... not because it is long established or because it is big , but because there are men and women in it who live it, sleep it, dream it, and build great future plans for it ) Great place to work and best companies to work for lists in the US and abroad re present the most definitive employer of choice and workplace culture quality recognition accompany can receive, and From the 100 best company listed, I would like to choose Marriott International Inc and Navy Federal Credit Union to compare between them regard size, product, vision and mission. First, Marriott international Inc is a global leading loading company based in Bethesda, Maryland, USA with more than 4000 properties and more than 690,000 rooms in 78 countries and territories. Marriott International reported revenues of nearly $13 billion in fiscal year 2013. The company operates and franchises hotels and licenses vacation ownership resorts fewer than 18 brands, including Marriott Hotels, The Ritz-Carlton, JW Marriott, etc. Marriott has been consistently recognized as a top employer and for its superior business ethics. Secondly, Navy Federal Credit Union is the largest natural member or retail Credit Union in the United State, both in assets size and in membership. As of August 2014 Navy Federal Credit Union had over $6 billion in assets, and over 5 million member and there 11,186 employ working for the company . ...
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...will keep coming back..." This is one of Marriott International's most important and enduring principles. The company's Awards of Excellence program is one of the ways Marriott celebrates its associates and how the company especially honors those associates and business units that exemplify this legendary spirit to serve the customer, the community and coworkers. In 2011, we celebrate the 25th anniversary of this prestigious recognition program. [pic] |[pic] | |J. Willard Marriott Award of Excellence | | | |[pic] | | | |[pic] | | | |Established in 1987, the J. Willard Marriott Award of Excellence honors Marriott International's finest associates for their...
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...HR Professionals as Strategic Partner in Marriott’s Talent Management Table of Contents Introduction………………………………………………………………………………………3 Executive summary………………………………………………………………………............3 Organizational Profile……………………………………………………………………..3 Organizational Vision……………………………………………………………………..4 Organizational Mission……………………………………………………………………5 Human Resource Profile…………………………………………………………………..5 Economic context………………………………………………………………………….6 Political and regulatory context…………………………………………………………...8 Competitor analysis……………………………………………………………………….8 Operations Infrastructure………………………………………………………………….9 Organizational Perspective...……………………………………………………………………9 Key Performance Indicators and Analysis..………………………………………………9 Core Values……………………………....………………………………………………10 Measurement..…………………………....………………………………………………10 Cultural Perspective..…………………………………………………………………………..12 Cultural Categories and Analysis...……………………………………………………...12 People First……………………………....………………………………………………12 Pursue Excellence..……………………....………………………………………………12 HR as strategic partner………………………………………………………………………...11 Talent management is all about putting people in the right jobs………………………...13 The talent pipeline is only as strong as its weakest link…………………………………15 References……………………………………………………………………………………….16 Introduction Marriott is a leading lodging company based in Bethesda, Maryland, USA, with more than 3,900 properties in 72 countries and territories and reported revenues...
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...On August 13, 2014 at 9:54 pm, Pacific Business News (PBN) announced the closure of JW Marriott Ihilani Resort and Spa at Ko ʻOlina Resort. Also in this article, the Marriot’s management contract ends on December 31, 2014. There have been speculations that Four Seasons hotel bought the JW Marriot Ihilani Resort, but is not yet confirmed. Because of this proclamation that the JW Marriot Ihilani will be closing, there will be many changes in the organization in all levels of positions. Currently, there are 500 employees that are non-union members that who are affected from this closure. Due to this closure, this will result in employee layoffs, positive or negative employee morale and the struggle of finding new jobs for the employees. The way a company manages this change and assist employees through the transition will make a big impact in the organization as a whole. The change that is happening within Ihilani due to this closure is similar to what other organizations go through as well. Personally, I’ve experienced having to go through the changes in the organization when I used to work for a sushi restaurant called “Sushi Go” as a hostess/waitress. A month before it was announced that the company was closing, there were a lot of changes happening in the organization. There was a rumor among employees that the restaurant was in the verge of closing, but I thought it was a false hoax. However, once we started experiencing major changes, I felt that the rumor was valid. ...
