week 6 Strategic plan
Strategic Plan
STR/581
Jaquanda Smith
April 7, 2014
Dr. Hoda Bagdady-Asal
Table of Contents
Executive Summary 3
Company Background 4
Mission, Vision, Values 4
Company Environmental 5
Remote 6
Industry 7
Operating 8
SWOT 9
Company Position 11
Company Structure 12
Best Value Disciplines 12
Strategic Choice 12
Strategic Evaluation 13
Implementation Plan 13
Objective Table 14
Strategic Controls 16 Gantt Chart 17
Conclusion 17
References 18
Executive Summary
Organizations incorporate strategic plans to effectively execute goals. The fundamentals of strategic planning entail elements such as, researching, analyzing, implementing, and evaluating. Jay Pritzker founded Hyatt Hotel Corporation in 1957. Hyatt Hotels Corporation is a global organization in the hospitality industry. Hyatt has been a public organization since 2009.
With approximately 549 properties of which are owned, managed, franchised, and developed. Hyatt prides itself on “Being The Preferred Brand.” Hyatt has empowered brand owners in effective decisions that will directly affect the interested parties of that particular brand. Approximately five months ago, Hyatt Hotels acquired Hyatt Regency located in Orlando, Florida. This strategic plan will focus on the newly acquired property known as Hyatt Regency.
As stated previously, Hyatt’s primary goal is to “be the preferred brand.” Because of this, Hyatt continually develops various strategies to stay on par with that initial goal. One form of a strategy, which allows an organization to focus on delivering superior customer value, is known as value strategies. Through this focus, a company can incorporate a variety of the three methods. These methods are operational excellence, customer intimacy, and product leadership (Pearce & Robinson, 2013). For purposes of this strategy a focus on the implementation of customer intimacy, as it relates to Hyatt Regency will be provided.
To achieve success for its objective of “being
STR/581
Jaquanda Smith
April 7, 2014
Dr. Hoda Bagdady-Asal
Table of Contents
Executive Summary 3
Company Background 4
Mission, Vision, Values 4
Company Environmental 5
Remote 6
Industry 7
Operating 8
SWOT 9
Company Position 11
Company Structure 12
Best Value Disciplines 12
Strategic Choice 12
Strategic Evaluation 13
Implementation Plan 13
Objective Table 14
Strategic Controls 16 Gantt Chart 17
Conclusion 17
References 18
Executive Summary
Organizations incorporate strategic plans to effectively execute goals. The fundamentals of strategic planning entail elements such as, researching, analyzing, implementing, and evaluating. Jay Pritzker founded Hyatt Hotel Corporation in 1957. Hyatt Hotels Corporation is a global organization in the hospitality industry. Hyatt has been a public organization since 2009.
With approximately 549 properties of which are owned, managed, franchised, and developed. Hyatt prides itself on “Being The Preferred Brand.” Hyatt has empowered brand owners in effective decisions that will directly affect the interested parties of that particular brand. Approximately five months ago, Hyatt Hotels acquired Hyatt Regency located in Orlando, Florida. This strategic plan will focus on the newly acquired property known as Hyatt Regency.
As stated previously, Hyatt’s primary goal is to “be the preferred brand.” Because of this, Hyatt continually develops various strategies to stay on par with that initial goal. One form of a strategy, which allows an organization to focus on delivering superior customer value, is known as value strategies. Through this focus, a company can incorporate a variety of the three methods. These methods are operational excellence, customer intimacy, and product leadership (Pearce & Robinson, 2013). For purposes of this strategy a focus on the implementation of customer intimacy, as it relates to Hyatt Regency will be provided.
To achieve success for its objective of “being
References: Bloomberg. (2014). Retrieved from http://www.bloomberg.com/news/2013-08-28/hyatt- to-acquire-peabody-orlando-hotel-for-717-million.html eHow. (2014). What Is A Value Statement. Retrieved from http://www.ehow.com/about_5063071_value-statement_.html Hotel Business Review. (2014). Hotel News Wire Hyatt. (2013). Retrieved from http://www.hyattdevelopment.com/ competitive_strengths/world_class_brands.html Pearce, J Global Competition (13th ed). New York, NY: McGraw Hill Rosen Centre Hotel. (2014). Retrieved from http://www.rosencentre.com/