LEARNER’S NAME: EMMANUEL DIBIAGWU ASSIGNMENT 2 UNDERSTAND HOW TO DEVELOP AND MAINTAIN EFFECTIVE WORKING RELATIONSHIPS 1.1 Explain the benefits of effective working relationships in developing and maintaining the team (20 marks) The benefits of effective working relationship in developing a team include the following: Improved Morale Good working relationships in teams help to improve the morale of team members. When there is effective working relationship among employees as well as managers, the employees feel that they are respected, and their voice are heard, thereby fostering an enabling workplace full of energy and overall happiness. Effective working relationship between employees enables them to support each other when improvement is called for and helps to develop their esteem.
Organizational Structure Bank of America is an American financial services corporation and is the second largest bank holding organization by assets, in the United States. The headquarter of the financial organization is situated in Charlotte, North Carolina. The bank has approximately 5,700 retail banking offices and 17,250 ATMs in the United States. The online banking system of the bank has more than 30 million active users.
Do you know the importance of having a hierarchy structure within any given work space? Without structure there would be no clear line of communication between workers. Having a structure in a workplace establishes communication skills, defuses conflicts, and also provides awareness of leaders who are in charge of you.
Introduction: Marriott International Inc. - Marriott International, Inc. is one of the top leading hospitality company in the world. J. Willard and Alice Marriott were the founder of the company. From past 80 years, it has always been looked under the guidance of Marriott family. The headquarter of the company is situated in Bethesda, Maryland, USA. The company revenue for fiscal year 2013 was estimated to be $13 billion dollars.
INTRODUCTION The word ‘team’ can be defined as a group of people working together towards a common goal. A team also generally is known as a group of people with different skills and different tasks, who works together on a common project, services, or goal. Then, the important thing in teamwork is ‘collaboration’, which is the act of working effectively with others to achieve a common goal. Collaboration acts as the lifeblood in the team, even the team is not large enough, but the collaboration is required.
Intercontinental Hotels is using the market differentiation strategy in segmenting its market into appropriate market divisions based on characteristics of the varying needs and characteristics of the target markets. The company has more than 3500 hotels in over 100 countries with around 535000 guest rooms. It has established a substantial customer base with over 120million customers whose preferences vary based on price and quality expectations. The Intercontinental group is made up of many brands such as the Intercontinental Hotels and Resorts, Holiday Inn Garden Court, Crown Plaza Hotels & Resorts, SunSpree, Holiday Inn, Staybridge Suites, Holiday Inn Family Suites Resort, Holiday Inn Express, Holiday Inn Select, Holiday Inn, and Candlewood
The Importance of a Company’s Culture The culture of a company is one of the most important and sometimes overlooked factors in an organization. The culture can increase employee engagement and increase productivity which will allow a company to reach its goals, “From productivity and engagement in the organization’s day-to-day, to an employer brand that naturally fuels recruiting efforts, to creating a lasting brand that customers immediately recognize, there’s no escaping it – culture radiates outward into the marketplace” (Straz 2015). The culture can have a great impact on the employees. Employees thrive in a positive working environment and the ability to engage with their managers without fear of retaliation.
It acts as an operating manual that defines the way the jobs are distributed and how individuals interact within the company to achieve their goals (Distelzweig, 2004). A detailed study on organizational structure relates organizational structure to the way information flows through the hierarchical arrangement. There are basically two types of organizational structure; centralized and decentralized. In a centralized system the highest layer of hierarchy is responsible for decision making and controlling departments and division.
Marriott International vs. Airbnb Although Marriott International has a competitive advantage of being the largest hotel company in the world, experiencing years of remarkable growth with the acquisition of Starwood Hotels, and ranking at number 163 on this year’s Fortune 500, it operates in a highly competitive market. The recent success of Airbnb, for example, has had major effects on the hotel industry as it has quickly become a threat. Airbnb, founded in 2008, is an online hospitality service that provides short-term lodging and unique travel accommodations around the world with more than 3,000,000 lodging listings in 65,000 cities and 191 countries.
Weighted average cost of capital for Marriot Corporation: In order to determine cost of capital, first we need to find out cost of equity and cost of debt. For determining the cost of equity we need to determine the beta for the target leverage ratio. According to the information provided by exhibit 3 equity beta is estimated at 0.97 when equity-to-total capital ratio is 0.59. Therefore we need to find unlevered beta value so that we can find firm’s equity beta at the desired leverage ratio as mentioned in Table A. Tax bracket of 44% is used based on ratio of income taxes to income before income taxes (175.9/398.9) in Exhibit 1.
