Relationships Between Vision Mission And Objectives Commerce Essay
|✅ Paper Type: Free Essay||✅ Subject: Commerce|
|✅ Wordcount: 2774 words||✅ Published: 1st Jan 2015|
From the vision and mission of Shangri-La Hotel, we know that Robert Kuok was concerned about the customers. He would like to delight each customer for every time the customer visit the Shangri-La Hotel. From the mission statement, Shangri-La Hotel is trying to make the entire customer feel happy and satisfy. However, Robert Kuok also knows that besides the customer, employees, shareholder or business partner also important. This point we can see from the vision statement where Robert Kuok is mention it. He also cares about the employees because he hopes that all the employees can show the perfect work performance. Since the Shangri-La provided a service to customer and without a good work performance, the customers were not satisfied. This reason might cause a bad image.
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As a result, there will be less and less customers come to Shangri-La Hotel. Without good employees, an organization is hard to have any improvement or changes. Therefore, Robert Kuok was concerned this problem and would like to avoid it happen. As a result, Shangri-La hotel is provide the best service to the customers and the employees were provide the best work performance all the time moreover Shangri-La Hotel could achieve their objective easily. When Shangri-La Hotel is maintain the vision this can help them to achieve their mission. This is because good employees can ensure that the way to delight each customers for every time they visit. Vision is more like a tool to ensure that the mission and objective is being achieved. There are relationship between vision, mission and objective.
Task 2 (Loc 1: Ac 2)
Considering the benefits to stakeholders is an integral part of the company’s existence. Briefly explain the importance of stakeholder analysis to (SKL).
2.0 Definition of stakeholder
Stakeholder can be defined as person, group or organization that has direct or indirect stake in an organization because it can affect or be an affected by the organization’s actions, objectives and policies. Key stakeholders in a business organization include creditors, customers, directors, employees, government (and its agencies), owners (shareholder), suppliers, unions, and the community from which the business draws its resources. Although stake-holding is usually self-legitimizing, all stakeholders are not equal and different stakeholders are entitled to different considerations.
Stakeholder can defined as a party with an interest in an organisation, e.g. employees, customers, suppliers or the local community. This is due to the effect that the organisations activities will have on them, although they are a “third party” in that they are outside of the organisation. It can also be used to describe people who will be affected by a project, or who can influence it, but who are not directly involved in doing the work.
Stakeholders are an integral part of a project. They are the end-users or clients, the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of your completed project. It is extremely important to involve stakeholders in all phases of your project for two reasons: Firstly, experience shows that their involvement in the project significantly increases your chances of success by building in a self-correcting feedback loop; secondly, involving them in your project builds confidence in your product and will greatly ease its acceptance in your target audience. There are different types of stakeholders and each type should be handled differently.
2.1 Definition of stakeholder analysis
The definition of stakeholder analysis is means managerial step taken to identify each stakeholder’s level of interest or involvement in a given project and how that involvement can influence the project. Based on this analysis, project managers may alter how a project will be executed or decide the necessary steps that must be taken in order to limit a stakeholder’s influence over the project.
The first step in stakeholder analysis is identifying major stakeholder groups. The groups of stakeholder who will be affected either direct or indirect by or have an effect on the firm’s strategy and its execution can run the scope from employees to customers. In Shangri-La Hotel, director, business partner and investor is playing an important characteristic because their decisions can affect the whole organization performance. They are very influence stakeholder for Shangri-La Hotel. For example, if one of the employees is not performing well it is not affect the Shangri-La Hotel much but if an investor is stop invest in Shangri-La Hotel or director is making a small mistake of making a decision. This might direct influence the Shangri-La Hotel if the problem is serious.
2.2 The importance of stakeholder
Why are the stakeholders such important to Shangri-La Hotel? As we all know that, customer, supplier, worker is part of the stakeholders of Shangri-La Hotel. Below are shown explanation about the importance of stakeholder.
