Harvard Case - Marriott Corp. (A)
"Marriott Corp. (A)" Harvard business case study is written by Lynn Sharp Paine, Charles A. Nichols. It deals with the challenges in the field of General Management. The case study is 19 page(s) long and it was first published on : Dec 14, 1993
At Fern Fort University, we recommend Marriott Corporation pursue a strategic growth strategy focused on international expansion and diversification into new market segments. This strategy will leverage Marriott's core competencies in hospitality management, brand recognition, and operational efficiency to capitalize on the burgeoning global demand for travel and hospitality services.
2. Background
Marriott Corporation, a leading hospitality company, faced a critical juncture in the late 1980s. While enjoying considerable success in the US market, the company recognized the need for growth and diversification to remain competitive in a rapidly changing industry. This case study focuses on the strategic decisions made by Marriott's leadership regarding its future direction, particularly its foray into international markets and the acquisition of new business segments.
The key protagonists in this case are:
- J. Willard Marriott Jr., the company's CEO, who championed the strategy of international expansion and diversification.
- Bill Marriott, the company's president, who played a key role in implementing the strategic direction.
- The Marriott family, whose ownership and leadership provided a strong foundation for the company's growth.
3. Analysis of the Case Study
Strategic Analysis:
- SWOT Analysis: Marriott possessed strengths in its brand recognition, operational efficiency, and strong management team. However, it faced weaknesses in its limited international presence and potential challenges in navigating diverse cultural contexts. Opportunities lay in the growing global demand for travel and hospitality, while threats included increased competition and economic instability in emerging markets.
- Porter's Five Forces: The hospitality industry was characterized by high competition, low barriers to entry, and strong bargaining power of customers. Marriott needed to differentiate itself through its brand, service quality, and operational efficiency to gain a competitive advantage.
- Competitive Strategy: Marriott adopted a differentiation strategy, focusing on providing high-quality services and a consistent brand experience across its properties. This strategy aimed to attract discerning travelers willing to pay a premium for superior hospitality.
Financial Analysis:
- Growth Strategy: Marriott's international expansion and diversification strategy required significant capital investment. The company relied on a combination of debt financing, equity offerings, and internal cash flow to fund its growth initiatives.
- Performance Evaluation: Marriott's financial performance was closely monitored through key performance indicators (KPIs) such as revenue growth, profitability, and return on investment. These metrics helped assess the effectiveness of the company's strategic decisions.
Marketing Analysis:
- Brand Management: Marriott's strong brand recognition was a key asset in its international expansion. The company leveraged its existing brand equity to build trust and familiarity in new markets.
- Marketing Strategy: Marriott employed a multi-pronged marketing strategy, including advertising, public relations, and partnerships with travel agencies and airlines. The company tailored its marketing efforts to specific target segments in each market.
Operational Analysis:
- Operations Strategy: Marriott implemented a standardized operating model to ensure consistency in service quality across its properties. This model included rigorous training programs for employees, centralized procurement, and efficient supply chain management.
- Technology and Analytics: Marriott invested in technology to enhance its operational efficiency and customer experience. This included online booking systems, customer relationship management (CRM) tools, and data analytics for decision-making.
4. Recommendations
1. International Expansion:
- Focus on Emerging Markets: Marriott should prioritize expansion into high-growth emerging markets with a strong demand for hospitality services. This includes regions like Asia, Latin America, and Africa.
- Strategic Acquisitions: Marriott should consider strategic acquisitions of existing hospitality businesses in target markets to expedite its market entry and leverage local expertise.
- Tailored Offerings: Marriott should adapt its product offerings and services to cater to local preferences and cultural sensitivities in each market.
2. Diversification:
- New Market Segments: Marriott should explore new market segments such as extended-stay hotels, vacation ownership, and luxury resorts to broaden its customer base and revenue streams.
- Innovation in Hospitality: Marriott should invest in innovation to enhance the guest experience and differentiate itself from competitors. This includes exploring new technologies like AI and machine learning, personalized services, and sustainable practices.
3. Organizational Change:
- Global Talent Management: Marriott should develop a global talent management strategy to attract, retain, and develop diverse talent across its international operations. This includes implementing cross-cultural training programs and fostering a culture of inclusion.
- Leadership Development: Marriott should invest in leadership development programs to prepare its managers for managing diverse teams and navigating complex international environments.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Marriott's core competencies in hospitality management, brand recognition, and operational efficiency. They also support the company's mission to provide exceptional customer experiences.
- External Customers and Internal Clients: The recommendations address the evolving needs of global travelers and the aspirations of Marriott's employees.
- Competitors: The recommendations aim to differentiate Marriott from its competitors by focusing on emerging markets, new market segments, and innovative offerings.
- Attractiveness - Quantitative Measures: The recommendations are expected to generate positive returns on investment through increased revenue, market share, and brand value.
6. Conclusion
By embracing a strategic growth strategy focused on international expansion and diversification, Marriott Corporation can capitalize on the global hospitality market's growth potential and secure its position as a leading player in the industry. The company's commitment to innovation, talent development, and customer-centricity will be crucial to its success in this dynamic and competitive environment.
7. Discussion
- Alternative Strategies: Alternative strategies include focusing solely on the US market, pursuing a cost leadership strategy, or entering into joint ventures with local partners. However, these options may limit Marriott's growth potential and expose it to greater risks.
- Risks and Key Assumptions: The recommendations involve risks such as economic instability in emerging markets, cultural challenges, and competition from local players. Key assumptions include the continued growth of the global travel and hospitality industry, Marriott's ability to adapt to changing market dynamics, and the effectiveness of its talent management and innovation strategies.
8. Next Steps
- Develop a Detailed Implementation Plan: Marriott should develop a detailed implementation plan outlining specific timelines, resource allocation, and key performance indicators for each recommendation.
- Establish a Global Leadership Team: Marriott should establish a global leadership team responsible for overseeing the implementation of the strategy and coordinating efforts across different regions.
- Monitor and Evaluate Progress: Marriott should regularly monitor and evaluate the progress of its strategic initiatives and make adjustments as needed. This includes tracking key performance indicators, conducting market research, and gathering feedback from stakeholders.
By taking these steps, Marriott Corporation can successfully navigate the challenges and opportunities of the global hospitality market and achieve sustainable growth in the years to come.
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Case Description
Marriott Corp.'s chairman and CEO must decide whether to recommend a restructuring of the company to the board of directors. The proposal he is considering would split the Marriott Corp., a premier hotel developer, owner, and manager, into two separate companies by a stock dividend to shareholders. One of the new companies would contain most of Marriott Corp.'s profitable management operations, while the other would retain ownership of its hotel properties as well as most of its long-term debt.
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