hospatility and tourism strategic planning :based on the travelodge

hospatility and tourism strategic planning :based on the  travelodge Essay example
Masters
Essay
Tourism
Pages 20 (5020 words)
Download 0
Task 1: HOSPITALITY AND TOURISM STRATEGIC MANAGEMENT Introduction The art and science of formulating, implementing and evaluating multi-functional business approaches and decisions in order to make sure that the business firm achieves its goals and objectives effectively in the short and the long run is the Strategic management…

Introduction

Strategic Management planning and decisions are made by the top management of any organization and is often initiated and led by the board of directors and practically executed by the firm's Chief Executive Officer (CEO), Chief Operations Officer and other executives. The foresightedness and clear vision of a firm’s management and their awareness of the company’s external environment with the anticipated problems, prediction of market trends and ability to come with new and realistic ideas decides the future of the company (Okumus, Taylor and Chathoth 2010). This is even more so true in today’s global volatile economy. Management’s foresightedness enables them to identify opportunities and detect threats, and helps the ground level managers in developing strategies and formulate and implement them for sustainable growth of the company (Enz 2009). Strategic Management: Need of the Hour Strategic planning has seen a vast improvement and has evolved in recent times, more so with the volatile economy and intense market competition. ...
Download paper
Not exactly what you need?

Related papers

Develop a tourism planning
If it is found not to benefit in any way then another option is picked. In the tourism planning several issues are regarded which encompasses the environment in which the actual planning is taking place. The socio-economic is one important factor, physical and political factors are considered when deciding on the planning. These are either interrelated or interdependent components of the system…
Strategic tourism planning
Private businesses have also served leadership capacities, including the gathering of support for certain collaborative ads and promotions and publishing newsletters, websites and a magazine about Floyd. The Floyd County Chamber of Commerce has been playing a significant role in the supporting of local businesses in the long time. A significant revitalization part has been performed by the…
Hospitality and Tourism Strategic Planning
The rooms of this hotel had the facility of running water, though cold, and the air condition luxury in its public rooms. It was in the year 1947 when a hotel named Roosevelt Hilton was launched at New York City. This hotel pioneered in providing its guest rooms with televisions. By the year 1948, the Hilton Hotel was identified as the first hotel company to come up with the new system of…
An Approach to Community-Based Tourism Planning in the Baffin Region, Canada's Far North: A Retrospective
This makes tourism in the area during the summer to boom since sports hunting and fishing are forms of consumptive tourism. The Baffin region’s setting poses both challenges and avenues for economic development. The aboriginal people of the Baffin, through consumptive tourism, contribute to the progress of this part of Canada. The area’s community (the Inuit of Nunavut) is relatively in…
Policy and planning tourism
Here, we will examine the manner in which the Ministry of Trade and Information Singapore formulates certain economic strategy and the manner in which they are in compliance with the basic economic management philosophy of free market economy and outward oriented economic policies. Accordingly, this paper will also delve into the manner the tourism policies have been formulated so that they comply…
Tourism Policy and Planning
Hong Kong offers visitors the opportunity to experience the glimpse of its culture which is a fascinating experience as this great city has successfully combined the essence of an ancient and a modern world. Hong Kong acquired independence from Britain and became part of main land china in 1997. This transition changed tourism in the city a lot as many infrastructures were built afterwards.…
Tourism Policy and Planning
On exploiting these opportunities, the Tourism industries can indeed open doors for more variety in the offerings like the food chain, entertainment, shopping and heritage sites (The Tourist Offices Of Spain, 2013; City Of York Council, 2003). This gives immense scope to incline the differentiating factors like the culture, history, heritage, language, lifestyle and natural resources.  While…