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business
strategic management 5th
Hospitality Strategic Management Concepts And Cases 2nd Edition Cathy A Enz, Jeffrey S Harrison - Solutions
Discuss the distinguishing characteristics of each of the corporate-level structures presented in this chapter.
How are the multidivisional and SBU structures the same? How are they different?When would one structure be more appropriate than the other?
What is the primary purpose of the lateral mechanisms of an organization? When would the different types of lateral mechanisms (e.g., direct contact, teams, task forces, full-time integrator) be more appropriate?
What is a strategic-control system? Give examples.
Describe the problems associated with traditional accounting-based fi nancial controls. Are they ever appropriate? In what circumstances?
What is feedback control? Describe the steps associated with developing a feedback-control system.
What is feedforward control? How does it differ from feedback control?
What is a business intelligence system? For instance, where does business intelligence come from, and how is it used?
What are the characteristics of crisis-prone organizations? Name 10 things companies can do to control organizational crises.
One of the most important activities associated with strategy implementation is designing a strategy-supportive organization. Contact a hospitality organization and request a copy of its organization chart. Keep in mind that not all organizations are comfortable providing this document, and you may
Research the existence of a chief knowledge offi cer (CKO) or chief learning offi cer (CLO) in hospitality fi rms. Do these positions exist in the industry? Are these organizational positions common or rare based on your research? Explain your fi ndings and what it might suggest about the
This exercise gives you an opportunity to design structures for a new resort.Design: You are establishing a new luxury resort business on a small Caribbean island.Construction of the 200-room resort is under way, and it is scheduled to open a year from now. You decide it is time to draw up an
Know the entrepreneurial tasks that bring a new venture into existence.
Explain the key components of a business plan and the importance of having an end - game strategy.
List the most common sources of start - up capital.
Identify the major tasks of entrepreneurs during the fi rst year of a new venture.
Cite the major reasons why new ventures fail.
Defi ne innovation and distinguish among the various types of innovation possible within businesses.
What is entrepreneurship, and why is it important?
What are some of the characteristics of entrepreneurs? Are you that sort of person?Do you know anyone who would be a good entrepreneur?
Describe the entrepreneurial tasks.
What does a business plan contain? Is a business plan the same as a strategic plan for an existing business? If not, how are they different?
What is the difference between business - format franchising and traditional franchising?
Is franchising more or less risky than starting one ’ s own business?
What are the primary reasons why new business ventures fail?
What are some of the typical activities of an entrepreneur during the fi rst year of a venture?
Describe the sources to which an entrepreneur can turn for venture capital.
How can established fi rms foster innovation?
What are the different business models available to tourism organizations for leveraging the Web? How well do you think the industry is doing at balancing the integration and coordination of databases and Web interface?
Find a local entrepreneur and interview him or her. Discuss with your classmates what you learned from your interview. Following are some suggested questions:• Could you tell me about your early career experiences as an entrepreneur?• What were some of your greatest professional successes and
You have decided to start your own small hospitality business. Begin by briefl y describing the venture and why it is likely to be successful. Before you begin the process of devising a business plan, use the simple economic model shown in Figure 9.1to determine the profi tability of your business.
Identify an example of a recent hospitality innovation. What type of innovation is it?What are the characteristics of this innovation? Are innovations in services different from product - based innovations in manufacturing? How? Give examples.
Identify the most popular reasons why companies make foreign investments.
Explain multidomestic, global, and transnational strategies for global expansion.
Describe the most common expansion tactics used when hospitality fi rms pursue global opportunities.
List the most important criteria when picking an option for international growth.
List the most important questions to ask about a potential foreign market.
Understand why some nations produce stellar companies in a particular industry.
Defi ne cultural intelligence.
Why were hospitality fi rms some of the fi rst to internationalize?
What are some of the outcomes from increasing global interdependence among companies? Why might a fi rm want to pursue internationalization?
How does the structure of an economy shape international development?
How can an organization create more of a global mind - set?
What is the role of a development director? Why do so many hotel companies rely on these individuals when expanding into new markets?
Why do organizations enter diffi cult environments? How should a fi rm enter new markets?
Explain the conditions that can lead a nation to produce a disproportionate amount of global leaders in particular industries.
Describe the various roles played by foreign - owned subsidiaries. What determines which role they will play?
Why is a business - format franchise a popular approach to internationalizing in the hospitality industry?
What is the difference between a global and a multidomestic product/market strategy, and what are the advantages and disadvantages of each? Is there a strategy between these extremes?
What are the major expansion tactics, and what are the factors that determine which one is the preferred approach?
What should a company consider before entering a foreign market?
What do you predict will be key innovations in the hospitality industry of the future?
What leadership skills will be necessary to successfully manage global fi rms in the 21st century?
Write a two -to three - page memo to Starbuck ’ s CEO Howard Schultz with actionable recommendations for how to effectively grow international markets.
