Ritz Carlton Company Case Study
This is a big number of countries to be occupied by a chain of hotels. The company has enjoyed success all through its lifespan and this does not show any signs of stopping because the management works around the clock to keep the company together, up and running. Because of this, there is need to ensure that the company keeps up the good working relationship it has with all its customers as well as clients and suppliers. The employees here are also very hospitable and this has enabled them to have partnerships with several other organizations and governments that depend on the hotel especially in cases where traveling is involved. This here is a business plan that is proposed because it has a potential of ensuring that Ritz-Carlton Company Maintains its position in the market or the hotelier industry.
However, every client gets the best services possible that keeps them coming back. This is because the hotel hires the best of the best outsourced across all the parts of the world also creating a diversity. Moving Forward- Detailed Plan and Implementation For the growth of this company to be guaranteed, there are steps that the management must be willing to take without looking too deep into the risks because they are very necessary. Any given business, it is important that they are able to expand very well, reduce costs and carry out promotion effectively. Expansion The expansion involves the growth of a business to ensure that it commands more resources. In other words, it is a combination of two businesses to form one.
Merging is done to control and command better resources as well as markets. Merging with another company would mean that Ritz-Carlton gets a lot of exposure and the management is also likely to learn new skills. A merger is very effective because the company may not have to foot all the bills that there is. The two companies merging share costs in everything. The companies as at this point are targeting other corporate companies with people who travel the world a lot of times and can hardly settle in one place (Martynov, 2016). This enables them to become permanent clients of the company because they access services of Ritz-Carlton irrespective of the part of the world where they are. At the same time, the government official who travels so much is also very potential clients because most of them prefer silent environments where they can hold their meeting without any disturbances.
Looking at it from this angle, the company is targeting individuals of a particular status in the society because it is also conferred a particular status in the hotelier industry. These type of clients are not very easy to reach but the company has to try the level best to ensure that their attentions are captured. The company has to part with a few coins to get this done because it is attested method that has been proven to work. Most people tend to feel special and more persuaded when they are reached out to in person. This does not have to take a lot of time because of the current technology which can go a long way in making this possible.
Cost Reduction The cost of running a company especially in the hotelier industry may be so high. As a result, there is need to reduce this cost because running at a cost so high may not be very good for the company because the profit margin may be reduced greatly. The main reason for training is to ensure that employees are very competent in what they do. Currently, things change so much in the business world and it is important that every company trains their stuff. In the hotelier industry, this training is even more important because things changed every day. At the same time, ideas are exchanged across the world and this is the same thing that Ritz-Carlton should emulate.
Carrying out a market research in this perspective is encouraged so that what is lacking is improved and made better so that clients can prefer it. The structures that this company has put up in every region that it has a branch is just breathtaking. This is another way in which it lures several people to give it preference. Acceptability is of importance. However, this can change especially for those businesses and companies that have been in existence for long. For example, if they are so much inclined to the old ways and are not willing to accept change then they are likely to remain irrelevant. This is why some businesses are more popular than others. The magic is generally in the rate at which one creates awareness as compared to another.
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