The Government provided loans to the public without enquiring about their credentials and that caused a huge demand in the housing market. However, when the loans came up for payments most of the people…
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The income of the people in the country dipped and there were a visible decrease in the GDP of the country. The US housing market boom busted with the house prices hitting the floor. The financial market was in turmoil and organizations reported bankruptcy. (Isidore, 1st December, 2008). The conditions were the same in all the economies all over the world. There were huge job cuts in most of the business organizations over the world as the companies were earning negative profits. This was due to the reason that the borrowers were defaulting in their payments. The companies had to look into ways of cutting their costs and thus they started downsizing the number of employees. The prices of the commodities were rising and the people had less money to buy. The capital market was in disarray with the prices of the stocks going down. On the whole, all the sectors in the economy were affected. (Why is our economy in a recession, 28th April, 2008). The recession was hard on the employees of different organizations as most of them lost their jobs or suffered pay cuts. The motivational level of the employee went down and the companies had to find newer ways of motivating the employees. With the increase in the prices of different commodities and services, companies were looking for cutting the costs. The effect was on the cost of the employees. Some of them suffered pay cuts while some had to be content with lesser benefits. For example, companies providing cars to employees had to stop giving the benefit, as that would mean higher costs. This directly affected the employee motivation as they found it difficult to work under the new conditions. This affected the operations of the companies and further affected the profitability. (Staff motivation during recession, 5th October, 2009). The situation was the same across all the industries in the world and the hospitality sector was no
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Retail businesses include restaurants and bars, accommodations, vehicle service stations, department stores, etc. Retail managers are considered to be responsible for the success of retail stores. The general responsibility of retail managers is to guarantee that their establishment functions smoothly and efficiently through the provision of quality goods and services to their clients.
The organisation chosen for this report is Radisson Edwardian Hotel in the UK. It is one of the famous luxurious hotels in the UK. Further, this report will outline the 7Ps of marketing and how Radisson Edwardian Hotel applied 7Ps in their hotel.
The organisation selected for the analysis from the hospitality industry is Marriott international. Marriott international, Inc. is one of the leading lodging companies in the world. The company is headquartered in Bethesda, Maryland, USA. It has more than 3,800 lodging properties in more than 72 countries and territories with the reported revenues of nearly $12 billion in fiscal year 2012. Marriott has more than 50 hotels in UK and operating as one of the most renowned hotel in UK (Marriott, 2013a). The report will analyse the environment of the Marriot specifically in UK.
The discussion of the development of the UK budget hotel sector is important in giving inferences on how an enterprise grows into one sector whose purpose is to cater to a wide range of people. Its development which is one focus of the research is a relevant discussion that gives insights on how economic and social factors impact the development of an industry, such as the UK budget hotel.
Some organizations have adapted better than others, depending on the sector they belong to (BBC, 2008).
The UK is increasingly realizing the importance of the service sector, which has provided relatively more jobs for its citizens compared to all the other sectors.
Clegg, Chief Executive of the British Olympic Association (London2012), an Olympic village has been designed where the ‘aspirations are to create an Olympic Village which will reflect the efficiency of Sydney, the quality of the living accommodation in Athens and the carnival
cated by the Chairman of Marriot Hotels, who believes that a business must satisfy these three groups in order to foster the success of the business (Christopher, Payne and Ballantyne, 196). The Company philosophy is a strong belief in its associates and the conviction that
(Marriott International - HR Practices, 2003) The essential business philosophy he follows is to promote a free and democratic set up. He received the Winston Churchill ward for “for his lifelong commitment to promoting democracy through
In the same way, there are models focusing on motivating the employees to build up production and in the long run improvement in the overall performance of the firm. On the other hand, recent theories indicate
on in China is marked by traditional full-service framework which is very strong in offering guest room function but has a weak provision for ancillary facilities. Its target market are the students, commerce travelers and its local populace. Investment in the Chinese economy
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