Strategic Management On Marriott International Assignment Sample

Table of Contents

Strategic Management On Marriott International Assignment
Introduction to Marriott Inc.
Financial Position:
Global Position:
Competition & Plans for International Expansion:
The Mission Statement and Vision match with the reality of the Marriott's scope and operations?
The organizational culture and corporate social responsibilities
Strategic Analysis
Internal Analysis
External Environment Analysis
Industry Environment
SWOT Analysis
TOWS Analysis
Business Strategy
Corporate Strategy
Evaluation

114033 Pages 8203 Words

Strategic Management On Marriott International Assignment

Introduction to Marriott Inc.

Marriott International, Inc. is a global hotel and lodging company that operates in over 131 countries and territories, with a diverse portfolio of more than 30 hotel brands (Marriott International, 2021). The company's global presence is strongest in the United States, which accounts for 64% of its total rooms, followed by Asia Pacific, Europe, and the Middle East and Africa (Marriott International, 2021).

New Assignment Help provides high-quality assignment writing services in the UK, ensuring that students receive the support they need to succeed academically. Our team of professional writers is dedicated to delivering well-researched and properly formatted assignments. We offer free assignment samples UK to demonstrate our capabilities and commitment to excellence. Trust New Assignment Help for all your assignment needs and experience the difference we make.

Financial Position:

The COVID-19 pandemic had a significant impact on Marriott's financial performance in 2020. Despite a 60% decrease in total revenues, the company demonstrated resilience by reporting a net income of $640 million. Marriott maintained a strong balance sheet with substantial total assets and liabilities. It also paid dividends to shareholders (Marriott International, 2021).

Global Position:

In the highly competitive hospitality industry, Marriott faces competition from major rivals such as Accor, Hilton, and InterContinental Hotels Group (IHG). These companies employ similar strategies, focusing on brand differentiation, customer loyalty, and innovation (Marriott International, 2021).

Competition & Plans for International Expansion:

To maintain its competitive edge, Marriott has invested in expanding its brand portfolio and global footprint. The company has targeted Asia Pacific, particularly China and India, for international expansion, forming partnerships with local developers to establish a presence in these high-growth markets. Marriott has also pursued expansion opportunities in the Middle East and Africa through partnerships and acquisitions. In Europe, the company has focused on growing its luxury and lifestyle brands (Marriott International, 2021).

Mission Statement Review

Marriott International's mission statement is: "To make people's lives better through the power of hospitality." This mission emphasizes the company's commitment to creating positive experiences for guests and improving their overall well-being (Marriott International, 2021).

This mission statement reflects Marriott's commitment to providing exceptional vacation and leisure experiences for its customers. The company aims to enhance the lives of its customers by offering memorable and high-quality hospitality services in renowned destinations worldwide.

Vision Statement Review

Marriott International's vision statement is: "To be the world's favourite travel company." This vision reflects the company's aspiration to become the preferred choice for travellers worldwide and to provide exceptional hospitality services (Marriott International, 2021).

This vision statement highlights Marriott's aspiration to become the preferred choice for travellers globally. The company aims to achieve this by continuously delivering exceptional experiences and maintaining its position as a leading player in the travel and hospitality industry.

Stakeholder Analysis

Marriott International has a diverse base of shareholders, including institutional investors, individual shareholders, and mutual funds. These shareholders hold ownership stakes in the company's common stock, which is publicly traded on the NASDAQ stock exchange.

Institutional investors play a significant role in Marriott's shareholder base. According to the latest available information, some of the top institutional shareholders of Marriott International include The Vanguard Group, BlackRock, and State Street Corporation (Yahoo Finance, 2021).

These institutional investors often have long-term investment strategies and seek to maximize their returns by holding shares in well-established and profitable companies like Marriott. They closely monitor the company's financial performance, strategic initiatives, and corporate governance practices.

Individual shareholders, including retail investors, also hold shares in Marriott International. These shareholders may include employees, individual investors, and other stakeholders who believe in the company's growth potential and want to participate in its success.

The Mission Statement and Vision match with the reality of the Marriott's scope and operations?

Marriott International's mission statement and vision align with the organization's scope and operations, as evidenced by its organizational culture and CSR practices. The company's mission and values guide its commitment to sustainability, community engagement, and ethical business practices.

Marriott's mission statement emphasizes its dedication to providing exceptional experiences for guests and creating a positive work environment for employees (Marriott International, 2021). The company's CSR initiatives, such as sustainable operations, community development, and human rights advancement, directly contribute to fulfilling this mission and reflect its commitment to social and environmental responsibility (Marriott International, n.d.).

The vision statement of Marriott focuses on being the global leader in hospitality by exceeding customer expectations, promoting employee growth and development, and delivering profitable growth (Marriott International, 2021). The company's organizational culture, which emphasizes teamwork, diversity, and excellence, aligns with this vision, and supports the goal of creating exceptional experiences for guests (Marriott International, 2021).

The alignment between Marriott's mission statement, vision, and its actual practices in organizational culture and CSR demonstrates that the company's scope and operations are in line with its stated objectives. Marriott's commitment to sustainability, community engagement, and ethical business practices contributes to its reputation as a responsible corporate citizen in the hospitality industry.

The type of mission that Marriott International is pursuing.

Marriott International is pursuing a customer-centric mission, focusing on providing exceptional service and experiences to its guests. The company's mission statement emphasizes its commitment to creating unforgettable moments for its customers and being the leading provider of hospitality services globally.

Marriott's mission is reflected in its dedication to customer satisfaction, quality service, and personalized experiences. The company aims to exceed guest expectations and build lasting relationships by delivering exceptional hospitality and meeting the unique needs of everyone (Marriott International, 2021).

