Hilton worldwide strategic plan

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Business Finance

Strategic management and business policy

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SWOT ATTACHED

Hilton Worldwide is the company chosen

Prior to completing this assignment, review your prior research and course submissions related to the company you selected for research in Week 2’s Environmental Scanning interactive assignment. Ensure that you have incorporated the feedback you received from your previous submissions. In your Final Project this week, you will pull the various elements you’ve created together to aid your creation of a Strategic Plan. From the perspective of an executive with the firm, your supervisor has tasked you with creating a strategic plan to grow the business over the next three years using this Strategic Plan Template. Continue to access the Mergent Ashford University Library online database which offers company financials, descriptions, history, property, subsidiaries, officers, and directors and the Business Insights database. (View the Mergent tipsheet and Business Insights tipsheet Tips document for suggested methods of searching Ashford University Library databases generally as well as specific advice for searching these two databases).

Your strategic plan must be future-oriented and must

  • Describe the company, the company’s history and its 4Ps (Product, Price, Place, and Promotion).
  • Examine the company’s mission statement and assess its impact on the organization’s activities.
  • Explain the current situation of the organization in the market (industry, market, and general environment analysis).
  • Add your SWOT analysis (strengths, weaknesses, opportunities, and threats) of your chosen company here. Evaluate areas that offer opportunities for
    • Choose three or four areas from your SWOT analysis and assess why the areas you have chosen are essential to your strategic plan
  • Summarize the results of your Environmental Scan and Porter’s 5 Forces.
    • Evaluate the degree to which they aid in conceptualizing the company’s competitive position in its marketplace.
  • Assess the company’s international performance in light of Cultural Barriers, Monetary Exchange Rates, and Political Instability.
  • Assess the financial performance and condition of the
  • Operational budget: Research and assess the company’s operational budget.
  • Assess the performance in terms of key performance indicators.
  • In your analysis, be sure to include profitability ratios relevant to your analysis.
    • Debt to Equity ratio
    • Debt to Assets ratio
  • Based on the data, evaluate the overall current financial condition of the company.
    • Support your analysis by referring to the company data
    • Create a three year end trend analysis
  • Assess how your Operational Budget analysis affects your three-year strategic plan.
  • Recommend an organizational structure in terms of the organizational design as defined in Abraham (2012) section 2.6.
  • Assess the impact of the strategic plan on the organizational culture.
  • Strategic Goals: Create measurable core strategic goals for each of the three to four areas addressed from the SWOT analysis, addressing any contingencies associated with the strategies you are recommending and prioritizing them according to ease of achievement and time to completion.
  • Recommend marketing positions and opportunities for growth in your strategic plan
  • Add specific language to the strategic plan that addresses the company’s Corporate Social Responsibility
  • Explain your plan to measure the success of your strategic
  • Submit the Strategic Plan to the instructor.

