PROJECT REPORT ON PRINCIPLES

OF MANAGEMENT

Submitted by
Adwaith Hareesh

Subject: Business Studies

THE INDIAN HIGH SCHOOL

DUBAI

Board Exam Roll Number:

Class: 12
Division: COM F
Date: 6/27/2023
Period of Study: 2023-2024
 THE INDIAN HIGH SCHOOL, DUBAI

BONAFIDE CERTIFICATE

Certified that this project report on Principles of

Management

is the bona fide work of “Adwaith Hareesh” who carried

out the project work under my supervision.

Teacher in Charge:

Mrs. Misha Mohan

Signature:

Signature of Internal Examiner:

Signature of External Examiner:

 ACKNOWLEDGEMENT

I would like to express my sincere gratitude to my

business studies teacher Mrs. Misha Mohan as well as my
Supervisor, Mr. Pradeep Kumar, who gave me this
opportunity to do the project on principles of management
which has enhanced my knowledge and sharpened my
research skills.

I am thankful to them.

I would also like to thank my parents and friends who put

in their time and energy to help me finish this project
within the allotted time.

MY SINCERE GRATITUDE TO ALL WHO HELPED

ME.

(sign)
 INDEX
PG.NO CONTENT
Introduction to principles of management
1
Techniques of Scientific Management they
2 follow
Details on Fayol
3
Principles of management
4
Firm model I chose
5
Department chose
6
all he does to improve the quality of working
7
Happens if an employee doesn’t work as
8 expected
all troubles does the department face
9
department is more interconnected with the
10 working of this department
Firm recording the working of that department
11
software or applications are used by the
12 department for efficiency
principles of management the company follows
13
Benefits offered to the employees by the firm.
14
All things done by the firm does to retain the
15 workers in the company
all activities department performs
16
Eco protection policies of firm
17
Future Plans of the firm
18
Conclusion – Summary
19
Bibliography
20
6
 INTRODUCTION
Principles of management are basic activities that can
help you plan, organize and control operations related to
material, people, machines, methods, money and
markets. They provide leadership to human efforts so
that they achieve set objectives efficiently.2 types of
principles of management exist in this world one which
is founded by Taylor and another founded by Fayol.
Taylors Principles Fayols Principles
.Science not rule of thumb Division of work
.Harmony not discord Authority and Responsibility
.Cooperation not Individualism Discipline
.Development of each and every Subordination of individual
person to his or her greatest interest to general interest
efficiency and prosperity
Remuneration of employees
Centralization and
Decentralization
Scalar chain
Order
Equity
Stability
Esprit de corps
1
HENRI FAYOL
Henri Fayol (29 July 1841 – 19 November 1925) was a
French mining engineer, mining executive, author and
director of mines who developed a general theory of
business administration that is often called Fayolism. Fayol
was born in 1841 amidst the great eruption of the industrial
revolution in a suburb of Constantinople (now Istanbul). His
father, a military engineer, was appointed superintendent of
works to build Galata Bridge, across the Golden Horn. The
family returned to France in 1847, where Fayol graduated
from the mining academy "Ecole Nationale Superieure des
Mines" in Saint-Eienne in 1860. Fayol divided the range of
activities undertaken within an industrial undertaking into
six types: -
 technical activities
 commercial activities
 financial activities
 security activities
 accounting activities, and
 managerial activities

2
Principles of Management
Henry fayol’s principle of management states that the
work to be done should be organized in such a way that
employees work in harmony towards the same objective,
using one plan, under the direction of one manager.
1. Division of work - In practice, employees are
specialized in different areas and they have different
skills. Different levels of expertise can be distinguished
within the knowledge areas of personal and
professional developments support this. According to
Henri Fayol specialization promotes efficiency of the
workforce and increases productivity.
2. Authority and Responsibility - According to Henri
Fayol, the accompanying power or authority gives the
management the right to give orders to the
subordinates.
3. Discipline - This principle is about obedience. It is
often a part of the core values of a mission and vision
in the form of good conduct and respectful interactions.
4. Unity of command - Every employee should receive
orders from only one superior or on behalf of the
superior.
5. Unity of direction - Each group of organizational
activities that have the same objective should be
directed by one manager using one plan for
achievement of one common goal.

