Part 1: Introduction to Strategy
1.Introduction to Strategic Management
Introduction
Fundamentals of Strategic Orientation
Historical Origins of Strategy and Strategic Management
Schools of Thought on Strategic Management
Strategic Management and the "Experience Economy"
Overall Aims of Strategic Management: Creating a Competitive Advantage
The Book's Approach and Structure
Summary
Study Questions
1.Strategic Management in Hospitality and Tourism
Introduction
Defining Hospitality and Tourism
Types of Hospitality and Tourism Organizations
Characteristics of Hospitality and Tourism Organizations
The Impact of these Unique Characteristics on Managing Hospitality and Tourism Organizations
The Case for Strategic Management in Hospitality and Tourism Organizations
Applying Strategic Management in the Hospitality and Tourism Context
Strategy Research in Hospitality and Tourism
Summary
Study Questions
1.Business Ethics and Social Responsibility
Introduction
Business Ethics in Strategic Management
Business Ethics and their Impacts on the Hospitality and Tourism Industry
Reasons for Unethical Behavior
Improving Ethical Behaviors and Decision-Making
Social Responsibility
Implementations of CSR
CSR Reporting
Summary
Study Questions
Part 2: Strategy Context
1.The Hospitality and Tourism Industry Context
Introduction
Characterizing the External Environment
Strategic Fit and Strategic Intent
Environment Characteristics
Environment Dimensions
Environment Types
Understanding the Macro Environment
The Sustainable Hospitality and Tourism Business
The Task Environment and Influence of Industry Structure
The Five Forces Model
The Dynamics of Competition and Strategic Groups
Environmental Scanning and the H&T Firm
The External Environment in the International Perspective
Summary
Study Questions
1.The Organizational Context
Introduction
Identifying Different Stakeholders
Organisational Functions
Influence of Organizational Structure
Influence of Organizational Culture
The Organizational Context in the International Perspective
Summary
Study Questions
1.Financial Analysis of a Hospitality and Tourism Organization
Introduction
Internal analysis
Financial analysis and financial statements
Financial ratios
Summary
Study questions
Part 3: Strategy Content
1.Business-Level Strategies
Introduction
The Parameters of Competitive Strategy
What is the Basis of a Good Strategy?
Positioning and Generic Strategies
The Industry Lifecycle and Competitive Dynamics
Resources, Capabilities, and Competencies
Causal Ambiguity, Inimitability, and Sustainable Competitive Advantage
Business-Level Strategy in the International Perspective
Summary
Study Questions
1.Corporate-Level Strategies
Introduction
Corporate Strategy
Corporate Strategy and Adding Value
Creating and Sustaining the Multi-Business Advantage
Corporate-Level Strategy in the International Perspective
Summary
Study Questions
1.Network-level Strategies
Introduction
Strategic Alliances
Franchising
Management Contracts
Joint Ventures
Wholly Owned Subsidiaries
Strategic Alliance Formation in the International Context
Summary
Study Questions
Case Study: International Expansion in Asia Pacific Region
Part 4: The Strategy Process
1.Strategy Formation
Introduction
Strategy Formation
Schools of Thought in the Strategic Management Field
The Planning Approach
The Learning or Emergent Approach
The Contingency Approach
The Configurational Approach
The Complexity Approach
Evaluating the Five Approaches
Strategy Formation in the International Context
Summary
Study Questions
1.Strategy Implementation and Change
Introduction
Previous Implementation Frameworks
Proposing a Strategy Implementation Framework
Barriers and Resistance to Strategy Implementation
Strategy Implementation and Change in the International Context
Summary
Study Questions
1.Leadership in Hospitality and Tourism
Introduction
Defining Manager and Leader
Leadership styles
Leadership development
Leadership in an international context
Success Factors in Global Leadership
Cultural intelligence
Summary
Study questions
Part 5: Synthesis
1.Conclusions: Relating Content, Context, and Process
Introduction
The Challenge of Strategic Management in the H&T Context
The Dynamics of Content, Context, Process, and Outcome
Sustaining Competitiveness
Managing Change and Creating Learning Organizations
Strategic Management in an International Context
Part 6: Case Studies
Case Study 1: Ocean Park Hong Kong
Introduction
Ocean Park Hong Kong Background
Tourism in Hong Kong
Analyzing the General Environment in Hong Kong
Competitors and Target Market
Discussion Questions
Case Study 2: SeaWorld Parks and Entertainment:
From Social Crisis to Reimagined Success
Introduction
About SeaWorld
Challenges faced by SeaWorld
Turnaround Efforts by SeaWorld
Looking Forward
Discussion Questions
Case Study 3: Din Tai Fung Restaurant Chains Recipe for Success:
Challenges and Opportunities Ahead
Introduction
Background
Business Strategy
Challenges in the U.S. and Other Markets
Global Competitors
Looking Forward
Discussion Questions
Case Study 4: Six Flags: A Familiar Brand Takes on a New Generation
Introduction
The Amusement Park Industry
Six Flags
Six Flags Strategic Direction from 2004-2009
Six Flags Strategic Direction after 2010
Discussion questions
Case Study 5: Marriott Acquiring Starwood: Challenges and Opportunities Ahead
Introduction
History of Marriott International
History of Starwood Hotels and Resorts Worldwide, LLC
Acquisition
Post-Acquisition
Corporate Culture
Loyalty Program Consolidation
Security Breach
Looking Forward
Discussion questions
Case Study 6: Mr. Harris Rosens Views on Entrepreneurship, Leadership and Corporate Social Responsibility: Insights and Implications for Hospitality and Tourism Education
Introduction
Harris Rosen on entrepreneurship
Harris Rosen on his hotel business
Harris Rosen on management philosophy and style
Harris Rosen on leadership
Harris Rosen on education
Harris Rosen on industry-oriented skills
Harris Rosen on philanthropy ("responsible capitalism")
Appendix A: Background of Harris Rosen, President and CEO of Rosen Hotels and Resorts
Appendix B: Rosen Hotels and Resorts Portfolio
Appendix C: Rosen Hotels & Resorts Employee Programs
Appendix D: Mr. Rosens Philanthropic Activities
Appendix E: Mr. Rosens Awards and Recognition
Appendix F: Harris Rosens recognitions and philanthropic activities 2009-2019
Case Study 7: What You Can Learn from Service that Makes You Smile
Purpose Attracts Talent
And Talent Needs to be Nurtured, On Purpose
A Shared Purpose
Discussion questions
