Premium Essay

Analysis of Ritz-Carlton's Success

In:

Submitted By thbond
Words 847
Pages 4
Analysis of Ritz Carlton’s Success

Abstract

For over 100 years The Ritz-Carlton has set the standard for luxury and lifestyle hotel service. The chain has expanded to 81 properties in 27 countries and employees 38,000 people while continuing to win quality and service awards, receive consistent accolades from independent reviewers and maintain strong financial performance. This paper analyzes the underlying factors associated with this consistently superior performance and in particular how this is accomplished on a global scale. Through a well-defined set of values and philosophies and consistent application proven leadership and management methods, The Ritz-Carlton truly has developed into the gold standard of luxury hotel accomodations.

Analysis of The Ritz-Carlton’s Success
The Ritz-Carlton proudly announces on their website: You can't be a legend without a great story... The Ritz-Carlton has been recognized with numerous awards for being the gold standard of hospitality. Now with 81 properties in 27 countries and 38,000 employees, The Ritz-Carlton continues to achieve this superior service level regardless of the workforce or culture of a country in which it operates. The hotel chain accomplishes this through a combination of culture, policy, procedure and management methods that they refer to as The Gold Standards. In fact they lay out these standards for the world to see. Not only are the Gold Standards outlined on their web site; they even go so far as to open up their corporate Leadership Center as a resource for other organizations interested in benchmarking the business practices that led to two Malcolm Baldrige National Quality Awards.
The Gold Standards, as outlined on the Ritz-Carlton web site, are the collection of values, beliefs and commitments that the foundation of the Ritz-Carlton operation. The Gold Standards include: *

Similar Documents

Premium Essay

Ritz-Carlton’s Human Resource Management Practices and Work Culture

...University Centre “César Ritz“ Ritz-Carlton’s Human Resource Management Practices and Work Culture Submitted on Wednesday, 10th December 2008 by: 182538 182520 182515 Word Count: 1.575 Submitted to: Mr G. Cocker MGT 351 Organizational Behaviour Executive Summary: • The first Ritz-Carlton opened in 1898 in Paris and since then a lot of changes took place which led the company to the nowadays success. • Training methods and the introduction of globally accepted standards are important to ensure quality • Advantages are high customer and employee satisfaction • Disadvantages are the lack of individuality and high costs • Training reduction would support employees individuality Table of Content: Introduction - 4 - Short Historical Overview - 4 - Ritz-Carlton’s Training Methods - 5 - Advantages and Disadvantages of Ritz-Carltons’ Training Methods - 7 - Conclusion - 9 - Reference-List - 10 - Introduction: Ritz-Carlton, belonging today to Marriott, implemented a lot of different training strategies during the last 30 years which led the company to success with increasing customer satisfaction, lower employee turnover and even winning prices for their training. The Case-Study “Ritz-Carlton’s Human Resource Management Practices and Work Culture” introduces exactly these training methods and focuses on the advantages, but disregards the disadvantages...

Words: 1777 - Pages: 8

Premium Essay

Management Assignment

...Question 1 a. Michael Porter’s five forces model (Porter 1980) can be used as a tool for screening and interpreting data about the external environment. It is perhaps the best-known and most widely used tool in business strategy. The rationale behind the five forces model can be described as follows.In doing external analysis, it is important to keep in mind that the purpose of external analysis is to identify: ← the more attractive industries; or ← the more attractive positions within an industry The five forces model is a very useful tool for both purposes. But one problem with it is that it is so straightforward that people do not feel the need to appreciate the more subtle issues in applying it b. Motor Vehicle First Registration Tax Motor Vehicle First Registration Tax is levied by the Transport Department. On the first registration of a motor vehicle, a first registration tax is charged, the sale of used cars are not paying taxes. As the HK (SAR) government increases the levy of Motor Vehicle First Registration Tax, Vehicle First Registration and Taxation 其他涉及稅項措施 • 為保障公眾健康,每支香煙的煙草稅調高五角,並按同等比例提高其他煙草產品的稅率。 • 為控制私家車數目的增長,增加私家車首次登記稅約15%。 Question 2 a. A firm’s ability to satisfy customer needs depends on its resources, capabilities and core competencies. Resources ‘are inputs into a firm’s production process such as capital equipment, the skills of individual employees, patents, finance, and talented managers.’ Capabilities...