3
6. Subordination of Individual Interest to General Interest
- The interests of any one employee or group of
employees should not take precedence over the
interests of the organization as a whole.
7. Remuneration - All Workers must be paid a fair wage
for their services. The wages paid must be as per a
certain standard of living to the employee at the same
time it is within the paying capacity of the company.
8. Centralization and Decentralization - This refers to the
degree to which subordinates are involved in decision
making.
9. Scalar chain - The line of authority from top
management to the lowest ranks represents the scalar
chain. Communications should follow this chain.
However, if someone needs to communicate some
other person in emergency he/she might use "Gang
Plank".
10. Order - this principle is concerned with systematic
arrangement of men, machine, material etc. There
should be a specific place for every employee in an
organization.
11. Equity - All the employees in the organization
must be treated equally with respect to the justice and
kindliness.
12. Stability of tenure of personnel - High employee
turnover is inefficient.
13. Initiative - Employees who are allowed to
originate and carry out plans will exert high levels of
effort.
4
 14. Esprit de Corps - Promoting team spirit will build
harmony and unity within the organization.

The Firm Selected

One of the newest, most unique hotels in the city,

Millennium Place Marina is a 4-star hotel where modern
comfort meets personalized service. Set in a convenient
location in Dubai Marina, our hotel is walking distance
from the Dubai Metro Station (DMCC), Dubai Marina
Mall and the beach. For Millennium Place Dubai Marina
sustainability is about meeting current needs by
introducing supplier sustainability partnership where
possible, reducing water consumption, providing equal
opportunities to all hotel members to make sure that we
are preserving & contributing to protect our
future. Whether work or pleasure brings you to Dubai,
Millennium Place Marina offers a vibrant business and
social hub where joy is a vital element of every guest
experience.

5
 Actions Taken To Improve The Performance

In order to improve the working quality, he should be a

continuous learner in the frequent changing IT world. Needs
to be updated on the latest technologies coming to the
market. Since the department is into the people business
needs to support different types of requests. And in order to
make their work even more perfect they perform the
following functions: -
- They use an application/tool called samfex which is a
guest journey management solution. This helps them to
monitor the efficiency of the departments and hotels
working.
- Planning and prioritizing work: Probably the most
relevant function done by the department to improve
work performance in the midst of tight deadlines.
- Task delegation: another method done by the head in
order to improve their work performance while trusting
his subordinates to competently perform delegated
work. Smart delegation is also counted among the most
important managerial skills that help manners alleviate
their workload and focus on other more important
activities within a project.
- Setting clear milestones: Is an important aspect in both
personal and professional life. In the IT it has its own
board as certain objectives and achievements which hey
have to achieve
6
In order to record and monitor the works, we use the quality
management solutions to input all the job orders where we
can measure the productivity of the whole department or by
individual. And so the firm takes actions against those who
don’t do the work properly as desired and give boosts to
other people who actually do exemplary work such as bonus
and promotions are provided to those kind of workers. Not
just that any extra work put in by the workers is also
appreciated by the firm. They are required to strictly follow
the authority and responsibility and also follow the company
ethics standard and policy strictly. The firm even has a
tracker which is used to track the working of every single
department in the firm. They even ask that particular
managers of certain managers to send progress reports every
month. And the IT departments also sends their reports
through the head of the department that is Mr. Sajith Pillai.
Some of the other ways and methods are: -
1. Understand the Processes:
They make sure that the firm has a clear understanding of
the department's processes and workflows. This might
involve observing daily operations, talking to team
members, and reviewing any existing documentation.

7
2. Common options of documentation include:
Process Documents: recording step-by-step guides for
various processes using text, images, and diagrams.
Flowcharts: They use flowcharts to visually represent the
sequence of actions in a process.
Checklists: they make checklists so that team managers can
follow to ensure tasks are completed consistently.
Videos: Record videos to demonstrate complex processes or
tasks.
3. Break Down Processes:
For each process, break it down into its individual steps.
They make clear and concise language to describe each step
in detail. Try their best to include any relevant information,
such as tools used, software involved, and expected
outcomes.
4. Include Roles and Responsibilities:
Specify the roles and responsibilities of each and every team
member involved in the processes. This helps everyone in
the firm to understand their individual contributions and how
they fit into the bigger picture.

