GROWTH STRATEGIES DECISION MAKING PROCESS IN LARGE HOTEL CHAINS Dissertation

GROWTH STRATEGIES DECISION MAKING PROCESS IN LARGE HOTEL CHAINS - Dissertation Example 21 Role of the Researcher 22 Data Analysis Technique 22 Reliability and Validity 23 Ethical Considerations 23 Findings and Analysis 25 Findings from the Interview 26 Discussion 34 Conclusion and Recommendations 37 Key Findings of the Study 37 Revisiting Aims and Objectives 38 Recommendations for Action 38 Recommendations for Further Study 40 References 41 Appendix- I 46 Abstract Hotel industry is one of the largest industries in the world that has progressed rapidly. Globalization has fueled this growth process as large hotel chains seek new venues to extend their business. Expanding overseas is not easy and a number of factors such as the entry mode, situation of the market, position of the market and economic and political situation of the host country have to be considered. The expansion involves a series of decisions; after the decisions have been taken, a strategy to implement them is then chalked out. Eastern European countries particularly Ukraine has caught the attention of m any multinational organizations and chains of hotels. The promising potential of the area has brought two major chains of hotels the Intercontinental and Fairmont to the capital city of Kiev. Both hotels have adopted different growth strategies although they target the same clients. The decision making processes in both hotels are different as well as in one hotel the General Manager is at a liberty to take most decisions while in the other decision making is done by the owners. This study by interviewing general managers at both hotels identified differences and similarities in decision making process at both hotels and make recommendations accordingly. Introduction Globalization has brought about significant changes in the world of business and has opened new avenues for investments; however one should understand importance of a well-planned project. In order to ensure project’s survivability, the whole process of decision-making must be supervised and overseen (Armesh, n.d .). It is crucially important that proper actions should be taken at the right stages of decision-making process and proper teams should be assigned to carry out the decisions (Armesh, n.d.) Only when the decisions are made after adequate research, the plans could be successful as highlighted by Walter (2010, p. 4) â€Å"the more information the â€Å"decision makers† have, the better will be the decision†. Walter (2010) explained that decision making requires balancing multiple objectives and there is an element of uncertainty in decisions where only the clarity of goals can tell the decision maker the best alternative therefore it is always good to have information because only then decision makers will be able to make informed decisions. Importance of making good decisions increases even further when the decision involves selection and implementation of growth strategies because then the stakes and risks are also high (Armesh, n.d.). Growth requires heavy investment and if things go wrong the business has to face heavy losses. Today, big hotel chains confront greater needs to invest more and more resources in decision-making process. In globalized and yet distinguished markets, large hotels must take all factors into account and consider the best growth decision; thus, ensuring success of the projects and return on their investment. This research study focuses on identifying and understanding elements involved in decision-makin