Words: 2140 - Pages: 9

Premium Essay

Case Study: Siemens in a Sea of Scandals

...Case 1: The Portman Ritz-Carlton, Shanghai. What is the main source behind the Portman Ritz-Carlton’s performance? Ritz Carlton brought in Mark, who has been in the Hotel business for years and a successful general manage with Ritz Carlton, to turn the hotel around. Mark, with his leadership skills and his people are what turned the Ritz Shanghai to an award winning establishment. The main source behind the turnaround and continued success of the hotel starts with business and talent requirements of the hotel. This is all centered on the hotels mission. “To provide the finest personal service and facilities to our guests who will always enjoy a warm, relaxed yet refined ambience.” How valuable, rare, and Hard-to-imitate are its human resources? They are people who care and respect others, who smile naturally, who seek a long term relationship and those who have talent for the job. The hotels focuses on these employee attributes are what lay the foundation for the success of the hotel How organizationally embedded are its capabilities? The three goals of the organization are financial results, customer satisfaction and employee satisfaction. The success of the hotel depended upon these three things working in perfect harmony together. Mark placed major focus on the people aspect in order to yield the results he wanted at every angle. Placing emphasis on people led the hotel to focus on hiring individuals that shared the same values. If you were the general manager...

Words: 507 - Pages: 3

Premium Essay

Employee Engagement (Ritz-Carlton)

...engagement model 4 Work 5 Opportunities 5 Quality of Life 5 Policies and Practices 6 People 6 Reward 7 Employee Engagement measure 7 Conclusion 8 References 9 Introduction In the hospitality industry, the employees play a crucial role in satisfying the customers. Top-performing managers recognize that having high-performing employees is essential for growth and survival in business (Harvard Business Review, 2013). Three out of four managers consider employee engagement as the key factor to the overall success of an organization (Harvard Business Review, 2013). Employees that are positively engaged in the company’s business have higher productivity and end up bringing more profit. It, essentially, engages the workers to perform for the best of the company (Harter, Schmidt, & Hayes, 2002). Employee engagement quickly became one of the holding pillars for Ritz-Carlton’s success. In the overall engagement ranking of groups that Gallup is researching, Ritz-Carlton is placed in the upper quartile compared to other companies (Robison, 2008). Results in employee turnover rates are also renown for the industry: 18% instead of the 158%, 136% and 129% industry averages for line, supervisor and management employees respectively (Robison, 2008). Their approach to the different segments of employee engagement is best described through the AON Hewitt Engagement Model. Aon Hewitt engagement model Aon Hewitt attributes improvements in employee performance to psychological...

Words: 1655 - Pages: 7

Free Essay

Emotional Intelligence

...• DM -conscious process of making choices among >1 alternatives - achieve some desired outcomes.(M-O-T) • When no of options increases & *information X all quantified, OL must rely on intuition /gut feeling to MD. • leaders most likely to make right decision using feeling are 1 with S-A. able to discriminate {}irrelevant, misleading / correct feelings. • means EI enables leader to tune into gut feelings r most accurate &helpful in making difficult decisions (C & G) • Sometimes emotions form preferences before we consciously evaluate choices, leading to potentially inaccurate or more risky decisions. depending on moods & emotions of leaders, decisions fluctuate & is refore inconsistent. In such situations, decision made by leaders could become ineffective. essay, a comparative study made to assess how EI can eir -> more effective DM/ some circumstances lead to ineffective decision. Supporting case studies drawn to assist evaluation of both sides comparison. • • EI is a person’s basic underlying capability to recognise & use emotion. (Gowing), combination of competencies x5. (Goleman) • Gardner,ability to recognise own emotions & to express those feelings to ors is *for leaders to take advantage & use ir positive emotions to facilitate organisational performance. extent to which leaders use emotions -> direct cognition is *in workplace, with leaders MD based on emotional information can make more effective & efficient...

