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supervisory management
Strategic Management For Tourism, Hospitality And Events 4th Edition Nigel Evans - Solutions
=+z Explain the four quadrants of the Ansoff matrix in relation to the risks incurred.
=+z Explain what is meant by forward and backward vertical diversification.
=+you are familiar with from THE.
=+z Distinguish between market development and product development, citing examples
=+z Has a need to even out the cyclical effects in a given secto
=+z Wants to spread risks
=+z Wants to derive the benefits of economies of scope (see Key Concept in Chapter 8)
=+z Wishes to make greater use of any existing distribution systems in place, thus diluting fixed costs and increasing returns
=+z Wishes to broaden its portfolio of business interests across more than one product/market segment
=+z Has underutilized resources and competences
=+z Has current products and markets that no longer provide an acceptable financial return
=+2. Explain the reasons why a company such as Club Med would discard its ‘non-core’ activities.
=+1. Explain the product development that Club Med has undertaken and the reasons why it had to adopt this option.
=+2. Explain the core competence that GL Events is able to leverage across multiple markets.
=+1. Explain the market development that GL Events has undertaken in recent years.
=+Europe as a result of developing multiple properties in the region.
=+2. Explain the economies of scale and scope that IHG may be able to realize in Eastern
=+1. Explain why companies such as IHG may take a cautious approach in developing in new countries.
=+2. Consider why Whitbread is choosing only to invest cautiously in foreign markets for its Premier Inn brand at present.
=+1. Explain the rationale of expanding through market penetration for Whitbread plc’s Premier Inn brand.
=+2. Explain what the underlying purpose of applying models (such as the Ansoff matrix) to cases like this is when considering future strategy.
=+1. Explain the concept of the Ansoff matrix and how it relates to this case.
=+z Provide illustrative examples from THE organizations of strategic directions
=+z Understand that organizations may need to ensure balance in their portfolio of SBUs because resources are finite
=+z Explain the risks associated with particular decisions on strategic direction
=+z Understand and apply the Ansoff product–market model to relevant THE contexts
=+z Identify the strategic directions available to organizations
=+z Understand various THE contexts in which strategic directions have to be considered
=+z explain the main features of the dynamic capabilities framework.
=+z explain the vrio concept and how it works.
=+likely, citing examples from THE you are familiar with.
=+z explain the factors that might make the sustainability of competitive advantage more
=+z outline the criticisms that have been made of porter’s generic strategy.
=+z explain what is meant by a hybrid strategy, and consider the circumstances in which it might it be pursued.
=+z explain porter’s generic strategy framework and consider its strengths and weaknesses as an analytical framework.
=+z explain what is meant by the term ‘competitive advantage’.
=+2. Consider other examples of a hybrid strategy from your knowledge of THE organizations and consider whether such a position is sustainable.
=+1. explain why singapore airlines might be considered to be pursuing a hybrid competitive strategy in this case.
=+2. Consider the factors that could threaten the continued development of the chain in using such a differentiation strategy.
=+1. explain the main elements of W hotels’ differentiation strategy.
=+2. in what other ways might similar festivals choose to differentiate themselves from competitors?
=+1. explain the main ways in which the edinburgh Festivals differentiates itself from competitors through the use of technology.
=+2. explain the factors that led to the rise of low-cost airlines and consider the competitive threats such airlines might face in their future development.
=+1. explain the main features of the cost leadership model exemplified in this case.
=+2. Consider other examples from THE where experience curve effects may aid an organization in competing successfully.
=+1. explain how experience curve effects might work to the benefit of Merlin.
=+2. Consider the main competitive threats faced by an intermediary such as expedia.
=+1. explain the reasons why expedia has been able to grow into a market leading position.
=+z Should the scope of the strategy be broad or narrow?
=+z Should the strategy be one of differentiation or cost leadership?
=+that is not included in table 10.1 but that you think is of importance to future development.
=+z provide an example of a frame condition relevant to a sector of THE you are familiar with
=+z explain why it is necessary for THE managers to have a good understanding of the most relevant frame conditions.
=+z explain the meaning of frame conditions.
=+z Provide illustrative examples from THE organizations of competitive strategy
=+z Understand how the concepts and models discussed can be applied to THE contexts
=+z Explain the role of the value chain in linking core competences and generic strategies
=+z Explain the role of core competences and distinctive capabilities in building competitive advantage
=+z Explain the concept of hybrid strategy
=+z Describe and evaluate the strategy clock and Poon’s tourism competitive strategy concepts
=+z Describe and evaluate Porter’s generic strategy framework
=+z Explain the concept of competitive advantage
=+z Understand various THE contexts in which competitive strategy has to be considered
=+z How will the development be achieved; that is, which methods will be adopted?
=+z Which direction for development will be taken will be taken?
=+z What is the basis on which competition will take place?
=+z What methods can be used to achieve competitive advantage and to develop products and services?
=+z Which products or services should be developed and in which markets should they be sold?
=+z How can advantage over competitors be achieved?
=+z What is happening in the industry and markets you are involved with?
=+z What is happening in the economy?
=+z What are your competitors doing that you are not?
=+z What are the strengths of your biggest competitors?
=+z What is the balance of power between your organization and suppliers and customers?
=+z Threats – concerned with the external threats that may hinder you in achieving your objectives.
=+z Are there related products and services that provide an opportunity for your business?
=+z Are there new target audiences you have the potential to reach?
=+z How can you use technology to enhance your business?
=+z In what ways could you do more for your existing customers or clients?
=+z What costs you time and/or money?
=+z Where do you need further education, training and/or experience?
=+z What parts of your business are not very profitable?
=+z What resources do you lack?
=+z In what areas do you need to improve?
=+z What are your most profitable areas of business?
=+z What do you do better than your competitors?
=+z What experience do you have?
=+z What expert or specialized knowledge do you possess?
=+z What are your unique skills and competences?
=+z What do you do well?
=+z Compare and contrast examples of how sWot has been applied in relevant THE contexts.
=+z Describe some of the common errors that are made when presenting a sWot.
=+z Describe the major rules that should be followed when presenting a sWot.
=+z explain the underlying logic that supports sWot analysis.
=+2. From a managerial perspective, what is the fundamental difference between strengths and weaknesses, on the one hand, and opportunities and threats, on the other?
=+1. explain the underlying logic behind presenting a SWOT in this case.
=+z Understand the relationship between the SWOT analysis and strategic formulation
=+z Apply the SWOT analysis principles appropriately in THE settings
=+z Consider the way in which relevant points can be presented in a SWOT
=+z Describe how a SWOT should be constructed
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