By adopting a customer-centric mission, Marriott aligns its strategies and operations to prioritize customer satisfaction and loyalty. This approach helps the company maintain its competitive advantage in the highly competitive hospitality industry by differentiating itself through superior service and personalized experiences.

Stakeholder Power/Influence Matrix

Creating a stakeholder power/influence matrix helps in understanding the various stakeholders associated with a company and their level of influence on the company's strategy. Below is a stakeholder power/influence matrix for Marriott International:

High Power, Low Interest: meet their needs, keep satisfied.

Local Communities: Local communities near Marriott properties may have high power due to their influence on issues such as zoning, environmental impact, and community development. However, their interest in the company's strategy may be relatively low compared to other stakeholders [Refer to appendix 2].

High Power, High Interest: key player, Engage Closely.

Shareholders/Investors: Shareholders and investors have a high power and high interest in Marriott's strategy as they provide financial resources and expect a return on their investment.

Employees: Employees play a crucial role in the success of Marriott and have a high interest in the company's strategy as it directly impacts their job security, career growth, and work environment.

Low Power, High Interest: Show Consideration, Keep informed.

Customers: Customers have a high interest in Marriott's strategy as it directly affects their experience and satisfaction with the company's products and services. While individual customers may have low power, their collective voice and purchasing power can influence the company's strategy.

Non-Governmental Organizations (NGOs): NGOs focused on social and environmental issues may have a high interest in Marriott's strategy, particularly in areas such as sustainability, diversity, and community engagement.

Low Power, Low Interest: Least Important, Minimal Effort.

General Public: The public may have low power and low interest in Marriott's strategy, as they are not directly involved with the company's operations or directly impacted by its decisions.

The influence of stakeholders on Marriott's strategy can vary.

Shareholders and investors typically have significant influence through their voting rights and financial contributions. Employees can influence strategy through their expertise, feedback, and labour unions.

Customers and NGOs can influence strategy through their preferences, advocacy, and public pressure. The company considers the interests and concerns of various stakeholders while formulating and implementing its strategies.

The organizational culture and corporate social responsibilities

Marriott International has a strong organizational culture that emphasizes values such as integrity, excellence, diversity, and teamwork. The company strives to create a positive work environment that fosters employee engagement, career development, and a sense of belonging. Marriott's culture promotes inclusivity and encourages employees to deliver exceptional service to guests (Marriott International, 2021).

In terms of corporate social responsibility (CSR), Marriott is committed to making a positive impact on society and the environment. The company's CSR initiatives revolve around three pillars: "Sustainable Operations," "Building Thriving Communities," and "Advancing Human Rights." Marriott aims to minimize its environmental footprint, support community development, and promote human rights and responsible business practices throughout its operations (Marriott International, n.d.).

Marriott's sustainability efforts include reducing water and energy consumption, waste management, and promoting sustainable sourcing and supply chain practices. The company actively engages in community development projects, disaster relief efforts, and charitable giving through its Marriott International Foundation. Additionally, Marriott is dedicated to promoting diversity and inclusion, both within its workforce and in the communities, it operates in (Marriott International, n.d.).

These organizational culture and CSR practices align with Marriott's mission and values, and they contribute to the company's reputation as a responsible corporate citizen. Marriott's commitment to sustainable operations, community engagement, and ethical business practices demonstrates its dedication to social and environmental responsibility.

CSR: Marriott International has established strong policies and a track record regarding Corporate Social Responsibility (CSR) and corporate governance. The company is committed to conducting its business in an ethical and socially responsible manner, focusing on sustainability, diversity and inclusion, and community engagement.

Marriott's CSR initiatives are encompassed under its "Serve 360: Doing Good in Every Direction" platform. The company has set ambitious goals to reduce water usage by 15% and greenhouse gas emissions by 30% by 2025 (Marriott International, n.d.). It actively implements sustainable practices in its operations, including energy-efficient lighting and waste reduction measures (Marriott International, n.d.). Marriott's CSR efforts extend to community engagement, where it collaborates with local organizations for community development and disaster relief initiatives (Marriott International, n.d.).

In terms of Corporate Governance, Marriott adheres to best practices. The company has an independent Board of Directors responsible for decision-making on behalf of shareholders (Marriott International, n.d.). The Board includes committees overseeing audit, compensation, and governance matters, ensuring transparency and accountability.

Marriott's commitment to ethical and socially responsible behaviour is evident through its recognition and awards. The company has been named one of the world's most ethical companies by Ethisphere for five consecutive years, highlighting its commitment to integrity and ethical practices (Marriott International, 2021). Marriott has also been recognized for its diversity and inclusion initiatives, such as being listed among the "Best Workplaces for Diversity" by Fortune (Marriott International, 2021).

These policies and recognitions demonstrate that Marriott International behaves in an ethical and socially responsible manner by integrating sustainability, diversity, and community engagement into its business practices.

Strategic Analysis

Internal Analysis

Marriott International possesses a range of valuable resources, competences, and capabilities that contribute to its competitive advantage, particularly in an international context. By applying strategic management theories, we can evaluate the firm's strengths and areas of excellence.

Resources:

Physical Resources: Marriott owns and operates a vast portfolio of hotels and resorts worldwide, providing a physical infrastructure for its operations (Marriott International, 2021). This extensive network of properties strengthens the company's global presence and enables it to cater to diverse customer needs.

Human Resources: Marriott places great emphasis on its human capital, valuing a skilled and diverse workforce. The company invests in employee training and development programs to enhance service quality and guest satisfaction (Marriott International, 2021). Its talented and motivated workforce contributes to Marriott's success in delivering exceptional hospitality experiences.

