Resources:
Resources refer to the assets of a company and it can be separate as tangible, intangible resources and human resources.
Tangible resources:
Tangible resources can be defined as land, buildings, inventory, financial and information system.
Land and building:
The land of Intercontinental Hong Kong was bought by IHG form New World Development Company Limited (NWD) at 2001 (Sito, 2015). The original name of Intercontinental Hong Kong was The Regent Hong Kong and the ownership was NWD. NWD sold the hotel and the land to IHG with HKD 2.34 billion. So, IHG owns the land and the building of Intercontinental Hong Kong. The renovation work had beed taken before pass ten years. Yet, some guests complain arise recently like the poor condition of the water drainage, air-conditioning system and room amenities. So, to solve these problems comprehensively, the new renovation work is implementing and the expected finishing date is at 2019.
Rooms inventory:
The most vital element of Intercontinental Hong Kong is the room inventory. Intercontinental Hong Kong has 503 guest rooms, which including 87 suites like Presidential Suite, CEO Suite, Terrace Suite and Deluxe Suites. Total two-third of rooms have panoramic
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Distinctive competencies refer the company may differentiate the products and achieve lower costs over the competitors by using the firm-specific strengths (Snow & Hrebiniak, 1980). In IHG annual report (2016), it stress that their ‘Winning Model” which is strengthening their differentiated brands and delivering revenue to hotels through the lowest cost and direct channels. ICHK may use of her own resources to satisfy the guests with the distribution channel and enjoying the economies of scale of IHG group to work more cost effectively. These distinctive competencies support ICHK works efficiently and support her business model
Human resource is an appellation used in referring to the workforce of an organization or company. Human resource management is involved in the act of putting together employees in an organized manner to assure the objectives of the organization are achieved in a competent and experienced manner. Human resources are the most important services of any organization since they are the catalysts of non-human resources and the medium for developing competitive advantages and sounds of creativity. No organization can exist without a human resources department (Walsh, 2009). A company without an HR department would be reducing its operations and could collapse within a short amount of time.
In Bangkok, Thailand, a group of financial investors invested in a hotel called The Regency Grand Hotel. This hotel is the most cherished hotel in town, where the employees and guests enjoy spending time at this five-star hotel. This place hosts approximate 700 employees that give fantastic benefits, year-end bonuses and ensures job security.
Resources include any physical items, expenses or other costs. This can be building, ICT equipment the catering or even a special feature or entertainment or display that is brought in for the event. Some equipment can be expensive so a good event organiser with good resource management skills would be able to make most of their resource.
The resource-based view was developed to help emphasize internal capabilities as a means of creating competitive advantage (Henry, n.d.) In this view, the organization is comprised of a series of resources that are used by management. These resources are the source of new products and the internal improvements that help companies to better compete in the marketplace. There are two different types of resources tangible and intangible. The former category consists of physical assets, and is characterized as physical resources, human resources and capital resources. So physical resources are the buildings, machinery, materials and productive capacity. At Coca-Cola, the company's physical resources
First of all, every little detail is necessary for a job applicant. The interviewer has to select specific questions in order to find the best applicant for the job.
Core competencies are the capabilities that are critical to a business achieving competitive advantage. The starting point for analysing core competencies is recognising that competition between businesses is as much a race for competence mastery as it is for market position and market power. (Prahalad and Hamel)
InterContinental Hotel Group is a hotel company with over 350,000 employees working in 100 countries. It has over 5,000 hotels globally. One of IHG’s brand is the Holiday Inn, the Holiday Inn’s international headquarters are in Americas, Europe and Australasia. In London, UK, there are 72 hotels with the Holiday Inn or Holiday express brand. The InterContinental Hotel Groups structures their business into sections depending on what the hotel’s aims are. For example, the Holiday Inn Resort is abroad with outdoor swimming pools, it’s a very holiday place when you can spend 1-2 weeks there where the Holiday Inn is a place to stay over for one night or even the weekend. These two hotels have the same brand but different aims.
HK Express Airways is an airline under HNA group, which operates as a Low-Cost Carriage (LCC) since October 2013. It now has a larger impact on travel and market situation. It competes to Cathay Pacific and its subsidiary and other airlines to attract both domestic and regional passengers.
Through an internal environment analysis, companies can identify and understand their own unique resources, capabilities, and competencies that are required for their sustainable competitive advantage. Resources, capabilities, and core competencies are the foundation of competitive advantage. There is no competitive advantages are permanently sustainable in any companies, so they have to consist on their current advantages and develop new advantages by internally understanding and analyzing their resources and capabilities. Competitors have their own unique resources, capabilities, and core competencies to create values for their customers. Both tangible and intangible resources, which include individual, social and organizational phenomena, are combined to generate capabilities. In turn, company’s capabilities are used to build core competencies. Also, core competencies are as a source of competitive advantage for a company to win in the competitive market.
Intercontinental Hotels Group – It is British company and the most profitable among the four industry leaders. It owns, manages, leases and franchises approximately 3,741 hotels in approximately 100 countries as of 2006. It ranks number one in gross margins (54%), operating margins (24.7%) and earnings per share ($2.10) even if it’s smallest in the strategic group. It appears to be the cost leader among the big four companies in the industry.
This proposal is about the Roaring Dragon Hotel (RDH). It has a detailed description about the problem and the causes faced by RDH during the change it needed to undergo which was imposed by the government in 2001. The responsibility to change RDH economic environment to market economy was given to HI management. However, the change process introduced by HI led to the further degradation of the establishment process. So, this proposal discuss the points which were misleaded by the management and which completely converted the profit making company to a loss making company.
Resources of a company are very much important for the continuous well-growth of the profit and performance of the company. Resources of a company can be tangible or intangible resources as well. There are several resources of Rio Tinto that can be the catalyst for the improvement of the company.
As mentioned earlier in Chapter 1, China Lodging Group is a multi-brand hotel group which as per now manages seven hotels with each having a specific target of customers. These Hotels are Hi Inn, Han Ting Hotel, Elan Hotel, Star-way Hotel, JI Hotel, Manxin Hotel, and Joya Hotel. Its mission statement is to create great brands of hotels that guests love. The group predicts to be owning over a quarter of the hotel market share in the next five years to come. The two major objectives that the company has set for the next five years to ensure that they attain their goal is to build one large five-star hotel in the heart of China Capital’s serene outskirts and to ensure that they hire enough
For hotels we target Kowloon and Island Shangri-La, Macro Polo Hotel HK Café. They were our existing
The hotels that we are writing about are The Ritz Carlton Singapore, the Intercontinental Singapore Hotel and the Marriott Singapore. Our main hotel will be the Ritz Carlton Singapore. We chose the hotels as they pose as prominent hotels in Singapore and they are also known overseas as well. Although they are quite similar, there are also several differences that can be seen as well. They are also very distinct in branding, and value their brands very highly. All three hotels boast amenities and services that will cater to a majority of their customers. As well as an experience that they believe we will value as customers.