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...------------------------------------------------- Abstract: The case examines Marriott International's (Marriott) various innovative HR practices, which earned it the reputation of being 'the best place to work' in the hospitality industry. It describes Marriott's 'Spirit to Serve' culture and the company's HR philosophy which guided its various HR initiatives. The case gives an overview of the best practices employed by the company in the recruitment, selection, training and development of employees. It also details the employee retention strategies and grievance redressal system at Marriott. Finally, the case reviews the benefits reaped by the company because of its employee friendly HR practices. | | ------------------------------------------------- Issues: » Understand the role of an organizational philosophy and culture in the development of human resource policies in a multinational organization » Get insights into the HR best practices of a large global service organization » Understand the role of employee development programs for retaining employees and improving organizational productivity » Appreciate the benefits that accrue to an organization through the use of employee-friendly policies ------------------------------------------------- The Spirit to Serve Once, when a customer checked in at an Anaheim Marriott hotel, she was in a very disturbed state of mind. It was on her way to the hotel that she learnt of her sister's death. The worst part...
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...I chose to research and evaluate Marriot Hotels, human resource (HR) and business strategy, their current HR department job positions, and different ways Marriot markets its company regarding human capital. Marriot International, Inc. is a leading hospitality company with more than 3,900 properties, 18 brands, and associates at our headquarters, managed and franchised properties around the world (Aruba Marriott Resort & Stellaris Casino). Founded by J. Willard and Alice Marriott and guided by Marriott family leadership for more than 80 years, the company is headquartered in Bethesda, Maryland, USA, and reported revenues of nearly $13 billion in fiscal year 2013(Aruba Marriott Resort & Stellaris Casino). For the success of this company, the human resource department is responsible for workforce planning, performance management and talent acquisition. To ensure the human resource strategy is aligned with Marriott’s business strategy and ensure it maintains its competitive advantage first I would gather information by assessing all internal capabilities and resources to determine the company’s strengths and weaknesses (Stewart p.41). Assess potential threats and opportunities in relation to the company’s future goals and job opportunities. This information is critical in helping a company know what, and how many good and services to provide. Currently Marriot has over 27 different job postings available. These positions range from front office support, vacation coordinator...
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...Recruitment is the process of finding and hiring the best-qualified candidate for a job opening, in a timely and cost effective manner. It is included selection, hiring and integrating the new employee to the organization. In our case, JW Marriott Hotel and Ritz-Carlton Hotel has the same HR department. They use the same process in recruitment and selection. The company has provided many methods to issue the application form via youth groups, communities, newspaper, Internet and recruitment day in the company. Based on application form and skill tests for candidates, also an online assessment is required. It provided questions about the job-related and their mentation to evaluate whether the job position is suitable for the candidates or not. The best candidates will arranged to have interview to check their working experience, educational background and knowledge about the job-related. That is the reason why the process of recruitment and selection is the most costly.In addition, Mr. Wong has mentioned that they have to hire many people because the turnover rate of the company is high in every year. In Macau, there are many companies may hire low quality employees, it contributed to high turnover rate due to the gaming industries have high salary for front line staff, people’s expectations on salary is always increasing. The competition is based on salary between business. Also, the companies are lack of professionals to take on senior managerial position which may lead to the...
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... • 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 which could have a huge impact on the future success of the company. With this report we want to point out these training methods, both sides of the medal with advantages and disadvantages and come at the end to a realistic approach for a solution. Short Historical Overview: The history of the Ritz-Carlton Hotel goes back to...
