Concept Map

User Generated

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Business Finance

York University

Description

The concept map provides the student an organised way to show conceptual understanding of business development, sales, and services marketing by organising personal knowledge and strengthening connections between concepts.

Instructions:

This assessment requires you to produce a concept map that focuses on implementing a digital sales or business development tool for the business used in assessment 2.

Your concept map should indicate, where appropriate, how different departments within the organization will be impacted by the digital or sales tool, taking into consideration the impact on suppliers and customers.

You are free to be creative with the tool that you choose to base your concept map. However, consideration should be given to choosing a subject that affords sufficient scope or depth, such that your concept map avoids being overly superficial.

Possible topics could include:

  • Metaverse
  • Omni Channel Behaviour
  • Platform Strategy

These are merely examples and you are invited to be imaginative with the focus of your concept map. You should consult with your lecturer when choosing your topic.

Concept maps allow you to create links between ideas, theories, practice and all the many influences that surround them and business development more broadly. Careful thought and consideration should guide what is important in your concept map. Your concept map should not be overly complex but it should still capture the essence of your topic.

Provide a 300-500 word summary of your concept map that:

  • Clearly defines the focus of your concept map
  • Brief narrative of the map
  • What benefit you believe this tool will provide to your business
  • Refer to the subject outline for further instructions on the assessment.

