Lecture 1 Strategic Management THE Strategic

Transcript:Lecture 1 Strategic Management THE Strategic:
Lecture 1 Strategic Management THE Strategic Management for Tourism Hospitality & Events Mission – Vision – Goals What the organisation is trying to be and trying to achieve; require congruency and fit between levels; an overall enduring purpose – Mission; a desired future position – Vision; translating mission and vision into specific goals and objectives: corporate objectives business objectives unit and personal objectives. Strategic Management for Tourism Hospitality & Events Vision Mission Values http://hiltonworldwide.com/about/mission/ http://www.visitflorida.org/about-us/what-we-do/ https://investor-relations.lufthansagroup.com/en/fakten-zum-unternehmen/group-strategy.html#c10942 http://doc.rero.ch/record/255098/files/Rio_2016_-_Style_guide_final_january_2015.pdf Internal analysis summary of study progress; purposes of internal analysis; components of internal analysis; the strategic process – where does internal analysis fit in? Strategic Management for Tourism Hospitality & Events Summary of Study Progress Where have we got to? an introduction to the subject matter; establishing the THE context Following we will analyse the internal aspects of organisations – their functional areas, which are considered in turn. operational competencies, resources and competitive advantage; human resources; financial resources; products and markets; After that we will consider the external aspects of strategic analysis. Strategic Management for Tourism Hospitality & Events Internal Analysis What’s the purpose? internal analysis is concerned with providing the management of THE organisations with a detailed understanding of their organisations with respect to: how effective current strategies are; how effectively resources have been deployed in support of chosen strategies; internal analysis – managers may gain insights and understanding of how competitive advantage might be achieved; main techniques and frameworks which can be employed to enable THE managers to produce a comprehensive internal analysis of their organisation. Strategic Management for Tourism Hospitality & Events Internal Analysis What’s the purpose? THE organisations should carry out a robust and thorough internal analysis for a number of reasons, including: to identify resources, competencies and core competences to be developed and exploited; to evaluate how effectively value added activities are organised; to identify areas of weaknesses to be addressed by the formulation of future strategies and their successful implementation; to evaluate the performance of products; to evaluate financial performance; to evaluate investment potential if finance is being sought from external sources; to assess the performance and future requirements for human resources; to provide the analytical underpinning for the strengths and weaknesses section of the SWOT. Strategic Management for Tourism Hospitality & Events Internal Analysis Components Internal analysis will usually cover some or all of the following aspects: resource analysis; competence identification and analysis; internal activities analysis;