The Final Paper

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SWOT ANALYSIS SWOT Analysis of Hilton Hotel Zelia Stewart BUS 402 Instructor: Bill Davis 01/28/2018 SWOT Analysis of Hilton Hotel SWOT ANALYSIS The prestigious hotel selected for the SWOT analysis is the famous hotel chain, Hilton Hotels. Primarily, a SWOT analysis is an internal and external screening of the environment of a company so this paper will reveal the strengths and weaknesses of the Hilton Hotels that are related to the internal environment. Secondly, the external environment of the firm is also screened to find out the opportunities for the growth and the business threats to this extension for the recent increase in sales in the last five years. Hilton Hotel branch in a metropolitan area that was on a very positive change as the number of check-ins has been increased by 50%. Hence, the main reason for this increase that can be noted down is the opening of a new residential and corporate complex near the hotel. Also, the number of new residents has been increased but to find the reasons genuinely, the SWOT analysis will be the tool that will tell the actual situation at the moment of the Hilton Hotel as an overall and this branch in this area specifically. Considering the Hilton's overall performance, it is necessary to realize that where this business has strengths and where the weaknesses found concerning availing the opportunities present in the market. Additionally, of how efficiently and effectively they are utilized to gain a competitive advantage over the competitors of the hotel industry of that area or region in the last five years with an increase in the sales. The extracts of the SWOT analysis helps the business decision makers of the company to make short and long-term strategies by bridging up the strengths with the opportunities and mitigating the impact of the threats the company is facing in the next 5-year strategic plan . It is noteworthy that the SWOT analysis of Hilton Hotel can associated with the overall industry SWOT analysis of the hoteling business. (Ivorschi. 2012) Internal origin (attributes of the system) SWOT ANALYSIS Helpful Harmful to achieving the objective to achieving the objective Strengths Weaknesses 1. Hilton Hotel is the market leader 1. Hilton has decided very late to in the industry in this region come out of its shell to develop its precisely because the only business beyond borders on competitor that is present in the strategic locations, and thus it cost area is Marriot which is a more the company to miss countless significant brand name than opportunities which its Hilton but fortunately, the competitors enjoyed long ago. location where the Hilton is Hilton managers must plan the present is a prime location. reach the customers that are using Therefore, Hilton considered to other hotels due to minor be the leader in this area differences in the prices by precisely and should use offering them cheaper rates to aggressive strategies to attract maximize the revenue. customers with promotional 2. Once the company has decided to activities. operate abroad, it was the time 2. The set of products and services when the real estate industry was are designed in a very at the boom, and the prices were competitive manner which has touching the skies, so Hilton had been planned according to the to pay more than its competitors needs of the customers visiting did. The branch under discussion the area and yet again Hilton has the same kind of weakness wins the race in offering the best previously faced due to buying the products and services of the property near the beach cost the town. Hilton Hotel should use company a lot which took time to these services to make businesspayback this decision. to-business deals by taking advantage of the corporate complex nearby. 3. The customized services according to the needs and wants of the customers that have made as permanent accounts through loyalty programs. Therefore, this is the program allows Hilton Hotel to match up the best deals and services to their loyalty members and their tastes, preferences, and cultures are examined, and the products and services are personalized. In recent years, Hilton has made most of its revenues from this SWOT ANALYSIS External origin (attributes of the environment) strength and the business managers are focusing on this strategy for the future growth. Hilton managers must offer several sets of services after categorizing the loyalty customers in different groups; this will best use this strength in the next five year strategic business plan. Opportunities Threats 1. Hilton Hotel is the name of 1. Increasing trend of loyalty and luxury and glamour which has customization has increased the threat been the choice of most of the to fulfill every customer's leisure and business visitors so requirements and sometimes it is offering the customers a great difficult to say a NO to the customer experience of most exceptional but also to arrange that product or quality. Besides, the hospitality service. is an evergreen opportunity for 2. Due to several threats to the Hilton. Thus Hilton management international peace and the worsening must go for the regional situation of the health-related issues, traditional and cultural activities like swine flu, Congo virus, and to contact the local organizations nowadays Zika Virus, people are working for these tasks to offer becoming reluctant to travel. the promotional rates to Moreover, the governments are also maximize the sales. advising their citizens to avoid the 2. Hilton is offering the customized international traveling which has products and services to the impacted the hotel industry badly and customers who plan their tours may affect more in the coming years. accordingly, so the visitors to the beach area are also attracted so from this point onwards, Hilton must use the advertising tools and techniques to market the Hilton brand on the seashore to attract the customers. 3. Information technology has added much to the overall business growth of the hotel in recent years, so it is the most significant tool of attracting customers, for example, allowing the customers to preview their rooms and services in a real-time 3D mode before they book the rooms. SWOT ANALYSIS Recommendations and Strategic Plans Focus group of any company helps to test and give feedback about any product or service which is yet too launched or under any business challenges to know the details of decreasing sales or design of the product or service. In the following focus group of Hilton, Hotel Corp., the purpose of creating this team is to test a new service to launched for the university students who plan their educational tour. The Hilton management designed a questionnaire to know the details of the expectations of the students that any educational trip would need to enjoy while on tour and staying in the hotel. The focus group created for Hilton Hotel products and services consisted 30 participants, all are university students with 18 male and 9 female students and three of the male professors. (Bret & Stroh 2015) Following are the questions which can be asked form the focus group members to get their feedback: 1. How frequently you go out of the station to a professional/academic/personal visit and stay in a hotel? 2. What are the services you miss out most of the times offered by the hotels? 3. What is the best product or services do you like the most of any hotel you experienced to stay? 4. How do you rate Hilton hotel among the other competitors? 5. What services do you want in an ideal situation if it would be their hotel to satisfy the needs of an educational tour staying in your hotel? Once the questions have asked of all the participants, then the answers are analyzed systematically to mark the most common responses. Secondly, all the feedback is noted down SWOT ANALYSIS given by the participants and then the most feasible but innovative ideas which were missed by the business managers are highlighted by the decision makers of Hilton Hotel Corp. The resultant analysis of this focus group has brought out the facts which helped a lot to redesign the service pack planned for the students and their faculty members coming on an educational tour to the nearby area of Hilton Hotel but staying in Hilton. The participants' feedback suggests that their expectation level nearly the same which the Hilton managers are going to propose in their services. The participants’ feedback suggests that their expectation level nearly the same which the Hilton managers are going to propose in their services but there were mentionable contributions by the students which helped to improve the expected level of services and several small components were added which a focus group of students can explain due to their current status of studentship (Bojlen & Lunde 2015). SWOT ANALYSIS References Bret, J.M. and Stroh, L.K. (2015), “Willingness to relocate internationally”, Human Resources Management, Vol. 34, pp. 405-24 Bojlen, N.S. and Lunde, I.M. (2015), “Focus group interview as a qualitative research method”, Ugeskr Laeger, Vol. 157 No. 23, pp. 3315-8 Hilton Hotel Corporation (2016), Official Website, available at http://hiltonworldwide.com/ Ivorschi, Rodica (2012), Swot Analysis-Management Techniques to Streamline Public Business Management available at http://web.b.ebscohost.com.
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