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Hospitality Strategic Management: Concepts and Cases, 2nd Edition

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

ISBN13: 9780470399293
ISBN10: 0470399295
Edition: 2nd
Format: eBook
Copyright: 2009-04-01
Publisher: Wiley

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1. Hospitality Strategic Management: Concepts and Cases, 2nd Edition > ISBN13: 9780470399293

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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.

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
Partnering with External Stakeholders
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
Table of Contents provided by Publisher. All Rights Reserved.

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Rent More, Save More! Use code: ECRENTAL

Rent More, Save More! Use code: ECRENTAL

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Hospitality Strategic Management: Concepts and Cases, 2nd Edition

Summary

Table of Contents

Supplemental Materials

Rewards Program