49NL Year 2 Business assignment

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Decisions on prices and costs year 2 & reflection point

Check the page Year 1-2-3-4. During the years you have to take a number of decisions

  • on prices (five decisions)
  • on costs to be made (five other decisions)

Situation

On the page operating review you can see now how the results of your actions and how the market responded to your earlier choices and decisions taken. You continue developing your new hotel concept and working on establishing its footprint in the market under your new chosen strategy. Look at the feedback and comments provided by your coach(es), and if applicable, the chosen marketing research. Keep your actions aligned with your strategy.

Now, you get to assess current prices and revise them accordingly (five of them) bringing again revenues and their respective costs according to other five specific choices. You will make all these decisions now for year 2. After seeing the results from this year 2, you will eventually get to take further decisions (“new amounts”) in year 3.

Your Team makes new decisions regarding year 2 in your Team File

Tab year 1-2-3-4 in your Team File. Just an example of the 5 decisions on prices. The same goes for decisions on costs. The 'active' year will be 'yellow', a year which has passed will be greyed-out. Mouse over in row B gives you more info on the decision. You will also get an alert if the input is not okay. Be sure to explain in depth, with sources! and arguments and preferably calculations.

Goal

Keeping your decisions in alignment with your new strategy and your new customer segment(s) and its evolving behavior. Remember that all five decisions are new costs: behave on incremental basis to previously pre-determined fixed and variable costs as part of operational management strategy. Your focus remains on the execution of your strategy while positioning your hotel to drive and sustain business growth and profitability in the long run. So, keep your professional hat on managing a good balance between prices and its related total costs (incl. new costs).

Deliverable

Fill out all of the ten decisions in your Team File.
Do not copy paste prices or explanation in your team File from the year before! Make 'fresh', new explanations and even when prices are alike, type them in and do not copy paste.
The most important thing is the arguments you give in your Team File, underneath every decision. Why did you choose them? Try to find benchmarks, put URL's or links in, make basic calculations, try to predict the outcome of your decisions.
Especially looking at the costs: these are going to be additional:

  • exactly what are you going to spend the money on? and,
  • what do you think it will bring your hotel? Be concrete, also calculate.

Assessed elements

  • Are all choices made and within the boundaries set?
  • Is there a clear link to the strategy?
  • Are the arguments valid?
  • Is it clear what the costs are spent on exactly?
  • Are there basic calculations done to show the effect of the choices at each choice?
  • Is there a link to what happened in the history?

Handing in

You work in the cloud: no need to save (done automatically) or hand-in your Team File. Just be sure it is ready, well before the deadline.

Help Files


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