8
5. Address Variations and Exceptions:
Not all situations follow the standard processes.
Documentation processes might have many variations or
exceptions and alternative approaches that could be
necessary in specific circumstances.
6. Use Visual Aids:
The firm tries to incorporate visuals in the recording in the
of the performance of specific departments like flowcharts,
diagrams, and screenshots to enhance understanding. Visual
aids make complex processes easier to comprehend.
7. Keep It Up-to-Date:
Firm regularly reviews and updates the documentation as
processes evolve or change. Outdated documentation can
lead to confusion and mistakes.
8. Make It Accessible:
Ensure the documentation is easily accessible to all relevant
team members. This might involve using a shared drive,
intranet, project management software, or a dedicated
documentation tool.

9
Some of the benefits provided by the company to the
employees are:
- System accesses according to their department and their
levels.
- Salaries, bonuses and promotion to those who are
exemplary workers.
- Complimentary Air tickets and visa to workers.
- Furnished Homes as accommodations
- Duty meals
- Transport to office and accommodation
- Complimentary phones
- Discounted stay in the company’s hotel around the
globe
- Health Insurance to employee and their family.
- Paid family leave
- Professional development courses
- Retirement plans for employees
- Paid sick leave
These are the most prominent 3 steps which are done to
retain the people within the firm
- Train the employee
- Succession planning
- Career development

10
- Training The Employee: -The organization provides
training which acts as a tool which provides job
experience and learning on the job which helps in the
improvisation which helps employees to do jobs faster
and efficiently.
- Career Development: - Career development refers to
the process an individual may undergo to evolve their
occupational status. It is the process of making
decisions for long term learning, to align personal needs
of physical or psychological fulfillment with career
advancement opportunities.
- Succession Planning: - Succession development is a
method used to identify and develop emerging leaders
so that they can take control in time of need and keep a
company afloat and unaffected.

11
If an Employee Doesn’t Work as Expected

Firstly, needs to review the team’s performances regularly,

and advise where the shortfalls are, then take necessary steps
along with them to improve their skills. Like coaching,
mentoring, in house or outside trainings etc. even after that if
that one employee who slacks off directly impacts team
morale and the work environment the underperformance will
continue without repercussions, the other hardworking team
members can become resentful and discouraged. If the
employee’s job performance doesn’t show signs of progress
after investing a reasonable amount of time into the action
plan, you need to contemplate other options. The two most
common solutions are:
- Reassignment: - The employee could be better suited
for another position within the organization that has
different responsibilities. An alternative role in another
department with demands that fall within their current
scope of technical knowledge and interpersonal skills
could be just what the employee needs to feel fulfilled.

12
- Termination: - When the worker has exhausted all other
options, he/she may have to come to the last resort of
letting the employee go. Although this is not ideal, it
may be the best solution for the company. The
termination process is never pleasant and can get
complicated, so it’s a necessary step the company must
follow all the HR procedures and the termination policy
very carefully. In order to remove any fights or
conflicts between the fired worker and the company it’s
better to do the termination process in the most peaceful
way possible even the other workers should understand
that if quality work is not performed then their survival
in the firm is unsure.

13
Challenges Company Faces
Some of the most prominent limitations that the IT
department faces are:
- Since most of the programs used are of cloud based
solutions instead of having a local server, due to this
having some unexpected service interruptions.
- Complaints from the guests and colleagues regarding
Wi-Fi, service, food, luxury could result in company
getting low rated.
- Delay in project completions by workers who are lazy.
- Security and vulnerability issues like hackers, malware,
viruses and other bugs even ransomware issues have
been faced by the company one time
- Bored workers: -Workers just consider their work as a
job and don’t provide customer oriented behavior is
walking threat to company’s existence.
- Critics, bloggers and reviewers: - These people are
sponsored to stay at the hotel and try their maximum to
ruin the rating by pointing out faults among all the other
luxuries provided.
- Guests coming for other purposes to hotel:- While most
of the people come to the hotel to enjoy the luxury
others come here for suicide or other weird purposes
which tarnish company’s goodwill among people.

