Business Management Several Provisions for Extrinsic Additional Facto

Question: Describe about the Several Provisions for Extrinsic Additional Factors for Business Management. Answer: Introduction Marriott International group of hotels is headquartered in Bethesda, Maryland in the United States, with more than 5,700 properties and operating in more than 110 countries. The total revenue of the selected company was observed to be $ 14 billion in the fiscal year 2015 (www.marriott.com. 2016). Objectives: The research aims to show the weakness in the HR management practices of Marriott International group of hotels. The main objectives of the research are listed below as follows: Analyses of the drawback of the HR practices of Marriott International group of hotels Motivational concerns among the employees of the company Implementation of HRM improvement process Rationale for the study The rationale for the study will explain the weakness in the recruitment process and increasing turnover of the organization. The research will also depicts the opportunities for better employee satisfaction and making necessary improvement in retaining of the employees hotel. Scope of the research The scope of the research will be based on studying the HR Practices in the selected organization. The limitations will be seen through the application of motivational theory such as Douglas McGregors X and Y theory and Maslows Hierarchy of Needs to study the reasons for the weakness prevailing in the motivation among the existing employees. The improvement process will be shown with the application of SWOT analysis of the collected information. The research will show both primary and secondary method for the data collection process. The report will be designed to analyze the findings based on graphical representation and charts. The latter part of the report will highlight the important issues for the weakness in the HR practices and the make the necessary recommendations and guidelines to improve the HR practices in the Marriott International group of hotels Questionnaires: The questions, which will be addressed in the research study, are stated below as follows: What are the issues concerning employees motivation and turnover at Marriott? What are the reasons for the weakness of HRM at Marriott? What are the developments, which can make to train and retain the present employees of the hotel? Literature Review According to Zhang, R et al. (2013), in the year, 1960 Douglas McGregor was known to propose a two-factor theory related to employee motivation. This theory was divided into two categories, namely theory X and theory Y. Theory X - The theory X employees are defined as those, who tend to avoid task and dislike the responsibilities assigned to them. The theory also stated that in order to promote effectiveness in work and motivation among employees the management needs to enforce the relevant rules and give punishments or take strict actions (Latham 2012). Theory Y - The theory Y of the motivational theory is directly related to the concept and contrast of the theory X. This theory states that the employees are internally motivated and they work better themselves. The theory further states that the employees do not need constant supervision of the management to stay motivated and perform better in the organization (Olkin and Marshall 2016). Hierarchy of Needs Theory According to Nordstrom and Renforth (2015), in the year 1943, Abraham Maslow proposed a theory consisting of five tiers to shape the motivation style in an organization. The theory suggested five different factors responsible for employee motivation; the theory further suggested that a company should look forward to move up the pyramid to ensure all the desired needs are met. The bottom of the pyramid consists of the physiological needs like sleep, shelter and food. The safety need is proposed to make up needs of second tier and third tier. The top of the pyramid included the need related to Esteem and self-actualization among the employees (Zavei and Jusan 2012). Figure 1: Maslow's Hierarchy of Needs (Source: Lester 2013) Strength, weakness, opportunities and threat (SWOT) analysis SWOT analysis is a planning tool to evaluate the four elements (Strength, weakness, opportunities and threat) of a particular business venture. The analysis can be performed on a product, person, company or a place. The overall analysis involves the process identifies the internal (Strengths and weakness) and the external (opportunities and threats) factors to achieve a specific objective (Suh 2014). Strength: It shows the characteristics of the business project, which shows the advantages of one policy or framework over others (Lin 2016). Weakness: This shows the characteristics of a particular place or a particular business venture, which shows the relative disadvantage in a particular project (Yu, Byun, and Lee 2014). Opportunities: These are elements, which a business should implement to exploit the areas of improvement in a particular venture. Threats: These are related to elements in the environment, which can possess trouble to a particular business or project (Lehr 2015). Figure 2: Model depicting SWOT analysis (Source: Hollensen 2015) Research Methodology The main objectives of the research process have been explained with the use of qualitative methods. This method explores the different types of idea behind the opinions, rationale and motivation behind the research data. The stages and description of the research methodology has been depicted with a diagram shown below as follow: Stages Description Identification of the data collection procedure 1) Primary data has been collected through conducting questionnaire from the employees of Marriott International group of hotels 2) Secondary data has been sourced from website of Marriott International group of hotels, books related to employee motivational theories and the management theories to overcome the relevant issues. Sources stating the secondary data 1) Internal sources of the secondary information have been collected from the annual report of Marriott International group of hotels. 