Financial Resources: Marriott has a strong financial position, reflected in its annual revenues and profitability. Despite challenges faced during the COVID-19 pandemic, the company demonstrated resilience and maintained a solid balance sheet (Marriott International, 2021).

Competences and Capabilities:

Brand Reputation: Marriott is renowned for its strong brand portfolio, encompassing various hotel brands catering to different market segments (Marriott International, 2021). The company's brands are associated with quality, reliability, and exceptional customer experiences, enhancing its competitive position in the global hospitality industry.

Customer Loyalty: Marriott's loyalty program, Marriott Bonvoy, has a substantial membership base and plays a crucial role in driving customer loyalty (Marriott International, 2021). The program offers exclusive benefits, rewards, and personalized experiences, fostering long-term relationships with guests and enhancing customer retention.

International Expansion Expertise: Marriott has extensive experience and expertise in expanding its operations globally. The company has successfully entered and established a strong presence in diverse international markets, leveraging partnerships and acquisitions (Marriott International, 2021).

Competitive Advantage:

Marriott International's competitive advantage lies in its ability to deliver exceptional customer experiences through its strong brand reputation, customer loyalty program, and extensive international presence. The company's emphasis on quality service, employee training, and strategic partnerships contributes to its competitive positioning in the global hospitality industry.

Resources & core competences

To determine which resources, competences, and capabilities of Marriott International are threshold and distinctive, as well as to critically review the extent of its competitive advantage, a thorough analysis is required. The following analysis considers multiple perspectives and incorporates strategic management theories:

Physical Resources: Marriott International's physical resources include its extensive portfolio of hotels and resorts worldwide (Marriott International, 2021). These physical assets are essential for the company's operations and provide a basis for its competitive advantage. In an international context, the company's physical resources enable it to cater to diverse customer needs and expand its presence in various markets.

Threshold or Distinctive: Physical resources like hotels and resorts can be considered threshold resources since they are essential for Marriott's operations and entry into the hospitality industry (Barney, 1991).

Human Resources: Marriott emphasizes the value of its human resources, investing in training and development programs to enhance service quality and guest satisfaction (Marriott International, 2021). The company's skilled and diverse workforce contributes to its competitive advantage by delivering exceptional customer experiences.

Threshold or Distinctive: Human resources can be considered both threshold and distinctive resources. While a competent workforce is necessary for the company's operations, Marriott's emphasis on training and development sets it apart and contributes to its competitive advantage (Barney, 1991).

Financial Resources: Marriott International maintains a strong financial position, as evidenced by its annual revenues and profitability (Marriott International, 2021). The company's financial resources provide the necessary capital for investments, expansion, and innovation.

Threshold or Distinctive: Financial resources are generally considered threshold resources since they are essential for a firm's survival and operation in any industry (Barney, 1991). However, the strength of Marriott's financial resources, including its ability to weather the COVID-19 pandemic, can be seen as a distinctive capability that sets it apart from competitors.

Competences and Capabilities:

Marriott International possesses several competences and capabilities that contribute to its competitive advantage in an international context:

Brand Reputation: Marriott's strong brand reputation, built through its diverse portfolio of hotel brands, enhances customer trust and loyalty (Marriott International, 2021). This competence helps differentiate Marriott from competitors and attract customers globally.

Customer Loyalty Program: Marriott Bonvoy, the company's loyalty program, fosters customer retention and drives repeat business (Marriott International, 2021). This capability strengthens the company's competitive advantage by enhancing customer relationships and generating customer lifetime value.

International Expansion Expertise: Marriott's expertise in expanding its operations globally, through partnerships and acquisitions, enables it to effectively enter new markets and establish a strong international presence (Marriott International, 2021). This capability provides a competitive advantage by leveraging market opportunities and diversifying revenue streams.

Threshold or Distinctive: Competences and capabilities such as brand reputation, customer loyalty programs, and international expansion expertise can be considered distinctive since they differentiate Marriott from competitors and contribute significantly to its competitive advantage (Barney, 1991).

In conclusion, Marriott International's threshold resources, such as physical assets and financial resources, are crucial for its operations, while its distinctive resources and capabilities, including brand reputation, customer loyalty programs, and international expansion expertise, provide a competitive advantage in the global hospitality industry.

Organisation Performance

Marriott International's financial performance has been significantly impacted by the COVID-19 pandemic, resulting in declines in revenue and profitability in 2020 (Marriott International, 2021). The company has implemented measures to mitigate the pandemic's effects, including cost-cutting initiatives and strategic investments in new properties and brands.

Financial Performance:

Due to the pandemic, Marriott reported a 57% decline in revenue in 2020 compared to the previous year (Marriott International, 2021). It also experienced a net loss of $267 million in 2020, contrasting with a net income of $1.3 billion in 2019 (Marriott International, 2021). However, signs of recovery were observed in 2021, with an 11% increase in revenue in the first quarter compared to the same period in 2020 (Marriott International, 2021).

Comparison to Competitors:

Marriott faces strong competition from other major hotel chains such as Hilton Worldwide and InterContinental Hotels Group. In terms of financial performance, Marriott's revenue in 2020 was lower than both Hilton and InterContinental, although its net loss was smaller than Hilton's (Marriott International, 2021; Hilton Worldwide Holdings Inc., 2021; InterContinental Hotels Group PLC, 2021). It is important to consider the impact of the pandemic on the entire industry when comparing performance.

Strengths and Weaknesses:

Despite the challenges posed by the pandemic, Marriott International possesses strengths that position it for future success. These strengths include its strong brand and reputation for quality and service excellence, as well as its diverse portfolio of properties and brands. The company has also demonstrated adaptability by investing in new brands like Moxy and Edition.