14
Principles of Management Followed
~Authority and Responsibility: - The head of the department
has the authority to assign duties to subordinates and the
subordinates have the responsibility to perform that assigned
duty with complete honesty and sincerity and make sure it
has a minimum quality.
~ Division of Work: - most of the work and duties are mostly
divided into small tasks among workers based on their
specialization and experience. The work that is sometimes
that is checking on main frames and serves or changing the
communication networks that is such as switching from
wired network to wireless network.
~ Discipline: -This is the most important principle which is
eternal and is of utmost importance and should be followed
which is the obedience towards organizational rules and
employment agreements that are necessary for the working
of the organization. They are expected to do required work
with a certain level of perfection.
~Subordination of Individual Interest to general Interest: -
The company’s interest is most important and more relevant
that any individual person’s decision or opinion. Nor any
single departments the whole company will make decisions
for the benefits of the firm as a whole.

15
~Scalar Chain: -The line of authority and command which
always flows upward that is topmost and the position is
called general manager and every employee has certain
positions to whom he/she is to report.

~Order: -Every department has a certain place and office

which is stated in the ground floors such as the IT
department is located in the 1st floor of the hotel. And the
restaurant is located on the 21st floor this is because the IT
dept. is not that necessary for guests meanwhile restaurant is
more accessible to guests. For easiness to reach and eat.

~Equity: -Everyone is treated as equals despite the seniority

in the positions nobody is inferior and are equals despite
caste, race, religion or job nobody is considered as an
inferior person here the quality of work defines the person’s
reputation and existence and everything else in the firm.
Everyone here has equal chance to rise up and obtain
promotions and rewards. Nobody here is defined by any
background or money.
~Esprit De Corps: -Employees are supposed to work with
the sense of oneness with each other without seeing who is
superior than the other and work cooperatively and with a
sense of dignity and respect towards each other’s jobs.

16
~ Centralization and Decentralization: -decentralization is
the distribution of power in the hands of the subordinates
who don’t have that much experience this is done to increase
their efficiency in working increase their job experience and
be good in the job which is actually good for them this
ensures their survival in the corporate world meanwhile
centralization is Concentration of power in the hands of the
topmost this happens only in the case of some very
important work happens in the firm which is very sensitive
and confidential.
~Unity of command: - only one boss for every individual
employee. For example, if an employee gets orders from 2
superiors at the same time it will get confusing for the
subordinate.so in order to avoid this step there is only 1 boss
from whom the employee has to take orders and follow as
said.
~Remuneration to Employees: - Fair and equal to employees
who are almost equals in the jobs for example a marketing
manager has an equal salary to the finance manager.
remuneration is just and equitable. This ensures a friendly
atmosphere and good relationship between workers and firm.
~Stability of Personnel: - Employee turnover is minimized to
maintain organizational efficiency; they have stability of
tenure. They are given reasonable time to show results of
their work and the experience they have gained as time
passes

17
Authority and Responsibility
The head of the department has the authority to assign duties
to subordinates and the subordinates have the responsibility
to perform that assigned duty with complete honesty and
sincerity and make sure it has a minimum quality. Authority
means the power to take decision. Responsibility means
obligation to complete job assigned to them in the best way
possible. This principle helps in defining the relationship
between managers and their subordinates, ensuring a clear
and efficient organizational structure. In the hotel, different
levels of management are granted varying degrees of
authority. General managers have authority over the entire
hotel, department heads have authority within their specific
departments, and frontline staff have authority within their
assigned tasks. Each position in the hotel has a defined set of
responsibilities. For example, the front desk staff is
responsible for guest check-ins and check-outs,
housekeeping staff is responsible for maintaining cleanliness
in rooms, and the food and beverage manager is responsible
for the restaurant's operations.

24
Division of Work
The division of work, often referred to as the division of
labor, is a key principle of management that involves
breaking down tasks and responsibilities into smaller
specialized components. This principle is essential for
optimizing efficiency and productivity within an
organization. In the hotel the division of work is crucial for
ensuring the smooth operation of various departments and
delivering high-quality services. each performed by a
specialist or trained employee. This results in efficient and
effective output. Thus, in the hotel we have separate
departments for finance, marketing, IT etc. All of them have
specialized persons. Collectively they achieve Budget or
customer satisfaction targets of the hotel. different
departments specialize in specific functions. For example,
the front desk handles guest check-ins and check-outs,
housekeeping is responsible for room cleanliness, and the
kitchen staff specializes in food preparation. Specialization
allows employees to become experts in their respective
roles, leading to increased efficiency. Work has to be
divided among the officials in such a way that the person
chosen for the work should be apt and a person with a
certain skill set should chosen for the job.

