Strategic Management for Hospitality and Tourism

Strategic Management for Hospitality and Tourism is an essential text for both intermediate and advanced learners aspiring to build their knowledge related to the theories and perspectives on the topic. The book provides critical and analytical insights on contemporary theoretical models and management practices while enhancing the learning process through worked examples and cases applied to the hospitality and tourism setting. This new edition highlights the rapidly changing socio-economic and political global landscape and addresses the cultural and socio-economic complexities of hospitality and tourism organizations in the new era. It has been fully updated to include: A new chapter on finance, business ethics, corporate social responsibility, and leadership as well as new content on globalisation, experience economy, crisis management, consumer power, developing service quality, innovation and implementation of principles. New features to aid understanding of the application of theory, and spur critical thinking and decision making. New international case studies with reflective questions throughout the book from both SME’s and large-scale businesses. Updated online resources including PowerPoint presentations, additional case studies and exercises, and web links to aid both teaching and learning. Highly illustrated and in full colour design, this book is essential reading for all future hospitality and tourism managers.

Part 1: Introduction to Strategy 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 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 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 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 theH&T Firm The External Environment in the International Perspective Summary Study Questions 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 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 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 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 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 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 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 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 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 Competitorsand 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 Chain’s 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 Rosen’s 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 Rosenon 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 ofHarris 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. Rosen’s Philanthropic Activities Appendix E: Mr. Rosen’s Awards and Recognition Appendix F: Harris Rosen’s 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

Fevzi Okumus is the CFHLA Preeminent Chair Professor within the Hospitality Services Department at the University of Central Florida’s Rosen College of Hospitality Management. Levent Altinay is Professor of Strategy and Entrepreneurship at Oxford Brookes Business School and the Editor-in-Chief of the Service Industries Journal. Prakash Chathoth is a Professor at the Department of Marketing and Information Systems, School of Business Administration, American University of Sharjah, United Arab Emirates. Mehmet Ali Koseoglu is an Assistant Professor of Hospitality Management at the Hong Kong Polytechnic University.