Company Analysis
Ritz-Carlton is one of the leading companies in the hospitality industry, with branches across the world. The corporation is an auxiliary of the Ritz-Carlton hotels, which runs over eighty-four sumptuousness hotels and resorts in main cities internationally. The company was formed in 1983 following the merger with another company with similar name that operated in Atlanta Georgia.
Presently, the organization is an ancillary of an international company referred to as Marriott International, which is known for its value and established monetary ability. A brief history of the corporation illustrates that it was created by a Swiss proprietor known as Cesar Ritz, who was an expert in matters related to hospitality, having been named the emperor of the hoteliers following his achievements in the industry.
Through his hospitality managerial skills, Ritz redefined luxury accommodation in various parts of the world that the hotel operated. The company entered into partnerships with several merchants with an aim of increasing the market share and strengthening the financial power. The first branch of the hotel was launched in the US in 1911.
Before the First World War, the company had developed roots in the United States and other parts of the world, particularly Europe, but its operations were greatly hampered by the war. The founder, Ritz, died in 1918 just before the conclusion of the First World War, but his wife took over the management of the organization.
Even though the company went through a number of challenges, such as the interruptions associated with First World War and the Great Depression, it is currently one of the best in the hospitality industry. This paper discusses several aspects of the company, including its interaction with customers, the strategy it employs, and its power to create distinguished ladies and gentlemen only seven days.
Ritz Carlton Experience
Recently, Ritz Carlton published a book that outlines some of the strategies that it employs in satisfying its esteemed customers. The book states that the use of Gold Standard is one of the strategies that play a critical role as far as delivery of quality service is concerned. Gold Standard is known to boost staff and customer loyalty, improve customer engagement processes, and development of the brand.
Additionally, the strategy offers customer and non-customer handling employees an opportunity to offer services based on their viewpoints and perspectives. The book shares the wisdom of the leadership of Ritz Carlton Company implying that the experience with the organization is positive.
The management is always concerned with hiring competent employees through a rigorous recruiting procedure that culminates to an extensive training process that brings out leaders with transformational leadership experience. Since the organization is concerned with excellence, it offers a responsible stewarding icon in the ever-competitive market.
This implies that the organization is quick to adjust its operations based on the changing needs of the customer and the hospitality industry in general. Ritz Carlton has been a market leader for several years owing to its capability to plan, find the best location for business, and enhance quality.
The views of many customers suggest that the experience of the company is characterized by service value implying that the type of products that the company offers to its customers is incomparable.
The organization has established partnerships with other market leaders in related industries, such as the airlines industry whereby it has a strong relationship with the world’s known airline companies, such as the Virgin Atlantic, the Guardian Angel, and Emirates Airlines. The services of the company are based on value addition meaning that the customer must notice the difference once he or she tries the service.
In the modern society, many people do not care about spending their money, as long as they are satisfied with the service offered. Based on this, the company is able to expand to an extent of overthrowing market leaders even in new regions.
One of the Ritz Carlton’s partners, chief marketing officer of community agency Colleen Brinkmann, compares the company with the Lexus since it sets its own standards in the market, which cannot be attained by competitors. In other words, other players in the industry are left imitating what the company does. Based on this, the essence of the experience with the company is personal, genuine, lively, courteous, and congenial.
The organization takes care of its clients and employees knowing that it cannot achieve its desired goals and objectives without them. Ritz Carlton has been engaging in various charitable activities, including promoting the welfare of the community. It played a critical role in shaping the life of a young girl named Natalie who was in need of urgent help to cure her condition.
It is concluded in this section that the experience of Ritz Carlton is based on strong leadership skills and commitment that believes in quality and respect for others. The organization is believed to be a legend in the hospitality industry due to its contribution to boost quality service. The experience of the company generates a luxuries lifestyle that gives opportunities to the hopeless customers.
Capabilities of Ritz Carlton and Major Strategies
The company is a multinational organization with various branches worldwide implying that it enjoys the economies of scale. It is able to produce goods and services at low prices given the fact that its financial potential is unmatched in the current hospitality market globally. Recently, it acquired properties worth billions of dollars, which have given it the much-needed financial power to outmuscle its competitors.
An organization operating at a global level has an opportunity of employing technology to boost sales and marketing strategies. The management underscores the fact that technology determines the success of any organization in the digital world. In this regard, technology is used in advertising the organization’s products and services.
For instance, the social media is employed effectively promoting the company’s products and services. Apart from technological and financial capabilities, the company is well endowed with competent staff that is highly trained and equipped with modern managerial skills.
Based on this, the type of leadership applied in the organization is transformation implying that the views and opinions of each employee are incorporated into the major decision-making mechanisms. Each employee is guided by the organization’s principles, which are believed to be strong and constructive when it comes to human resources management.
For instance, the first principle urges the employee to build strong relationships with other organizational members, which is known to attract customers.
Additionally, each employee is charged with the responsibility of ensuring that the expressed and unexpressed wishes and desires of the client are met. This means that all workers ought to be responsive to the needs of customers. These principles put the organization in an advantaged position as far as competition is concerned.
Through a well-established social corporate responsibility principle, the community acknowledges the organization for its service. In fact, many organizations have failed to achieve this when engaging with the community. When dealing with clients and the societal members in general, the organization insists on the three steps of service delivery.
The first step is welcoming the client with a sincere and warm greeting. In fact, the management maintains that the use of the client’s name in addressing him or her is critical since it develops a rapport. One of the customers who visited hotel’s branches was surprised with the service he received because the crew called his name several times.
Studies show that designing a business strategy is very simple, but the problem lies with its implementation. Therefore, Ritz Carlton is believed to be an able organization as far as policy implementation is concerned. As early noted, the organization executes a policy easily because it does not have a long chain of command, which is usually accused of delaying the implementation process.
An additional strategy is related to fulfilling the needs of the client in the best way possible. Based on this, the employee is urged to anticipate for any eventuality when dealing with the client and come up with the best approach to address the problem. In this case, the employee is expected to ask many questions whereby the response is recorded for future utilization.
Before concluding this action, it is imperative to review some of the Ritz Carlton’s regulations that guide the conduct of employees. The organization is respected for retaining employees since this is a challenge to many organizations. The management appreciates that cleanliness is fundamental in the hospitality industry hence it is the task of each employee to maintain a safe and accident free environment.
Additionally, each employee is expected to protect the privacy and security of clients, colleagues, and the organization in general. However, the organization appreciates cultural diversity, which is indeed an additional strength of the organization that has helped it maintain high standards in the hospitality industry.
Finally, the organization urges each member of staff to be involved in continuous learning process because this plays a role in personal growth.
How Ritz Carlton Creates Ladies and Gentlemen
The idea that Ritz Carlton has an ability of creating real women and men in just seven days is true given the fact that it offers matchless service in the current hospitality market. First, the statement can perhaps be viewed from the human resource perspective since the organization offers the type of training that cannot be compared to any other.
The process of recruitment, training, and orienting its staff is of high quality, which aims at producing the complete employee who has the ability to convene the needs of the client. On the other hand, the statement can be analyzed from the client perspective since the satisfied customer will always want to come back. Additionally, people are known to pay for quality services without complaining.
In the modern society, a real man or woman is supposed to behave in a manner suggesting that he or she is well informed, knowledgeable, and educated. With the services offered at Ritz Carlton, the client is likely to behave in a manner suggesting that he or she is well informed and knowledgeable.