2nd Edition
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
- Strategic Management in Hospitality and Tourism
- Business Ethics and Social Responsibility
- The Hospitality and Tourism Industry Context
- The Organizational Context
- Financial Analysis of a Hospitality and Tourism Organization
- Business-Level Strategies
- Corporate-Level Strategies
- Network-level Strategies
- Strategy Formation
- Strategy Implementation and Change
- Leadership in Hospitality and Tourism
- Conclusions: Relating Content, Context, and Process
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
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
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
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 the H&T Firm
The External Environment in the International Perspective
Summary
Study Questions
Introduction
Identifying Different Stakeholders
Organisational Functions
Influence of Organizational Structure
Influence of Organizational Culture
The Organizational Context in the International Perspective
Summary
Study Questions
Introduction
Internal analysis
Financial analysis and financial statements
Financial ratios
Summary
Study questions
Part 3: Strategy Content
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
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
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
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
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
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
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 and 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 Rosen on 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 of 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
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
Biography
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.
‘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
