Mission, Vision, Social Responsibility, Strategic Planning: Marriott and Hyatt Lori Scholl
University of Maryland, University College
Business Management 364, Section 4015
May 24, 2012
Mission and Vision Statements
Organizing the direction of a business or corporation is essential because it can increase profitability and provide broad guidelines for how to accomplish the organization goals. This is where a mission statement becomes useful. A mission statement should be short, concise, and to the point. Employees should be able to remember it and make it part of their everyday work culture.
Marriott and Hyatt are two of the largest hospitality providers in the world. Marriott has over 3,700 properties in 73 countries with over 120,000 employees worldwide (http://www.marriott.com). Hyatt has 488 properties in 48 countries with over 50,000 employees (Bloomberg, 2012). As global empires, their mission and vision statements should be clear and focused. The mission statement from Hyatt states that their mission is to provide authentic hospitality by making a difference in the lives of the people they touch every day (http://www.hyatt.com). Marriott’s mission statement reads, “we believe our strength is rooted in our core values: putting first, pursuing excellence, embracing change, acting with integrity and serving our world” (http://www.marriott.com).
In comparing the two, it is obvious that the mission statement from Hyatt is very general, almost to the point of being impersonal. Their mission statement could apply to numerous hospitality companies and many others outside of the industry as well. If you were to look at the “about us” portion of their website, there is little development with no clear intent of purpose. It is true that the statement is easy to understand and remember, but it needs to have a practical application that is also evident in the statement. That practical element is lacking and creates an issue for how employees go about satisfying the goal in the mission statement. Ultimately, the direction of the corporation seems undecided or at the very least unknown.
On the other hand, Marriott’s mission statement is detailed and thoughtful. The website states the core values and then goes on to explain them each in detail. It is evident that the company gave these values a great deal of thought as to how they incorporate with the overall goals of the company. Also, by choosing to use not just the mission statement, but also examples and videos, the ideas of the core values will become more ingrained into the audience. By keeping the organization’s goals focused, strategic decisions will be quicker, easier to discern, and less likely to stray from the mission statement.
A mission statement describes the goals of an organization in the present; a vision statement outlines the goals for the future. A company should have both so that their current activities stay focused while never losing sight of their ultimate goal.
The vision statement for Hyatt states “we wish to become the most preferred brand in each segment we serve for our associates, guests, and owners” (http://www.hyatt.com). Once again, the statement is broad and vague. Marriott’s vision statement reads simply “to be the #1 hospitality company in the world” (http://www.marriott.com). This too is broad, but also bold and ambitious. Next, Marriott follows their pattern of explaining how they are going to achieve their goal by choosing four terms: purpose, values, strategy, and success measures.
It seems as though both companies have different interpretations of their businesses. Hyatt runs a significantly smaller group of hotels and based on their vision is not necessarily looking to expand, but rather to improve their reputation and service. On the other hand, Marriot is a very large company that has different types of lodging facilities, and their...
References: Barbara De, L. (n.d). Marriott institutes sustainable seafood program. USA Today.
Bloomberg Businessweek.(2012). Company Overview of Hyatt Hotels Corporation. Retrieved from http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=13103664
Hyatt Hotels and Resorts. (2012). Retrieved from http://www.hyatt.com/hyatt/about/index.jsp?type=clear
Marriott International Inc. (2012). Retrieved from http://www.marriott.com/marriott/aboutmarriott.mi
May Yee, C. (2010, June 20). Marriott: Tops for making workers feel appreciated: To cultivate a top workplace, midsize employers use their heads and their hearts to keep workers engaged. Star Tribune (Minneapolis, MN).
Michael S., R. (n.d). Bombing Is Marriott 's Biggest Loss In 81 Years. Washington Post, The.
Phillips, David. (2009, October 19). Timeshare Business Unwelcome Guest at Marriott International. Retrieved from http://www.cbsnews.com/8301-505145_162-33543824/timeshare-business-unwelcome-guest-at-marriott-international/
Please join StudyMode to read the full document