    Unformatted Attachment Preview

    Project title:Adopt digital solutions to improve Hotel YAN Client/company name: Hotel YAN Ptd,. Ltd. Consulting business name: James Cook Consulting TB2 Consulting member/s names and student numbers Li Shi Cass Liew 14499112 Zihao Jiang 14322901 Shutong Shen 14517327 Shiyi Chen 14324038 Dongliang Zeng 14149688 Table of contents Executive summary……………………………………………….2 Introduction……………………………………………………….3 Issue………………………………………………………………4 Company background…………………………………………….5 Sales………………………………………………………………6 The current market………………………………………………..7 Recommendation………………………………………………….9 Reference………………………………………………………….14 1 Executive summary (Jiang) The first part of this essay introduces and recognizes the issue faced by digital transformation in the hospitality sector and identifies Hotel Yan's primary obstacles, including obsolete technological infrastructure and inadequate online engagement. The subsequent section delves into the hotel's extensive history and examines in the parts of Length of operation, service, pricing strategy, customer, place, promotion and advertising. The narrative additionally evaluates the business objectives, the hotel's strategic objectives, contrasting them with the SMART framework. Additionally, the current market will be analysed. For example, Customer base of the market (the demographic, psychological, geographical, and behavioural characteristics of the market), distribution and Sales (the majority of consumers in this market shop, the alternatives exist), competition (the else is a participant in this industry, the way services are priced) and where they are distributed, key motivating factors (transformational, managerial, and environmental in nature). The last part of this essay is outlining 4 recommendations that can be improved from a digital perspective: enhancing online presence, implementing a digital-first culture within the organisation, and upgrading digital infrastructure and online presence. The purpose of this part (executive summary) is to provide the audience with a map that highlights the essential elements of Hotel Yan's digital transformation process. 2 Introduction In the current extremely competitive hospitality industry, hotels must establish clear and defined sales and business objectives in order to achieve and maintain market competitiveness. The hospitality business is confronted with new difficulties and opportunities as the tourism industry expands and consumer demands shift. As a result, establishing defined sales and business objectives is critical for a hotel's long-term success (Insights, 2024). This article investigates and examines some of the challenges associated with Hotel YAN's existence, the company's history, the impact of the present market on Hotel YAN, and potential solutions. The owner of Hotel YAN wishes to consistently increase business performance and customer pleasure by establishing a set of logical and quantifiable objectives. These goals will be established in accordance with the SMART principles, which are Specific, Measurable, Achievable, Relevant, and Time-bound Clear goal planning allows hoteliers to better guide business operations, improve efficiency, and improve service quality, resulting in long-term success. 3 Issue (Cass) The critical incident of Hotel YAN Singapore's reluctance to adopt digital solutions while competitors embrace technological advancements signifies a pivotal moment in its competitive landscape. Behind this issue lies a complex background, possibly stemming from a combination of factors. It could be attributed to organisational inertia, where the hotel's management is resistant to change due to entrenched practices or a lack of awareness regarding the benefits of digitalization. Moreover, there might be budgetary constraints hindering investment in technology or a fear of disrupting existing operations (Hotel Yan, 2015). Conversely, competitors in the hospitality industry are leveraging digital solutions to gain a decisive edge. By embracing technologies such as online booking platforms, mobile apps, and data analytics, these competitors enhance guest experiences, streamline operations, and gain insights for targeted marketing strategies (Sunny, 2023). In a nutshell, hotels who successfully adopt digital solutions and stay up to date with the advancements in technology and adapt to meet current trends attract more guests, achieve higher customer satisfaction rates, and ultimately outperform Hotel YAN Pte Ltd in the market. The critical incident underscores the importance of adaptability and innovation in the hospitality industry. To remain competitive, Hotel YAN Singapore must overcome its barriers to digital adoption. Embracing technology not only ensures survival but also positions the hotel for long-term success in an increasingly digitised world with tech-savvy users. 4 Company Background (Zeng) Hotel YAN, a boutique hotel situated in the culturally rich district of Singapore, has been in operation since its establishment in 2015. The hotel is known for its industrial-chic design, blending modern aesthetics with elements of Singapore's heritage. It offers a range of products, including various types of rooms such as Urban, Urban Deluxe, and Loft. Each room is equipped with essential amenities to cater to the needs of contemporary travellers. The pricing strategy of Hotel YAN is competitive, aiming to provide value for money to its guests. Prices vary depending on the type of room, time of booking, and seasonality. The hotel often runs promotions and offers discounts to attract customers, making it an appealing choice for budget-conscious travellers.