Hilton's Strategic Plan
This is a followed up assignment, please assign me the same writer.
please take a look at the sample, then use the previous two papers and follow the instruction to write this order, Thank you!
The document should be single-spaced. Use footnotes for your citations.
Using the data in the first two parts of this assignment, develop a five-year strategic plan for the organization, including five-year pro-forma financial statements. Also include an action plan for implementing the strategic plan.
Topics covered in the Strategic Plan include:
- Title page
- Table of contents
- Executive summary
- Vision and Mission
- External Environment Analysis
- Internal Environmental Analysis
- Market Analysis
- Positioning organization in the marketplace
- Long-term goals/objectives
- Strategic options, analysis, & choices made
- Action Plan
- Measure and evaluation of performance
- Five-year pro-forma operating budget
(Please only work on the highlight parts)
For the vision and mission section you should develop your own vision and mission statements for the company.
The information you provide in the sections of this report for the External Analysis, the Internal Analysis, and the Market Analysis will largely be a summary from the Part 1 & Part 2 reports you wrote earlier. From the “positioning the organization in the marketplace” section onward is really the substance of your strategic plan.
In the long-term goals/objectives section of the plan, you need to outline 3-5 key goals/objectives that you would like to see the organization accomplish over the next five years
In the strategic options and choices section, you need to propose several potential strategies that could help the organization meet all of its goals/objectives. Begin by briefly explaining each strategic option, then analyse each strategic option by outlining the pros and cons of choosing this option. Finally, out of the list of strategic options you have outlined, you need to choose which of these options you are planning to implement over the next five years, which will allow you to best achieve the goals/objectives of the company.
Please Note: The two questions any board of directors is going to ask about the strategic options are: 1) “How much will this cost?”; and 2) “How much money will we make if we go forward with this strategy?”. Make sure you address these two questions!
The action plan outlines briefly how you plan on implementing the strategic choices you have made over the next five years.
The measurement section describes how you intend to measure your progression in achieving the goals and objectives you have outlined previously.
The five-year pro-forma budget is basically an income statement for five sequential years moving forward.
Please note: Online sources like Baidu, UKEssays, and other similar sites are unacceptable resources, as they largely contain papers that were written by students for other universities. These sites are also used by companies and people who write papers for students for money. Using these sites will open you up to accusations of plagiarism (for not properly citing your sources) and academic dishonesty (for using another student’s work). Both of these are very serious offenses at the graduate level, which can result in you getting zero for the paper, and potentially failing the course if this persists. Be very careful about this!
Strategic Plan
1. New Vision & Mission
Hilton’s existing mission and vision statements are as follows:
Mission statement: “To be the most hospitable company in the world – by creating heartfelt experiences for Guests, meaningful opportunities for Team Members, high value for Owners and a positive impact in our communities.”
There are a few problems with Hilton’s mission statement:
* It appears vague. There is no clarity on what customers will get by associating themselves with Hilton.
* Fails to distinguish Hilton from other organizations in the industry. Every organization in the hospitality industry aspires to be the most hospitable. The question is how exactly Hilton is seeking to achieve this and maintain its lead over competitors.
* Too brief. The mission statement appears to be trying to squeeze a lot of information into only two lines. If it is to capture the essence of Hilton and its magnificence, it ought to be longer.
Vision statement: “To fill the earth with the light and warmth of hospitality.”
A few issues emerge with Hilton’s vision statement as well:
* Too vague. Someone can easily ask what Hilton means when they say their desire is to ‘fill the earth with the light and warmth of hospitality.’ This statement appears too cliché and sounds clever yet without any meaningful message being passed.
* Does not align with the mission statement. Alignment with the mission statement is a key aspect of a vision statement. Aligning the two shows unity of purpose, but in Hilton’s case, the two appear to have a different message.
The issues identified above deem the mission and vision statements of Hilton wanting. Therefore, below are the proposed mission and vision statements.
Alternative mission statement:
To offer customers unforgettable experiences supplemented by an ambiance that oozes excellence, impeccable service, and unmatched cuisines that far exceeds expectations. We seek to embody the phrase ‘memories maketh the man.’ Moreover, we value relationships and consider our staff members the most important component of our unit. We endeavor to improve and take it as a challenge to consistently improve and champion a better society.
The ...
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