scholarly journals Strategic Management in the Hotel Industry: Proposed Strategic Practices to Recover from COVID- 19 Global Crisis

2020 ◽  
Vol 9 (6) ◽  
pp. 130
Author(s):  
Belias Dimitrios ◽  
Papademetriou Christos ◽  
Rossidis Ioannis ◽  
Labros Vasiliadis
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Management Practices ◽  
Management Strategies ◽  
External Environment ◽  
Hotel Industry ◽  
International Market ◽  
Competitive Environment ◽  
Decision Making Process ◽  
Recovery Management

Hotel companies operate in a highly competitive environment, targeting much clientele from the international market with many specialties. The management in these too demanding conditions is called upon to apply modern strategic management practices by analyzing global developments and supporting the decision-making process by limiting the uncertainty created by the external environment. In this context, it is imperative to analyze the financial and administrative impact of COVID- 19, which strongly threatens tourist traffic and largely overturning current budget estimations. Strategic management can make a decisive contribution to addressing this threat by adopting the established business strategy. This article is based on similar past crises, as they were faced with strategic tools. This work aims to discuss and present the most appropriate recovery management strategies, which can help the hotel industry respond to this unprecedented crisis.

scholarly journals Comparing crisis management practices in the hotel industry between initial and pandemic stages of COVID-19

2020 ◽  
Vol 32 (10) ◽  
pp. 3135-3156 ◽  
Author(s):  
Ivan Ka Wai Lai ◽  
Jose Weng Chou Wong
Keyword(s):  
Performance Analysis ◽  
Human Resources ◽  
Crisis Management ◽  
Management Practices ◽  
Management Strategies ◽  
Hotel Industry ◽  
Content Type ◽  
Initial Stage ◽  
Travel Restrictions ◽  
Hotel Managers

Purpose Given the increasing number of travel restrictions, the COVID-19 outbreak has dealt a crippling blow to the hotel industry, and the crisis management practices supporting the industry needs are changing as the pandemic continues. This study aims to compare how the hotel industry has responded to this crisis at the initial stage and the pandemic stage. Design/methodology/approach Data were collected from hotel managers in Macau in two occasions, namely, early February and early April 2020. Importance-usage-performance analysis was conducted to classify six categories of practices (pricing, marketing, maintenance, human resources, government assistance and epidemic prevention) into four executable crisis management strategies (priority, maintain, low priority and possible overkill) for each stage. Follow-up in-person interviews were conducted to validate the results of the study. Findings In the initial stage, priority strategies should be applied in all epidemic prevention, pricing and maintenance practices and in two governmental assistance and human resources practices. In the pandemic stage, all epidemic prevention practices remain at the priority quadrant, but two pricing practices are downgraded. Hotels tended to force labour into unpaid vacations (furlough) and postpone office and system maintenance. Governmental assistance should be at a low priority. Originality/value This study contributes to the knowledge of contingency planning for crisis management across crisis periods. It also demonstrates the processes of importance-usage-performance analysis for researchers to undertake further studies in tourism crisis management. Timely recommendations for governments and hotel industry stakeholders are provided to cope with this crisis.

COMPETITIVE POTENTIAL FORMATION ON THE BACKGROUND OF STRATEGIC MANAGEMENT OF AGRICULTURAL ENTERPRISES

2019 ◽  
Vol 4 (4) ◽  
pp. 149-160
Author(s):  
Volodymyr PILIAVSKII
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Competitive Strategy ◽  
Production Management ◽  
External Environment ◽  
Industrial Enterprise ◽  
Strategic Analysis ◽  
Successful Implementation ◽  
Agricultural Enterprises ◽  
Industrial Enterprises

The article reveals the issues of system-forming elements of agro-industrial enterprises’ competitive potential and the choice of competitive strategy as a factor of strengthening and increasing its efficiency through strategic management. It is established that along with the use of exclusive qualitative and quantitative characteristics of resources, competitive advantages can also be created due to the properties of the internal and external environment, rare among competitors. Special attention is paid to such an advantage as competence. The external and internal factors of agro-industrial enterprise’s competitive potential, which cover its assortment, marketing, quality, production management and other policies, innovative development, highly qualified staff availability, access to quality raw materials, are defined. The article presents and justifies the block-scheme of the choice of the agro-industrial enterprise competitive strategy of potential development. It distinguishes two components: structural composition of production and positioning. The proposed methodological approach of such analysis and choice of competitive strategy allows the enterprise not only to form, but also to successfully implement a long-term advantage in a changing environment. The competitive strategy as a tool is linked to the successful implementation of strategic management. It is determined that strategic management should be carried out through an appropriate organizational and economic mechanism, aimed at shaping and strengthening the competitiveness of the agro-industrial enterprise. The proposed mechanism includes a strategic analysis of the operating environment. It establishes essential characteristics of the environment, each consisting of dedicated sub processes, as a basis for defining the mission and goals of the enterprise. It is stated that developing a business strategy is considered to be the core of strategic management, and functional strategies must ensure every management level. A special task of evaluation and control of strategy implementation has been developed. It is determined that adjustments to the results of strategic control should be done for both the implemented strategy and the goals of business entities. In general, the implementation of the organizational and economic mechanisms of strategic management determines certain rules and techniques for forming and strengthening the competitive potential of agricultural enterprises. Keywords: competitive potential, competitive strategy, strategic management, strategy choice, business strategy, functional strategies, strategic analysis, external environment, internal environment, agro-industrial enterprises.

