Savoy hotel Essay Example | Topics and Well Written Essays - 4000 words

Savoy hotel - Essay Example This is one of the lowest global corporate tax rates giving the business additional capital to recapture the costs of renovation and expand service offerings. The UK Value Added Tax (VAT) increased from 17.5 percent to 20 percent since the Savoy closed and completed its reconstruction, this increased taxation rate is reflected in the pricing structure at the Savoy (Fairmont Hotel & Resorts 2013). Savoy must now retain 20% to comply with this legislation. Economic Forces The UK Consumer Price Index indicates rising prices for consumers at an inflating rate of 2.7 percent. Impacted products experiencing the highest inflation include fruits, bread, cereals and utilities (Peston 2012). This has implications for rising costs in the Savoy supply chain. The government is actively establishing a variety of austerity packages and making cuts in order to prevent a return to recession. Driving down the national interest rate impacts the wealth management portfolios of important target consumers . The Euro continues to gain against the British Pound, creating a favourable exchange opportunity for Savoy’s European clients. Social Forces Schiffman and Kanuk (2010) identifies that consumers often rely on first impressions and stereotypes when determining future repurchase intentions. This has implications for Savoy in terms of providing a positive servicescape and ensuring helpful and constructive initial impressions when working with guests. Growth in utilisation of the Internet continues in the UK, with many consumers using mobile technologies to access the Internet and social media (Arthur 2012). Mobile internet technologies becoming a significant part of lifestyle and social behaviour. Technological New consolidated technologies that facilitate more effective guest messaging and booking systems are now available for Savoy. Known as Adaptive Messaging, this technology has the ability to properly queue guest messages and retrieve all guest messages effectively in an e nvironment that fields approximately 1,000 telephone calls daily (NMS Adaptive 2005). Technologies are also available that support the ability to sustain self-owned internal power systems that reduce reliance on the national grid and save financial resources. This provides opportunities for gaining a better reputation in areas of corporate social responsibility. Legal Booking systems online that require electronic signatures from customers serve as binding, legal contracts. New 2012 legislation now forces companies that use cookies when consumers are utilising a business’ website to gain permission before placing cookies (BBC News 2012). This has significant implications for data mining and tracking consumer behaviour. Environmental Hybrid vehicles are gaining prominence with many consumer markets that care about environmental sustainability. Savoy offers transport for many guests to airports or local commercial centres. Technologies are now available for businesses to recycl e paper products and even food waste for transformation into biofuels. This, too, has implications for Savoy in maintaining a positive CSR reputation. 1.2 SWOT Analysis Strengths A very strong brand identity/reputation stemming from respected operations in the UK since 1889 Diversity of food and beverage services providing unique themes and performances to enhance guest stay The Savoy Cocktail Book illustrates the brand

Leadership and governance Essay Example | Topics and Well Written Essays - 2000 words

Leadership and governance - Essay Example Since the leaders tend to build a group of followers as they set their ideologies, the paper also looks at the characteristics of followers and what their role should be in ensuring that they participate in the organizations’ governance and aide in the achievement of the set goals. The actions of the leaders in governing the organization will mean the difference between the success and the failure of the organization. Due to this fact, the characteristics of good leaders and the management skills that should be applied in governance have been addressed in the paper. The roles f different people in an organization have been discussed in the paper. Among those include the role of executives, managers and other leaders in the organizations. Some of their roles overlap like overseeing the general performance of the organization. Their different roles will therefore be explained in details and what is expected from them both by their subordinates and the organization. Leaders have the responsibility to ensure that an organization succeeds in achieving oits set goals and follow the plans that have been put underway. This paper addresses the relationship between leadership and governance and the roles of different people in an organization in trying to achieve the goals set by the organization. The people in leadership positions have more than a responsibility to lead the organization. They are the role models who set the pace for all the other workers in the organization and help to show them the vision of the organization and strategies that should be used to actualize the vision. This is done by practicing good governance and setting up plans and strategies that can be actualized. The leaders have the role of uniting and motivating the workers in an organization. If they fail in this fundamental role then that could mean the failure of the whole organization in