Customers are important to Shangri-La Hotel this is because if the customers of Shangri-La Hotel is feel satisfy with the service that provided by the Hotel it means that, the customer will automatically become the promotion of the hotel. Robert Kuok knows that customer’s satisfaction is one of the main reasons that he could get for more customers. Customer was part of tool to help the Shangri-La Hotel promote; in the other word, when the customer feel satisfy with the Hotel they will mention to their friends and family. This kind of mouth-to-mouth promote is much better than an advertisement thus, it doesn’t use any cost. There will generate more new customers within this kind of promotion and at the same time royal customers will exist too.
Supplier was one of the stakeholders which can influence the Shangri-La Hotel. Why is supplier important to Shangri-La Hotel? Is can be explain as Shangri-La Hotel is provided services which means the quality of raw material which supply by the supplier is important and must high quality so that Shangri-La Hotel is provided a good quality services to customers. However, the supplier should deliver the raw material in time so that the Shangri-La Hotel had enough time to produce. Shangri-La Hotel is included provide food in restaurant and service of hotel. Hotel is a place that needs to renew all the stuff inside the room everyday example, towel, mattress, shampoo, and so on. This all material is needed every day by the hotel in other to provide a good service to the customer. Moreover, the restaurant also needs a good supplier to supply fresh food to the hotel. Without a fresh food, the restaurant can’t provide a good quality food to the customer. As a result, supplier is important to Shangri-La Hotel and without a good supplier it can direct effect or influence the performance of Shangri-La Hotel.
The last part is Workers. As all know that, workers in an organization are playing an important characteristic which is help the organization to move forward and achieve the goal. So as Shangri-La Hotel, workers are important because if an organization is without any workers, the organization is considered as not functioning. The ability of the workers also can influence the performance of the Shangri-La hotel because the good workers will help the organization to achieve the objective or goals. However, there are not all workers is perform well in their work. This kind of workers should give some advised and hope they will change through the counselling. A good worker is influence the performance of Shangri-La Hotel.
2.3 Mapping of Stakeholder
Task 3 (Loc 1: Ac 3)
Identify and briefly the terms “organizational audit” and “environmental audit”. Select two internal and two external factors to SKL. Explain how you would conduct an audit for these.
3.0 Definition of audit
The audit is means by which a company can understand how it relates to the environment in which it operates. It is the means by which a company can identify its own strengths and weaknesses as they relate to external opportunities and threats. It is thus a way of helping management to select a position in that environment based on known factors. (McDonald, 1989, p21)
3.1 Organizational Audit
Organizational Audit was also known as internal audit. Internal audit get information from management, marketing, financial/accounting, production/operations, research & development, and management information systems. I am going to explain about two internal audit factors to Shangri-La Hotel. First, I would like to explain about management. In Shangri-La Hotel, management is one of the tools to manage the whole organization move forward. Besides that, management function consists of planning, organizing, motivation, controlling and also leading. This all element is very important to for a manager to manage the organization. Example, Shangri-La Hotel chairman, Edward Kuok Khoon Loong should know well about the element of management so that the workers will be more effective and efficient.
Furthermore, the second internal factors need to be explain is marketing which also playing an important role for the Shangri-La Hotel. Without a good marketing department, Shangri-La Hotel can’t organize with properly and this will influence the performance. A marketing department of Shangri-La Hotel is needed to plan for more promotion or advertisement about the hotel so that there are more people know about the hotel. Besides that, the hotel needed to implement about the marketing strategies so they can maintain in a high level of performance.
3.2 Environmental Audit
Environmental audit was also known as external audit. In external audit I am choosing two external factors to Shangri-La Hotel. The first external audit is supplier. Supplier is able to audit an organization because an organization is needs the supplier to supply the ingredient, material or product needed by particular organization. Example, Shangri-La Hotel’s supplier was make a mistake on supply wrong material or wrong amount this will direct effected the performance of the day. However, Shangri-La Hotel has to be careful in choosing a good supplier. First of all, they have to identify the supplier after that evaluate about the supplier next is deciding to choose which supplier. As a result, good supplier is making a profit to an organization.