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...экономики и финансов фирмы Домашнее задание №8 По курсу «Корпоративные финансы-2» Кейс на тему «Анализ дивидендной политики компании «Mariott» Выполнили студенты: Группа 1 Абдухамидов Антон Гусамов Степан Данилова Екатерина Жегусов Владимир Исайчев Дмитрий Козловская Анна Москва 2011 Цель работы: Проанализировать решение компании по выкупу акций Задачи: * Дать описание компании и ее положения на рынке * Обосновать решение компании на основе теории * Провести практический анализ решений компании * Сделать выводы по проделанной работе Постановка проблемы Компания “Marriott” считает, что ее акций существенно недооценены (на рынке торгуются по цене $19,625). В связи с этим компания планирует выкупить 10 млн. акций (из 32 млн. выпущенных). Однако, выкупать акции планирует по цене на $4 выше текущей рыночной. Описание компании Marriott Corporation была основа в 1927 году. Изначально, компания специализировалась на ресторанном бизнесе и предоставляла контрактные услуги по обеспечению питанием на самолетах. В начале 40-х годов компания начинает предоставлять услуги в сфере гостиничного бизнеса. Гостиничный бизнес (35% выручки): компания распоряжается 23,000 комнат в 55 отелях, расположенных, в основном, в США. 70% комнат принадлежат внешним инвесторам и управляются компанией на основе 70-летних соглашений. Контрактное питание (32% выручки): компания предоставляет услуги широкому спектру клиентов. Ресторанный бизнес (25% выручки): компания...
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...Springfield Marriott there are 262 rooms with 9 floors and it is a full-service hotel. The property from the outside does not look very impressive, but once you get the grand tour you could say you just might change your mind. Bill Hess, the General Manager gave us a tour of the hotel after his interview, it was a spectacular experience.. Inside of the hotel, adjacent to the garden area there are several banquet halls named after local areas such as “Berkshire”. The full-service aspect is provided by the Champions Sports Bar, Currents Restaurant, and Currents Bar. These food establishments bring in large amounts of revenue and help serve guests the options of breakfast, lunch, and dinner as well as some entertainment. The Marriott has a wide selection of target guests for these dining establishments, including groups outside of travelers. The Champions Sports Bar helps the hotel pick up revenue from locations such as the Basketball Hall of Fame. The major hotel market segments primarily include transient travelers and group guests. Of the transient guests, the hotel’s specific target is a ‘business’ transient guest, many of which have open contracts with the hotel. One of the companies who provide frequent business travelers to the hotel includes Smith and Wesson Gun Company located in Springfield, MA. Usually happens with these company business travelers have multiple open contracts with hotels in the local area such as the Sheraton located next door to the Springfield Marriott. Once...
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...companies by the name of Marriott International, Inc. & Nordstrom, Inc. They differ in many ways and also have some minor similarities, which I will later illustrate in my paper below. They are two different companies that evolve in two different activities. One is a retail company (Nordstrom) and the other is a hospitality service company (Marriott). They are both major corporation and are well know in the United States market. Marriott International, Inc. is an American global leading lodging company whose headquarters is based in Bethesda, Maryland with over 4,200 properties and is present in 80 countries. Nordstrom Inc. is a well-known and respected American upscale fashion retail company with 271 stores with full operations in 36 states in America. Being a company that was founded on May 15, 1927 by John Willard Marriott, the family legacy still stand strong and Bill Marriott took over from his father and managed the hotel as a CEO for the longest. He recently, in 2012 handed over the CEO tittle to Arne Sorenson while he takes on the tittle of Executive Chairman. John and his wife Alice started by opening a root bear stand in Washington DC. As small as they were, they managed to see beyond and concluded the residents of DC needed a cool place to go and sit quietly and have a cool drink. In the years that followed, they decided to expand into a chain of restaurants and hotels. After many years in the industry they opened their very first ever Marriott by the name of Twin...
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...Marriott Corporation: The Cost of Capital (Abridged) Dan Cohrs, Vice President of Marriott Corporations project finance, prepared his annual recommendations for the hurdle rates. The year before, Marriott’s sales grew 24%, sales and earnings per share had doubled the last 4 years and the ROE stood at 22%. The strategy of Marriott was to remain a growth company. The goal was to be one of most preferred employer, the most profitable company and a preferred provider. The financial strategy of Marriott was about 4 criteria: 1. Manage rather than own Hotels assets 2. Invest in projects that increase shareholder value 3. Optimize the use of dept in the capital structure 4. Repurchase undervalued shares. Manage rather than own hotels assets Marriott became on of the largest commercial real estate developers in the US. Marriott sold hotels assets to limited partners but retained operating control as the general partner. 3% of revenue and 20% profit before depreciation typically equalled management fees. During 1987, 70 Courtyard hotels and 3 Marriott hotels were syndicated $890.000.000. The company operated about $7 billion worth oft he syndicated hotels in total. Invest in projects that increase shareholder value The company uses a discount cash flow technique and the hurdle rates to a specific project that was based on market interest rates, project risk and estimates of premium risk. They also used a cash flow forecast. Optimize the use of debt in the capital...
