1. Explain each of the component activities in the definition of strategic management process (situation analysis, strategic direction, strategy formulation & strategy implementation).
MODULE TITLE: Strategic Planning for the Hospitality Industry
Learning Outcomes Covered:
1. Determine and apply the range of appropriate theories, models and conceptual frameworks that can be used to formulate a business strategy
2. Interpret and critically assess the internal and external factors affecting organisations operating within the hospitality industry and apply this knowledge to evaluating the organisation’s competitive and strategic position
3. Generate and evaluate strategic options to account for a range of possible contexts.
The Group (maximum 4-5 individuals in each group) are required to select an organisation from any of the following Hospitality and Tourism related sector, also the selected organisation need to be agreed by the module leader. Your group should prepare (maximum 16-20 slides in total addressing the presentation questions below. The duration of the presentation should be a maximum of 45 minutes in total for each group.
1. Explain each of the component activities in the definition of strategic management process (situation analysis, strategic direction, strategy formulation & strategy implementation). Which of these activities do you think is most important to the success of your chosen organisation? Why?
2. Conduct Porter’s five forces model analysis and explain how it can be used to formulate the business strategy of your selected organisation. (LO 1) 25 marks
3. Analyse the PESTEL and SWOT of your selected organisation and how can this be used to formulate competitive advantages of your selected organisation? (LO 2) 25 marks
4. Evaluate the most popular strategic options of your selected organisation. (LO 3) - Franchising - Management Contracts - Joint Ventures - Mergers and Acquisitions
100% Plagiarism Free & Custom Written,
Tailored to your instructions