Many of us understand the mission statement and basic business concepts. A strong DPW pushes these elements of a business model a few steps further by using it as an important point of innovation and motivation. Companies working behind a massive transformation goal don`t just aim for success: they want landmark developments that have a positive impact on large groups of people. AIESEC (the acronym was French for the International Association of Economics and Business Students, although the organization no longer uses its full name) traces its beginnings to students from post-World War II Europe who found business internships in different countries. Today, the nonprofit student organization has 40,000 members in more than 120 countries. A personal DPW can be a business, but it can also focus on your family or faith. Given that its business practices are sometimes subject to scrutiny, it cannot be argued that Uber has failed to disrupt the transportation sector. Peppler Launches: 1) Creating value for businesses and people to thrive and transform their businesses and lives. 2) Be a good husband and father How can hotel organizations successfully use technology? At first glance, it seems that technology in the hospitality industry is generally only seen in terms of marketing or as a tool for streamlining processes or administrative functions.
Of course, there are exceptions. Take, for example, the amazing technological resources that Royal Caribbean has incorporated into its Oasis-class ships that help create memorable guest experiences. More often than not, however, companies rely on technology to be better, more proactive, and more targeted with the customer always connected via social media or loyalty program platforms. We also use technology to sell our inventory more profitably through online platforms and applications. And, of course, we use technology to digitize processes and thus improve workflow efficiency. Hotel managers might argue that technology is therefore only one part of a much larger toolbox. But are we really fooling ourselves if we think technology isn`t already playing a bigger role in our business? The people he serves give meaning to the life of your company. Be sure to negotiate with them in mind. Are hotel companies evolving into technology-driven businesses? Looking more closely and looking at some of the strategic steps made by hotel companies in recent years, it seems that more and more companies have started to take a more serious interest in technology. In fact, they have fully integrated technology into their business equation.
Take Yotel as an example – the company uses automated check-in/check-out and payment systems, as well as robot-managed luggage storage, to focus on limited but value-added “Facetime” with its customers. Customers book online and use automated kiosks to stock up on everything from a candy bar to an iPhone charger. An e-concierge app helps travelers better connect and interact with the local community and improves the overall guest experience. Motion sensors in the room help regulate room temperature and lighting. At first glance, none of this may seem very innovative – but the reason Yotel stands out is that it has built its business around technology. Technology isn`t just an afterthought – it`s now part of the company`s DNA. Other companies have incorporated similar “gadgets” that not only serve as a marketing and PR gimmick, but also meet operational needs and streamline efficiency (e.g., keyless entry systems, infrared sensors that detect whether a room is occupied or not). It`s not that easy, of course, and even with hard work and good ideas, no one can predict with certainty whether a business will succeed. Nevertheless, we try. We fight for fences and take the risks that promise the best possible rewards. There is perhaps no better way for hospitality companies to learn and find inspiration to successfully transform their business through the use of technology than to look at some of the “unicorns” that have successfully tapped into the hospitality industry.
Financial analysis is an important part of a LMP, as numbers validate a project. If you move from the short term to the long term, some assumptions may need to be changed. Keeping a close eye on finances is one way to ensure that the project doesn`t cost more than the value it brings to the business. Purpose is at the heart of an organization`s raison d`être. The purpose of an organization ideally reflects the sum of the individual meanings of its members. Each person in the organization should be able to reflect their own importance to this end. Think about it: an organization will never be fully effective if its members don`t feel personally connected to its purpose. Companies that stand out positively in this regard all seem to have understood their “MTP”, i.e.
in a recent book that should be on your summer reading list – “Exponential Organisations: Why new organizations are ten times better, faster, and cheap than your (and what to do about it)” (2014, by Salim Ismail, Mike Malone, Juri van Geest). The simple acronym “MTP” stands for “Massively Transformative Purpose” – a term coined by the authors, but a theme that has been echoed in many books of leadership and entrepreneurial authorities (e.g., Jim Collin`s Good to Great and the Hedgehog Concept). In the case of Ismail, it boils down to three main problems that every entrepreneur would have to research and define to become what the authors call “exponential organizations”: Easy, right? The concept of TPM is one where companies move from a material focus to a focus on information. In our industry, a company like AirBnB is a great example of the rhyme and reason behind MTP: this disruptive company doesn`t build hotel rooms, it doesn`t have a tangible brand but offers a conceptual brand that represents an idea and values, it doesn`t create physical infrastructure to get you into your hotel/studio/apartment room, and it does not directly address management issues such as housekeeping. or maintenance. The world is changing so rapidly that businesses need to innovate and refresh to stay relevant. New products and even completely new business models can be introduced into a company. An example of this is Apple, where the company has regularly undergone a radical shift from selling Apple Macs to iPods, iPhones, iPads and providing services. Accor is another example of all-in technology: with the acquisition of mobile developer Wipolo in 2014, Fastbooking.com in 2015 and Onefinestay in 2016, the company has taken bold steps. It looks like the company is in the midst of a digital transformation that is helping to drive direct bookings (capturing more of the business that would otherwise have gone to OTAs) and collect better, more detailed consumption data. In addition, Accor decided last year to open its booking platform to third parties, becoming a technology and distribution provider for independent hotels.
This digital transformation, which focuses on improving technology infrastructure and business intelligence, appears to be at the heart of the company`s business strategy and impacts relationships and partnerships with all key stakeholders (consumers, employees and business partners). Other industry players, large and small, have also pursued a technology-driven business strategy: U.S.-based Choice Hotels began investing heavily in its digital transformation, creating a technology subsidiary in 2013 to provide third-party hotels (SkyTouch technology) with hotel and rate management. In 2014, Spanish Room Mate Hotels BeMate.com and opened its platform and distribution system to third-party (apartment) owners. Project planning is results-oriented, reports the Project Management Institute, which means that each phase of the project must have a tangible outcome in mind. A medium-term plan looks at both the past and the future to achieve the desired outcome: a company needs to see where it has been so it can plan where it is going. The UNITE cultural layer model summarises all levels of your business, from goal to end results to business results. Each level builds on the previous one, and in the end, all are goal-oriented. In this way, we can connect the deeper purpose and other less tangible aspects of culture with the more direct and measurable business outcomes. Interestingly, AirBnB`s “exponential organizational” thinking was confirmed at this year`s Boutique Lifestyle and Lodging Association (BLLA) Hotel Investment Conference in New York City, where Ian Schrager (co-founder of Morgans Hotel Group) said, “Airbnb is a big, big threat, and I can`t believe how many in the hospitality industry deny it. […] A bigger threat than OTAs [online travel agencies] to the hospitality industry. So, in the past, if entire economies had to move from an export-oriented economy to a consumer-oriented economy – and we now live in a world where people pay with Bitcoin or Apple Pay and have the option to use a 3D printer to make hardware or equipment – it seems the time has come to become more creative in processing technology and integrating it into our business strategies. It`s time to reassess the value of your business.