Planning and Managing for the Future - Inverleith Hotel - Case Study Example

Planning and Managing For the Future - Inverleith Hotel – Edingburgh Table of Contents Introduction 3 Current Business Objectives and Plans of Inverleith Hotel (B&B) 4 Revision of Inverleith Hotel (B&B) Plans 4 Action Plan 6 Gantt Chart 7 Report the Impact of Changes on Inverleith Hotel (B&B) 7 Evaluation of Measures to Manage the Changes by Inverleith Hotel (B&B) 8 Assessment of System to Monitor Performance Improvement 9 Conclusion 10 Self-Evaluation & Recommendation 10 References 12 Introduction Inverleith Hotel (B&B) is one of the leading fast food hotels in Edinburgh, England. The major objective of the hotel is to meet the demand of the customers by delivering the best services and products for satisfying the needs of the customers. A SWOT analysis has been conducted with the aim of having a better understanding of the internal as well as external conditions of the business. One of the major strengths of this hotel is the location where the hotel has planned to execute its operations. Due to good geographic location, the hotel can do its business effectively. In addition, the managers and employees are identified to be focusing on the preferences of the customers facilitating in attracting more customers, which in turn aids towards the development of the hotel (Annual Report, 2014). One of the weaknesses of hotel is the limited sales volume and number of rooms, which is affecting the visibility of the brand name of the hotel. The major opportunity of the hotel is the competency of the employees based on which the hotel is able to perform its operations in a competitive manner. The entrance of new hotel can be one of the major threats for B&B. The owners and managers play a vital role towards the improvement of the performance of the hotel based on their good managerial skills. The owners and managers always support the employees in their work, so that the employees can perform their work effectively for meeting the satisfaction level of the customers (Annual Report, 2011). In the context, the assignment focuses on evaluating the plans as well as objectives of Inverleith Hotel (B&B) for having a better understanding of the performance of the company. Accordingly measures are needed to be adopted for implementing the changes effectively for enhanced growth as well as development of the hotel. Current Business Objectives and Plans of Inverleith Hotel (B&B) The current business objectives and plans of Inverleith Hotel (B&B) are to increase exposure and expand market by using new and advanced technology. Other current business objective and plan is to increase the number of customers with the aim of increasing the profit as well as economic growth of the hotel. The hotel has planned to improve the quality of food products and also provide the best services to the customers based on the requirements of the customers (Annual Report, 2013). The business plans to hold a strong market position in the international market. The current business objectives and plans have been to enhance the performance of the hotel. To improve the current performance, the owners and managers of B&B hotel planned to implement innovate and advanced technologies for the improvement of the organizational structure. With the help of new and advanced technology, the managers and employees can enhance the quality of the food products and can attract more customers for enhancing sales volume (Buchanan & Espeseth, 2015). Other major objective of B&B hotel is to produce variety of products based on the tactics of differentiation. Through this objective, improvement of the employees along with the hotel is ascertained to be possible. In addition, the hotel has planned to enhance the visibility of the brand name because brand name also plays a vital role in the development and growth of the hotel. Therefore, the owners and managers should focus on these major objectives for the development of the hotel (Tourism Insights, 2004). Revision of Inverleith Hotel (B&B) Plans Inverleith Hotel (B&B) faces certain issues or problems in relation to increasing number of new B&B hotels. It also faces the problem in terms of sales volume due to limited number of rooms along with the ineffectiveness of the brand name of the hotel. Due to these certain issues, the hotel faced the problem in enhancing the growth of the hotel. Therefore, B&B hotel needs to adopt certain changes in the previous business plan for increasing the growth as well as development in the market segments of Edinburgh (Houghton & Hickey, 2013).The owners of the hotel need to formulate effective budgetary planning for increasing the number of rooms for meeting the increased demand of the visitors. The owners and managers should use advanced technology for improving the quality of the food products and increase the number of suppliers for the availability of raw materials in the market to attract more customers. Therefore, owners of B&B hotel should focus on new budgetary plans for the development of the hotel and increasing the growth of the business (Shekter. Org, 2005). Budget Plan Description Amount Human Resource £ 4000 Suppliers £ 2000 Advanced Technology £ 1000 Accommodation £ 1500 Food Sector £ 1500 Total £ 10000 The owners and managers of Inverleith Hotel (B&B) should focus on the new budget plan for doing the business effectively. Based