IHG’ risk management goals are necessarily aligned to its core purpose which is ‘Great Hotels Guest Love’. IHG particularly aims at championing and protecting its trusted reputation of the company as well as its brands. It also seeks to become a one team which works together towards making and keeping the business fulfilling, resilient and safe. In ensuring this aspect in IHG, its brands, guests, hotels and offices, assets and people are secure and safe as the company seeks to show extensive support to corporate functions, staff, contractors and hotel owners in effectively managing risk. This would mean that there is need to give them systematic approaches as well as frameworks in providing and following the necessary tools to happen on the job (Harkins, Giber, Sobol, Tarquinio & Carter, 2005). The risk management team at IHG has created comprehensive suites of training materials and electronic toolkits, which are accessible by any corporate employee and remains readily available to all hotels. The materials in this respect include risk management procedures and policies, checklists, videos, posters, templates, face-to-face training and e-learning, which proves to underpin the risk management framework in existence.
As an approach to enhancing the visibility and management of corporate vulnerabilities, the company has set up global working groups with several primary objectives in mind. They include fostering improved hospitality management in IHG’s leadership teams as well as improved assurance on organizational performance to the IHG Board. It also focuses on creating better levels of understanding of the crucial tasks and controls and in particular, the management of cross-functional risks that prevent implementation and delivery of IHG’s strategy (Enz, 2009). Further, they seek to highlight tasks that not adequately addressed and at the same time encourage as well as facilitate best practice sharing across the organization. It also seeks to reduce the overall costs of running business through sponsoring continuous task improvement and periodically monitoring and examining performance culture and governance. IHG has also developed a global brand and relationship management framework and process which are embedded in a range of its operations functions and teams. The goal is to generally develop thoroughly robust, resilient process, responsive, and a respected, successful, responsible business on a long term basis. In doing this IHG is able to support the critical functions of its formation including identification and management of operations in alignment with the long-term value drivers and the strategic objectives in the business.
As the number of IHG’s corporate clients continues to grow, there has been increased need to have a high level of investor satisfaction as they set themselves targets of sustainability and seek help in achieving them. IHG provides its corporate clients with the necessary details of their carbon footprint as they seek to engage in business with them. Similarly, time IHG has set itself to achieve a strategic objective in making each guest’s accommodation at a given brand of its hotels becomes more carbon efficient (Bowie & Buttle, 2012). Further, Intercontinental Hotels Group aims at helping drive guest loyalty and …
Posted by: Audrie Durrell