25
Discipline
Discipline is crucial in the hotel to ensure smooth operations,
maintain a positive work environment, and provide excellent
service to guests.it helps to Establish a code of conduct that
outlines the expected behavior of employees at all levels
within the hotel. Clearly define the consequences of
violating the code of conduct and ensure consistency in
applying disciplinary actions. Apply discipline consistently
across all employees to avoid perceptions of favoritism or
unfair treatment also helps to ensure that the consequences
for rule violations are fair and proportionate to the offense.
Establishes a formal process for resolving conflicts among
employees. Encourages an open communication and
mediation to address and resolve conflicts before they
escalate. Effective discipline principles in hotels contribute
to a harmonious work environment, enhance guest
satisfaction, and promote the overall success of millennium
place marina as a great hotel to stay in. There is a certain
code of conduct and guidelines that everybody must adhere
to while doing work or while communicating with guests or
with other staff.

26

Subordination of Individual Interest to General Interest

The subordination of individual interests to the general or
common interest is a fundamental principle in many
industries, including the hotel industry. This principle
emphasizes the importance of employees prioritizing the
overall goals, values, and success of the hotel over personal
interests. Employees are expected to prioritize the needs and
satisfaction of hotel guests over personal preferences or
convenience. Providing excellent customer service is a
shared goal that requires employees to align their actions
with the overall mission of the hotel. Employees are
expected to align their actions with the mission and values of
the hotel. This may involve making decisions that support
the long-term success and reputation of the business.
Understanding and embracing the hotel's vision helps create
a motivated workforce. subordination of individual interests
to general interest in the hotel industry involves aligning
personal actions and decisions with the broader goals and
values of the hotel. This principle is essential for creating a
cohesive and successful hospitality environment that
prioritizes guest satisfaction and overall business success.

27
Scalar Chain
The scalar chain principle, also known as the chain of
command, is a management concept that emphasizes a clear
and unbroken line of authority within an organization. In the
hotel the scalar chain principle helps establish a hierarchical
structure that ensures efficient communication The scalar
chain that is being followed here in this company is: -

28
Order
The principle of order states that there should be a place for
everything and everyone in its place. Essentially it means
orderliness. If there is a fixed place for everything and it is
present there, then there will be no hindrance in the activities
this will lead to increased productivity and efficiency. In the
hotel The order principle in hotels often refers to
maintaining a clear organizational structure. This involves
establishing a hierarchy of roles and responsibilities,
ensuring that each employee understands their position and
reporting lines. Well-defined roles and responsibilities
contribute to a sense of order within the organization,
facilitating efficient communication and decision-making.
such as the IT department is located in the 1st floor of the
hotel. And the restaurant is located on the 21st floor this is
because the IT dept. is not that necessary for guests
meanwhile restaurant is more accessible to guests. For
easiness to reach and eat.

29
Equity
This principle emphasizes kindliness and justice in the
behavior of managers towards workers. This will ensure
loyalty and devotion towards the workplace. In the hotel no
kind of discrimination against anyone on account of sex,
religion, language, caste, belief or nationality etc. In practice
we can observe that nowadays in multinational corporations
people of various nationalities work together in a
discrimination free environment. Equal opportunities are
available for everyone in the company to rise. Transparent
communication about policies, procedures, and decision-
making processes is essential. Employees should understand
how decisions are made and the criteria used for various
management actions. Equitable workload distribution is
crucial in hotels. Employees should be assigned tasks and
responsibilities in a fair manner, taking into consideration
their skills, experience, and workload capacity. Transparent
and equitable compensation systems contribute to employee
satisfaction and help avoid feelings of unfairness.

30
Centralization and Decentralization
The degree of centralization will depend upon the
circumstances in which the company is working. In the hotel
they have more decentralization than other organizations.
This helps to increase the experience and ability of
subordinates to achieve more than previous performance
also enables them for getting promotion as company would
chose them for any upcoming rewards because of the quality
of their work. Centralization is less seen in the hotel where
decision is taken mainly regarding decisions related to
overall strategy, important policies are made by the general
manager. The centralization of decision-making allows for
consistency in policy implementation and a clear chain of
command. Meanwhile majorly or for daily decisions hotel
opts for decentralization to allow for more localized
decision-making. This can be beneficial when dealing with
diverse markets and customer preferences. Decentralization
can empower front-line staff and middle managers to make
decisions related to daily operations, customer service, and
specific departmental functions.

