Respond to the questions below either agreeing or stating a different point of view. this is someones journal entry point of view. your basically critiquing there work. please have at least 2-3 sentences for each question.
Using the concept of Competencies, what do you learn about Good Hotel that is important to strategy creation for them?
Good Hotel’s, core competency was important to reinventing themselves using a business strategy in attracting environmentally conscious customers. Using a doing good for the planet philosophy, customer experience, and very reasonable rates; Good Hotel’s strategy built its reputation with its customers. This strategy earned Good Hotel with the cliché “hotel with a conscience.” Another competency used by Good Hotel was RevPar to calculate occupancies as well as adjust room rates accordingly.
Using the concept of Balanced Scorecard, what do you learn about Good Hotel that is important to strategy creation for them?
The hotel industry was recovering from a low economy and less travel by corporations and conventions. During this time hotel’s revenues were steadily increasing during the transition of Good Hotel. All the hotels in the San Francisco area had realized the importance of leaving little to no footprint on the environment as well as having the credentials as proof. To do this Leadership in Energy and Environmental Design (LEED) and Lifestyles of Health and Stability (LOHAS) were necessary certifications to achieve for most hotels not only in San Francisco but the US. By attaining these certifications, this would have a sizable market draw from health and environmental conservative customers. The employee side of the scorecard was to educate and train the staff in safety and green programs, in the likeliness a customer had question in regards to the recycled hotel materials. Additionally, the hotel did not advertise, their vision was more philanthropy based by word of mouth. Social media and reviews online were the main source of advertisement.
Using the concept of Evaluation of Speed As a Competitive Advantage, what do you learn about Good Hotel that is important to strategy creation for them?
Good Hotel’s competitive advantage was strong brand recognition. By establishing themselves as a “hotel with conscience” and achieving the LEED and LOHAS certifications, their name was recognized as excellence for the environment as well as great customer service at a suitable price. In Good Hotel’s case evaluation of speed was not deeply related to their business approach. Speed might have been used to evaluate the capital of travelers and customers utilizing the hotel by attaining statistics of its customers and utilizing RevPAR.
Using the concept of BCG Growth Share Matrix, what do you learn about Good Hotel that is important to strategy creation for them?
Good Hotel still thrives on its environmental philosophy, today their website quotes, “Dedicated to the philosophy embraced by Renew, Reuse, Relax.” Good Hotel’s rooms go for $111 a night and have had a steady percentage increase in market sales. I was unable to find what their stock is valued at. I would have to guesstimate and say they are a Cash Cow business, because they have a valued reputation in a low-growth market/industry. I presume they could also be in the Dog area, due to small research I conducted hotels seemingly are low market shares with low market growth. Currently, air bread and breakfasts seem to be more attractive for today’s travelers.
Question answered on Apr 12, 2020
Solution~00041147682189.zip (18.37 KB)
Question answered on Apr 12, 2020