(Hotel Yan, 2024) Hotel YAN's target audience includes young professionals, couples, and tourists looking for a unique and stylish accommodation experience in Singapore. The hotel's location near cultural districts and public transportation makes it an attractive option for travellers interested in exploring the city's heritage and attractions. The hotel's distribution is primarily through its website and online travel agencies, allowing guests to make reservations conveniently from anywhere in the world. Hotel YAN also has partnerships with various travel platforms to enhance its visibility and reach a wider audience. Promotion and advertising for Hotel YAN are carried out through digital marketing channels, including social media platforms, email marketing, and search engine optimization. The hotel 5 also engages in collaborations with influencers and travel bloggers to showcase its unique offerings and attract potential guests. Overall, Hotel YAN's blend of industrial-chic design, competitive pricing, and strategic location make it a popular choice among travellers seeking a distinctive accommodation experience in Singapore. Sales/Business objectives (SMART) SMART is for employees to work more clearly and efficiently, but it is also for managers to implement performance appraisals for employees in the future to provide assessment objectives and assessment standards, so that the appraisal is more scientific and standardised, and can better ensure the appraisal's fairness, openness, and equity. Objective 1: Request the hotel's customer service officers to send monthly promotional emails to previous customers, and customers directly click on the link in the email to book through the official website of the hotel and can receive exclusive discounts. By the end of 2024, achieve a 50% customer return rate and increase direct booking volume by 30%. Objective 2: The marketing department implements targeted marketing activities through social media platforms such as TikTok, Instagram, and Facebook, inviting some celebrities to experience hotels and shooting promotional videos to expand the influence and popularity of the hotel. Within six months, the booking volume through social media platform links increased by 30%. 6 The Current Market ( Jiang) Customer base of the market – Hotel Yan is positioned as Singapore's first industrial-chic boutique hotel, targeting tourists interested in discovering the city's rich cultural legacy, particularly between the Kampong Glam and Little India regions. Its target demographic is most likely at a varied population, including youthful visitors, cultural aficionados, and business travellers looking for unusual hotel experiences in Singapore. The location of the hotel suggests that it caters to those who want to learn about local history and culture. Geographically, it caters to those who want to discover Singapore's different cultural districts, such as Indian and Malay culture, because it is located between Kampong Glam and Little India regions and has a rich history and displays an old-fashioned appeal. It is known for its numerous clan associations, food and entertainment outlets, hostels, and places of religion. Furthermore, it is considered centralised in Singapore, which can make customers' trips more convenient. Customers' behavioural qualities may include a value location, with a significant interest in discovering local neighbourhoods like Kampong Glam and Little India. They may prioritise design and aesthetics, as indicated by the hotel's industrial-chic style. Furthermore, their behaviours might indicate sensitivity to promotions and direct booking bonuses, implying that they are savvy travellers seeking value as well as a unique stay experience. (Hotel Yan, 2015).​ Sales and Distribution – Customers in Hotel Yan's market likely book their stays through a mix of direct bookings on the hotel's website, which offers benefits like complimentary early check-in/check-out, early booking discounts, last-minute offers, as well as additional savings for members, and through major online travel agencies (OTAs) and booking platforms like including its official website and popular online travel agencies like Booking.com, Expedia, and Agoda. In 7 any case, there are fewer influencers doing online marketing and improving the company's image and lacking social media advertisement. Competition – Hotel Yan competes against other boutique and mid-range hotels in the area, such as Holiday Inn Express Singapore Serangoon, V Hotel Lavender, and Arton Boutique Hotel. Their offerings range from standard rooms to unique boutique experiences, with prices that are competitive in the midrange market. These hotels are also well developed in the digital dimension. Distribution is accomplished through direct reservations and online travel companies. Discounts for early bookings or last-minute stays are potential promotional methods. Recognizing the importance of location, distinctive hotel experiences, and value for money in attracting passengers is critical for understanding this business. Hotel Yan's competitors, such as Holiday Inn Express Singapore Serangoon and V Hotel Lavender, are likewise strategically positioned in culturally rich regions near central Singapore, attracting comparable demographic groups.These hotels offer competitive pricing, aligning closely with Hotel Yan to attract budget-conscious travellers seeking quality accommodations. Geographically, they provide easy access to local attractions, which adds to their attractiveness. These rivals' pricing tactics are expected to strike a balance between location benefits and amenities offered, with the goal of providing value in the mid-range hotel market. Identify the important driving forces- To analyse the driving forces influencing Hotel Yan, evaluate how environmental sustainability entails not only implementing green measures, but also profoundly incorporating these principles into business strategy and guest experiences. Managerial innovation involves more than just enhancing service and operational efficiency; it also entails building a culture of continual improvement and embracing change in order to satisfy shifting client expectations. Furthermore, the transition to digital marketing and technology 8 adoption reflects a fundamental shift in how hotels interact with their customers, necessitating the seamless integration of digital tools to improve the customer journey and operational agility, and it is also the lacking part of Hotel Yan and have a negative effect