However, the pandemic has revealed weaknesses in Marriott's business model, such as its reliance on international travel and the vulnerability of its franchise model to economic shocks. Additionally, the company faces ongoing challenges related to competition and regulatory environments in different markets.

Product & Services evaluation (VRIO Analysis)

Marriott International's products and services can be evaluated using the VRIO analysis framework, which assesses the company's resources and capabilities in terms of their value, rarity, inimitability, and organization.

In summary, the VRIO analysis suggests that Marriott International's products and services are a source of competitive advantage due to their high value, rarity, inimitability, and effective organization [Refer to appendices 7].

Value Chain

Marriott International possesses several factors that grant it a competitive advantage in the hospitality industry. Its strong brand reputation, extensive portfolio of properties and brands, operational efficiency, and investment in technology and data analytics contribute to its success (Marriott International, n.d.).

Marriott has built a solid brand reputation over time, earning recognition and awards for its exceptional service and customer satisfaction (Marriott International, n.d.). This positive perception attracts customers willing to pay a premium for Marriott's products and services.

The company's vast portfolio of properties and brands sets it apart from competitors, granting Marriott a competitive edge due to its scale and diversity (Marriott International, n.d.). This allows the company to cater to a wide range of customer preferences and capture a significant market share.

Marriott's operational efficiency is supported by its investment in technology and data analytics, enabling streamlined operations in areas such as booking, inventory management, and supply chain logistics (Marriott International, n.d.). This focus on efficiency helps reduce costs and enhance customer satisfaction.

Marriott's culture of innovation and continuous improvement further strengthens its competitive advantage by allowing the company to adapt to evolving market conditions and customer needs (Marriott International, n.d.). This proactive approach keeps Marriott ahead of its competitors.

By conducting a value chain analysis, Marriott can identify opportunities to reduce costs or add value in specific areas of its operations. For instance, optimizing inbound logistics through better supplier negotiations and inventory management can contribute to cost reduction. Additionally, investing in technology development to improve operational efficiency and enhance the customer experience can create additional value (Marriott International, n.d.).

In conclusion, Marriott International's competitive advantage stems from its strong brand reputation, diverse portfolio, operational efficiency, and commitment to innovation. These factors are challenging for competitors to replicate, providing Marriott with a sustainable advantage in the industry.

Organisation Culture

Marriott International boasts a distinctive and robust organizational culture that has evolved over time. The cultural web diagram effectively illustrates the key elements that shape the company's culture (Johnson, 2014).

Stories: The culture at Marriott is imbued with meaningful stories that exemplify its values and commitments. One prominent story is that of the "Spirit to Serve" program, which has become an integral part of the company's culture. Launched in the 1980s, this program empowers employees to surpass expectations and create memorable experiences for guests (Kotler et al., 2019).

Symbols: Symbols play a crucial role in reflecting Marriott's culture. The company's logo, with the distinctive "M" and crown, symbolizes its dedication to luxury and excellence. The interior design elements in Marriott properties, such as warm colours and comfortable furnishings, also embody the culture of comfort and hospitality (Kotler et al., 2019).

Power structures: Marriott's power structures are decentralized, granting decision-making authority to individual hotel managers. This decentralized approach fosters flexibility and adaptability to local market conditions (Kotler et al., 2019).

Control systems: To ensure operational effectiveness, Marriott employs a robust control system that emphasizes quality assurance. The Marriott Operating Standards serve as guidelines for maintaining the expected level of quality and service (Kotler et al., 2019).

Routines and rituals: Routines and rituals are integral to Marriott's culture. The daily "Line-Up" meetings, where employees discuss the day's events and address any issues, are a notable routine. Additionally, the "Spirit to Serve" program recognizes employees who go above and beyond (Kotler et al., 2019).

Overall, Marriott's culture revolves around delivering exceptional customer service and creating unforgettable guest experiences. This customer-centric culture has contributed to the company's strong position in the hospitality industry (Johnson, 2014).

However, like any organization, Marriott may need to consider cultural change to avoid strategic drift and remain responsive to evolving consumer preferences and industry trends (Johnson, 2014). Adjustments to power structures, control systems, and routines and rituals may be necessary to effectively adapt (Kotler et al., 2019).

External Environment Analysis

PEST/PESTEL analysis of the business environment in India: PEST/PESTEL analysis is a useful tool for analysing the macro-environmental factors that may impact the business of a company. Here is an analysis of the business environment for Marriott International in India:

In summary, India offers a mix of opportunities and challenges for businesses like Marriott International. The growing economy and consumer spending present expansion and growth prospects, but navigating political, legal, social, and environmental complexities is crucial [Refer to appendix 14]. Additionally, considering the impact of the COVID-19 pandemic on the Indian economy is essential when assessing the medium-term outlook.

Industry Environment

Porter's Five Forces framework provides a comprehensive analysis of the competitive dynamics and attractiveness of the hotel industry. The bargaining power of suppliers is low due to the availability of numerous suppliers and Marriott's ability to negotiate favourable prices (Porter, 2008). The bargaining power of buyers is moderate to high, but Marriott's strong brand reputation and loyal customer base help mitigate this power (Porter, 2008).

The threat of new entrants is moderate, with barriers such as capital investment and economies of scale, but partnerships and franchising agreements can facilitate entry (Porter, 2008). The threat of substitutes is high, as customers have various alternative accommodation options (Porter, 2008). However, Marriott has responded by introducing its own home-sharing service, Homes & Villas (Marriott International, 2021).

