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The Mayfair Hotel The Mayfair Hotel is a five-star city centre hotel which is celebrating 100 years in business - Leaving Cert Business - Question 4 - 2016
Question 4
The Mayfair Hotel The Mayfair Hotel is a five-star city centre hotel which is celebrating 100 years in business. To celebrate this centenary, the management of the ... show full transcript
Worked Solution & Example Answer:The Mayfair Hotel The Mayfair Hotel is a five-star city centre hotel which is celebrating 100 years in business - Leaving Cert Business - Question 4 - 2016
Step 1
Evaluate how different types of planning contribute to business success. Relate your answer to the Mayfair Hotel, making any appropriate assumptions.
Answer
When evaluating how different types of planning contribute to business success, it is beneficial to categorize them into strategic, tactical, and operational planning.
Strategic Planning
Strategic planning typically encompasses long-term objectives, generally spanning 3 to 5 years. For the Mayfair Hotel, strategic planning may involve setting goals such as expanding market share by 20% within the next 5 years. This kind of planning sets the overall direction and lays the groundwork for specific initiatives necessary for business success.
Tactical Planning
On the other hand, tactical planning takes a more short-term approach, generally focusing on a 1- to 2-year horizon. For the Mayfair Hotel, tactical plans could involve organizing specific events for the centenary celebration, breaking down larger strategic goals into actionable items. For instance, creating a detailed list of events that align with the hotel’s long-term vision can enhance its immediate market presence.
Operational Planning
Lastly, operational planning involves day-to-day operations, such as managing daily activities and scheduling staff shifts. Regular operational plans for the Mayfair Hotel could include timetabling for banqueting events or preparing menus for celebratory dinners. Efficient operational planning ensures that every department works cohesively towards achieving the goals outlined in both tactical and strategic plans.
Conclusion
Both tactical and operational plans are essential in the execution of strategic objectives. By ensuring all layers of planning are addressed, the Mayfair Hotel can attain its business objectives effectively.
Step 2
Discuss the benefits and challenges for a business of developing a matrix organisation structure (team structure) to complete specific projects in a business.
Answer
A matrix organization structure fosters collaboration and flexibility, crucial for the Mayfair Hotel as it embarks on planning its centenary celebration events.
Benefits
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Improved Communication: A matrix structure encourages personnel from different departments to collaborate, allowing for the exchange of innovative ideas and strategies regarding project completion.
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Enhanced Problem-Solving: Team members can share diverse skills and expertise, allowing the hotel to develop solutions faster and more effectively. Employees can learn new skills from each other, thereby enhancing overall team performance.
Challenges
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Conflict of Authority: In a matrix structure, confusion may arise regarding who has decision-making authority, sometimes leading to conflict between team leaders and function managers.
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Time Management: Team members may struggle with prioritizing tasks due to conflicting demands from multiple projects, which could slow down progress and lead to inefficiencies.
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Dependency on Cooperation: The success of a matrix structure relies heavily on the ability and willingness of team members to cooperate across various functions. Any resistance to collaboration can jeopardize project success.
Conclusion
In summary, while a matrix organization structure can provide substantial benefits for the Mayfair Hotel, it is crucial to address potential challenges to ensure efficient project completion.