Strategy in Business

January 13th, 2012 by under Hotel Industry. No Comments.

In the second term of our first semester, I always wondered while sitting in the strategy class that how exciting can it be to create a business strategy for a company or even is it really essential for the company to have a common strategy for all its divisions? All the theory classes didn’t help much in answering my doubts. But yes, the case studies did make it clear that the companies, which didn’t know the strategy which they were following, ended in ashes.

The most interesting part of the whole class was when we applied the strategic concepts learned in the class for creating real strategies for a company of our choice. I had Angie Baker, Satyam Mehrotra, Teal Liu, Tony Liu and Rakesh Krishnan in my group and we decided to apply all the new knowledge learned to a big player, Marriott in the Hotel Industry. It was interesting to learn the history and current strategies about Marriott and the hotel industry as a whole. The best part in the process was how each team member came up with a new strategy which the company can use in future to extend the company’s current line of hotels. We also worked towards forecasting the growth of Marriott using the suggested strategies. The real challenge came in the form of the team presentation in front of the Track2 -Cohort Class of 2013 where the last 10 minutes of the presentation was the Audience Questions Round. There were a pool of questions both from our classmates and the professor and our team was able to successfully knock down each of it.

Our team was really happy after the presentation and yes, I was delighted because after the presentation and the experience , the question I had in mind РWhether companies really need to form a strategy-  was answered. Although each division in the company may function separately, what makes a company successful is the common goal of the company which each unit should contribute to.

Indeed, my team was wonderful and I am looking forward to working with them for the next case competition coming up in February,2012. Hope to share some of the insights from the case competition on my blog!