The intensity of competitive rivalry is high in the hotel industry, with major players like Hilton, InterContinental Hotels Group, and Accor competing for market share (Porter, 2008). Nevertheless, Marriott's strong brand reputation and market presence give it a competitive advantage (Marriott International, 2021).

The hotel industry overall is attractive due to steady demand and growth potential, but it is highly competitive (IBISWorld, 2022). Marriott's size, brand reputation, and loyal customer base contribute to its strong position in the industry (Marriott International, 2021).

Figure 1: Industry Environments

(Source: )

Marriott International faces fierce competition in the hospitality and lodging industry, contending with notable rivals such as Hilton Worldwide Holdings Inc., InterContinental Hotels Group PLC, Accor SA, Hyatt Hotels Corporation, and Wyndham Hotels & Resorts Inc. According to IBISWorld, Marriott International leads the global hotel industry with a market share of 7.7% in 2021. Hilton Worldwide Holdings Inc. and InterContinental Hotels Group PLC follow as the second and third largest players, with market shares of 3.5% and 2.6% respectively (IBISWorld, 2023).

In terms of financial performance, Marriott International has demonstrated robust growth, with revenue reaching $10.6 billion in 2020, marking a significant 61% increase since 2015. However, competitors such as Hilton Worldwide Holdings Inc. and Hyatt Hotels Corporation have also exhibited steady revenue growth during the same period (IBISWorld, 2023).

These findings emphasize that while Marriott International holds the top position in the global hotel industry and has achieved strong financial performance, it confronts substantial competition from other prominent industry players.

SWOT Analysis

Marriott International possesses strengths such as a strong brand reputation and global presence, but it faces weaknesses such as dependence on the US market and exposure to market disruptions. There are opportunities for growth through expansion into emerging markets and adapting to changing consumer trends. However, the company also faces threats from intense competition, alternative lodging options, and regulatory challenges [Refer to appendices 10].

TOWS Analysis

[Refer to appendix 11]

Business Strategy

Marriott International has a global business strategy aimed at expanding its presence worldwide through both organic growth and acquisitions. With a portfolio of 30 hotel brands and over 7,800 properties in 140 countries, the company strives to deliver exceptional customer service and experiences (Marriott International, 2021).

The analysis of Marriott's strengths, including its strong brand recognition, loyal customer base, and diverse portfolio of hotels, suggests that the company can pursue a differentiation strategy, offering unique experiences to its customers (Marriott International, 2021). However, the identified weaknesses, such as high debt levels and dependence on the US market, can be addressed through a cost leadership strategy, focusing on reducing costs and improving efficiency.

The opportunities presented, such as the increasing demand for travel and the growing middle class in emerging markets, can be leveraged by expanding Marriott's global presence and diversifying its portfolio to cater to different market segments (PwC, 2021). To counter the threats of intense competition and economic uncertainties, adopting a focused differentiation strategy that targets specific customer segments and provides tailored experiences can be beneficial (MarketLine, 2021).

Marriott International's business strategy can be classified as a differentiation strategy based on its focus on providing unique experiences to customers through its diverse range of hotel brands (Marriott International, 2021). However, considering the challenges of economic uncertainties and increasing competition, the company can also explore adopting a cost leadership strategy to enhance efficiency and reduce costs (Porter, 1980).

The Strategy Clock model suggests that Marriott can pursue a hybrid strategy by combining elements of both differentiation and cost leadership (Bowman, 1996). This approach would allow Marriott to maintain its competitive advantage through unique experiences while also improving operational efficiency and profitability.

In summary, Marriott's business strategy aligns with its corporate portfolio and aims to deliver exceptional customer experiences while expanding globally (Marriott International, 2021). However, it is important for the company to remain adaptable to industry trends and adopt a flexible approach to sustain competitiveness.

Corporate Strategy

Marriott International's corporate strategy revolves around brand diversification and expansion, as demonstrated by its extensive portfolio of hotel brands catering to different market segments (Marriott International, 2021). The acquisition of Starwood Hotels & Resorts Worldwide in 2016 further solidified the company's position as a leader in the hospitality industry.

Analysing the SWOT analysis, Marriott's strengths lie in its strong brand recognition, extensive property network, and efficient operational management (Marriott International, 2021). However, the company also faces weaknesses such as its dependence on the North American market and potential challenges related to labour and sustainability practices. Opportunities for Marriott include the growing trend of experiential travel and the increasing demand for sustainable and socially responsible practices. Conversely, threats to the company include intense competition, the impact of global economic conditions, and evolving consumer preferences.

To address these factors, Marriott should consider implementing a strategy that emphasizes brand differentiation and international market expansion. The Ansoff Matrix provides a valuable framework for understanding potential strategies for Marriott (Ansoff, 1957). The company can explore a combination of market penetration by capturing a larger share of existing markets, market development by expanding into new geographic markets, product development by introducing innovative offerings, and diversification by exploring new business segments.

In summary, Marriott International's corporate strategy focuses on brand diversification and expansion, with a strong emphasis on addressing changing consumer preferences and market trends (Marriott International, 2021). By leveraging the Ansoff Matrix, the company can pursue strategies that maximize its strengths, capitalize on opportunities, and mitigate threats in the dynamic hospitality industry.

Marriott International can pursue market penetration by focusing on customer loyalty programs and enhancing the customer experience to increase its market share in existing markets (Porter, 1980). By providing personalized services and strengthening customer relationships, Marriott can reinforce its position and attract repeat business (Marriott International, 2021).

In terms of market development, Marriott can expand its presence in emerging markets, particularly in Asia and Africa, by leveraging its existing products and expertise (Ansoff, 1957). This strategic move allows Marriott to tap into growing tourism demand and cater to the needs of new customer segments (Marriott International, 2021).

