Change the Organization
Westin resort employs various effective techniques to facilitate its growth and success. Strategic management process illustrates the organization’s strategy the managers employ in upgrading the productivity of the organization. The managers within the Westin resort use the strategic management process to make certain decisions that determine its performance. The managers often strive at achieving a good performance for the organization. The strategic management is a process that evaluates the businesses that the organization is involved. It also reviews the competitors of the organization. It enables Westin resort to create goals in order to handle its current and future competitors. There are numerous factors within Westin resort that require scrutiny to ensure that they efficiently contribute to the performance of the organization. Strategic management process manages the transactions within the organization that follow a particular procedure. The strategic management process follows particular steps in order to improve and change the performance of Westin resort. The process initially performs an environmental examination that analysis the internal and external issues affecting the performance of the organization. (Management study guide, 2007).
Strategy formulation is a technique employed to decide an effective course of action to achieve organizational objectives. Initially, the managers in Westin resort perform a thorough environmental analysis then create organization, business and functional strategies. Transactions within the organization are implemented following a rational strategy. The managers in Westin resort rely on strategic planning in order to improve its performance. Strategic management process in Westin resort also encompasses strategic implementation that ensures that the intended strategy is put to action. Strategy implementation involves making the developed strategy perform as expected in Westin resort. The implementation process also involves designing the company’s framework, establishing decision making procedure, distributing resources, and sustaining human resources. In the management process, strategy evaluation is the final stage that also strives at achieving the organization’s objectives. Westin resort employs the strategy evaluation stage to assess the performance of the developed strategies. The strategic evaluation process also reviews the implementation of the strategies developed in Westin resort. It evaluates whether the implementation of the strategies follows the steps outlined in the documented strategy. The strategies developed in Westin resort facilitate the achievement of objectives and improve its performance. The people in Westin resort organization find it significant to understand the developed strategy. The strategic management process should be effectively executed when people within the organization understand the strategy. People within Westin resort facilitate the performance of a developed strategy (Management study guide, 2007).
In an instance, limited resources should be allocated for every strategy developed within an organization. Basically, the management process is an unremitting process that also involves reviewing the performance of Westin resort. The outcomes of the organization’s performance are achieved and the managers evaluate the implication in order to amend the required strategies. In Westin resort, the SWOT analysis is a significant technique in the modification of organizational performance. It aids the organization in comprehending its strengths, weaknesses, opportunities and threats. There are numerous opportunities within the market that the organization strives at achieving. Business opportunities are usually provided by the environment within which the company is located. Commonly, Westin resort acquires competitive advantage by exploiting the opportunities. Westin resort aims at utilizing business opportunities in order to boost its profitability. It is clear that the organization should seek out good opportunities that benefit its performance. Through intense research, the Westin resort is able to understand the trends of the market. Still, Westin resort is located in highly populated zones that offer the opportunity to receive numerous customers. The SWOT analysis helps the Westin resort in identifying the opportunities to exploit for profitability. Moreover, the analysis illustrates the strengths of the organization. It helps Westin resort to realize the advantages that it posses (Schultz, 2012).
The Westin resort company is able to identify the transactions it performs in a better way than the other organizations. The organization reflects on its strengths based on an internal perspective and the perspective of the customers. The organization’s strengths facilitate the achievement of the company’s mission. Strengths are perceived as beneficial matter of the company that involve process capabilities, products and services, human competencies, financial resources, customer goodwill, and brand loyalty. Still, Westin resort is able to evaluate their strengths based on the strengths of the competitors. Nevertheless, the SWOT analysis also illustrates the weaknesses of the organization. Based on the identified organizational weaknesses, Westin resort realizes the things needed to be improved and those that should be avoided. It is also important to consider the perspective of the people in the market and the customer regarding the weaknesses of the organization. Commonly, Westin resort encounters obstacles that interfere with the performance. It is important that Westin resort identifies threats that would jeopardize its performance. Moreover, there are factors in the market that would occur as threat to organization. In an instance, Westin resort management should know whether innovative technology is affecting the performance of the organization. Westin resort also capitalizes on the diversification strategy that leads it organization into new markets bearing new products. Westin resort employs the diversification strategy in order to exploit its products and services in other markets. Still, Westin resort should have managerial skills that could be successfully be employed in the new markets.