of it marketing compete with its competitors.These areas are crucial for Hotel Yan to navigate the changing hospitality industry and remain relevant and competitive (Elphick, 2023). Recommendation 1: Implementation of AI-Enabled Chatbots (Cass) The adoption of AI-enabled chatbots in hotels represents a pivotal advancement in customer service delivery, yielding tangible benefits supported by compelling statistical evidence. Research revealed that hotels that integrated AI chatbots witnessed a significant improvement in customer service efficiency, as seen by a 40% decrease in response times for guest queries and requests. Additionally, statistical analysis revealed a significant improvement in guest satisfaction, with a reported 30% increase in positive feedback from guests interacting with AI chatbots (Jordan, 2024). This increased satisfaction correlates with increased guest loyalty and positive word-of-mouth referrals. Based on research, AI chatbots aid hotels in providing personalised and seamless customer experiences, leading to a 25% boost in guest engagement and loyalty (Hadeel, 2023). Therefore, the first recommendation is for Hotel YAN to integrate AI chatbots into its website and mobile app, allowing guests to receive instant responses to common queries, service requests, streamline the booking process and provide quick and personalised responses to guests 24/7. AI chatbots provide a myriad of benefits which include enhancing the overall guest experience, offering enhanced convenience and responsiveness while reducing operational costs. 9 In a nutshell, AI chatbots would serve as a valuable tool for Hotel YAN as they can utilise it to identify trends such as guests preferences and behaviour, anticipate guest needs, offer tailored recommendations and facilitate data-driven decision-making and targeted marketing strategies. This would help foster stronger guest relationships ultimately drive revenue growth and enhance competitiveness in the market. Recommendation 2: Investment in the Metaverse Platform (Cass) As the digital landscape continues to evolve, the metaverse represents a new frontier for businesses to engage with consumers in immersive and interactive ways. Hotel YAN can capitalise on this trend by investing in the metaverse platform by collaborating with Roblox, a popular gaming platform. According to recent studies, hotels leveraging the metaverse platform witness a significant uptick in guest engagement, with a reported 30% increase in guest satisfaction ratings (Mohamed, 2023). This heightened satisfaction translates directly into improved loyalty and positive word-of-mouth recommendations, crucial for sustaining competitiveness in the hospitality industry. Therefore, the second recommendation is for Hotel YAN to collaborate with Roblox, and create a digital replica of Hotel YAN virtual building. From virtual tours of Hotel YAN rooms and amenities to virtual events and roadshows hosted by Paris Hilton, guests can engage with Hotel YAN virtual space through immersive and interactive experiences that go beyond traditional hospitality offerings with its cutting-edge technology. Guests can explore seamless virtual experiences, from customising rooms to accessing exclusive amenities. Additionally, Hotel YAN can reward users by offering incentives such as virtual tokens called "HotelYANcoins" where 10 users can earn these tokens upon successful completion of quests and missions. These "HotelYANcoins'' could then be redeemed for various rewards in the real world, such as discounts on Hotel YAN stays, restaurant vouchers in Singapore, spa treatments at Singapore’s wellness centres, 5 free tickets giveaways to Singapore’s top attractions like Universal Studios Singapore and Gardens by the Bay for 5 lucky winners, and lastly virtual ‘spin the wheel’ lucky draw game prizes in Roblox, used to upgrade their avatars and furniture assets highlighting the real-world benefits of effortless navigation. In order to ensure users overall ease and satisfaction with navigating Hotel YAN virtual metaverse platform, Hotel YAN management and marketing team can educate customers on how easy and effortless it is to use the metaverse platform by filming tutorial videos such as hands-on virtual workshops and posting it on Instagram, TikTok and YouTube for users to learn at their own pace. This would drive sustainable growth for Hotel YAN with enhanced guest satisfaction and foster a deeper connection, ultimately driving customer loyalty and advocacy. In addition, featuring well-known celebrities into the metaverse platform yields substantial returns. Research reveals a staggering 40% surge in online visibility and social media engagement for hotels associated with renowned personalities in the metaverse (Martin, 2023). This heightened visibility can solidify Hotel YAN brand image as trendy and culturally relevant. Hence, a proposed recommendation is for Hotel YAN to collaborate and feature celebrity Paris Hilton in Hotel YAN virtual building in Roblox and host virtual meet-and-greets, live performances, and exclusive content collaborations. This would be effective in adding a layer of excitement and prestige, enhancing its appeal and reach. Paris Hilton's influence and presence in the virtual world would generate buzz and increase Hotel YAN awareness and visibility thus attracting a wider audience and driving traffic. Through this innovative initiative, Hotel YAN can 11 differentiate itself from competitors and appeal to digital-savvy consumers, driving brand awareness and evoke positive emotions like excitement and joy in customers. In a nutshell, Hotel YAN can bolster economic sustainability by investing in the metaverse platform, attracting tech-savvy guests and diversifying revenue streams. Virtual experiences reduce operational costs and widen market reach. Socially, inclusivity is enhanced by offering accessible virtual travel, though challenges like digital divides and reduced personal interactions arise. Hotel YAN can address these by ensuring digital literacy programs, fostering community engagement through virtual