Teaching Methods and Syllabus Design in Business Strategy Courses

2021 ◽  
pp. 1190-1206
Author(s):  
Yulia Aray ◽  
Olga Verkhovskaya ◽  
Tatiana Klemina
Keyword(s):  
Empirical Study ◽  
Strategic Management ◽  
Competitive Advantage ◽  
Teaching Methods ◽  
Business Strategy ◽  
Management Education ◽  
Business Schools ◽  
External Environment ◽  
The World ◽  
Syllabus Design

The chapter focuses on a problem that business schools all over the world face and which is connected with the necessity to include concepts and instruments of strategic management valuable for the managers into the syllabi of the courses. It is necessary to define the requirements and expectations of the managers for the syllabus development and methods of studying. The purpose of the study is to determine the existing conformity of strategic management course syllabus and the Russian managers' perceptions of sources of competitive advantage. During the empirical study, a survey of the students of the EMBA program has been conducted. The results of the analysis indicate that managers link the sources of competitive advantage with better position of the company in the external environment that leads to greater interest in learning strategic tools which are appropriate for its detecting. The findings raise serious challenges for strategic management teaching and put into question the usefulness of proactive development of competences in strategic management education.

Comparative analysis of budgeting in the Slovene hotel industry

2011 ◽  
Vol 17 (1) ◽  
pp. 91-100
Author(s):  
Gordana Ivankovič ◽  
Mateja Jerman
Keyword(s):  
Strategic Management ◽  
Business Strategy ◽  
Management Accounting ◽  
Hotel Industry ◽  
Decision Makers ◽  
Business Strategies ◽  
Short Term ◽  
Strategic Management Accounting ◽  
Standard Cost

The main purpose of the presented research was to investigate whether Slovene hotels that have a business strategy and strategic management accounting are more successful in comparison with those that still do not have a long-term business strategy and strategic management accounting.Hotels that have a business strategy and strategic management accounting are expected to be more successful in comparison with those that still do not have a long-term business strategy. Questionnaires were distributed to the management of selected Slovene hotels. The Slovene budgeting practices were assessed in Slovene large hotels, which have more than 100 rooms. The analysis was performed at the beginning of the years 2004 and 2008, respectively. Budgeting practices in Slovene hotels were assessed by analyzing the extent to which managers used strategic management accounting and the extent to which business strategies were implemented. The analysis provides evidence that hotels with a long-term business strategy are more successful than those that that have a short-term strategy, or are even without one. Although an improvement in the field of continuous budgeting in the five-year period can be ascertained, only a minority of Slovene hotels uses standard cost as a basis for budgeting. This was the first study that ascertained discrepancies between Slovenian budgeting practice and foreign best practices, which is undoubtedly of great interest for decision-makers on the level of individual hotel.

Teaching Methods and Syllabus Design in Business Strategy Courses

2019 ◽  
pp. 163-184
Author(s):  
Yulia Aray ◽  
Olga Verkhovskaya ◽  
Tatiana Klemina
Keyword(s):  
Empirical Study ◽  
Strategic Management ◽  
Competitive Advantage ◽  
Teaching Methods ◽  
Business Strategy ◽  
Management Education ◽  
Business Schools ◽  
External Environment ◽  
The World ◽  
Syllabus Design

The chapter focuses on a problem that business schools all over the world face and which is connected with the necessity to include concepts and instruments of strategic management valuable for the managers into the syllabi of the courses. It is necessary to define the requirements and expectations of the managers for the syllabus development and methods of studying. The purpose of the study is to determine the existing conformity of strategic management course syllabus and the Russian managers' perceptions of sources of competitive advantage. During the empirical study, a survey of the students of the EMBA program has been conducted. The results of the analysis indicate that managers link the sources of competitive advantage with better position of the company in the external environment that leads to greater interest in learning strategic tools which are appropriate for its detecting. The findings raise serious challenges for strategic management teaching and put into question the usefulness of proactive development of competences in strategic management education.

