Final Business Model and Strategic Plan
Executive Summary
Vision
The Travelodge Hotel has the vision to meet the demands of its customers through the best hospitality services in the industry while also offering quality accommodation order to maximize the experience of the customers.
The Travelodge Hotel has a mission to increase the focus of the customer through a diversified service portfolio and also to ensure both physical and economic accessibility of their services to their customers.
App Rollout
The Travelodge Hotel will roll out a new mobile application to enhance the accessibility of the hotel, especially to the people who are very mobile. Among the features in the mobile application includes making bookings and check-outs, enabling the use of the Smartphone as a key for the assigned hotel room and making orders for room service.
Risk Management Plan
The design of the risk management plan at Travelodge Hotel makes it necessary for the analysis of both the internal and external risks in the organization. The analysis of the internal and external risks generates a body of information based in which the organization can determine the best risk management process. Through this information, the organization will decide on the risk management option to used for the various risks Risk analysis will be done on a continual basis so as to ensure that the organization is up-to-date
Change Management Plan
Periodic changes to adapt the structure of the company, its marketing plan and introducing innovative services and products will characterize the landscape of the organization. The change management plan of Travelodge Hotel requires that changes in the organization structure require the backing of the board and other stakeholders. However, the manager has the sole discretion of changing the marketing plan and sanctioning the introduction of new and innovative products and services. The employees will be trained on the new changes as part of the change management plan.
Value Proposition
Travelodge company structure is also split into these activities, and its primary activities are subcategorized as; operations department, inbound and outbound logistics, and sales and marketing services department. On the other hand, support activities of Travelodge are firm infrastructure, human resource management, technology development, and procurement.
Risk and Change Management Plan
At different points in the life of an organization, change is an inevitable part of the organization’s adaptation to the dynamic conditions in the market. Businesses also undergo different risks, and as such need to have a clear risk management plan. The design of the risk management plan at Travelodge Hotel makes it necessary for the analysis of both the internal and external risks in the organization. The analysis of the internal and external risks generates a body of information based in which the organization can determine the best risk management process. For instance, the Travelodge Hotel can accept some risks while it is only prudent to transfer other risks to third party organizations that deal with risk management such as insurance firms. Risk analysis will be done on a continual basis so as to ensure that the organization is up-to-date (Lee, 2007).
Travelodge Hotel sees change as a necessary element in the process of adapting the hotel to the dynamics of the market. As such, periodic changes to adapt the structure of the company, its marketing plan and introducing innovative services and products will characterize the landscape of the organization. The change management plan of Travelodge Hotel requires that changes in the organization structure require the backing of the board and other stakeholders. However, the manager has the sole discretion of changing the marketing plan and sanctioning the introduction of new and innovative products and services. However, such changes will be adequately communicated to the employees. Additional measures will be initiated to ensure that the employees can cope with the changes within the organization.
Businesses in the contemporary society operate in an environment punctuated with technological feats. The technological avenues available to the Travelodge Hotel are some of the ways through which the hotel can reach its potential customers. As such, the marketing plan of the organization will among other things incorporate the social media platform as spheres through which the hotel can communicate its products to the customers. Additionally, the promotional activities of the hotel will also be communicated through mobile applications, print media, televisions and the official website of the hotel. The official website will be remodeled in order to provide feedback on a variety of variables that can be employed to assess the effectiveness of the promotional activities used.
Monitoring and Control
Monitoring and controlling the strategic plan of the Travelodge Hotel is vital for it sustainability and operability. The monitoring and control of the strategic plan will be done using the balanced scorecard. The balanced scorecard will be used to monitor and control the strategic plan on four perspectives. These include the financial perspective, the customer experience perspective, the internal operations perspectives and the learning and growth perspective. Through the balanced scorecard, the Travelodge Hotel can plan its activities in order to meet the organizational needs. Through the balanced scorecard, Travelodge Hotel can monitor and control the rate at which it achieves the expansion of its customer base, the performance of the new mobile application and the increase in revenue in addition to the outlined perspectives (Simchi-Levi, Wu & Shen, 2004).
The measures used in the monitoring and control are vital to the operational and financial advancement of the goals of the Travelodge Hotel. The measures can be used to determine the difference between the achievement and the targeted goals. Based on the difference, the organization can make operational changes in order to achieve the desired targets. Additionally, the measures regarding the financial performance of the organization can be used to inform changes on the expenditure of the organization on promotional activities among other things, and how this affects the achievement of the targeted goals.
Ethical, Legal and Regulatory Issues
The strategic plan of the hotel provides solutions to the various challenges to the development of the hotel. One of the ethical issues facing the hotel’s management is to ensure that the employees are fully apprised of the intended changes in the organizations. The information also entails the changes in the ethical requirements of the employees when delivering services to the customers under the new changes. The employees should also avoid any breeches in the code of ethics adopted by the organization. The organization has an obligation to ensure that the employees are satisfied with their duties (Lee, 2007). On a legal perspective, the Travelodge Hotel is legally responsible for abiding by all the laws at the local and state level. Additionally, the hotel has an obligation to abide by the industry regulatory standards. These include the health and safety rules, not just for the employees, but also for the customers.
Corporate Social Responsibility
The incorporation of corporate social responsibility into the corporate strategy of an organization is vital. This concept requires an organization to not only assess the effects that the operations of the organization have on the social welfare and the environment but also take responsibility (Lee & Kotler, 2013). The concept requires that the organization to go the extra effort to ensure that they protect the environment, beyond the requirements of regulations. The Travelodge Hotel will institute measures to ensure it reduces its carbon print in the efforts against global warming. The Travelodge Hotel will also enhance energy production through renewable means, pursue energy conservation, and recycling (Lee & Kotler, 2013).
References
Lee, I. (2007). E-Business Models, Services and Communications. New York: IGI Global.
Lee, N., & Kotler, P. (2013). Corporate social responsibility: Doing the most good for your company and your cause. Hoboken, N.J: Wiley.
Simchi-Levi, D., Wu, D., and Shen, Z. (2004). Handbook of Quantitative Supply Chain Analysis: Modelling in the E-Business Era. London, UK: Kluwer Academic Publishers.
