEL CHAINS Dissertation

GROWTH STRATEGIES DECISION MAKING PROCESS IN LARGE HOTEL CHAINS - Dissertation Example 21 Role of the Researcher 22 Data Analysis Technique 22 Reliability and Validity 23 Ethical Considerations 23 Findings and Analysis 25 Findings from the Interview 26 Discussion 34 Conclusion and Recommendations 37 Key Findings of the Study 37 Revisiting Aims and Objectives 38 Recommendations for Action 38 Recommendations for Further Study 40 References 41 Appendix- I 46 Abstract Hotel industry is one of the largest industries in the world that has progressed rapidly. Globalization has fueled this growth process as large hotel chains seek new venues to extend their business. Expanding overseas is not easy and a number of factors such as the entry mode, situation of the market, position of the market and economic and political situation of the host country have to be considered. The expansion involves a series of decisions; after the decisions have been taken, a strategy to implement them is then chalked out. Eastern European countries particularly Ukraine has caught the attention of m any multinational organizations and chains of hotels. The promising potential of the area has brought two major chains of hotels the Intercontinental and Fairmont to the capital city of Kiev. Both hotels have adopted different growth strategies although they target the same clients. The decision making processes in both hotels are different as well as in one hotel the General Manager is at a liberty to take most decisions while in the other decision making is done by the owners. This study by interviewing general managers at both hotels identified differences and similarities in decision making process at both hotels and make recommendations accordingly. Introduction Globalization has brought about significant changes in the world of business and has opened new avenues for investments; however one should understand importance of a well-planned project. In order to ensure project’s survivability, the whole process of decision-making must be supervised and overseen (Armesh, n.d .). It is crucially important that proper actions should be taken at the right stages of decision-making process and proper teams should be assigned to carry out the decisions (Armesh, n.d.) Only when the decisions are made after adequate research, the plans could be successful as highlighted by Walter (2010, p. 4) â€Å"the more information the â€Å"decision makers† have, the better will be the decision†. Walter (2010) explained that decision making requires balancing multiple objectives and there is an element of uncertainty in decisions where only the clarity of goals can tell the decision maker the best alternative therefore it is always good to have information because only then decision makers will be able to make informed decisions. Importance of making good decisions increases even further when the decision involves selection and implementation of growth strategies because then the stakes and risks are also high (Armesh, n.d.). Growth requires heavy investment and if things go wrong the business has to face heavy losses. Today, big hotel chains confront greater needs to invest more and more resources in decision-making process. In globalized and yet distinguished markets, large hotels must take all factors into account and consider the best growth decision; thus, ensuring success of the projects and return on their investment. This research study focuses on identifying and understanding elements involved in decision-makin

Benefits & Compensations Task 2 Essay Example | Topics and Well Written Essays - 1000 words

Benefits & Compensations Task 2 - Essay Example The standard pay for a software developers, programmer and engineers is $71k per annum. In order to be on the safe side and retain the employees the company should give a compensation of $ 71 K per annum to the software experts. Te sales representative should have a fixed salary of $ 51 K per annum. In the company the lowest earning employee should earn at least $ 29 K per annum. The lowest paid employee should be the administrative manager in charge of company’s records and processing of orders placed by the customers. The marketing specialist should pocket at least $ 51 k per annum. For motivation purposes, the sales representative should be given commission of the sales they make in addition of the total salary they take home. In addition to the salary, workers should be given a part time bonus in order to motivate workers to work more hours. The bonuses should be range from $ 200 to $ 400 per hour depending on the profession. The bonuses will serve as a motivation factor i n which employees will be ready to work even old hours of the day. Some companies do not provide part time bonuses and if YLSS gives out the bonuses the employees will not be willing to leave the organization. Each employee in the company should also enjoy other benefits like health insurance, PTO and life insurance. The company should pay the insurance for the employee (PayScale, 2015). The pay-policy is aimed at making sure that the employees are satisfied and remain focused to YLSS. The benefits and salary given to the employee will enable the workers to be motivated and provide services for many years. The insurance cover will serve as a security to make sure that employees can be treated when they get sick and return back to work. The salary proposed is the highest in the market and employees will not be tempted to find job in other companies. YLSS should have more benefits than the competitors as listed in the recommendation above in