scholarly journals Maturity Framework Enabling Organizational Digital Readiness

2020 ◽  
Author(s):  
Carla G. Machado ◽  
Peter Almström ◽  
Anna E. Öberg ◽  
Martin Kurdve ◽  
Sultan Y. Almashalah
Keyword(s):  
Stages Of Change ◽  
Business Strategy ◽  
Management Practices ◽  
New Technologies ◽  
Organizational Readiness ◽  
Competitive Environment ◽  
Efficient Production ◽  
Production Processes ◽  
Technology Level ◽  
A Company

Digitalization and the use of advanced technologies for more flexible and resource efficient production processes are changing the industrial competitive environment. However, new technologies are not seldom implemented without the whole organization being ready to fully utilize its benefits. This readiness can be expressed as organizational digital maturity. Previous studies identified that the level of digitalization is increasing, but, in many cases, due to lack of foundation, it is not aligned with the business strategy and/or supported by the organizational and technological infrastructures. There is a gap in existing models to provide practical starting-up steps to support the organizational digital readiness. A conceptual readiness framework for organizational digital readiness was tested through the analysis and reflection of four cases implemented by a Swedish manufacturing company. Findings point out that it is important to create a proper organizational foundation, a readiness, to ensure a company to evolve in digital maturity. That can be developed based on three main stages of change management practices. The tool can be used to identify the organizational readiness and thereby the gaps and thresholds necessary to overcome. This will enable companies to utilize the technology level necessary to increase cost and resource efficiency, and hence competitiveness. In addition, dimensions and a roadmap for organizational, digital, and smart readiness is presented.

Pengembangan Butik Muslim yang Terkait dengan Pelayanan Prima dan Kualitas Produk pada Butik Firta Collection

Liquidity ◽  
2018 ◽  
Vol 7 (2) ◽  
pp. 97-107
Author(s):  
Esust Setiawati
Keyword(s):  
Strategic Management ◽  
Product Quality ◽  
Qualitative Method ◽  
Swot Analysis ◽  
External Environment ◽  
Marketing Mix ◽  
External Factors ◽  
Customer Trust

This study aims to analyze how strategic management in the Firta Collection Boutique to develop its business, especially in providing services to customers. The method used in this research is a qualitative method that includes Marketing Mix (4P Analysis) and SWOT Analysis, to find out what external factors are opportunities or threats to the Firta Collection Boutique. The results of the study show that the strategies adopted by the Firta Collection Boutique are still inappropriate and need to use other strategies. Changes in the external environment have continued to increase so that it is an opportunity and anticipates threats by utilizing strengths and minimizing weaknesses by innovating and improving approaches and gaining customer trust in product quality, in order to compete in the fashion sector.

BİLGİ YÖNETİMİ UYGULAMALARI KAPSAMINDA İNSAN KAYNAKLARI YÖNETİMİNDE MEYDANA GELEN DEĞİŞİMLER

2013 ◽  
Vol 1 (1) ◽  
pp. 83
Author(s):  
Ozan Büyükyılmaz
Keyword(s):  
Knowledge Management ◽  
Human Resources ◽  
Performance Management ◽  
Management Practices ◽  
Human Resources Management ◽  
Management Strategies ◽  
Resources Management ◽  
Management Philosophy ◽  
Management Processes

The development and expansion of knowledge management as an important management philosophy has a significant impact on human resources management as well as on organization as a whole. In this context, knowledge management processes have been used as a strategic tool within human resources management.Therefore, functions of human resources management must adapt itself to this change. The purpose of this study is to determine the role of human resources management in the management of knowledge and to reveal the effects of knowledge management practices on the functions of human resources byexamining the relationship between human resources and knowledge management. In this context, a theoretical investigation was conducted. It has been determined that significant changes occurred on the functions of human resources management such as selection and recruitment, performance management, remuneration and reward, training and development within the framework of the knowledge management strategies.

A Sustainable Approach for Organisational using Strategic Management

2020 ◽  
Vol 11 (2) ◽  
Author(s):  
Abdulla Almazrouei ◽  
◽  
Azlina Md Yassin ◽  
Keyword(s):  
Mortality Rate ◽  
Strategic Planning ◽  
Strategic Management ◽  
Crime Rate ◽  
External Environment ◽  
Police Department ◽  
Public Institutions ◽  
Abu Dhabi ◽  
The Public ◽  
The World

Strategic management have gained popularity in the public institutions to foster good delivery service to the public. The strategic planning enables organizations to establish a strategic match between the internal competency, resources and external environment. Majority of the successful organizations across the world use strategic management and planning as a tool that enables to optimize the operations and achieve maximum productivity with the resources. This paper reviewed on strategic management for organisations in Abu Dhabi especially for Abu Dhabi Police (ADP) force. It presents three strategic management theories which can be adopted by an organisation. This would help the organisation such as police department to reduce the increasing crime rate and mortality rate in UAE.

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