Please revise Porter’s 5 Forces (PR #2) and Implementation Plan (PR #5) for Hyatt company based on the feedback by the professor. (you can see her feedback on the attachment named PR#2 Environmental Analysis – Hyatt Group_with feedback and PR#5 – Hyatt Strategy Implementation_with feedback)
I will also attach all the assignments (PR1 to PR 5) that I have worked on with other group members just in case if you needed. For the Implementation plan, please read PR 4. The PR4 that I am attaching is the revised version. One of the members revised PR4 based on the feedback from the professor. So, please rewrite Implementation Plan (PR #5) part based on the revision version of PR4. This part should base on the information PR 4 as explained in the instruction below.
Instruction for Porter’s 5 Forces (PR #2)
There are three parts. The first part defines your company’s (Hyatt’s) industry, suppliers, customers, substitutes, and competitors. The second part is a visual model of Porter’s 5 Forces, which includes criterion for each force to evaluate its strength/power. The criterion must be included inside the model. You will need to ensure the formatting is appropriate and that the textboxes are kept in place. There are tutorials online via searching Google, to help with this. The third part is a discussion about the implications of the model. This section should be approximately 1-2 pages.
*Use the format docx that I am attaching. I will also provide the example.
Instruction for Implementation Plan (PR #5)
Content: Develop specific SMART measurements to evaluate performance on each strategy and establish actionable targets (e.g., reduce energy costs by 10%; increase ADR by $5, etc.). Targets can be qualitative but must set clear goals. Simply achieving the strategy is not a measurement.
* This section should provide SMART measurements to evaluate performance on each strategy and establish actionable targets. The strategies for which you are creating your implementation plan come from the business-level and corporate-level strategies you proposed in PR 4. For example, if one of your strategies was to “implement better sustainability practices throughout the organization”, then an appropriate SMART measure may be “reduce energy costs by 10%.” This section should be approximately 1 page in length.
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