The Hyatt Hotels Corporation is an American multinational hospitality organization that manages luxury hotels and resorts. The different environmental phenomenon that is faced by the organization has affected the decision making properties resulting to its wide expansion in the business lines. Since its inception on 1957 the merger and acquisitions that were undertaken by the business has helped in the wide growth of the business while operating in around 54 nations (Myung, McClaren and Li 2012). The industry represents the physical manifestation of the businesses as the hotels and the related buildings occupy the most prominent part of the cities contributing to the economy of the tourist spots leading to improvements in the national GDP.
The purpose of undertaking the report is to identify the micro and macro environmental situations that are faced by the organization, which influenced its decision making and other processes. The identification of the micro and macro environmental situations will be helping the organization in maintaining the efficacy of the systems of the same.
· Political stability in the host economies
· Interference in industry by government
· Trade regulations and tariffs
· Different Pricing regulations for the different services while performing in the diversified economies (Myung, McClaren and Li 2012)
· Legislation based on the payrolls and wages of the employees
· Safety regulations that are imposed by the diverse governments
· The economic system that is followed by the host nation creates an impact on the smooth functioning of the systems of the business
· The differences in the exchange rates and the stability of the economies affected the functioning of the business. The fluctuations in the European markets have affected the operations of the business (Myung, McClaren and Li 2012).
· Identification of the comparative advantage of undertaking business between two host nations through the identification of the economies of scale as it will be helping the business in maintaining the profitability
· Identification of the Labor costs and the costs of production helps in maintaining the efficacy of the functions as per the objectives of the business.
· Differences in the demographic elements help in maintaining the efficacy of the functions as per the preferences of the customers (Xu and Gursoy 2015)
· The level of education and employability of the members in the society has helped the organization in identifying the prospects of its growth in the different market situations.
· Technological innovations that are made by the competitors of Hyatt Hotels in the host countries affect the smooth operations of the concerned organization.
· The impact of technologies on the organizational product offerings has helped in maintaining the consistency (Myung, McClaren and Li 2012)
· The rate of technological diffusion that is persistent in the different economies has affected the performance of the business.
· The different environmental regulations that are imposed by the government and the other environmental protection bodies has affected the functioning of the Hyatt Hotels
· Application of “green approach” in the waste management practices has affected the functioning of the systems of the business while operating in the international markets.
· Imposition of different Copyright and patents as per the Intellectual property law restricts the smooth operations of the business while operating in the international markets
· The imposition of the Consumer protection and e-commerce regulations and data protection legislations has helped in maintaining the efficacy of the systems of the business while operating in the external markets (García-Lillo, Úbeda-García and Marco-Lajara 2016).
· Adherence to the Health and safety laws and regulations has helped in maintaining the efficacy of the ethical values that are planned by the business.
The Suppliers affect the profitability and reputation for maintaining the smooth functioning of the systems of the business applications. Hyatt’s Supply Management Team has developed successful collaboration with the different suppliers and corporations in 54 nations, which has helped in the growth of the business through smooth functioning of the processes (Law, Buhalis and Cobanoglu 2014).
Hyatt hotels provide a variety of services to the customers based on the identification of the preferences of the customers. The preferences of the customers have helped in improving the line of product and service offerings.
The organization has faced a wide range of competitors while operating in the different markets. The top competitors of the organization are Trident Hotels, Taj Hotels and Starwood Hotels and Resorts. The services that are offered by the competitors are likely more preferable to the consumers due to the technological advancements and the proactive behavior of the employees (Wang, Chen and Chen 2012). Therefore, the organization must take steps to build on the technological elements in order to add on to the competitive edge of the business apparatus.
The utilization of proper media for publication and promotion of the business apparatus has helped in maintaining the different changes in the systems of the business while operating in the international markets (Singal 2014). The concerned organization has utilized the digital promotions in order to maintain the efficacy of the performance of the business.
The intermediaries and subsidiaries have helped the organization in reaching out their product offerings to the concerned consumers. The intermediaries have helped in the smooth functioning of the business applications with lower amount of risks faced by the businesses.
· Wide portfolio is maintained by the organization, which has helped in the growth of the businesses in the market.
· Collaboration with the different international players has helped in enhancing the functions of the business.
· Wide range of food and beverages offered by the organization
· Continuous Technological innovation in the systems of the business has helped in maintaining the sustenance.
· Tough competition in the hospitality industry has limited the market share of the business (Sisson and Adams 2013).
· The lower compensation that is provided by the organization to its employees has created discontent among the same resulting to lag in the productivity of the business.
· Enumeration of different customer loyalty plans and other development plans will be helping the organization in maintaining the smooth operations of the systems of the business (Testa and Sipe 2012).
· Retention of the employees in the organizational context will be helping the same in maintaining the efficacy of the productivity.
· The better services provided by the competitors of the business, more specifically by the Trident Hotels and Taj Hotels. It has affected the proper functioning of the systems of the business while operating in the international markets.
· Security issues that are faced by the clients due to terrorism in different regions.
Therefore, from the report it might be concluded that the proper functioning of the organization, Hyatt Hotels Corporation, is dependent on the different macro and micro environmental factors that have affected the proper functioning of the business while operating in the international markets. The key changes in the systems of the business are based on the decision making systems which is influenced by the external and internal environment of the business. The hospitality industry has encountered rapid growth since the last decade. Globalization has improved the scope of expansion of the industry as per the service offerings in the international markets.
García-Lillo, F., Úbeda-García, M. and Marco-Lajara, B., 2016. The intellectual structure of research in hospitality management: A literature review using bibliometric methods of the journal International Journal of Hospitality Management. International Journal of Hospitality Management, 52, pp.121-130.
Law, R., Buhalis, D. and Cobanoglu, C., 2014. Progress on information and communication technologies in hospitality and tourism. International Journal of Contemporary Hospitality Management, 26(5), pp.727-750.
Myung, E., McClaren, A. and Li, L., 2012. Environmentally related research in scholarly hospitality journals: Current status and future opportunities. International Journal of Hospitality Management, 31(4), pp.1264-1275.
Singal, M., 2014. The business case for diversity management in the hospitality industry. International Journal of Hospitality Management, 40, pp.10-19.
Sisson, L.G. and Adams, A.R., 2013. Essential hospitality management competencies: The importance of soft skills. Journal of Hospitality & Tourism Education, 25(3), pp.131-145.
Testa, M.R. and Sipe, L., 2012. Service-leadership competencies for hospitality and tourism management. International journal of hospitality management, 31(3), pp.648-658.
Wang, C.H., Chen, K.Y. and Chen, S.C., 2012. Total quality management, market orientation and hotel performance: The moderating effects of external environmental factors. International Journal of Hospitality Management, 31(1), pp.119-129.
Xu, X. and Gursoy, D., 2015. Influence of sustainable hospitality supply chain management on customers’ attitudes and behaviors. International journal of hospitality management, 49, pp.105-116.
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