on the new budget plan, they can increase the number of rooms of the hotel and accordingly, increase sales volume. Based on the new budget plan, they can also increase the number of suppliers for procuring the required raw materials to produce demanded products and satisfy the needs of the customers. With the help of this budget plan, the owners and managers of the hotel increase the profitability and improve the economic growth of the business (Scotland, 2014). Action Plan The required changes can be helpful to Inverleith Hotel (B&B) for the development of the hotel in future. Owners of the hotel need to focus on increasing the number of rooms of the hotel and also provide the best services to attract more customers. Meeting the requirement of the customers is identified to be directly proportionate with the performance and growth of the business (Guildford, 201). The managers and employees should use new and advanced technology to improve the quality of food products and services based on the demands of the customers for meeting the satisfaction level of the customers. The managers also should expand the business in several areas for the availability of products and services in the market and satisfy the needs of the customers, which in turn would facilitate in improving the popularity of brand name. Brand name plays an important role in distinguishing the products and services of the hotels from other B&B hotels. To accomplish the plans and requisites of Inverleith Hotel (B&B), three months’ time will be required, which started on 2nd May 2015 and finished on 27th August 2015. Time duration has been selected based on the entire operational process of the business. 5 days will be required for developing the team members for the project. 5 days will be needed to prepare the budget plan for starting the project and additional 5 days will be required for setting the business goals or business objectives. In addition, 10 days will be required for developing the business plan of the entire business process. 10 days will be needed for selecting a suitable location to expand the business. 15 days will be utilised for formulating marketing and advertising plans. Additionally, 15 days will be required for providing training program to the employees. Moreover, 10 days will be required for developing relationship with the suppliers for procuring raw materials. 10 days will be required for developing hospitality arrangement to provide the best services to the customers. Gantt Chart Report the Impact of Changes on Inverleith Hotel (B&B) The changes have a vital impact on Inverleith Hotel (B&B) and also on its personnel. Due to the changes for using advanced technologies, the managers and employees are able to provide quality food products based on the demands of the customers. Due to the changes in budget plan, owners can do the business successfully and can earn profit. With the help of budget plan, owners and managers are able to have better devised ideas for allocating financial resources on the basis of requirements (Krickless Council, 2014). With the time duration of the business plan, owners can divide the workload of the staff members and it may also help to improve the performance of the employees along with the hotel. Use of new and advanced technology can reduce the workload of staff members and it can also help the employees to perform their work effectively. The owners and managers of B&B hotel always support the employees in their work by providing them good working environment along with good infrastructure. These changes are also helpful to increase the confidence level as well as morale of the employees and help to improve the performance of the hotel (Krickless Council, 2014). Evaluation of Measures to Manage the Changes by Inverleith Hotel (B&B) The owners and managers are needed to have good managerial skills to manage the changes effectively for the development of Inverleith Hotel (B&B). Owners and managers are also required to maintain a good relationship with the staff members and improve the communication system to communicate with them related to the changes for the improvement of the organizational structure. In this context, they should conduct meeting with the employees of the hotel to discuss about the new policies as well as measures to manage the changes. Owners and managers are first required to recognize the changes and then implement the actions by using innovative ideas to manage the changes (Moray, 2010). The owners and managers need to find out the appropriate location to enter into new market for increasing the number of suppliers along with number of customers to manage the changes and increase the popularity of the brand. The required changes can be managed by the competency as well as confidence level of employees and managers. By developing the action plan, managers and employees can implement the changes is a systematic manner for the improvement of the business. One of the major changes is the overcome threats of B&B hotel. By using effective cost control strategy, the managers of the hotel can control the manufacturing cost of the products and have reasonable price of the product to compete with the new B&B hotels (Moray, 2010). Assessment of System to Monitor Performance Improvement Improvement in performance can be monitored over the next six month by developing a new system and keeping the records