Marriott International Strategic Plan.
Marriott International Strategic Plan
Issue/Problem/Task to be Addressed The task that will be addressed in this SMAC is Marriott International existing strategy and we will propose a new strategy to complement the existing strategy. The Marriott International has built a limitless name for themselves for over 80 years with the quality of service they continuously provide with honesty and integrity. They continue to lead globally in the lodging industry affirming the company’s industry-leading RevPAR premiums. They have over 3000 properties and a massive selection of brands in the industry. They are the leaders in the frequent-traveler program and provide an innovative marketing strategies and global sales. The new strategy we propose for the Marriott is to develop an Air BnB types operation that can co-exist with the current strategy. Topic(s) from Functional Knowledge Area Related to the Issue/Problem/Task This SMAC will cover all the components of the Basic Strategic Planning Model: • Analysis of the Internal and External Environments of the Marriott (STEEP) • Discussion of the Marriott’s existing corporate and business strategies including mission statement, objectives and vision • Review of the Marriott’s organizational structure and corporate governance • Evaluation of the existing strategy (financial review, stock investment review, and an overall review which includes other quantitative and qualitative factors) • Social responsibility and stakeholder analysis The ethical situation the Marriott International Hotel dealt with was a data breach that exposed up to half a billion guests. The breach showed evidence that it started when the Marriott acquisition of the Starwood Hotel and Resorts. Prior to Starwood being bought over by the Marriott International Hotel they suffered a huge credit card hack in 2014 and Marriott ignored the warning signs. Security data breaches occurs frequently more so now than ever in businesses and organization they should be prepared if one should happen. Our recommendation is that they should be totally ready with an established breach team that has a basic understanding and knowledge. This team should include crisis management experience, legal counsel and experts such as media relations, forensics and incident handlers. They also should be prepared to change the virus protection software, update their privacy protection plan and train employees on the importance of going into unsecure websites and emails. The social responsibilities of the Marriott International hotel are presently included in a five-year plan to reduce the environmental footprint such as water, carbon, waste and renewable energy. Also, 100 percent of MI hotels will have a sustainability certification and 650 hotels will pursue LEED certification or equivalent by 2025. The hotel chain is also socially conscious about animal welfare and the importance it plays in them being a safe and responsible food product and supply chain. They are devoted to sourcing 100 percent their shell, liquid and eggs products from cage-free sources throughout our global operations for all owned, managed and franchised properties by the end of 2025. Resources The sources for this SMAC will include the following: 1. https://marriott.gcs-web.com/financial-information/sec-filings including 10-k, proxy and other significant reports. 2. At least two scholarly sources such as: • Dobrosielski, C., Sep. 2019. Scant progress toward executive parity at hotels. 3. Other sources related to the company such as: • Hoisington, A., Sep. 2019. Extended-stay development booms as demand grows. • Volodzko, D. Dec 4, 2018, Marriott Breach Exposes Far More Than Just Data, www.forbes.com • https://economictimes.indiatimes.com/topic/Marriott