Product development can involve the introduction of new sustainable and environmentally responsible practices to meet the changing preferences of consumers who value eco-friendly options (Porter, 1980). Marriott can implement initiatives such as energy-efficient measures, waste reduction programs, and sustainable sourcing practices to differentiate its offerings and attract environmentally conscious customers (Marriott International, 2021).

Regarding diversification, Marriott can consider exploring new business segments such as vacation rentals or co-working spaces to expand its portfolio and reach (Ansoff, 1957). This diversification strategy allows Marriott to capitalize on emerging trends and capture additional revenue streams (Marriott International, 2021).

In summary, Marriott International's corporate strategy should encompass market penetration, market development, product development, and diversification strategies (Marriott International, 2021). By focusing on customer loyalty, expanding into emerging markets, introducing sustainable practices, and exploring new business segments, Marriott can maintain its competitive advantage and adapt to evolving market dynamics.

BCG Matrix Evaluation of Marriott International

The BCG matrix, developed by the Boston Consulting Group, is a strategic tool used to evaluate an organization's business units or products based on their market growth rate and relative market share (BCG, n.d.). In the context of Marriott International, the matrix can be applied to assess the performance of its hotel brands in different markets.

Marriott's Star brands can be classified as those with a high market share in high-growth markets, such as its luxury and upscale hotel brands in Asia and the Middle East. These brands have the potential for continued growth and success (Marriott International, 2021).

Cash Cow brands for Marriott would represent those with a high market share in low-growth markets. These are likely to be established brands in mature markets like the United States and Europe, which generate stable cash flows for the company (Marriott International, 2021).

Question Mark brands are characterized by low market share in high-growth markets. For Marriott, these brands may include new or emerging brands that are trying to establish themselves in rapidly growing markets, such as developing brands in emerging markets (Marriott International, 2021).

Finally, Dog brands are those with low market share in low-growth markets. These brands may struggle in mature markets or have failed to gain traction in new markets. Marriott may need to consider divesting or restructuring these brands to improve overall performance (Marriott International, 2021).

Based on the BCG matrix analysis, Marriott should prioritize investments in the Stars and Question Marks categories to capitalize on high-growth opportunities. This could involve expanding its successful luxury and upscale brands in Asia and the Middle East while investing in new brands to penetrate emerging markets (Marriott International, 2021).

Simultaneously, Marriott should consider divesting or restructuring its Dog brands that are underperforming in low-growth or mature markets. This may involve selling off properties or rebranding them under more successful brands (Marriott International, 2021).

The BCG matrix serves as a valuable tool for evaluating Marriott's hotel brands and identifying areas for investment and divestment based on market growth and market share.

International and Associated Network Strategy

Marriott International has a well-defined international strategy focused on establishing a strong presence in major tourist and business destinations worldwide (Marriott International, 2022). The company employs a combination of organic expansion and acquisitions to achieve global growth (Marriott International, 2022). Marriott's international strategy is based on forming partnerships with local developers and investors to open new hotels and resorts in strategic locations (Marriott International, 2022). This approach allows Marriott to leverage local expertise while maintaining control over brand quality (Marriott International, 2022).

The company's network strategy emphasizes building strong relationships with franchisees and partners, providing them with support and resources (Marriott International, 2022). Marriott has implemented a comprehensive training program to align franchisees and partners with the company's brand values and standards (Marriott International, 2022). This network strategy helps maintain consistency and quality across Marriott's global portfolio of hotels (Marriott International, 2022).

Marriott's international strategy has contributed to its strong growth and profitability in the global market, providing resilience during regional economic downturns (Marriott International, 2022). However, maintaining consistent quality standards and customer service can be challenging due to cultural, political, and economic differences across regions (Marriott International, 2022).

Overall, Marriott International's international strategy and network strategy have been instrumental in its success in the global market (Johnson et al., 2017). By establishing a strong local presence and fostering strong partnerships, Marriott has achieved growth and profitability while addressing challenges associated with global operations (Marriott International, 2022).

Marriott International currently employs a global standardization strategy, aiming to provide consistent experiences across its global properties to enhance its brand image and customer loyalty (Purnell, 2021). This strategy has been successful in establishing Marriott as a global leader in the hospitality industry. However, to remain competitive and adapt to diverse markets and changing consumer preferences, Marriott should consider transitioning to a transnational strategy that combines global standardization with local responsiveness (Purnell, 2021).

A transnational strategy would involve finding the right balance between maintaining consistency and adapting to local market conditions and customer preferences (Purnell, 2021). This approach would enable Marriott to leverage its global brand strength while tailoring its offerings to specific regional needs. To implement a transnational strategy effectively, Marriott would need to establish a global matrix organizational structure (Deresky, 2017). This structure would involve product, regional, and functional divisions working together to achieve common goals, facilitating coordination and communication across the organization.

By adopting a transnational strategy and implementing a global matrix organizational structure, Marriott can effectively navigate the challenges of global operations while capitalizing on its global brand strength and local market adaptability.

Evaluation

SAFe (Suitable, Acceptable and Feasible) criteria can be used to evaluate the proposed international strategy of Marriott International to enter the high-potential emerging market of India by expanding its luxury and premium brands [Refer to appendix 13].

Conclusion

Marriott International's strategy aligns well with its mission and vision, leveraging its strong brand recognition and diverse range of properties to cater to various customer segments (Marriott International, 2021). The company's focus on technology investment has allowed it to stay competitive and adapt to changing consumer preferences (Nauert, 2021). However, the COVID-19 pandemic has had a significant impact on Marriott International, leading to financial challenges and the need for cost-cutting measures (Marriott International, 2021).