regarding the performance of the employees of Inverleith Hotel (B&B). Improvement of the performance of employees is important for better growth as well as development of the business in the market of Edinburgh. Performance of the employees can be monitored with the help of performance appraisal system and also with the use of regular review of job performance of the employees. To monitor performance improvement of B&B hotel over the next six months, it is essential to assess regularly the performance and competency of the employees. To monitor performance improvement of hotel, it is also necessary to observe and ascertain the profit in every month and also keep the finance report as well as record of the next six months (Wilson, 2015). Through the performance management system, improvement in performance of B&B hotel for the next six months can be monitored affectively. Along with employees, customers also play a major role in improving the performance of the hotel. Therefore, improvement in the performance of the hotel over six months can also be monitored through the satisfaction level of the customers and the market position of the hotel. Hence, performance appraisal system is important to assess the performance of the employees. In addition, the system assists in monitoring the performance of the hotel (Wilson, 2015). Conclusion From the above discussion, it can be evaluated that Inverleith Hotel (B&B) is the leading fast food hotel in England. One of the prime objectives of B&B hotel is to expand the business by using advanced technology and also increase the economic growth of the business. There are certain issues faced by B&B hotel which include the entrance of new B&B hotels and limited number of rooms in the hotel among others. Therefore, owners and managers should focus on the issues and find out the potential solution to solve these issues. The owners and managers also required certain changes for the improvement of the performance of the hotel along with the employees. In addition, it can assess that owners of B&B hotel should develop performance management system to monitor performance of the hotel for the next six months. The owners and managers are required to have the ability and managerial skills to manage the changes for the development of hotel in future. The managers always support the staff members in their work, so that staff members can perform successfully and enhance the profitability of the hotel. In this respect, it can be concluded that B&B hotel need to focus on the action plan to do the business effectively and increase profitability. Self-Evaluation & Recommendation From the above study, I have learnt that Inverleith Hotel (B&B) has been conducting operations in an effective as well as efficient manner to enhance the growth of the business. But, the hotel required certain changes based on the current business objectives and business plan for the enhancement of the performance of the hotel. From the above study, I have also comprehended that the owners and managers should devise the action plan and budget plan to attain the objectives of the hotel successfully. The performance management system can be helpful to evaluate the performance of the hotel over the next six months. The above learning helps me for understanding the plans and ideas to be devised for the development of a hotel. In addition, I have been able to have the knowledge about the issues faced by the hotel and accordingly, appropriate strategies for the development of the hotel in future. I have also learnt that the hotel should focus on the preferences of customers for increasing sales volume and profitability. The managers also should recognize the strategies applied by the competitors, so that the hotel can implement different and successful strategies to compete in the market. Respectively, I have understood that business plan is an effective mechanism based on which business goals as well as objectives can be accomplished efficiently. References Annual Report, 2014. B & B Tools, President’s Statement, pp. 1-76. Annual Report, 2011. B & B Tools. United For Industrial Efficiency, pp. 1-97. Annual Report, 2013. B & B Tools. President’s Statement, pp. 2-76. Buchanan, D. R. & Espeseth, D. R., 2015. Developing a Bed & Breakfast Business Plan. North Central Regional Extension, pp. 1-92. Guildford, 2013. Homelessness Strategy. Media, p. 2-84. Houghton, F.T. & Hickey, C., 2013. Focussing on B&Bs: The Unacceptable Growth of Emergency B&B Placement in Dublin. Focus Ireland, pp. 1-50. Krickless Council, 2014. A Guide to Setting up A Bed And Breakfast or Guesthouse Business in Kirklees. Your Tourism Business, pp. 2-23. Moray, 2010. Guidance on Standard for Temporary Accommodation. Shelter Scotland, pp. 1-14. National Archives, 2003. Improving Standards of Accommodation for Homeless Households Placed in Temporary Accommodation. A Consultation Paper, pp. 3-60. Scotland, 2014. Assurance and Improvement Plan. East Renfrewshire Council, pp. 2-29. Shekter. Org, 2005. Briefing Alternatives to Bed and Breakfast: An Overview of Practice in Scotland. Shelter Policy Library, pp. 1-33. Tourism Insights, 2004. Bed and Breakfast Accommodation: Where Now, Where Next and How. A Summary of a Bed And Breakfast Sector Study in South East England, pp. 1-4. Wilson, W., 2015. Homeless Households in Temporary Accommodation (England). Social Policy Section, pp. 2-21. Read More