31

Remuneration
 Managers of the hotel follow policies and practices related
to the compensation and benefits provided to employees.
Effective remuneration strategies are crucial for retaining
and motivating a skilled and dedicated workforce in the
hospitality industry. Offer competitive salary and wages that
are in line with industry standards. This helps attract and
retain qualified individuals in various roles within the hotel,
from front-line staff to managerial positions. This provides
an incentive for employees to excel in their roles and
contribute to the success of the hotel. People who prove their
dedication and hard work to the hotel is provided with
various incentives and bonus such as bonus, full attendance
bonus etc. The hotel also tries best to ensure that
remuneration practices followed comply with local and
national employment laws and regulations. This includes
minimum wage requirements, overtime rules, and other legal
considerations. In order to ensure that everybody is paid
equally and the company has no distinction.

32
Esprit De Corps
Management should promote a team spirit of unity and
harmony among employees. Esprit de corps, a French term
meaning "spirit of the group" or "morale," is a principle of
management that emphasizes the importance of fostering a
positive and unified team spirit within the hotel. In the hotel
creating and maintaining esprit de corps is crucial for
building a motivated and cohesive workforce, which, in turn,
contributes to the overall success of the establishment.
Hotels focus on team-building activities and initiatives to
strengthen relationships among employees. This can include
team-building workshops, team bonding, and collaborative
projects. Encouraging a sense of oneness helps build a
positive team spirit and enhances the overall work
environment. Leaders play a crucial role in promoting esprit
de corps. Leaders should follow the values they want the
team to embrace, fostering trust and respect among team
members. Be supportive of the team's needs and challenges.
When team members feel supported by their leaders, it
contributes to a positive team spirit.

33
Stability of Personal
The stability of personnel principle in the hotel refers to the
practice of maintaining a stable and consistent workforce
over time. This principle emphasizes the benefits of
retaining experienced and knowledgeable employees within
the hotel. the retention and continuity of employees within
an organization. The hotel believes that maintaining a stable
and experienced workforce can have several advantages.
This hotel performs maximum efforts to create a positive
work environment, address employee concerns, and provide
opportunities for career growth, reducing the likelihood of
staff leaving the organization. The hotel establishes long-
term relationships with employees and believes that its a key
aspect of this principle. The employees stay with the hotel
for an extended period, they usually become familiar with
the organization’s procedures, and guest expectations,
contributing to operational efficiency. As the employees
experience stability in their roles, it can positively impact
morale and motivation.

34

Some of The Gadgets Within the Room

 35
Things Done To Protect The Environment By the Firm
- Recycle Bins placed in multiple areas around the hotel
to improve the condition of the hotel and making the
environment pleasant and more livable and comfortable
and also to not pollute the environment.
- Scanners are used to see when Ac is used when not
necessary so they can turn it off and not emit
greenhouse gases which is emitted by air conditioners
when in use. This greenhouse gas is a main reason for
global warming which is a threat as it causes a lot of
problems such as irregular rains, extreme heat even in
winter and melting of ice in the artic.
- The whole hotel has trees and indoor plants such as
spring bamboo, Money plant, etc. Which are treated
using bonsai treatment which enables even a
completely grown tree to appear as small tree thereby
adding a natural touch and at the same time making the
air for fresh and healthy.
- Water conservation steps are taken in the hotel such as
all used towels are cleaned and sanitized using dry
cleaning and other methods where water is not used
unnecessarily.

