Overview
Please do the below on the for Marriott Hotels Group. Product (Hotel Room)
ChatGPT is a must.
Attached: Guidelines files and Sample of previous applied paper for reference.
The goal of this paper is to use what we've learned in class to look at how Artificial Intelligence (AI) is changing the way we produce and sell goods and services. Groups will pick goods or services and study them as a case, with a special focus on AI. You'll look into how AI affects things like prices, the market structure, the cost of production, consumer behaviors, and how well businesses do. If you decide to join the university-level poster competition, you need to use real data, conduct an empirical analysis to test certain hypotheses, and have some interesting findings that are worthy to share with everyone. This project is more than just homework – it's an opportunity to see into the future of how businesses might work in the Age of AI.
Once you decide on your company, please conduct compressive research within three main areas as outlined below:
• Market Structure and Competition: Investigate the competitive landscape, assessing the number of competitors, market concentration, and potential barriers to entry.
• Profitability and Performance Analysis: Evaluate key financial metrics within the industry, such as return on investment, profit margins, and cost structures.
• Historical Trend Analysis: Analyze past industry performance, identifying growth patterns, cyclical trends, and any disruptive events.
• The Role of Government: Examine the influence of government policies, subsidies, and regulations on the industry.
• National and International Market Comparison:Compare and contrast the industry’s dynamics across different countries and regions, considering factors like market size, growth rates, and competitive intensity.
Company Analysis:
• Brief Company Profile: Provide an overview of the company, including its size, scope of operations, and positioning within the industry.
• History: Trace the company’s development, noting key milestones, strategic shifts, and historical challenges and successes.
• Market Share, Profitability, and Performance Analysis:Assess the company's market position and financial health, analyzing how it stacks up against industry averages.
• Corporate Governance, Principal-Agent Problem, and Incentive Structure: Discuss the company's leadership, governance structure, and incentive models to address principal-agent problem.
• Comparative Analysis: Identify the company's strengths and weaknesses in relation to its competitors by comparing resources, capabilities, and market positioning.
Product Analysis:
• Demand and Supply Analysis: Examine how past, present, and anticipated future prices are influenced by demand and supply dynamics.
• Pricing Policy and Profit Margin: Discuss the company's approach to pricing and how it impacts profitability.
• Factors Affecting Pricing and Profitability: Analyze cost drivers, market demand, competitive pricing, and other external factors.
• Demand Analysis: Utilize actual data to evaluate how quantity demanded varies with price changes.
• Supply Analysis: Study production costs and other supply-side factors to understand pricing mechanisms.
• Elasticity Calculations: Calculate and interpret various elasticities of demand and relate these to the company's pricing strategies.
• Consumer Theory and Preferences: Apply consumer theory to map out preferences for the product using tools like indifference curves.
• Cost Analysis: Break down the cost structure of the product, including average and marginal costs, and analyze the optimal allocation of resources.
• Revenue Analysis: Evaluate the company's revenue streams by analyzing average revenue (AR), price (P), marginal revenue (MR), and total revenue (TR).
• Profit/Loss Analysis: Assess the company's profitability in the short and long term, considering both economic and accounting perspectives.
• Efficiency Analysis: Judge the efficiency from the standpoint of consumers, producers, and overall societal welfare.
AI Impact Analysis
For your applied paper, an entire section should be dedicated to analyzing the impact of Artificial Intelligence (AI) on the industry, company, and product levels. This section should discuss how AI might be a transformative force reshaping the business landscape. Below are the enhanced guidelines for each sub-section within the AI Impact Analysis:
• Industry-Level AI Impact:
• Delve into how AI technologies are redefining competitive strategies, altering market structures, and potentially disrupting the status quo.
• Explore the role of AI in setting industry trends, influencing operational norms, and driving innovation, with an eye on long-term sectoral transformations.
• Company-Level AI Impact:
• Investigate the strategic integration of AI within the company’s core business processes and its effect on the company's market positioning and competitive edge.
• Analyze the tangible potential outcomes of AI adoption on the company's financials, such as market share growth, profitability, cost savings, and return on investment.
• Product-Level AI Impact:
• Examine the application of AI in pricing analytics, demand forecasting, and dynamic pricing strategies, focusing on how it influences the product's price point in the market.
• Assess how AI enhances the production process, from supply chain optimization to quality control, and its contribution to reducing costs while maintaining or improving product quality.
In crafting this section, it's crucial to incorporate real-world examples and quantitative data if available to support your analysis. Be critical in your examination and make sure to discuss not only the opportunities AI presents but also the challenges and potential risks associated with its implementation in the industry, company, and product contexts.
ChatGPT Policy
As part of the evolving landscape of business analysis and decision-making, it's essential to familiarize yourselsef with cutting-edge technologies, one of which is artificial intelligence, particularly in the form of advanced language models like ChatGPT. In this applied paper assignment, you are required to utilize ChatGPT as a research assistant to explore various aspects of your chosen company and product within its industry context.
The use of ChatGPT is intended to supplement your research, providing insights, generating data analysis, or even helping draft sections of your paper. However, reliance on AI should be strategic and critical, with a keen eye on its integration into your larger analysis. The core of your paper should reflect your original thought, analytical skills, and your ability to synthesize information from multiple sources, including ChatGPT.
Your usage of ChatGPT will be critically evaluated. The grading will focus on how effectively and accurately you employ ChatGPT within your applied paper. You are responsible for any information sourced from ChatGPT, and as such, any errors or inaccuracies found post-submission will impact your grade negatively. Here are the critical aspects for which you'll be assessed:
• Effective Utilization: The ability to adeptly integrate ChatGPT’s output into your overall analysis, demonstrating a seamless blend of AI-generated content with your evaluative commentary and critical thought.
• Accuracy and Verification: Your diligence in verifying the information obtained from ChatGPT and ensuring its accuracy within your paper. Failure to correct errors will result in a deduction of marks.
• Critical Reflection: Your paper should include a section that thoughtfully examines the strengths and weaknesses of ChatGPT, anchored in your personal experience with the tool during the assignment. This reflection must go beyond superficial commentary and provide concrete examples, particularly of any errors encountered and how you addressed them.
• Strategic Advice: Based on your interaction with ChatGPT, you should offer well-reasoned advice on harnessing the tool effectively for business analysis and research. Your insights should guide future use and outline potential areas of caution.
Remember, ChatGPT is a tool, and like any tool, its effectiveness is determined by the skill of its user. This assignment will test your ability to leverage AI within the analytical process, not just your ability to query an AI. Your submissions should be original, insightful, and reflective of a nuanced understanding of the role AI can play in business analysis.
Strict Prohibition of Outsourcing and Plagiarism
Be advised that we conduct a thorough plagiarism check of your final report using Turnitin software. There is a stringent policy against outsourcing and plagiarism in place. If any portion of your team's work is found to have been outsourced, all members of the team will receive a failing grade, regardless of the extent of the outsourcing involved. Take this policy seriously and ensure all work submitted is your own.