A Virtual Business Design

3202 Words Mar 9th, 2012 13 Pages
Section 1: Introduction
This report aims to use industry statistics, theory, and literature of management to outline key aspects of the boutique hotel chain, Zahra. It will specifically look at Zahra‟s mission statement and goals based on an analysis of the country, industry, and firm environment; as well a reflection on corporate citizenship, and company ethics. Additionally, this report will look at how senior managers of Zahra will work together to resolve the problems that arise when running the business. Finally this report will briefly conclude, reflecting on how successful the decision making process was and what the firm recommends for the future. Readers of this report should assume its part of a five year plan, where each team
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Zahra’s managerial team subscribe to the argument that planning is a necessary step, and have therefore outlined goals (Locke & Latham 1984; Richards 1986). The executive team feel this will benefit their organisation long-term by providing better performance, clarity of expectations and helping to gauge processes (Locke & Latham 1984; Richards 1986; Washington 2003; Pritchard, et al. 1988; Siler 1989). Tables 1. & 2. below show the strategic and tactical goals of Zahra.
Table 1. Strategic Goals
Our Strategic Goals: targets or future results set by top management (Bartol et al 2008)
To achieve organisational awareness of 50% of our target market in the first year, and reach 90% thereafter.
To achieve 10% market share in the high end hotel market by 2015.
To cover costs and achieve a 10% profit margin in the first year and increase exponentially thereafter.
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Table 2. Tactical Goals
Tactical Goals: targets or future results usually set by middle management, spelling out what the departments must to do achieve strategic goals (Bartol et al 2008).
To achieve organisational awareness through public relations, marketing and advertising, through media releases, brochures, corporate advertising, alliances with firms etc.
To achieve 50% occupancy of all hotels in the first year, and 70% thereafter.
To address our
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