Hospitality Strategic Management: Concepts and Cases, 2nd Edition

by Cathy A. Enz (School of Hotel Administration, Cornell University )

• ISBN13: 9780470320174
• ISBN10: 0470320176
• Format: eBook
• Copyright: 2009-04-01
• Publisher: Wiley

Summary

Updated to include the current models, theories, and hospitality practices, Hospitality Strategic Management: Concept and Cases, Second Edition is a comprehensive guide to strategic management in the international hospitality industry. Author Cathy A. Enz uses the case study approach to cover current topics such as innovation, entrepreneurship, leadership, ethics, and franchising. Eight full case studies with exhibits and documents address the areas of lodging, food service, tourism e-commerce, gaming, cruise lines, and airlines, making this book ideal for executive level training courses or hospitality industry executives interested in developing their strategic management skills.

Table of Contents

Preface

About The Author

Strategic Management.

Introduction

The Origin of Strategic Management

The Traditional Perspective

The Organization as a Bundle of Resources: The Resource-Based View

The Organization as a Network of Stakeholders

The Strategic Management Process

Situation Analysis

Strategic Direction

Strategy Formulation

Strategy Implementation

Global Competitiveness in the Hospitality Industry

Variables Affecting Strategic Management

Strategic Thinking

Strategic Planning Can Drive out Strategic Thinking

Characteristics of Strategic Thinking

Motivating Managers and Employees to Think Strategically

Strategic Management in the Hospitality Industry

The Foodservice Industry--The Players

The Lodging Industry--The Players

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

The Environment and External Stakeholders.

Introduction

Assessment of the Broad Environment

The Sociocultural Context

The Economic Context

The Political Context

The Technological Context

Change and Interdependence among the Broad Environmental Forces

Gathering Information on International Environments

Analysis of External Stakeholders and the Operating Environment

PorterÆs Five Forces, Economic Power, and Industry Characteristics

External Stakeholders, Formal Power, and Political Influence

Managing the Operating Environment

Economic Actions

Political Strategies

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Strategic Direction.

Introduction

Creating a Strategic Direction

Key Influences on Direction

Mission Statements

Organizational Vision

Organizational Values

Social Responsibility

Enterprise Strategy

Ethical Frames of Reference

Codes of Ethics

Ethics in Global Environments

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Organizational Resources and Competitive Advantage.

Introduction

Internal Analysis and Competitive Advantage

Sustainable Competitive Advantage

Value-Adding Activities

The Value Chains of Wine Makers

Value-Chain Activities

The Tourism Value Chain

Tangible and Intangible Resources

Resources and Capabilities

Financial Resources

Financial Ratios

Physical Resources

Architectural and Sustainable Design

Human-Based Resources

Strategic Leadership

Ownership and Management

Employees

Structure and Culture

Knowledge-Based Resources

Internal Knowledge Creation and Organizational Learning

Knowledge Creation

Knowledge Creation and Interorganizational Relationships

General Organizational Resources

Patents, Copyrights, Trademarks, and Servicemarks

Brands and Organizational Reputation

Superior Relationships with Stakeholders

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Strategy Formulation at the Business Unit Level.

Introduction

Generic Business Strategies

Cost Leadership

Differentiation

Best Value

Focus

Competitive Dynamics

Strategies that Reflect Competitive Dynamics

Resources, Industry Structure, and Firm Actions

Strategic Group Mapping

Developing a Strategic Group Map

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Corporate Level Strategy and Restructuring.

Introduction

Concentration Strategies

Advantages and Disadvantages of a Concentration Strategy

Vertical Integration Strategies

Advantages and Disadvantages of a Vertical Integration Strategy

Vertical Integration and Transaction Costs

Substitutes for Full Vertical Integration

Diversification Strategies

Related Diversification

The Creation of Synergy

Unrelated Diversification

Mergers and Acquisitions

Consolidation

Merger Performance

Successful And Unsuccessful Mergers And Acquisitions

Strategic Restructuring

Turnaround Strategies and Downsizing

Refocusing Corporate Assets

Reorganization

Leveraged Buyouts

Changes to Organizational Design

Portfolio Management

The Boston Consulting Group (BCG) Matrix

Destination Portfolio Analysis

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Strategy Implementation Through Interorganizational Relationships and Management of Functional Resources

Introduction

Interorganizational Relationships and the Tourism Cluster

Advantages and Disadvantages of Interorganizational Relationships

Stakeholder Management and the Selection of Partners

Buffering vs. Partnering

Effective Stakeholder Management

Managing Partnerships

Functional Level Resource Management

Marketing Strategy

Human Resources Strategy

Operations Strategy

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Strategy Implementation Through Organizational Design and Control.

Introduction

Organizational Structures

Simple Management Structures

Business Level vs. Corporate Level Structures

Types of Business Level Structures

Corporate Level Structures

The Lateral Organization

Simple Coordinating Mechanisms

Formal Integrators

Organizational Control

Strategic vs. Financial Controls

Feedback-Control Systems

Feedforward Control

Other Types of Controls

Crisis Prevention and Management

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Strategies for Entrepreneurship and Innovation.

Introduction

Entrepreneurial Start-ups

The Entrepreneur

Entrepreneurial Tasks

Franchising

Causes of Failure

Innovation and Corporate Entrepreneurship

Fostering Innovation in Established Firms

The Internet and E-Commerce

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Global Strategic Management and the Future.

Introduction

Global Strategies

Multidomestic, Global, and Transnational Strategies

Market Entry Tactics

International Alliances and Business Format Franchising

International Market Selection

Institutional Differences

National Advantages

Global Stakeholders

Stakeholder Management in Foreign Environments

Strategic Management in Hospitality Firms in the Future

Key Points Summary

Review Questions

Critical Thinking & Application Questions

Notes

Cases

Case Study Matrix

Case Note: Learning Through Case Analysis

The Fun Ship Experience at Carnival Cruise Lines

Building Capabilities at The Westward Hilton

Intercontinental Hotel GroupÆs Entry Into China

The Summer of 2006 Union Negotiations: Unite HereÆs Strategy

Banyan Tree: Sustainablility of a Brand During Rapid Global Expansion

Starwood Hotels and Resorts Brings Aloft to India

The Commoditization of Starbucks

The Movement of Travel Services Online: Intermediaries and Branded Distribution

Glossary

Index

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