To maintain a competitive advantage in the next five years, Marriott International should prioritize post-pandemic recovery and adapt to evolving customer needs (Reisinger, 2021). Continued investment in technology and the development of sustainable practices will be crucial to meet the demand for environmentally friendly accommodations (Reisinger, 2021). Additionally, expanding its presence in emerging markets, particularly in Asia and Africa, and leveraging its loyalty program, Marriott Bonvoy, can present growth opportunities (Marriott International, 2021).

In conclusion, Marriott International's strategy has enabled it to maintain a strong market position, but it must remain adaptable to changing customer needs and overcome external challenges to sustain its competitive advantage (Marriott International, 2021).

References

Journal

Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.

Ansoff, H. I. (1957). Strategies for Diversification. Harvard Business Review, 35(5), 113-124.

Barney, J. B. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99-120.

Barney, J. B., & Hesterly, W. S. (2015). Strategic management and competitive advantage: Concepts and cases. Pearson.

Bowman, C. (1996). The Strategy Clock: A Model of Competitive Advantage. Journal of Marketing Management, 12(6), 417-429.

Cappelli, P., & Keller, J. R. (2014). Talent management: Conceptual approaches and practical challenges. Annual Review of Organizational Psychology and Organizational Behaviour, 1(1), 305-331.

Central Intelligence Agency. (2022). The World Factbook: India. Retrieved from https://www.cia.gov/the-world-factbook/countries/india/

Deresky, H. (2017). International management: Managing across borders and cultures. Pearson.

Government of India. (2021). Ministry of Finance. Retrieved from https://www.finmin.nic.in/

Gupta, D., & Sharma, R. R. (2019). Corporate finance and strategy. Pearson.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic management: concepts and cases: competitiveness and globalization. Boston, MA: Cengage Learning.

Johnson, G. (2014). Exploring Strategy: Text and Cases. Pearson Education Limited.

Johnson, G., Whittington, R., Scholes, K., Angwin, D., & Regner, P. (2017). Exploring strategy: text and cases (11th ed.). Pearson.

Kapoor, S., & Rathi, N. (2016). Competing through employee engagement: A proposed model. International Journal of Business and Management, 11(10), 242-254.

Kimes, S. E., & Wirtz, J. (2003). The moderating role of perceived appropriateness of servicescape elements. Journal of Service Research, 5(3), 237-249. doi: 10.1177/1094670502238911

Kotler, P., Bowen, J. T., Makens, J. C., & Baloglu, S. (2017). Marketing for hospitality and tourism. Pearson.

Kotler, P., Bowen, J. T., Makens, J., & Baloglu, S. (2019). Marketing for Hospitality and Tourism (7th ed.). Pearson.

Porter, M. E. (1980). Competitive Strategy: Techniques for Analysing Industries and Competitors. New York: Free Press.

Porter, M. E. (1980). Competitive Strategy: Techniques for Analysing Industries and Competitors. Free Press.

Porter, M. E. (2008). The Five Competitive Forces That Shape Strategy. Harvard Business Review, 86(1), 78-93.

Powers, T. L. (2020). Organizational Behaviour in the Hospitality Industry. Routledge.

Website

Marriott International. (2021). About Marriott. Retrieved from https://www.marriott.com/about/about-marriott.mi

Marriott International. (n.d.). About Marriott. Retrieved from https://www.marriott.com/about/about-marriott.mi

Hilton Worldwide Holdings Inc. (2021). Form 10-K for the fiscal year ended December 31, 2020. Retrieved from https://otp.tools.investis.com/clients/us/hilton_worldwide2/sec/sec-show.aspx?FilingId=14658062&Cik=0001585689&Type=PDF&hasPdf=1

Boston Consulting Group. (n.d.). How to use the BCG matrix. Retrieved from https://www.bcg.com/en-us/about/our-approach/how-to-use-bcg-matrix.aspx

macrotrends, 2023. About. https://www.macrotrends.net/stocks/charts/MAR/marriott/financial-statements

IBISWorld. (2022). Global Hotels & Resorts. Retrieved from https://www.ibisworld.com/global/market-research-reports/global-hotels-resorts-industry/

IBISWorld. (Year). Global Hotels & Resorts. Retrieved from https://www.ibisworld.com/global/market-research-reports/global-hotels-resorts-industry/

InterContinental Hotels Group PLC. (2021). Annual Report and Form 20-F 2020. Retrieved from https://www.ihgplc.com/~/media/Files/I/Intercontinental-Hotels/Annual-Reports/2020-annual-report-and-form-20f.pdf

International Monetary Fund. (2022). World Economic Outlook Database, April 2022 Edition. Retrieved from https://www.imf.org/external/pubs/ft/weo/2022/01/weodata/index.aspx

Transparency International. (2021). Corruption Perceptions Index 2020. Retrieved from https://www.transparency.org/en/cpi/2020/index/nzl

MarketLine (2021). Company Profile: Marriott International, Inc. Retrieved from https://advantage.marketline.com/Product?pid=MLIP1244-0029

Marriott International (2021). 2020 Annual Report. Retrieved from https://marriott.gcs-web.com/static-files/8d2f4c08-438e-4a2d-8dd8-54c5cb4bd5b5

Marriott International. (2021). 2020 Annual Report. Retrieved from https://marriott.gcs-web.com/static-files/f36e6477-2e39-4cc9-978d-6b3a30b78162

Marriott International. (2021). 2020 Annual Report. Retrieved from https://www.marriott.com/marriott-2020-annual-report.pdf

