In 1986, the Sheraton Corporation became а wholly owned subsidiary of International Telephone and Telegraph Corporation (ITT) (Hussain pp.14-17). As an innovator in Sheraton hotel, its reputation is well established-the first hotel corporation to be listed on the New York Stock Exchange (Retail pp.51-3), the first to use an automated electronic reservations system, the first to employ а standardized management training programme, and the first to inaugurate а reservations centre exclusively for travel agents (Hwang pp.960-74).
The magnitude of the planning involved in running this corporation cannot be appreciated without appreciating the width of its coverage. For obvious reasons of manageability, Sheraton is divided into four geographic divisions-North America; Latin America and the Caribbean; Europe, Africa, Middle East and South Asia also the HQ for the Sheraton Management Corporation; Hawaii, Pacific and the Far East. There is also а fifth division dealing purely with international franchises, and all these report to the HQ inBoston. Strategic planning at Sheraton is carried out at three levels, commencing at individual units, continuing into divisional planning, both of which are inputs for the corporate strategic plan (Retail pp.95-6). This bottom-up planning has а ten-year time frame, with the immediate future being analyzed in greater detail through bottom-up annual planning or business planning.
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