Novotel West hQ is the hotel I want to be used
RCM301 Assessment 01_26032020 Page 1 of 4 Context The organisational environment consists of both internal and external factors. Scanning the environment is important for any organisation to assess the factors that will impact organisational success. Thorough environmental scanning will consider all possible factors affecting the business climate, which influences the company’s day-to-day business operation. These factors may be internal; personnel/human resources, company structure, specialist skills and available resource/infrastructure or external; political climate, the economy, trends and natural phenomena. The process of environmental scanning does not only identify threats, it also identifies opportunities existing in the environment and it is a vital step in strategic planning for hospitality organisations. Risks can either present a threat or an opportunity; it’s a double-sided concept. Therefore, it is the responsibility of any organisations to manage risks by devising appropriate risk treatment strategies. Instructions You are employed as a corporate risk manager at a mid-sized hotel chain that predominantly operates in the Asia-Pacific region. As a part of the organisation’s expansion strategy, the board has decided to acquire a 150-250 room hotel in an Australian state capital city (students should select the state capital city closest to their location). One of the potential hotel properties for acquisition is a well-established hotel located in the CBD that caters to the business and leisure market segments. The board of ASSESSMENT 1 BRIEF Subject Code and Title RCM301: Risk and Crisis Management Assessment Environmental Scanning Report Individual/Group Individual Length 2000 words (+/- 10%) Learning Outcomes a) Identify and describe concepts and theories of risk and crisis management within the context of the Hospitality and Tourism industries b) Analyse and evaluate principles and strategies of risk and crisis management within the context of the Hospitality and Tourism industries Submission By 11:55pm AEST/AEDT Sunday of Module 3 (Week 5) Weighting 40% Total Marks 100 marks RCM301 Assessment 01_26032020 Page 2 of 4 directors has asked you to conduct a comprehensive scan to identify risks associated with the potential acquisition of this hotel. Students should select a 150-250 room hotel in their chosen state capital city and address the following: • Provide a brief overview of the chosen hotel, outlining location, facilities, target market characteristics, competitors, etc. • Using the concepts and theories of risk and crisis management, conduct a comprehensive environmental scan in which you assess the risks (both internal and external) related to the current operations of the chosen hotel. • Identify three (3) high priority risks related to the acquisition of the chosen hotel and critically analyse the potential impact of these risks on the future operations of the mid-sized hotel chain. • For each high priority risk identified propose at least one (1) risk response strategies to address the risk using the 4T framework (Transfer, Tolerate, Treat, and Terminate). Submission Instructions: This assessment must be submitted in compliance with the following: 1. Students should make significant references to the subject material and substantial wider reading. A minimum of four (4) academic (textbooks & peer-reviewed journal articles) & four (4) other sources (newspaper article, trade publications, websites, etc.) must be used. It is essential that you use appropriate style for citing and referencing research. Please see more information on referencing there - http://library.laureate.net.au/research_skills/referencing References to ‘Wikipedia’ or similar unsubstantiated sources will not be accepted. 2. Extensions cannot be granted by the lecturer after the submission date. In the event of serious illness or unusual circumstances, a student may apply for Special Consideration in accordance with the rules and regulations governing this application, but it is important that such requests be made as soon as the circumstance is known. 3. The report must be submitted through the Assessment section of the subject page in the learning portal. No email or hard copies will be accepted. http://library.laureate.net.au/research_skills/referencing RCM301 Assessment 01_30012020 Page 3 of 4 Assessment Rubric Assessment Attributes Fail (Yet to achieve minimum standard) 0-49% Pass (Functional) 50-64% Credit (Proficient) 65-74% Distinction (Advanced) 75-84% High Distinction (Exceptional) 85-100% Overview of the chosen hotel 10% No overview provided and/or the overview does not discuss location, facilities, target market, and competitors of the chosen hotel. Brief overview provided, however limited discussion of some of the elements of the hotel (location, facilities, target market, and competitors). Clear overview provided, briefly discussed location, facilities, target market, and competitors of the chosen hotel. Detailed overview offered and clearly discussed location, facilities, target market, and competitors of the chosen hotel. Highly descriptive overview provided and comprehensive discussion of location, facilities, target market, and competitors of the chosen hotel. Environmental scan 20% Does not