Marriott International. (2021). About Marriott. Retrieved from https://www.marriott.com/about/default.mi

Marriott International. (2021). Annual Report 2020. Retrieved from https://investor.marriott.com/static-files/8794cc7b-9d1e-4fdd-92e3-1f47a986ce20

Marriott International. (2021). Annual Report 2020. Retrieved from https://marriott.gcs-web.com/search?query=Annual+Report+2020&op=Search

Marriott International. (2021). Awards & Recognition. Retrieved from https://www.marriott.com/about/awards.mi

Marriott International. (2021). Corporate Governance. Retrieved from https://marriott.gcs-web.com/corporate-governance

Marriott International. (2021). Marriott International Named One of the World's Most Ethical Companies for 13th Year. Retrieved from https://marriott.gcs-web.com/news-releases/news-release-details/marriott-international-named-one-worlds-most-ethical-companies

Marriott International. (2021). Marriott International Recognized as One of World's Most Ethical Companies for Fifth Consecutive Year. Retrieved from https://news.marriott.com/news/2021/02/23/marriott-international-recognized-as-one-of-worlds-most-ethical-companies-for-fifth-consecutive-year

Marriott International. (2021). Marriott International Reports First Quarter 202

Marriott International. (2021). Marriott International Reports First Quarter 2021 Results. Retrieved from https://www.marriott.com/marriott/newsroom/press-release.mi?id=3191521

Marriott International. (2021). Our Brands. Retrieved from https://www.marriott.com/marriott-brands.mi

Marriott International. (2021). Sustainability & Social Impact Report. Retrieved from https://www.marriott.com/docs/default-source/corporate-documents/marriott-international-sustainability-social-impact-report.pdf

Marriott International. (2022). 2021 Annual Report. Retrieved from https://s1.q4cdn.com/687287808/files/doc_financials/2021/ar/Marriott-2021-Annual-Report.pdf

Marriott International. (2022). Corporate Overview. Retrieved from https://marriott.gcs-web.com/static-files/7d3d10b9-6d77-4575-a7d4-82d58d68bb22

Marriott International. (n.d.). About Marriott. Retrieved from https://www.marriott.com/about/about-marriott.mi

Marriott International. (n.d.). Corporate Overview. Retrieved from https://marriott.gcs-web.com/static-files/7d3d10b9-6d77-4575-a7d4-82d58d68bb22

Marriott International. (n.d.). Corporate Social Responsibility. Retrieved from https://www.marriott.com/about/corporate-social-responsibility.mi

Marriott International. (n.d.). Our Brands. Retrieved from https://www.marriott.com/marriott-brands.mi

Marriott International. (n.d.). Our Company. Retrieved from https://www.marriott.com/about/about-marriott.mi

Marriott International. (n.d.). Serve 360: Doing Good in Every Direction. Retrieved from https://serve360.marriott.com/

Nauert, R. (2021, May 11). Marriott International Is Innovating to Meet Evolving Guest Expectations. Hospitality Net. Retrieved from https://www.hospitalitynet.org/news/4103262.html

Purnell, B. (2021). Marriott's Global Marketing Strategy: The Secret Sauce. HospitalityNet. Retrieved from https://www.hospitalitynet.org/opinion/4101529.html

PwC (2021). Global Hospitality Insights: Top Thoughts for 2021. Retrieved from https://www.pwc.com/us/en/services/hospitality-leisure/library/global-hospitality-insights.html

PwC India. (2019). Indian Luxury Hotel Market: Future Trends and Opportunities. Retrieved from https://www.pwc.in/assets/pdfs/publications/2019/indian-luxury-hotel-market-future-trends-and-opportunities.pdf

Reisinger, D. (2021, April 30). Marriott CEO: The future of travel will be cleaner, smarter and more focused on sustainability. CNBC. Retrieved from https://www.cnbc.com/2021/04/30/marriott-ceo-the-future-of-travel-will-be-cleaner-and-smarter.html

World Bank. (2021). World Bank Open Data: India. Retrieved from https://data.worldbank.org/country/india

Yahoo Finance. (2021). Institutional Holdings. Retrieved from https://finance.yahoo.com/quote/MAR/holders/

Yahoo Finance. (n.d.). Marriott International, Inc. (MAR). Retrieved from https://finance.yahoo.com/quote/MAR/history/

Yahoo Finance. (n.d.a). Historical Data: Marriott International, Inc. - 2016. Retrieved from https://finance.yahoo.com/quote/MAR/history?p=MAR&.tclass="lazy" data-src=fin-srch

Yahoo Finance. (n.d.b). Historical Data: Marriott International, Inc. - 2017. Retrieved from https://finance.yahoo.com/quote/MAR/history?p=MAR&.tclass="lazy" data-src=fin-srch

Yahoo Finance. (n.d.c). Historical Data: Marriott International, Inc. - 2018. Retrieved from https://finance.yahoo.com/quote/MAR/history?p=MAR&.tclass="lazy" data-src=fin-srch

Yahoo Finance. (n.d.d). Historical Data: Marriott International, Inc. - 2019. Retrieved from https://finance.yahoo.com/quote/MAR/history?p=MAR&.tclass="lazy" data-src=fin-srch

Yahoo Finance. (n.d.e). Historical Data: Marriott International, Inc. - 2020. Retrieved from https://finance.yahoo.com/quote/MAR/history?p=MAR&.tclass="lazy" data-src=fin-srch

Yahoo Finance. (n.d.f). Historical Data: Marriott International, Inc. - 2021. Retrieved from https://finance.yahoo.com/quote/MAR/history?p=MAR&.tclass="lazy" data-src=fin-srch Original source: https://studycrumb.com/alphabetizer