Corporate Governance and Hotel Chain Essay

Submitted By Nirmal-Kollara
Words: 461
Pages: 2
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Group #6
ISYS 630 601
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Members:
Das, Mriganav
Kollara, Nirmal
Ramakuru, Sai Karthik

Document name: Organizational description
Document version: v1.0

Version history:

Version
Date
Author(s)
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v1.0
02-16-2014
Das, Mriganav; Kollara, Nirmal; Ramakuru, Sai Karthik
Organizational description document as part of assignment 1

Organizational description:
DRK hotels started its operations in the year 1989 with its first hotel in San Antonio. Since then the hotel chain has spread across all business districts in Texas and as well as the neighboring state of Louisiana. Currently, the chain operates a 24 hotels with an employee strength of 500. DRK Hotels reported an annual turnover of 25 million in the fiscal year that ended in 2014. Major magazines have put the hotel chain among top 5 in Texas and Louisiana for its quality of services. DRK is run by a board of directors and current CEO Mriganav Das oversees the day to day operations of the hotel chain.
Organizational Structure:

Board of directors
A board of directors comprising of DRK hotels founders and venture capitalists oversee the activities of the hotel chain.
Some duties of the board of directors are:
Steer the business strategies
Appoint C-level executives
Analyze the financial position of the organization and approve annual budgets
The board of directors is answerable to the stakeholders of the organization.
Chief Executive Officer (CEO):
The CEO oversees the operations across all hotels of DRK chain.
Some duties of the CEO are:
Appoint general managers for each hotel and review and appraise the performance of the general managers
Ensure that the company is functioning as per the rules and guidelines established by its founding members
Keep the board of directors informed and make sure the board has proper data to form sound judgments
CEO reports directly to the board of directors.
Chief Financial Officer (CFO):
Some duties
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