demonstrate an understanding of environmental scanning and assessing risk by use of risk and crisis management concepts and theories in relation to the chosen hotel. Demonstrate a limited understanding of environmental scanning and assessing risk by use of risk and crisis management concepts and theories in relation to the chosen hotel. Demonstrates a proficient understanding of environmental scanning and assessing risk by use of risk and crisis management concepts and theories in relation to the chosen hotel. Demonstrates an advanced understanding of environmental scanning and assessing risk by use of risk and crisis management concepts and theories in relation to the chosen hotel. Demonstrates an excellent understanding of environmental scanning and assessing risk by use of risk and crisis management concepts and theories in relation to the chosen hotel. Analyse and evaluation of risk 15% No evidence of analysis and evaluation offered in terms of risk prioritisation, and no evidence of the use of commonly discussed tools to evaluate risk. Very limited analysis and evaluation offered in terms of risk prioritisation, and no evidence of the use of commonly discussed tools to evaluate risk. Offers a well-developed analysis and evaluation of risk prioritisation by use of commonly discussed tools, for example a risk matrix. Offers a thoroughly developed analysis and evaluation of risk prioritisation using commonly discussed tools, for example a risk matrix. Offers a highly sophisticated analysis and evaluation of risk prioritisation by use of commonly discussed tools, for example a risk matrix. Risk response strategies 25% No risk response strategies discussed Two risk response strategies discussed with limited/and or no analysis and evaluation and/or did not refer to 4T framework Three risk response strategies discussed with limited analysis and evaluation, referring to 4T framework An analysis of three risk response strategies discussed and evaluated with clear explanation by referring to 4T framework A detailed analysis of Four risk response strategies discussed and evaluated in detail by referring to 4T framework RCM301 Assessment 01_30012020 Page 4 of 4 Correct citation of key resources and evidence 10% Demonstrates inconsistent use of good quality, credible and relevant resources to support and develop ideas. No academic sources used. There are mistakes in using the APA referencing style. Demonstrates use of credible and relevant resources to support and develop ideas, but these are not always explicit or well developed. Minimal academic sources used. There are many mistakes in using the APA referencing style. Demonstrates use of high quality, credible and relevant resources to support and develop ideas. A couple of academic sources used, There are several mistakes in using the APA style. Demonstrates use of good quality, credible and relevant resources to support and develop arguments and statements. Shows evidence of wide scope for sourcing evidence. Several academic sources used There are minor mistakes in using the APA referencing style. Demonstrates use of high- quality, credible and relevant resources to support and develop arguments and position statements. Shows evidence of wide scope for sourcing evidence. Many quality academic sources used. There are no mistakes in using the APA referencing style. Structure 10 % Discussion points do not flow smoothly or logically, no connection between ideas. Paragraphs not used or lack structure. Minimal structure evident however discussion points loosely connected. Limited use of paragraphs. Good structure evident with some discussion points presented in a logical order. Paragraph structure used throughout. Good structure evident with most discussion points presented in a clear and logical order. All paragraphs are well organised. Excellent structure evident with all discussion points presented in a clear & logical order. Paragraphs well defined and organised to a high quality. Format & presentation 10 % Many spelling mistakes and/or grammatical errors. Report format not used. A number of spelling mistakes and/or grammatical errors. Inconsistent report format used. A couple of spelling mistakes and/or grammatical errors. Report format used. Minimal spelling mistakes and/or grammatical errors. Report format used. No spelling mistakes or grammatical errors. Clear & logical report format used. Ribaric, R. (2012). Future of risk management in the hotel industry. In Faculty of Tourism and Hospitality Management in Opatija. Biennial International Congress. Tourism & Hospitality Industry (p. 396). University of Rijeka, Faculty of Tourism & Hospitality Management. In this article, Robert Ribaric (2012) discuss how risk management scope has changed with complex risk situations related to hotel industry. Paraskevas, A., & Quek, M. (2019). When Castro seized the Hilton: Risk and crisis management lessons from the past. Tourism Management, 70, 419-429 This scholarly article by Paraskevas and Quek (2019) discuss the benefits of having a proactive risk and crisis management plan and they have used the context of Hilton hotels and Castro forces’ in Cuba. RiskDoctorVideo. (2018). What is risk?. [Online]. Retrieved from https://www.youtube.com/watch?v=oW-i1IcVPXI This video from The Risk Doctor YouTube channel define the