Strategic Planning for the Hospitality Industry Power point

This power point presentation by Desklib covers strategic planning for the hospitality industry, with a focus on hotel F1. It includes an analysis of strategic direction, Porter's value chain model, VRIO model, and Ansoff matrix. The presentation also discusses the importance of external analysis and the ICEDRIPS model. The report concludes with a summary of the key takeaways.

Strategic Planning for
the Hospitality
Industry

INTRODUCTION
Strategic planning refer the organization which determine the vision and mission for the
future benefit of the organization. Strategic planning develop a road map for the plan that
organization need to develop for the growth of the organization. This report includes the
information about hotel Formule1 based in France and founded by Accor. They 172 approx
hotel brands across the globe and Formule1 now rebrand as hotelF1. This report includes
the information about the hotel strategic direction and mission. Porter's value chain model,
and VRIO model and ansoff matrix.

Analyse strategic direction
• Strategic management in the organization process all the operation of the industry. The
industry not just include the accommodation and this include the entertainment and
transportation which provided by the organization to their customers. For creating a best
plan industry should include the key elements which include:
• Franchise that a hotel F1 has all over the globe, and they work in a real e- state property
also to expand their business.

Cont<…
• Vision:- in hospitality business, industry main vision is to compete with their competitor
and give their customer a best quality to stay and achieve higher customer satisfaction.
Mainly a vision describe the organization and their purpose. Vision of the organization
plan a strategy then execute it in a better way and then want to achieve success in this.
for example hotel F1 started a real estate investment for the betterment of the company
and expand their business.

Cont<…
• Value and culture:- hospitality organizations value determine the quality, atmosphere of
the organization where the customer come and visit. Value should be tangible or
intangible which describe the ambience in which the interior of the organization and
rooms how they present their organization include. in intangible value this includes the
behaviour and attitude of the staff and employee of the organization from their customer.
To gain the customer trust industry should maintain their quality and their business
standard which a hotel F1 maintain from so many years.

Cont.<…
• Culture indicates the diversification of the organization because it includes so many things
which gets it complex. There are a lot of challenges in the hospitality industry, but company
should face those challenge and establish a good environment with that the organization already
did for the betterment of the organization. For adopting the culture where organizati8ohne
stablish is considered the diversity plan which include the hiring process also because whenever
a organization establish in a specific region they have to adopt their culture for which they have
to hire from that place to get better understanding of that particular place.

Porter’s value chain model
• Porter's value chain includes the competitive advantage of the which indicates the
primary and secondary activity. Value chain of the organization indicates the
development and the organization system which include the equipments that used in the
organization, labour, structure etc., etc (Koc, and Bozdag, 2017).
• Primary activity of value chain activity include;
• Inbound logistics:- inbound logistics include all the things in the organization which is
necessary, like, laundry service, storage space, food, and beverages.

Cont<…
• Outbound logistics:- outbound logistics includes the services of the organization to their
customers and distribution of work include the several outlets that indicates the
marketing and sales. This indicates the event of the organization they are doing for the
betterment of the organization and to attract the customer. The events which is organized
by the company to attract the customer who attend for the conference and in restaurants
include the promotion of the organization and compete with their competitors. Services
also includes attraction to the customer of the organization.

Cont<…
• Secondary activity of the value chain activity include:
• Infrastructure of the hotel:- this includes the structure how the organization build and
with that how will they attract their customer. It also affects the management of the
organization as the hotel F1 build their infrastructure very beautifully with that they
attract their customer more to visit their organization. Their price is also good in respect
to stay (Mallon, 2019).

Cont.<…
• Technology development:- as nowadays the technology is on the peak that's why organization need to
develop a technology in their organization for the better experience of the organization and for giving the
customer a better experience in their organization. Technology saves the time by which they advance in
their work system.
• Procurement:- this includes the facilities of the organization give to the customer they have as the hotel
F1 built and support their customer by giving them all necessary needs and essential things they need in
the hotel for the stay. Their accommodation is depending on the customer preference and budget to stay
(Eling, and Lehmann, 2018).

Analysis of internal environment of the
organization:
VRIO frameworks used by the organization to find their resources and abilities to give the
sustainable competitive advantage to the business.
It is internal analysis tool which aim to find the capabilities of the organization
Valuable: For the formula 1 hotel their human resource, finance resource, capital and all
the resources of the organization are valuable.

Resources Valuable Rare Inimitable Organized
Human resource Yes No Yes Yes
Finance resource Yes No No Yes
Capital resource(equipment
machinery)
Yes Yes No Yes
Physical resource Yes No Yes Yes
Intellectual resources (patents,
copy rights)
Yes Yes No Yes

CONT<…
Inimitable: formula 1 company have resources which they have patent right so no other
organization is able to copy them as they have the legal rights (Luca and de Koning, 2018).
Organized: All the resources of the company are in organize manner therefore they are
able to carry out the operation effectively.

External analysis for the company:
• It is important for the company to do the external analysis as it makes the organization
able to find the opportunity or to outline the threats to their business.
• ICEDRIPS is the model which is used to analyse the external environment of the
company.
• Innovation: It is very important for the company to achieve good revenues.

CONT<…
• Economic: Company need to focus on changing in inflation rate, interest rate in the
market so that they arrange their finance resource accordingly.
• Demographic: In which the factors as gender, age, professional ability of the person is
included, it will help the formula 1 organization to know the behaviour of their customer.
• Regulatory: It is important for the company to follow the sustainable rules, to produce
the product which do not harm the environment.

Ansoff matrix
Ansoff matrix of the hospitality industry mainly include the four strategy that will help in to
expand of the business of the hotel.
Market penetration:- in this strategy the risk is lower, because it considered the existing
market and existing product which company has. In this company try to focus on the
existing product by expand their marketing and sales of the organization by promoti9ng and
advertising via various channels to attract the customers (Cleberg, 2019).

CONT<…
• Market development:- this includes the existing product line or for the hotel industry
existing services or organization expand their business in the new market or the new
country.
• Diversification:- diversification is one of the risky factor in the ansoff matrix this
includes the new product line or services and in new market which indicates the
diversification of the organization this is extremely risky for the organization to develop
something new.

CONCLUSION
• This report summarizes the hospitality industry which hotel F1 their strategic planning
this help the organization to develop and expand their business by applying such
approaches. Which is described above that give the organization help to understand and
advancement in the achieving the organization success. This report concludes the
information that include the analysation of strategic direction and porter's value chain
model for better understanding the organization. After that ansoff matrix and VRIO
model for the betterment of the organization

REFERENCES
Books and Journals
Bryson, J.M., Edwards, L.H. and Van Slyke, D.M., 2018. Getting strategic about strategic
planning research.
Cleberg, C., 2019. Strategic Success: The Ansoff Matrix vs. The Balanced Scorecard.
Dawes, J., 2018. The Ansoff matrix: A legendary tool, but with two logical problems. But
with Two Logical Problems (February 27, 2018).
Eling, M. and Lehmann, M., 2018. The impact of digitalization on the insurance value chain
and the insurability of risks. The Geneva papers on risk and insurance-issues and
practice, 43(3), pp.359-396.