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The strategy allowed better communications between the hotels and their culturally diverse customers.
c. Communication
Communication is the key to any success, but even more so to a business triumph. The process is understood as the mechanism by which people exchange information. This is pivotal within any economic entity in order to transmit the most adequate data at the required time. Additionally, it is compulsory that the information transmitted be accurate and reliable and as such able to support the decision making process.
d. Business Ethics
As mentioned in the introductory part, the role of business ethics has significantly grown throughout the past decades. The concept is generically defined as the set of norms and regulations which help the individual make the right decision in a context of raised morality issues. Business ethics refers to all types of relationships and actions undergone by the company and it is obvious at all levels, including employee-manager or manager-customer interactions. An article under the aegis of the University of Illinois at Chicago (2009) states that "business ethics consists of a set of moral principles and values that govern the behavior of the organization with respect to what is right and what is wrong. It spells out the basic philosophy and priorities of an organization in concrete terms. It also contains the prohibitory actions at...
It provides a framework on which the organization could be legally governed."
e. Change Management
In a most simplistic formulation, change is defined as the process by which an organizational value, strategy, action or so on is subjected to modifications. The aim of the change process is generally that of achieving benefits and increasing organizational chances of achieving its pre-established goals. The concept of change management has been only recently introduced as a means of dealing with the resistance people generally manifest in the face of change. It deals with the causes of the resistance, often materialized in fear of the unknown, and strives to remove the barriers and make change an ongoing managerial style.
References:
Clark, D., 2008, Organizational Behavior, http://www.nwlink.com/~donclark/leader/leadob.html last accessed on June 22, 2009
McNamara, C., 2008, Organizational Culture, Management Help, http://managementhelp.org/org_thry/culture/culture.htm last accessed on June 22, 2009
2007, Organizational Culture Guidelines, Organizational Culture 101, http://www.organizationalculture101.com/sample-organizational-culture.html last accessed on June 22, 2009
2009, What Is Business Ethics? University of Illinois at Chicago, http://jobfunctions.bnet.com/abstract.aspx?docid=81249 last accessed on June 22, 2009
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