36
Future Plans of the Firm
- Clear Vision and Mission: One of the main objective
aimed to achieve by the firm is to define a compelling
vision that outlines what the firm aims to achieve in the
long term. A well-defined mission statement should
also convey the firm's purpose, values, and the problem
it seeks to solve.
- Market Research and Analysis: Another goal is to
continuously monitor and analyze industry trends,
customer preferences, and competitive landscapes to
identify opportunities and threats to the firm. Use this
information to make informed decisions and adjust
strategies accordingly.
- Strategic Goals and Objectives: Set specific,
measurable, achievable, relevant, and time-bound goals
that align with the firm's vision. These goals provide a
roadmap for the organization's growth and development
which paves way for the next goals of the whole firm
along with its department.
- Innovation and Adaptation: Develop strategies to
encourage innovation and adaptability. Embrace
emerging technologies and trends that could shape the
industry, and be prepared to pivot if necessary.

37
- Product and Service Development: Plan how the firm
will enhance or expand its products and services to
 meet changing customer needs. This could involve
research and development efforts, as well as
incorporating customer feedback.
- Market Expansion: Consider opportunities for
geographical or market segment expansion. Assess the
feasibility of entering new markets and develop
strategies for reaching the considered goal of the
department.
- Human Resources Strategy: Outline plans for hiring,
training, and retaining talent. A skilled and motivated
workforce is crucial for achieving the firm's goals.
- Financial Management: Create a financial plan that
includes budgeting, forecasting, and resource
allocation. Ensure that the firm's financial resources are
used efficiently and effectively.
- Risk Management: Identify potential risks and develop
strategies to mitigate them. This could involve
diversification of products or markets, contingency
planning, and insurance coverage.

38
- Sustainability and Corporate Social Responsibility:
 Integrate sustainability practices and ethical
considerations into the firm's plans. This could involve
reducing environmental impact, promoting diversity
and inclusion, and giving back to the community.
- Marketing and Branding: Develop marketing strategies
to enhance brand visibility and attract customers.
Consider both traditional and digital marketing
approaches that resonate with the target audience.
- Technology and Infrastructure: To Understand and
Evaluate the firm's current technology infrastructure
and to plan for the next upgrades or investments in new
systems that can improve operational efficiency and
customer’s experience.
- Partnerships and Collaborations: Identify potential
partners, suppliers, and collaborators that can contribute
to the firm's growth. Strategic alliances can provide
access to new resources and markets.
- Measurement and Evaluation: The firm has to establish
performance indicators to track progress toward goals.
And regularly review and evaluate the firm's
performance and adjust strategies as needed.

39
- Crisis and Contingency Planning: The firm has to
 develop a plan to address unexpected crises, such as
economic downturns, natural disasters, or industry
disruptions for e.g: - the corona pandemic. Having a
solid contingency plan can help the firm navigate
challenges more effectively.

The firm must always remember that future plans should be

flexible and adaptable. As the business environment evolves,
the firm should be prepared to adjust its strategies to remain
competitive and relevant. They regularly revisit and update
the firm’s goals plans to ensure the managers of the firm
reflect the changing landscape and the firm's evolving goals.

40
Conclusion
The firm is simply outstanding and warm in the inside. The
relations are so close almost as if family although I have
gone there only for 1 day. I have seen and experienced the
warmth, friendships and senior – subordinate relationships of
everyone there they are so friendly and treat each other as if
their own another important aspect is that here each other is
defined based on the work they do more the work completed
more the respect you get which is mostly seen in many firms
and industries. Many people even hangout with each other
after their work is completed. Another aspect is certain
training opportunities are provided to the firm’s employees
which the firm directs certain employees to attend and earn
certain experience which improves the condition of the work
done by them. So the firm itself ensures the workers survival
even if anything unexpected ensures that because of their
experience they are able to get a job in another firm. Every
department in the firm has certain excellent personnel who
are the epitome of the work they perform and are expected to
control, coordinate, direct, follow the rules, employ staff,
resign the unnecessary people and to submit the work to
their own heads and then follow the chain of command
according to the firm.

41
Bibliography
- https://www.linkedin.com/in/sajith-pillai-
2a6bb947/
- https://www.millenniumhotels.com/en/dubai/
millennium-place-marina/?
utm_source=google&utm_medium=cpc&utm_ca
mpaign=MENA&utm_content=millennium
%20place
%20marina&utm_term=external&gad_source=1&
gclid=CjwKCAiAjfyqBhAsEiwA-
UdzJDM6ga4oBKY_4ECjaLK067dgGPeKA6ydy
VnETeXX4e8EtZ81CDAcVBoCeFIQAvD_BwE
&gclsrc=aw.ds

42