Westin resort employs the diversification strategy in order to spread economic risk to other diverse markets and products. Employing the strategy would ensure that the organization does not wholly rely on a single market or product. Generally, the diversification strategy strives at elevating profitability through high sales volume achieved from new markets and products. The strategy of diversification could involve internal establishment of new products or markets, coalition with a complementary firm, certifying innovative technologies, importing or distributing products developed by another organization, possession of a company. Westin resort has numerous reasons for embracing the diversification strategy. The firm may also be compelled to employ the diversification strategy in instances when the present product or market appears to have no more opportunities for expansion. On the other hand, diversification process could also be highly risky for the productivity of Westin resort. Initially, Westin resort performs a thorough investigation concerning the new market. It is risky to introduce an unfamiliar product to an unfamiliar market. In this situation, the organization exposes itself into great uncertainty. Therefore, the organization should solely employ the diversification strategy when the present product or market does not provide opportunities for expansion (Shirley, 2010).
In Westin resort, the globalization strategy acts as a strategic channel to globalization. The organization should understand the extent of its market in the international key markets. It should also identify the techniques required to maintain its presence in the global markets. The globalization strategy is very vital for the organization especially if it is experiencing sturdy demands for cost reduction with weak demands for local receptiveness. The strategy offers Westin resort an opportunity to vend standardized products internationally. The globalization strategies need the organization to closely coordinate its products and the pricing plans across global markets and locations. Therefore, Westin resort should be highly centralized because it embraces the globalization strategy. In pursuit of globalization strategy, Westin resort primarily considers its resources, abilities, and present global position. In an instance, the company could vend excess products to other countries but also maintain its focus on the home market. The globalization strategy is significant for the organization because it offers new opportunities for new sales. The international expansion for the Westin resort firm also provides an opportunity for new profits. The global expansion improves the profitability of the organization especially if it is poor in the home market. Therefore, the organization highly exploits the opportunity for international expansion because it could be the sole opportunity for gaining profit. Apart from gaining sales opportunities, globalization strategy also offers other purposes for international expansion. In an instance certain companies embrace international expansion in order to safe guard resources. Still, Westin resort could also expand so as to exploit the opportunity of low labor costs in certain countries thus exercising efficiency seeking. Westin resort could also embrace international expansion and obtain foreign organizations so as to enhance its market place against the competitors. Strategic asset seeking defines the process expanding the organization through the acquisition of foreign companies in order to gain competitive advantage over other companies (Lynch, 2005)
The BCG competitive strategy involves a strategic illustration of competitive intelligence instrument used in the organizations to illustrate the share momentum. The BCG matrix strategy helps Westin resort in scrutinizing available opportunities that are suitable for the allocation of resources in order to capitalize on profits in the future. Initially, the managers within Westin resort should comprehend the connection between market share and market growth in order to understand the BCG matrix competitive strategy. Market share illustrates the percentage of the entire market that is being serviced by the organization. The percentage is usually calculated in revenue terms or unit volume conditions. Organizations such as Westin resort that have a significant market share control a great proportion of the market. Therefore, Westin resort should capitalize on increasing its market shares. Gaining a significant proportion of the market is effective for the productivity of the market since it encounters numerous opportunities. The Boston matrix competitive strategy presumes that organizations that have an enormous market share enjoy significant amounts of money. The presupposition is based on the fact that organizations that have remained long enough in the market have learnt the ways of maximizing profits. These organizations highly benefit from the scale economies that offer them significant advantages. Therefore, acquiring a significant market share is also a technique employed by Westin resort to maximize their profits (Micheal, 2009).