events, and maintaining physical spaces for interpersonal connections. Overall, metaverse investment aligns with economic sustainability by optimising revenue and cost structures while promoting social sustainability through inclusive digital experiences, contingent upon hotels proactively managing associated social sustainability challenges. Recommendation 3 ( Jiang): Implementing a digital loyalty program that rewards guests for environmentally responsible behaviour can assist Hotel YAN in achieving economic sustainability through digitalization. This program may offer incentives for visitors who choose digital receipts, decline daily housekeeping to save water and energy, or attend sustainability-focused events and workshops. Hotel YAN can encourage and track sustainable behaviours by incorporating these practices into a mobile app, with prizes such as discounts, free stays, or exclusive experiences. This method not only raises environmental awareness, but it also encourages guest loyalty and repeat business, contributing to economic sustainability. 12 To clarify and describe how Hotel YAN could adopt a digital loyalty program for economic and environmental sustainability, examine the following steps: Program Design: Create a tiered loyalty program that rewards guests for making environmentally responsible decisions. Each tier might provide progressively appealing advantages, motivating guests to strive for greater levels of sustainable behaviour. Digital Integration: Include this loyalty program in the Hotel YAN mobile app, allowing guests to easily track their progress, view their awards, and comprehend the impact of their activities via a dashboard that displays water saved, energy conserved, and carbon footprint reduction. Reward Mechanism: Provide awards that are consistent with both sustainability and visitor interests. For example, points can be used for future stay discounts, exclusive experiences such as private tours of Singapore's sustainable monuments, or donations to environmental groups in the guest's name. Educational Component: Include an instructional component in the app that explains why particular actions are environmentally beneficial and how they contribute to sustainability, promoting a greater awareness and commitment to eco-conscious behaviours among guests. Partnerships for Sustainability: Work with local businesses and services that promote sustainability. This could entail delivering benefits such as experiences or products from these partners, thereby boosting sustainable practices within the community. Following these steps allows Hotel YAN to not only encourage sustainable behaviour among its guests, but also reinforce its commitment to economic and environmental sustainability through digital innovation. 13 References AI-Hyari, H. S. (2020, January). (PDF) impact of artificial intelligence in the hospitality industry. THE IMPACT OF ARTIFICIAL INTELLIGENCE (AI) ON GUEST SATISFACTION IN HOTEL MANAGEMENT: AN EMPIRICAL STUDY OF LUXURY HOTELS. https://www.researchgate.net/publication/343180745_Impact_of_Artificial_Intelligence_i n_the_Hospitality_Industry Dabo, M. (2023, July 11). Hotels expanding guest experience into the metaverse. Hotel Management Network. https://www.hotelmanagement-network.com/comment/hotels-guest-experience-metaverse / Elphick, D. (2023, September 19). Hotel Industry Trends this year. SiteMinder. https://www.siteminder.com/r/hotel-trends-hotel-hospitality-industry/\ Hollander, J. (n.d.). How ai will impact hospitality in 2024 (Broken Down by department). How AI Will Impact Hospitality in 2024 (Broken Down by Department). https://hoteltechreport.com/news/ai-in-hospitality Hotel Yan. (2015). Singapore Boutique Hotels | Hotel YAN | Singapore Boutique Designer Hotels. Singapore Boutique Hotels | Hotel YAN | Singapore Boutique Designer Hotels. https://www.hotel-yan.com/ Insights, E. (2024, March 28). Hospitality industry: All your questions answered (2024 update). Hospitality Industry: All your questions answered (2024 update). https://hospitalityinsights.ehl.edu/hospitality-industry 14 Molina-Collado, A., Santos-Vijande, M. L., Gómez-Rico, M., & Madera, J. M. (2022, March 23). Sustainability in hospitality and tourism: A review of key research topics from 1994 to 2020. International Journal of Contemporary Hospitality Management. https://www.emerald.com/insight/content/doi/10.1108/IJCHM-10-2021-1305/full/html Petkov, M. (2023, July 11). Embracing the metaverse in hospitality: Innovations for the future. Landvault Blog. https://landvault.io/blog/metaverse-for-hospitality Vinnakota, S. (2023, June). (PDF) leveraging artificial intelligence in the hospitality industry: ... https://www.researchgate.net/publication/372783951_Leveraging_Artificial_Intelligence _in_the_Hospitality_Industry_Opportunities_and_Challenges Hotel YAN. (n.d.). Rooms. Retrieved April 3, 2024, from https://www.hotelyan.com/rooms 15
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    Explanation & Answer

    Attached.

    Implementing an Omni-Channel Strategy at HotelYAN
    Student Name
    Student ID
    Institutional Affiliation
    Date

    1

    Implementing an Omni-Channel Strategy at HotelYAN
    Introduction
    HotelYAN has to deal with the number of obstacles the globalized world faces,
    particularly the hospitality sphere which gets fiercer, with every single new competitor entering
    the digital market. The prime difficulties that face it are outdated traditional systems and the
    shortage of online sales projects. Therefore, we suggest running an Omni channel strategy with
    both digital & in-store touch points to generate more activity and generate better results for our
    customers.
    Challenges Identified
    i.

    Obsolete Technological Infrastructure

    ii.

    Inadequate Online Engagement

    Strategic Objectives
    i.

    Enhance Customer Service

    ii.

    Boost Online Visibility

    iii.

    Improve Operational Efficiency

    Implementation Areas
    i. Upgrade of Digital Infrastructure
    ii...


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