HA 365 Hospitality Marketing Management
To: Professor Allen Z. Reich, PH. D.
From: Matthew McGinnis
Due Date: June 27, 2016
Subject: Chapter 4 Discussion Questions
Chapter 4
1. A strategic plan is the procedure That can either address a business as a whole or just parts of the business. Marketing strategies are originated from strategic plans. Marketing plans and sales plans are vital to create to successful business. Restructuring is when a company is reorganizing the overall structure of the company from structural, legal, and operational
2. The first organization is to make profit is just in it for the cash, in this manner on the grounds that their center is cash and not clients their benefits after some time will probably decrease making the organization fall flat. The second organization is product oriented and therefore creates customers. Since their attention is on making clients, clearly the client retention will be higher and when you have a hige client retention rate you will be profitable. The third organization is to fight world hunger, this lets me know this organization is undoubtedly a non profit organization but they are market oriented. This company will have very small
…show more content…
In next 10 years two types of vertical integration will turn out to be more regular; the first is Large resort organizations will begin owning their own companies such as cruise ships or airlines. The second being Travel organizations assuming control in administration and possessions which would excel booking at just their lodgings. This implies for the buyer that the hotel business is moving far from an administration industry and more toward a benefit based industry. In travel organizations, the vertical integration would be a forward integration. This is because the business would start at the travel agency and end at the actual stay in the hotel. In light of the fact that the vertical integration is about expanding benefit through various stages in the
Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers.
Strategic planning is the management activity of an organization to achieve the organization’s goals through setting priorities, focusing activities and resources, working of employees and stakeholders, agreement establishment, and evaluation of the organization’s direction (Balanced Scorecard Institute, 2015).
Managing a strategic plan is about setting the underpinning aims of an organization, choosing the most appropriate goals and fulfilling them overtime (Masood et al., 1995). Furthermore, managing a strategic plan can be defined as the art of formulating, implementing and evaluating cross-functional decisions that helps as organization to achieve their objectives (Analoui & Karami, 2003, p. 5).
Strategic planning can dictate the success of any organization if properly planned as well as the failure of an organization if not implemented as planned. Strategic planning is all about making choices. It is a process designed to support leaders in being intentional about their goals and methods. Simply stated, strategic planning is a management tool, and like any management tool, it is used for one purpose only—to help an organization do a better job. This portion of the strategic plan will explain why an
A strategic plan is a tool that delivers guidance in achieving a mission or goal with maximum proficiency and control for an organization. Strategic planning is used to transform and revitalize organizations. The plan helps provide an inclusive understanding of opportunities and challenges both internally and externally for the organization. The plan delivers an assessment of the strengths and limitations that are realistic within the company. A well-developed strategic plan will offer a comprehensive approach and empowerment for the stakeholders involved. It is an opportunity for learning and understanding priorities that will drive the business to succeed. Jones (2010), describes how in health care organizations, strategic plans
Strategic planning involves taking information from the environment and deciding upon an organizational mission, and upon objectives, strategies, and a strategic architecture. There are many different ways to go about deciding on your mission. Michael Porter, a researcher from Harvard, had a few ways for developing frameworks for developing an organization’s strategy.
A strategic marketing plan focuses on the goals, objectives, strategies and strategies related to the goals. Goals are comprehensive and it provides the general guidelines on how the marketing organization wants to achieve, such as an expanded market segment (Kotler et al, 2013). Objectives are tied up together with target goals and provide further specific, determinate results - for example, an increase in the market share of a specific geographical area for a particular product, with a certain amount
Strategic planning is the process of gathering information from stakeholders, market players, professional entity, and government agency. The purpose of gathering information is formulating a realistic and a workable framework that any organization can implement and work with. Evaluation of information is a key aspect in determine the kind of plans that the organization wish to a chive over certain a period. Strategic planning ensures the implementation is, crafted well, and parties involved be acquitted with it. Developing a good Strategic plan helps a company to implement its missions and visions effectively, and helps the company to evaluate
Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities as well as emerging market conditions and opportunities. This process begins with a clear company mission statement. However, this is only a small piece of a dynamic and perpetual process. Other activities involved with strategic planning also include setting supporting organizational objectives, designing a sound product mix as well as coordinating functional strategies. Strategic planning works to set the groundwork for the rest of the subsidiary planning functions in the company.
Strategic Planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities.
According to Kourdi (2009) ‘Business strategy is the set of activities where business combines mission, vision and goals of business and goes forward to achieve them’. Every business combines strategic plan and activities to achieve their goals. In other aspect it can be said business strategy is the subject by which an organisation make their roadmap
Strategic planning is an organizational management activity that is used to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals,
What is integration? Integration means combining of same organisation. It 's a two-for one deal at many hotels around the country. And it 's not about the free night stay. Major hotel chains to build two hotels on the property, some in the same building, that target very different customers. The so-called dual-branded hotel is the newest hotel development is to save money during the economic fragility. "It allows the owner not only
‘Strategy’ means a plan of action that is mainly design to achieve the future goal or objective. And in the other hand ‘marketing’ means a business of promoting good or services and selling that with market research and advertisement. So strategic marketing is an explanation of the objective that we need to achieve in future with the help of marketing.
Strategic planning involves making decisions about the organization’s long-term goals and strategies and how the organization decides to implement their goals (Bateman, Snell, Konopaske, pg. 113). Strategies help organizations to have a clear perspective on how to go about accomplishing the goals they have in place. All organizations have a clear vision of what their mission and purpose as a company is, they know how to fulfill the mission, vision, and purpose and they know how to ensure that they accomplish all their goals. However, the route the organization takes to define these things determines how effective they will be.