The paper 'Managing Resources within a Changing Economic Climate' is a wonderful example of a Management Case Study. One sector that has received plenty of attention in the recent past and that more research is also being carried out in order to ascertain the needs of this lucrative industry is the hospitality industry. Most businesses in this industry have fetched a lot of revenue and foreign exchange because of the needs of humankind at the moment that center mostly on leisure, food, and accommodation. As more people move around the world in search of education, to set up their companies through globalization, to study, for tourism purposes, etc.
the need to tap the money used for such requirements through the hospitality industry is palpable. Modern businesses are faced with many challenges in their current business undertakings and there is a need for them to fight for their survival that results from global events and competition which affects them either positively or negatively. The business environment keeps on changing as businesses strive to maintain their market share and at the same time provide quality services to their customers.
Kotler (1988) clearly states that, for a company to survive and flourish in this competitive business world, it has to engage in strategic management which clearly defines its objectives and examines both the inner and outer situations to formulate a strategy, implement that strategy, evaluate its progress, and make any adjustments where necessary to stay on the track. This business report presents an analytical analysis of Hilton Hotels Corporation’ business in terms of the business management process, evaluation of the impact of the economic and business management process, the management process including any structural adjustments, the human resources management strategies undertaken by Hilton in the face globalization which may hinder the business development process in the company.
The report will then give a conclusion on the basis of the findings. Company profile Hilton Corporation is one of the leading hotel brands globally; the hotel is recognized internationally as the most excellent brand in the hospitality industry. The corporation boasts of 2,700 hotels located in over 70 countries globally. Hilton hotels aim at bringing positive benefits to societies within which the hotel operates by offering quality services, environmental protection, economic development community participation, and community employment.
Hilton’ s major business segments comprise hotels which it owns and manages, this segment provides the biggest percentage of income which amounts to about 87% of the total amount as of 2006. (Hilton hotel, 2006) Normally, there are some set of human resource practices that are essential for any company and that if they are not implemented well and in a proper manner, it will lead to misunderstandings, conflicts, and the general failure of the company.
Recent research has suggested that HRM practices play important roles in the development of any business. This hotel has embraced this reality and it has come up with strategies for employee recruitment, planning, selection, evaluation, and dismissing by the management. This is because the management has realized that there exists a distinctive link between human resource management practices and systems employed by the hotel and its overall productivity. Hilton hotel has a good human resource department that gathers for the needs of its employees. It however has some improvements to make in terms of formulating corporate strategies that incorporate systematic scrutiny and elucidation of the hotel’ s management avowal.
Hilton hotel’ s human resource department should also offer strategic plans to the rest of the administration when considering how the hotel services should develop and in what ways should the hotel propel for its success with regard to future developments. Despite all setbacks, Hilton hotel is certainly proud of an overall improvement in the management of the hotel that has been able to foster an environment of growth and development for the last few years hence all credit should be given unto it.
This hotel is also recognized with the superior corporate forecast which has improved in general the assimilation of development schemes within the hotel such as the improvement of human resource practices which incorporates both tactical and strategic development plans.
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