Words: 851 - Pages: 4

Premium Essay

Case

...SANDRA J. SUCHER STACY E. MCMANUS The Ritz-Carlton Hotel Company op yo The Master said, Govern the people by regulations, keep order among them by chastisements, and they will flee from you, and lose all self-respect. Govern them by moral force, keep order among them by ritual, and they will keep their self-respect and come to you of their own accord. — The Analects of Confucius tC James McBride, general manager of the new Ritz-Carlton in Washington, D.C., faced the largest challenge of his successful career. A proven veteran of the luxury hotel chain’s march across Asia, McBride’s most recent assignment was as the general manager of the 248-room Ritz-Carlton in Kuala Lumpur. Opened in 1998, the hotel was named “Best Hotel in Asia-Pacific” in the eighth Business Traveler Asia/Pacific magazine Travel Awards Subscribers’ Survey and, for two consecutive years, “Best Business Hotel in Malaysia” by Business Asia and Bloomberg Television.1 As Nikheel Advani, food and beverage services director for the Washington hotel, noted: “James is excellent—we have opened many hotels together. In the place where you didn’t think that it had a chance, he made it the best hotel. That’s his talent. That’s what he can do really well. It’s for the entrepreneurial person who wants to get involved and who thinks they can make a difference.” Do No But this was a new situation, even for McBride. For the first time, The Ritz-Carlton was opening a hotel that was part...

Words: 16403 - Pages: 66

Free Essay

Blue Navis

...Excellent Customer Service at Your Restaurant As a restaurant owner, great customer service is essential to your success. How do you deliver excellent customer service at your restaurant? First, let’s define it: customer service is the assistance and advice you provide to your diners. Customer service is equal parts communication and genuine attention to your diners. (tweet this) When guests visit your restaurant, you want them to feel welcome. When you treat them with care and respect while providing an excellent meal, they’ll come back to your restaurant again and again. Satisfied customers are integral to your business model. According to a Harvard Business School study on Starbucks, customer satisfaction has a massive impact on your revenue. Regarding Starbucks, they found that the satisfied customer visits 4.3 times per month, spends $4.06 and is a customer for 4.4 years. They went on to find that thehighly satisfied customer visits 7.2 times per month, spends $4.42 and is a customer for 8.3 years. That’s great, but what happens when you have a dissatisfied customer? In a Customer Experience Report, researchers found that the #1 reason customers abandon a brand is due to poor quality and rude customer service. These items were cited 18% more often than slow or untimely service. Combined, these two studies describe the importance of excellent customer service. They suggest that great customer service can make or break your restaurant. So, in this blog post, we’re going...

Words: 3542 - Pages: 15

Premium Essay

Unit 2

...Chapter Web resources for this chapter include • OM Tools Software • Animated Demo Quality Management In this chapter you will learn about . . . ● What is Quality? ● Quality Management System ● Quality Tools ● TQM and QMS ● The Focus of Quality Management-Customers ● The Role of Employees in Quality Improvement ● Quality in Services ● Six Sigma ● The Cost of Quality ● The Effect of Quality Management on Productivity ● Quality Awards ● ISO 9000 2 Problems • Internet Exercises • Online Practice Quizzes • Lecture Slides in PowerPoint • Virtual Tours • Company and Resource Weblinks www.wiley.com/college/russell Quality Management at GREEN MOUNTAIN COFFEE ike wine, coffee quality is judged on attributes like fragrance, aroma, acidity, body, flavor, balance, and finish. Coffee professionals use words like “lush,” “complex,” and “fruity” to describe their evaluations, which are based on precise sensory criteria. Coffee Review, one of the most respected and widely read coffee publications in the world, rates coffees based on a 100-point scale, similar to the one used in the wine industry. Coffee connoisseurs seek out coffees awarded a rating of 80 or above. Each year GREEN MOUNTAIN submits coffee to Coffee Review for independent reviews. On average, Green Mountain L Copyright © 2007 John Wiley & Sons Chapter 2 • Quality Management 53 coffees scored 88.8 points—significantly higher than their better-known west coast and European competitors—and...

