Operation Management Research Paper Example | Topics and Well Written Essays - 2500 words - 2

Operation Management - Research Paper ExampleIntroduction Fairmont hotel is a leading traditional five star pit stop for umteen international tourists visiting Singapore. Due to high market penetration by various leading hotel chains Fairmont is anticipating a major shift in livery operational qualification by focusing on increased staff training to rise up the bar in terms of customer satisfaction. secondly traditional procedures enrooted across the circumspection in each department lacks competitive byput as compared to other systematically superior newer hotels. Another reason why Fairmont failed to view as its lustre is due to its lack of emphasis towards replacement of its traditional equipment, fixture and fittings in order to keep abreast with the changing trends. Singapore city had remained economically vibrant oer the past few years and thus had attracted both business travellers and tourists alike from across the borders at an increased pace. Demand had remained stab le throughout hospitality sector and hotel segment, but the hotels management had felt an alarming situation whilst its occupancy rate dropped immediately in times when the pressure from either group faded. In instances like business holiday season the occupancy rate dropped much abruptly compared to other industry players or far more than the industry rate. Likewise as soon as the peak season for tourists diminished the rate drop for Fairmont surpassed that of its peers. Management is concerned regarding hotels obnoxious action and fears that if no prompt action is taken to bring in higher efficiency that would match performance of its peers, it might have to face consequences like completed closure. Methodology Business Risk Management is concerned regarding the prevalent obnoxious performance and fears that if no prompt action to bring in higher efficiency that would match that of its peers, it might have to face consequences like complete closure. So in order to implement an d transform a strategy shift through change management the solution is to be devised based on the current factors that relate to the business. Fairmont is making handsome profits as far as its monetary statements records states. But the gap between its profitability and operating cash flows is widening day by day. The GM who had been with the hotel till his retirement last year, had hands on experience and expertise over business marketing and management, his intervention to uplift and upgrade the hotels outlook had remained quite low. Performance measurement standards had been predominantly relied over simpler profitability ratios under his regime. It is truly a managers job to bring about the relevant change within each process and critically evaluate management with acute yardstick that would enable an enterprise to foster efficient practices and remove inefficiencies. Traditional models have their certain life after which new advance theories builds upon already defined princip als as with time improvements are crafted naturally. For such reasons product cycle and stage within this cycle is important to be defined that would translate the