2) External sources range from the books related to motivational theories, Newspaper, articles and company website Means of collection for different types of the primary data The primary data has been collected in form of interviews from the employees and managers of Marriott International group of hotels. Consideration of the Sampling Frame The main sampling frame has been taken through the employer and managers of the company. Size of the sample The sample size consists of a total of 2 Managers and 2 employees of Marriott International group of hotel Data Analysis procedure The data analysis has been done based on the qualitative analysis procedure Resources The resources are seen in form of the implementation of Time, Personnel and various types Financial requirements Milestones for the Improvement process Description Timeframe Identification of the HR issues at Marriott International 12.11.2016- 16.11.2016 Identification of factors for motivation of the employees 16.01.2017-20.03.2017 Conducting the questionnaire process 21.03.2017-22.04.2017 Implementation of theory X and theory Y 23.04.2017-25.07.2017 Implementation of hierarchy of needs 26.08.2017-27.08.2017 Implementation of the improvement process 28.08.2017- 30.09.2017 Gantt chart showing the appropriate timeframe of the research specifications: Data analysis and findings Primary data analysis Theory X and Theory Y The analysis of the different types of the analysis of the weakness in the HRM practices clearly states that the employees at Marriott international has to go through authoritarian style of management where the work pressure is considerably high during the peak seasons and hence the lack work life balance. It can be observed that at present the management is following Theory X as a motivational tool for the employees. Hierarchy of Needs Theory The various responses collected from the participants shows that the employees at Marriott International group of hotel suffered mainly due to the love and belonging needs. These needs are directly relevant to the tier 3 needs of Maslows hierarchy of needs model. The responses collected from the interview clearly shows that the employee lack interpersonal and needs related to belongingness. The overall analysis clearly states that the employees at Marriott international group of hotel lacking terms of time for work life balance, friendship, intimacy and family. SWOT Analysis Strengths As per the responses given by both managers and employees at Marriott international reported, the main strength of the company is seen in form of financial benefits provided for our performance even during the peak seasons. The employees have a significant amount of extrinsic motivation within the organization Weakness The weakness is seen in form failure to inculcate intrinsic motivation. The weakness in human resource management is also seen in terms of increased amount of turnover among the employees. Poor training provided to the new joining employees is also seen as a weakness in the HRM. Opportunities The organization has shown several scopes of opportunities in terms of providing better training facilities and better facilities for emphasizing on social life of the employees. The company should also work on providing better health insurance benefit to the existing employees of the organization. Threats The main threats are seen in form of increased employee turnover rate if correctional measures are not taken at the earliest. The employees may also join other renowned hotels such as hotels such as Armani Hotel, Auberge du Soliel, Nobis hotel Stockholm and Ritz carlton. Secondary data analysis The secondary data analysis is based on website, books, annual report and journals is shown below as follows: Theory X and Theory Y Based on the various information collected from websites and journals it has been found that the company applies Theory X for deciding employee motivation. This is evident from the fact that the management is a significant role during the peak season by offering several performances and even bonus for better customer service and extension of services. Hierarchy of Needs Theory As per the model of hierarchy of needs, the company mainly lacks in the third tire, which is related to Love and belongingness needs. Several journals have stated that the most significant reason for increased employee turnover was due to lesser opportunities given to the Marriott employees for spending adequate time with their family members, which deprived them of work life balance. SWOT Analysis Strengths The strength of the Marriott Group of hotel lies in the high brand value of the company. It is also known for making several technological improvements in its current business process. Marriott International hotel has 5700 hotels and is situated in more than 110 countries all across the globe. The hotel is further known for having various ranges of the brands from attainable to aspiration related. Weakness The weakness of the company lies in lower employee motivation and the competition faced from the several hotels such as Belmond Ltd, Hyatt International, Eldorado resorts etc. The shares of the aforementioned companies have been found to be higher than the Marriott International group of hotels. Opportunities The main opportunity is seen in terms of providing better employee motivation and better amenities to the existing employees. The several types of the opportunities in the hospitality have been seen with then emerging markets dealing in similar line of the business. Threats The most noted threat includes the entry of several international brands along with the most established brands of hotels such as Armani Hotel, Auberge du Soliel, Nobis hotel Stockholm, Ritz Carlton, The Table Bay hotel. The present threat of then hotel industry also lies in the stagnant growth and competitive process in of the several groups of five start hotels on the world. Conclusion and recommendations The analysis conducted both on primary and secondary data clearly shows that although the company gave several provisions for extrinsic additional factors such as performance incentives, employee bonus and better financial growth, it significantly lacks in terms of providing intrinsic motivation to the employees. The company needs to adapt to the style of theory Y of motivation, which will involve lesser interference of the management and employees, will be able to perform freely and stay motivated in a better way. The organization should give the opportunity for recognizing intrinsic motivation among the existing employees. The company also needs to provide high quality training to the new joining employees so that they are able to get acquainted with the company policies and framework at a very initial stage. The human resource management practices should further ensure that the employees are given better facilities for health insurance and gave more number of leaves to the employe es so that they can fulfill their love and belonging needs as per stated by the hierarchy of needs theory. Reference list Hollensen, S., 2015.Marketing management: A relationship approach. Pearson Education. Latham, G.P., 2012.Work motivation: History, theory, research, and practice. Sage. Lehr, D.D., 2015. 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