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...Featured Chapter Creating a Strategic Direction Visions and Values Paul Olk, Peter Rainsford, and Tsungting Chung ncreased globalization and the incorporation of many new information technology (IT) tools have enhanced the need for top management to set a clear strategic vision for a company. As market demands and the ability to communicate globally encourage companies to continue to expand into new geographical and product markets—and as they also enter into long-term buyer-supplier relationships or contract out activities previously conducted internally—companies are spread more thinly. This creates a challenge of how to coordinate all of the activities conducted around the globe and by partner organizations. While sophisticated software programs (e.g., enterprise resource planning [ERP]) or intranet capabilities enhance internal communication, these are not adequate. Establishing and maintaining a consistent strategic direction for the company begins with setting a clear vision for the company. A strategic vision provides multiple benefits to a company. First, it presents a broadly shared sense of organizational direction and purpose. Direction is needed because few organizations have achieved greatness by being all things to all consumers. To instill a purpose, most successful companies achieved their leadership position by adopting a vision far greater than their resource base and competencies would allow (de Kluyver & Pearce, 2002; Hamel & Prahalad, 1989). A vision...
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...1 Marriott Corporation: Cost of Capital Analysis In this paper, I shall attempt to determine the optimal cost of capital for Marriott Corporation using the WACC method and compare it against the cost of capital of a division with the firm to determine the implications of using a “firm wide” cost of capital Cost of Capital for the firm Based on the data given in the case, the beta equity for Marriott Corporation is currently set at 1.11. However, given the changes in the debt component in Marriott’s capital structure over the years, it is essential that we re-calculate the actual value of βequity using the unlevered beta βasset. For this purpose, we first use the average Debt/Total capital ratio for Marriott over the past 5 years as 0.497. Since Debt/Capital for the past 5 years is 0.497, the average D/E for this period is 0.988 (=0.497/0.503). Using the formula for unlevered beta, the beta for the asset can be calculated as, ( ) = as, . Using the target debt to capital ratio for Marriott as 0.60, we can re-calculate the equity ( ) Since we have the βequity, we can calculate the cost of equity using the CAPM as, Requity = Rf + βequity*(Rm – Rf) From the data, we use Rf as 8.95% and the equity risk premium as 7.43% (average spread between S&P 500 and long term US bonds). Substituting these values, we get the equity cost of capital as, Requity = .0895 + 1.273*(0.0743) = 18.40% To calculate cost of debt, we consider the spread over the long term US government bond...
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...SUMMARY Rosewood Hotels & Resorts (Rosewood) was a group of private iconic luxury hotels without any corporate branding in 2004. To boost the company’s growth, the then CEO and Vice President decided to bring about corporate branding of Rosewood hotels but also wanted to maintain its distinctiveness of each individually branded hotel. CURRENT SCENARIO As of 2003, Rosewood had 12 hotels worldwide with a total capacity of 1513 rooms. The nightly rates ranged from $120 for one of the Saudi Arabian properties to $900 for a Canadian lodge. Rosewood was known for its ability to enhance its property’s value by being unique and differentiated from the regular chain of hotels. But on the competitive front they did compete with corporate branded hotels like Four Seasons, Ritz-Carlton, St. Regis, One & Only and Mandarin Oriental Hotels. And they also competed with collections of individually branded hotels like Auberge, Rock Resorts and Orient Express. Rosewood had continued to brand itself as an individual collection as it wanted to support its core value of “Sense of Place”, where each hotel exhibited its local character, culture and design. The individual hotel names were more prominent than the Rosewood brand itself. In April 2003, John Scott was taking over the CEO position in Rosewood, realized the limitations of individual branding. He realized that while the guests sought the unique Rosewood property experience, they didn’t make connections to other Rosewood...
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