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The second external audit is government where playing an important role too; this is because government is able to control the Shangri-La Hotel before they want to make any event or planning. Example, Shangri-La Hotel had to apply and get the license on the business first before they start any planning or construction. Moreover, government will have to check the Shangri-La Hotel’s operation make sure that there is no illegal thing happen. The government is the way prevents the illegal thing happen. Besides that, when the government had to make any meeting or any event with other country they could choose Shangri-La Hotel as the place to operate the entire event. As the result, government is a good external audit to Shangri-La Hotel.
Task 4 (Loc 1: Ac 4)
Select and explain two strategic positioning techniques that you would propose to SKL.
4. 0 Definition of positioning
Positioning is refer to the development of a distinct image for the product or service in the mind of the consumer, an image that will differentiate the offering from competing ones and squarely communicate to the target audience that the particular product or service will fulfill their needs better than competing brands. (Leon G S. and Leslie L.K 2007, pg 7)
4.1 Strategies Positioning
There are few strategic of positioning which consists of product, service, location and image and I would like to explain two type strategic of positioning which is service and location.
Shangri-La Hotel desires to develop a distinct image for the service in the mind of customers. The first step is Shangri-La Hotel should determine about the service quality of the hotel, thus hotel image is good and the customer will come back again. Other than that, Shangri-La Hotel also need to provide a good service in all concept which included helping the customers take luggage to the room, when customer is calling for customer service Shangri-La Hotel should fulfill all the demand required from the customers. In the other word the positioning can be improve by more value for more price.
Location of Shangri-La Hotel is a good strategic place for business. From the map we can see that there is much other company such as shopping mall, kl tower, and big company and so on. With this strategy place, Shangri-La Hotel will easy to get more customers because if the tourist come to Malaysia they will choose Shangri-La Hotel since this hotel is near to go everywhere. Moreover, the workers of the other company will come to Shangri-La hotel to having a breakfast, lunch, tea time, or dinner because Shangri-La Hotel is provide restaurant. Other than that, if the client of the other company which is near to Shangri-La Hotel where they come from other country, they will choose to stay at Shangri-La Hotel. It is because the location is near the company and it’s providing a high quality service.
Task 5 (Loc 2: Ac 1)
Design and explain the steps in strategies planning process. Please use diagrams if necessary.
5.0 Steps strategies planning process
VISION AND MISSION
FORMULATION LONG TERM OBJECTIVE
GENERATE, EVALUATE, SELECT STRATEGIES
IMPLEMENT STRATEGIES MANAGEMENT ISSUES
IMPLEMENT STRATEGIES MARKETING, FINENCE, ACCOUNT, R & D, CIS
MEASURE & EVALUATE PERFORMANCE.
5.1 Explanation of strategies planning process
Step 1- Vision and Mission
The mission statement describes the company’s business vision which including the unchanging values and purpose of the firm and forward-looking visionary goals that guide the pursuit of future opportunities. The company guided by the business vision, the firm’s leaders can define measurable financial and strategic objectives. Financial objectives involve measures such as sales targets and earnings growth. Strategic objectives are related to the firm’s business position, and may include measures such as market share and reputation.Step 2- Formulation Long Term Objective
Performance goals of an organization, intended to be achieved over a period of five years or more. Long-term objectives usually include specific improvements in the organization’s competitive position, technology leadership, profitability, return on investment, employee relations and productivity, and corporate image.
Step 3- Generate, Evaluate, select Strategies.
In this step may apply to develop some important key which potential strategies to deal with the organization’s objectives. Other than that, in this step also need to evaluate some potential strategies. The last part is to select the some potential strategies and every one of them is important.
Step 4 – Implement strategies management issues
There are numerous company was failed to realize its complete potential of its strategies was due to some weak implementation. In this step the company have to implement the potential strategies to develop.
Step 5- Implement Strategies Marketing, Finance, Account, R&D, CIS
Very often, management team assigned selected strategies to key personnel and left it to the individual to carry out the task.
Step 6- Measure & Evaluate Performance
The last step is the motive of accomplishment factors for an efficient strategy operation is constant review of its development and needs to makes decision for any difference to plan.
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