Just as the hospitality industry has evolved from individually owned and developed enterprises to public global corporations, management strategies have also Changed. While we still see the entrepreneur launching new brands and service concepts, success is being measured by revenue per available customer and earnings per share. The industry and management strategies remain dynamic. Macro trends such as labor availability, new technologies, economic ups and downs, terrorism, security, and globalization—to name a few—are having and will continue to have substantial impact on management strategies.
This book provides a perspective on how and why management strategies are changing. It examines the external and internal driving forces behind the changes. Focal points include strategy selection, positioning, and business development techniques and options. Further, major managerial strategy areas are viewed through select case examples that exemplify the strategy application. The book also provides insight into the strategic planning process and emerging organizational and operating concepts.
The text discusses managerial strategies and concepts in six parts, beginning with Part 1, Understanding Strategy, Forces, Selection, and Positioning. Part 2 delineates the Growth Strategies of Development, Financial Options, and Brand Strategy. Part 3 focuses on the Offensive (Revenue Development) Strategies of Marketing, Sales, and Customer Retention. Part 4 provides a look at the Functional Managerial Strategies of Human Resources, Technology, and Purchasing. Part 5 presents the Defensive (Business Preservation) Strategies of Risk Management, Crisis Management, and Communications. Finally, Part 6 focuses on the Implementation of Strategic Planning, Organizational and Operational Concepts, and Leadership.
This book provides a global perspective of the hospitality industry. It focuses on disciplines and concepts that impact and have applicability to all sectors of the industry. Through the many examples, cases, and illustrations, key managerial strategies are delineated for brands, customer service, communications, crisis management, ethics, finance, human resources, leadership, marketing, purchasing, operations, risk management, security, organizational concepts, sales, and technology. Each of these disciplines and concepts is viewed with industry sector examples. Sectors include: attractions, clubs, food service, gaming, lodging, meetings and conventions, and almost all travel and tourism-related segments.
Each chapter begins with a set of objectives for the chapter and concludes with a summation and list of key terms and concepts. Also, discussion questions and case examples are presented. Throughout the text you will see boxes highlighting ethics and technology. Virtually every management function and activity will continue to undergo change as a result of technology. Likewise, irrespective of the discipline, managerial strategies and actions are subject to ethical considerations. The highlights point out applications, considerations, developments, and potential future directions related to each chapter topic. Finally, a comprehensive glossary provides clear definitions of the many acronyms and industry-related terms.
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