Please enable JavaScript.
Coggle requires JavaScript to display documents.
Overview of strategy and strategic goals of tourism and hotel businesses -…
Overview of strategy and strategic goals of tourism and hotel businesses
The concept of strategy
Chandler (1962)
the determination of the basic long-term goals and objectives of an enterprise
Three elements
determination of the basic long-term goals and objectives
adoption of courses of action
allocation of resources
Mintzberg’s five Ps
a plan: goals, action plans and resources and logic/consistency between these aspects
a ploy: short-term strategies/intentions to discourage a competitor/increase consumption
a pattern of behavior: which positions? Way to maintain/strengthen the position
a position in respect to others: which behaviors to be patterned or which are mostly unconscious behaviors in the way of doing/operating business
erspective: perspectives on which aspects of an organisation
3 levels
Strategic (primary focus)
Outline the organization's limits
Determine the direction and affect the survival of the entire organization
Shape the organization's goals
Indicate the resources to be exploited and how to allocate them
Determine the effectiveness of achieving organizational goals
Affect the whole organization or a substantial part of the organization
Medium/long-term in nature
Tactical
Concerned with how to implement strategies
Made by the head of the business unit or functional area
Affect a part of the organization
Medium-term (months to 1-2 years)
Operational
Concerned with short-term objectives of the business – day-to-day operations
Dependent upon strategy and tactics
Made by supervisory level
High certainty and not complex
Organizational mission, vision, values, and objectives
Objectives
Two forms
Closed: stated in quantitative terms, specific in form and timescale.
Open: stated in qualitative terms, general in form and timescale.
Function
provide a standard of measurement
provide a sense of direction
project an image of the organization’s style.
Kinds of objectives
Economic objectives
Social objectives
Growth or market share objectives
Competitive advantage objectives
Corporate objectives
apply the medium-to- longterm
relate to the whole organization
set by senior management;
relate to a number of key areas of concern
can be pursued simultaneously.
Mission
an organization’s mission describes what the organization does.
the objective that subsumes all others beneath it
represents a long-term perspective
Vision
an organization’s vision sets out some desired future state
Values
how managers and employees should conduct themselves
how organization should do business