Strategic Management for Hospitality and Tourism: 2nd Edition (Paperback) book cover

Strategic Management for Hospitality and Tourism

2nd Edition

By Fevzi Okumus, Levent Altinay, Prakash Chathoth, Mehmet Ali Koseoglu

Routledge

288 pages | 10 Color Illus.

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Paperback: 9780815393474
pub: 2019-10-28
Available for pre-order
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Hardback: 9780815393467
pub: 2019-10-28
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Description

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.

Reviews

‘The pedagogical approach and international context of this edition should be THE strategic management textbook to adopt to facilitate student learning and equip them with the much needed global exposure’.

Cathy Hsu, Chair Professor, Hong Kong Polytechnic University, Hong Kong

‘The leading strategic management text book in our field that can greatly help our hospitality and tourism students, managers and executives. All key and essential theories and concepts are explained nicely along with interesting case studies’.

Marianna Sigala, Professor, University of South Australia

‘This second edition of Strategic Management for Hospitality and Tourism provides the latest in strategic thinking and contemporary theoretical models and management practices. It addresses a range of cutting-edge issues including globalisation, experience economy, crisis management, consumer power, developing service quality, innovation and implementation of principles. A must read for both academics and students around the world.’

John Bowen, Professor, University of Houston, USA

‘This comprehensively revised 2nd edition of the definitive hospitality and tourism strategy text provides students and professors with valuable enhancements that explain complex strategic theories, concepts and applications in plain and clear language. The eminent team of authors enlivens this challenging subject by incorporating relevant and engaging contemporary examples.’

Dimitrios Buhalis, Professor and Head of Department of Tourism and Hospitality, Bournemouth University, UK

‘Strategic Management for Hospitality and Tourism has become the text for those teaching strategic management in hospitality and/or tourism programs. It includes a strong grounding in the principles of strategic management and illustrates how these are applied to hospitality and tourism organizations. The cases included in the text bring the application to life for the students and allow them to practice analytical techniques discussed.’

Brian King, Professor and Associate Dean, Hong Kong Polytechnic University, Hong Kong

Table of Contents

Part 1: Introduction to Strategy

  1. Introduction to Strategic Management
  2. 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

  3. Strategic Management in Hospitality and Tourism
  4. 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 H&T Organizations

    The Case for Strategic Management in H&T Organizations

    Applying Strategic Management in the H&T Context

    Strategy Research in Hospitality and Tourism

    Summary

    Study Questions

  5. Business Ethics and Social Responsibility
  6. 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

  7. The Hospitality and Tourism Industry Context
  8. Introduction

    Characterising 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 the Hospitality/Tourism Firm

    The External Environment in the International Perspective

    Summary

    Study Questions

  9. The Organisational Context
  10. Introduction

    Identifying Different Stakeholders

    Organisational Functions

    The Influence of Organisational Structure

    Influence of Leadership

    Influence of Organisational Culture

    The Organisational Context in the International Perspective

    Summary

    Study Questions

  11. Financial Analysis of a Hospitality and Tourism Organization
  12. Introduction

    Internal analysis

    Financial analysis and financial statements

    The cash-flow statement

    The Balance Sheet

    Interpreting the balance sheet

    The income statement

    Financial ratios

    Summary

    Study questions

    Part 3: Strategy Content

  13. Business-Level Strategies
  14. Introduction

    The Parameters of Competitive Strategy

    What is the Basis of a Good Strategy?

    Positioning and Generic Strategies

    Generic Strategies

    The Industry Life Cycle and Competitive Dynamics

    Resources, Capabilities, and Competencies

    Causal Ambiguity, Inimitability, and Sustainable Competitive Advantage

    Business-Level Strategy in the International Perspective

    Summary

    Study Questions

  15. Corporate-Level Strategies
  16. Introduction

    Corporate Strategy

    The Portfolio Approach

    Corporate Strategy and Adding Value

    The Core Competence Approach

    Creating and Sustaining the Multibusiness Advantage

    Corporate-Level Strategy in the International Perspective

    Summary

    Study Questions

  17. Network-level Strategies
  18. 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

  19. Strategy Formation: Strategy Formulation and Implementation
  20. Introduction

    Strategy Formation—Strategy Formulation and Implementation

    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

  21. Strategy Implementation and Change
  22. 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

  23. Leadership in Hospitality and Tourism
  24. 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

  25. 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

Competitors & Target Market

Looking Forward

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 USA 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

Process and procedure

Interview Findings

Mr. Rosen on entrepreneurship

Mr. Rosen on his hotel business

Mr. Rosen on management philosophy and style

Mr. Rosen on leadership

Mr. Rosen on education

Mr. Rosen on industry oriented skills

Mr. Rosen on philanthropy ("responsible capitalism")

Appendix A: Background of Mr. Harris 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

Case Study 6 Supplement: Mr. Harris Rosen’s Recognitions and Philanthropic Activities from 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

About the Authors

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.

Subject Categories

BISAC Subject Codes/Headings:
BUS081000
BUSINESS & ECONOMICS / Industries / Hospitality, Travel & Tourism