Marketing

Know the Area

- What is the area famous for?

- Is there any events that can call a crowd?

Enhance your Website

-Make sure to use the right search engine for the correct target market

Social Media or Networking

Importance of interaction with customer in a real time.

Email Marketing Customer feedback and ratings

As long as you manage to uphold these positions, you will have a successful business. Communicate with your clients and customers regularly and listen to them is the key to ensure your marketing efforts are effective.

Research Development - plays a critical role in the innovation process. It’s essentially an investment in technology and future capabilities which is transformed into new products, processes, and services. (Incremental Innovation)

The role of this department is to:

 Develop new product that can give an edge amongst its competitors.

 Improve the quality of its product.



Enhance the product and processess in an efficient and effective manner.

 Identify market gaps to achieve the target.

Human Resource - HR Department is critical to a customer and service oriented business such as B&B. Why? As they make sure that the employees are well educated, experienced and highly competitive.

Employees performance in terms of service plays a vital role for any business to succeed; coz’ it increase customer’s loyalty, generate positive word of mouth, builds the business’ good reputation and the positive list of actions will go on and on.

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online) Vol. 7, Issue 2, pp: (536-544), Month: October 2019 - March 2020, Available at: www.researchpublish.com

Thus, HR is critical to the business to constantly check employees’ performance, if they are motivated, hard-working and satisfied. As we all know, “Employees satisfaction is important as it will reflect in their attitude and performance thus, producing a very positive results”.

Also, HR needs to make sure that employees and departments collaborate on ideas and resolutions to achieve the common targets and interests.

Finance - financial management is one of the most important responsibilities of owners and business managers. They must consider the potential consequences of their management decisions on profits, cash flow and on the financial condition of the company. The activities of every aspect of a business have an impact on the company's financial performance and must be evaluated and controlled by the business owner. (Woodruff & Reviewed by Michelle Seidel, 2019).

If the financial side of a business is being planned accurately, owner will be able to track the progress of the business in terms of profit and cash surpluses. Accurate financial documents will allow the owner to monitor the cash flow and see when there’s enough retained profits to expand and improve the business.

Sampson Quain mentioned in his article that “Internal factors have a huge effect on the success or failure of a business. Business owners can’t control external factors, but they must be able to anticipate and adjust to these factors to keep their organizations on track. However, business owners and leaders do have significant influence over internal factors that affect a business and how they handle these internal factors will have a major impact on the future of their companies”. (Quain, 2018).

2. SOP 2 - Internal factors

Porter’s Analysis is an important tool to understand the forces that shape the competition within the industry. It is also vital to help owners to adjust the strategy to fit in to the competition.

1) Supplier

Indicator

(Product Supply)

Rating Interpretation

Plenty of supplies in the market 1 Very Low B&B owners regulary use the same supplies 2 Low Supplies are order by bulk 1 Very Low Owners do not care if they use different brand 3 High Weighted Mean 1.75 Competitive

1) Customer Power

Indicator

(Hotel Rooms & B&B Concept)

Rating Interpretation

Rooms are used to relax & enjoy quite time 3 High Requires room facilities like TV, Internet, etc. 3 High Want peaceful & serene environment 2 Low Offers unique concept 1 Very Low Weighted Mean 2.25 Competitive

1) Threat of Substitute

Indicator (Hotel, Inn, Lodge, etc)

Rating Interpretation

Easy access 3 High Many amenities to offer 4 Very High Competitive Rate 3 High Weighted Mean 3.33 Less Competitive

1) Threat of New Entrants

Indicator

(Hotel, Inn, Lodge, etc)

Rating Interpretation

Customers show a strong preference for the products and/or services for the existing companies 3 High Government will implement stricter rules as Industry is growing fast. 3 High Existing companies can offer lower cost than the new entrants 2 Low

Weighted Mean 2.66 Less Competitive

3. SOP 3 - Strengths & Weaknesses

The tables below illustrates the Strengths and Weaknesses for Emoh Ruo Tiny Homes of Alfonso, Cavite

Unique business concept  Owner is a seasoned hotelier and has the passion to run the business.  Good knowledge of the hospitality industry.  Suitable location. It is located near the well-known tourist destinations in Tagaytay and has two neighboring themed parks.

International Journal of Management and Commerce Innovations

ISSN 2348-7585 (Online) Vol. 7, Issue 2, pp: (536-544), Month: October 2019 - March 2020, Available at: www.researchpublish.com

 Business environment and ambiance can provide guests a total package of relaxation that they desire, a cool weather, quiet, undue disturbance and close to nature approach.

 Good understanding of customer needs and preferences.



Owner is credit worthy.

 The surroundings still not over populated quiet, undue disturbance and close to nature approach.

 quiet, undue disturbance and close to nature approach.

 Good understanding of customer needs and preferences.  Owner is credit worthy.

The surroundings still not over populated Good understanding of customer needs and preferences.

Owner is credit worthy.

The surroundings still not over populated

Opportunities

 Trend due to its uniqueness and close to nature concept.

 Continous growth of the industry within the area.

 Opportunity to expand business like spas, café’s, gym, etc.

Opportunity to utilize some portion of the land to convert into commercial area such as boutique or souvenir shop.

Threats

 Strong competition amongst experienced and established B&B owners and/or hospitality owners.

 Existing hospitality owners that offers a larger and luxurious B&B Accomodations within the area.

 Ever increasing competition from the mushrooming B&B, Inns, Guest Houses and Lodges and even Hotels.  As this kind of business is growing rapidly, there is a possible implementation of strict regional law for B&B business.  Possible increase in the interest rates which make loans very difficult for small businesses.  Threat from indirect competitions.  Needs and preferences of customers continuously changing.

SOP 5 - Alternative Course of Actions

Leverage the Strength

Mitigate the Weakness

Capitalize the Opportunities

Avoid Threats

Owners have to implement efficient and effective financial management control systems to ensure proper management of the resources of B&B. This will also include in minimizing the expenses while maximizing the income.

All important decisions affecting the B&B should be discussed and evaluated by the team.

Owner should look for ways to continously improve service and how to increase the occupancy rate.

Owner to seek or raise funds to maximize the extra land use for additional accommodation units.

Business strategy needs to enhance or improve to give the operation an edge with the competitors.

Develop future plans which will serve as an important platform in the business expansion.

Expansion of accommodation to capture opportunities available in the hospitality industry.

Enhance customer satisfaction to ensure customer retention.

Create or improve customer loyalty by adopting customer intimacy as important principle.