Words: 31668 - Pages: 127

Free Essay

Spa & Wellness Industry

...http://www.nckvietnam.com Understanding the Global Spa Industry http://www.nckvietnam.com This page intentionally left blank http://www.nckvietnam.com Understanding the Global Spa Industry: Spa Management Marc Cohen and Gerard Bodeker AMSTERDAM • BOSTON • HEIDELBERG • LONDON • NEWYORK • OXFORD • PARIS • SAN DIEGO • SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier http://www.nckvietnam.com Butterworth-Heinemann is an imprint of Elsevier Linacre House, Jordan Hill, Oxford OX2 8DP, UK 30 Corporate Drive, Suite 400, Burlington, MA01803, USA First edition 2008 Copyright © 2008 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively you can submit your request online by visiting the Elsevier web site at http:/ /elsevier.com/locate/permissions, and selecting Obtaining permission to use Elsevier material Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any...

Words: 153860 - Pages: 616

Premium Essay

Canhan

...4 TH EDITION Managing and Using Information Systems A Strategic Approach KERI E. PEARLSON KP Partners CAROL S. SAUNDERS University of Central Florida JOHN WILEY & SONS, INC. To Yale & Hana To Rusty, Russell &Kristin VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR EDITORIAL ASSISTANT MARKETING MANAGER DESIGN DIRECTOR SENIOR DESIGNER SENIOR PRODUCTION EDITOR SENIOR MEDIA EDITOR PRODUCTION MANAGEMENT SERVICES This book is printed on acid-free paper. Don Fowley Beth Lang Golub Lyle Curry Carly DeCandia Harry Nolan Kevin Murphy Patricia McFadden Lauren Sapira Pine Tree Composition Copyright  2010 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201) 748-6011, fax (201) 748-6008, website www.wiley.com/go/permissions. To order books or for customer service please, call 1-800-CALL WILEY (225-5945)...

Words: 175164 - Pages: 701

Premium Essay

Business and Management

...4 TH EDITION Managing and Using Information Systems A Strategic Approach KERI E. PEARLSON KP Partners CAROL S. SAUNDERS University of Central Florida JOHN WILEY & SONS, INC. To Yale & Hana To Rusty, Russell &Kristin VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR EDITORIAL ASSISTANT MARKETING MANAGER DESIGN DIRECTOR SENIOR DESIGNER SENIOR PRODUCTION EDITOR SENIOR MEDIA EDITOR PRODUCTION MANAGEMENT SERVICES This book is printed on acid-free paper. Don Fowley Beth Lang Golub Lyle Curry Carly DeCandia Harry Nolan Kevin Murphy Patricia McFadden Lauren Sapira Pine Tree Composition Copyright  2010 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201) 748-6011, fax (201) 748-6008, website www.wiley.com/go/permissions. To order books or for customer service please, call 1-800-CALL WILEY (225-5945)...

Words: 175164 - Pages: 701

Premium Essay

Mis Book

...4 TH EDITION Managing and Using Information Systems A Strategic Approach KERI E. PEARLSON KP Partners CAROL S. SAUNDERS University of Central Florida JOHN WILEY & SONS, INC. To Yale & Hana To Rusty, Russell &Kristin VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR EDITORIAL ASSISTANT MARKETING MANAGER DESIGN DIRECTOR SENIOR DESIGNER SENIOR PRODUCTION EDITOR SENIOR MEDIA EDITOR PRODUCTION MANAGEMENT SERVICES Don Fowley Beth Lang Golub Lyle Curry Carly DeCandia Harry Nolan Kevin Murphy Patricia McFadden Lauren Sapira Pine Tree Composition This book is printed on acid-free paper. Copyright  2010 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201) 748-6011, fax (201) 748-6008, website www.wiley.com/go/permissions. To order books or for customer service please...

Words: 175167 - Pages: 701