How might the worldwide need for trained employees in hospitality be fi lled?Explore the number of hotel schools and programs in various regions of the world and report on the different approaches to development provided by governments, corporate players, and educational (nonprofi t) organizations.
Three companies are planning a joint venture to build a new hotel and retail shopping complex. 85 The hotel company will develop and manage the property, the construction company will build it, and the bank will arrange the fi nancing. The companies come from three different fi ctional cultures:
Describe the three basic corporate - level strategies.
What are the strengths and weaknesses of a concentration strategy? What are the strengths and weaknesses of a vertical integration strategy?
How is a vertical integration strategy like a concentration strategy? How is it like an unrelated diversifi cation strategy?
What is the difference between forward and backward integration? Which is likely to be more profi table for hospitality fi rms? Why?
Why is an unrelated diversifi cation strategy generally not a good idea?
What is required for a related diversifi cation strategy to produce synergy? Please explain.
What are 10 common reasons for mergers and acquisitions? What are some of the major reasons that mergers and acquisitions often produce unsatisfactory results?
Which of the major restructuring techniques is most likely to provide rapid results?Defend your answer.
Is downsizing or downscoping typically a more appropriate restructuring technique? Why? Also, what are some of the ill effects from layoffs? How can an organization avoid layoffs and still reduce labor costs?
Why do you think Chapter 11 doesn ’ t work out for most fi rms?
What are some of the key factors that lead to success in restructuring, regardless of the technique used to restructure?
Pick 10 hospitality fi rms and then investigate which corporate strategy they are currently pursuing: concentration, vertical integration, or diversifi cation. A good source for company information is Hoover ’ s, Inc., a business research company that provides information on companies and
Select a recent industry merger or acquisition. Is this a successful or unsuccessful merger or acquisition? Why? List some of the factors that you believe have led to the success or failure of the merger or acquisition you selected.
Identify the advantages and disadvantages of interorganizational relationships.
Understand how fi rms in a tourism cluster work together.
Explain what factors affect the strategic importance of various stakeholders.
Know the guidelines for deciding which stakeholders are most attractive for the formation of partnerships.
List effective partnering and inclusion strategies for key stakeholder groups.
Returning to Chapter 2(Table 2.4 ), review the defi nitions of the following interorganizational relationships: joint ventures, networks, consortia, alliances, trade groups, and interlocking directorates.
What is a tourism cluster? Provide examples of fi rms in the three sectors of a cluster for a specifi c tourism destination.
What are the major advantages of interorganizational relationships?
Do interorganizational relationships have any disadvantages? If so, what are they?
What primary factors make some stakeholders more important than others? How should high - priority stakeholders be managed?
How do management techniques for high - priority stakeholders differ from those of low - priority stakeholders? Give examples.
What can organizations do to ensure that their partnerships are effective?
Why does the hotel industry have so many partnerships among competitors? Is this true for other industries? Which ones?
What methods can organizational leaders use to effectively manage relationships with local communities, activists, the media, unions, and fi nancial intermediaries?
What is a functional - level resource - management strategy? Give an example of how a functional - level resource - management strategy can be used to carry out one of the generic business - level strategies, such as low - cost leadership.
What characteristics should well - developed, functional - level resource - management strategies have?
Select a destination and create a tourism cluster that identifi es key players in three types of organizational sectors, including (1) the direct providers of travel services, (2) support services or suppliers to the industry, and (3) tourism development organizations, agencies, and institutions
Joint ventures are a popular form of partnership in the hospitality industry. Conduct library research on recent joint ventures among hospitality fi rms. What were the primary reasons for these joint ventures? Were they successful? Why or why not?
In your opinion, are unions like UNITE HERE good or bad for the industry?Develop a pro - union argument and an anti - union argument. In small groups, debate the question.
Partnering doesn ’ t just happen. For partnerships to fl ourish with mutual benefi t, a lot of hard work is necessary. Search for examples of mutually benefi cial and troubled partnerships by reading trade publications and searching news sources. See if you can fi nd examples from various
Describe the key elements in the strategic management process.
Discuss the three different perspectives or approaches used in understanding strategy, including the traditional perspective, the resource - based view, and the stakeholder view.
Understand strategy formulation at the corporate, business, and functional levels.
Explain the difference between strategic thinking and strategic planning.
Characterize and explain the key players in the lodging and foodservice industries.
Explain each of the component activities in the defi nition of the strategic management process. Which of these activities do you think is most important to the success of an organization? Why?
Summarize the traditional, resource - based, and stakeholder perspectives of strategic management.
What are some of the considerations motivating companies to go global?
What is the difference between the strategic planning process and strategic thinking?
Which of these is essential to effective strategic management?
What are the important characteristics associated with strategic thinking? How can an organization encourage this sort of thinking?
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