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Marriott is a multinational company developed in America. The company franchises, and manages hotel services. The headquarters of the company is situated in Maryland, USA. The operations of Marriott started as a nine-seat A&W root beer stand in 1927. It is now acknowledged as a top employer for providing superior organisational operations. The main core values of the company are to pursue excellence, put customers first, embrace changes, serve the globe, and act in terms of integrity (Marriott International, Inc, 2022). It is one of the largest hotel companies located across the globe (Marriott International, Inc, 2022). It is a luxury hotel and high budget company that provides luxury services to the customers. There are more than 30 brands located across more than 130 countries.
The main challenge in the issue that the company is facing is related to the covid-19 pandemic situation. It has impacted the operational activities as well as financial functions of the company (Kaushal and Srivastava, 2021). It has brought a useless economic loss and led to unemployment of thousands of employees who were working in Marriott (Marriott International, Inc, 2022). These challenges are the severe problems for Marriott. During 2019-2020 profitability and revenue collection of Marriott also decreased. The number of customers also declined to a massive extent. Another severe issue that the company is facing is related to the decrease in loyalty and satisfaction of the customers towards the brand of Marriott.
The VRIO analysis will help analyse the internal competencies and capabilities of Marriott. Marriott's VRIO analysis is very significant to understand the competencies and capabilities of the company (Ariyani and Daryanto, 2018). The concept behind "resource-based strategic analysis" is that the strategic capabilities may allow Marriott create a long-term competitiveness over its rival companies. Marriott may advantage from this long-term strategic advantage by creating above-average revenue and avoiding market pressures. Value of the resources, Rareness and uniqueness of the resources, Imitation Risks, and Organizational Competencies are the abbreviations for VRIO (Ariyani and Daryanto, 2018). VRIO is a strategic instrument that focuses on capabilities. By better considering the dynamics of resource in Marriott's whole business plan, executives at Marriott can use the VRIO framework to gain a durable competitive edge.
(Source: Marriott International, Inc, 2022; Ariyani and Daryanto, 2018)
(Source: Ariyani and Daryanto, 2018).
A company's resources can be classified into two parts including tangible resources as well as intangible resources. Physical items of Marriott are plant, equipment, money, building, land, and inventory are illustrations of Marriott's tangible key resources (Marriott International, Inc, 2022). Marriott's intangible resources are the skills and organizational level of its management. The company's brand image, goodwill, trademarks, robust supply chain, and intellectual property rights.
The financial capabilities or resources, marketing experience, human resource management, and operational management all seem to be the most important resources for a Marriott (Marriott International, Inc, 2022).
The Marriott's unique resources are very rare or expensive to get. When they are not unusual, both the existing players as well as novices will be able to instantly obtain products and engage in the competitive market (Marriott International, Inc, 2022). So the company needs to maintain cost effectiveness and provide good quality services to the customers. It has developed a uniqueness of the products of Marriott.
Hard to imitate
It appears that the Marriott's primary distinctiveness is impossible to emulate. On a larger scale, replication of Marriott products can exist in two forms: replication of the company's activities and products and opponents developing substitute products that change the current market position. The company thereby can maintain the products and services rare and thus it becomes sometimes difficult for the rival companies to imitate the service quality and products of Marriott (Marriott International, Inc, 2022).
The level of manipulation is frequently determined by the firm's team and operational plans. As a result, the rate of exploitation is a suitable gauge for analysing the effectiveness and human resource management's sustainability (Marriott International, Inc, 2022). Capabilities emerge or grow over time when a business starts doing the activities to use its core competencies. The leaders and managers try to utilise the competencies, capabilities, core activities and all the resources for enhancing the competitiveness (Lim and Seo, 2021).
The main resources of the company include its customer’s satisfaction and ability to manage loyalty regulatory and legal obligations, investment prospects, supply chain management and distribution system, brand awareness, leadership styles, financial power, and marketing expertise (Lim and Seo, 2021). These main resources increase uniqueness, and value to the company. These also help in increasing competitive advantage and the marketplace. Using specific marketing techniques the managers try to attract the customers.
Cost effective and good quality hotel services and products in the hospitality industry the managers of Marriott try to increase satisfaction and loyalty among the customers (Avgeli etal., 2020). Implementing Innovation and new product designs are also another important competencies of the company that help in increasing competitive advantage. The main resource of the company's human capital without which the company cannot match the requirements and needs of the customers. Innovative thinking and that tendency to meet the demands and requirements of the customers are also helpful for managing the resources in the company. It also helps in developing brand image (Haghighi et al., 2017).
Strengths/ opportunities (SO)
Strengths/ Threats (ST)
Weakness/ Threats (WT)
Therefore, it can be recommended that Marriott's advantages are its expertise as well as resources. These can help the company gain a long-term competitive edge in the market. Positive traits of precious assets and competencies, processes and procedures, people resources, previous history and victories, capital backing, and physical assets like property and land need to be maintained to contribute to the strength of the company (Paul and Iuliana, 2018).
By using environmentally friendly and green operations Marriott can attract various customers. It also can help in reducing environmental degradation (Yusof et al., 2017). Good customer service can also make the consumers recommending the Marriott hotel service to others. It will therefore develop the company's brand awareness (Sürücü et al., 2019).
Using a better people management strategy is also important for Marriott because it can also improve their customer service by identifying the needs and requirements. The company can also use green practices to improve satisfaction of the customers (Yusof et al., 2017).
The managers can also identify the comments and feedback of the customers and by using those comments and feedback they can improve their services (Casado-Díaz et al., 2017). Using social media marketing strategies the company can also try to attract many customers towards the services of the company. It will also generate new customers and help retain the existing customers. They can also design their services as per the needs and requirements of the consumers. It therefore can help in managing customers' satisfaction and loyalty (Avgeli etal., 2020).
Marriott can develop a strong track record not just of announcing new services in the home markets but also to cater to multiple sectors based on the consumer p
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