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Ritz carlton Essay

Executive Summary

There is a conflicting business strategy between Ritz-Carlton and Millennium Partners. Failure to resolve the issue could prematurely end the partnership.

PEST ANALYSIS (ADAPTATION)
ECONOMIC
POLITICAL
• Stable Economy
• Stable Political Scene
• Upcoming Election

• Tourism Industry
• Unemployment Rate
• DOW

SOCIAL
• Political Events
• Leisure/Travel

TECHNOLOGY
• Y2K
• Internet Dotcom boom
• Moore’s Law

PORTER’S 5 FORCES ANALYSIS

Threat of entry

Very High Cost
Name Recognition

Supplier Power

Labor
Luxury industry

Industry Rivalry

4 Seasons

Every day supplies

Substitutes
Embassy
Condominiums

Buyer Power
High End
Customers

AGIL ANALYSIS

Adaptation
(Refer to PEST Analysis)

Latent Values
Ritz:
•HR and Quality Motto
•Mission Statement
•Management

Millennium:
•Height, Light, and View
•Investors
•Apartment, Residents

Goal Attainment
Ritz
7 Day / 50%
TQM
Traditional Target
Partnership

Millennium

+ 7 Day / 80%
SQI
New Target
Ritz Investment

Integration
Collaborating to reach two separate goal.
One perspective can’t dominate.

SWOT ANALYSIS
Weaknesses
Strengths
• 7- Day Count-Down Process
• Management Style
• Standards

• Perishable Product
• Conflict with Millennium

• Experience

Opportunities

Threats

• Partnership with Millennium

• Security Issues

• Globalization

• 4 Seasons / Millennium
• Millennium

FORCE FIELD ANALYSIS

 How does Ritz-Carlton convince Millennium to execute the 7 day process without threatening their future relationship?

Propelling Forces

Restraining Forces

• 7-Day Process Success

• Building Construction

• Ritz-Carlton Worldwide

• Conflicting Philosophies

Experience
• McBride’s Experience

• Millennium, $700 Million
Investment

CONCLUSION

Based on the analytical tools, the environment is favorable and the industry is attractive. The tools also show issues in integration between Millennium Partners and the Ritz-Carlton due to different goals and values. Ritz Carlton’s strengths demonstrate their unyielding commitment to their business philosophy.

REFERENCES

“TInet: The United States International Travel Industry.” Welcome to Tourism Industries. US Department of
Commerce, July 2001. Web. 27 Feb. 2012.
.
Sucher, Sandra J., and Stacy E. McManus. “Harvard Business School – Ritz-Carlton Hotel.” Scribd. 30 Sept. 2005. Web. 12 Feb. 2012.
.


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