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Internal and External Factors Affecting the Effective Performance of Holiday Inn

   

Added on  2019-12-03

18 Pages5738 Words239 Views
Business DevelopmentLeadership Management
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Strategic management
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Table of ContentsTASK 1............................................................................................................................................3Environmental and competitive analysis of Holiday Inn............................................................3Application of strategic choice model.........................................................................................8Application of Porter's generic theory.........................................................................................9Application of game theory.......................................................................................................11Application of Blue Ocean Theory............................................................................................11Application of Global strategy...................................................................................................12TASK 3..........................................................................................................................................13TASK 4..........................................................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................17
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INTRODUCTION Strategy dictates the determination of long and short term goals of an organization withthe adoption of different actions and proper allocation of respective resources that are necessaryfor attaining the goals. Strategic management is the formulation and implementation of differentstrategies which are considered in order to take the initiatives to attain goals and make theorganization competent to sustain in the work environment by assessing the internal and externalenvironment. The present report is about Holiday Inn which is the multinational brand in thechain of other hotels. It is the subsidiary of Inter Continental Hotel group. This report criticallyexamines different models, theories and concepts that help to properly analyze the environmentand determine the sustainability of organization in a long run and helps to design the properframework of strategic success of organization in the hospitality industry. This report willdiscuss about various possible strategic trajectories which are chosen in order to expand andgrow in order to meet different opportunities and to attain success. Different aspects are criticallyreviewed in order to discuss the innovation and creativity components of strategic performanceof the organization.TASK 1Environmental and competitive analysis of Holiday InnNow a days, the competition is expanding at a fast pace and there are different aspectswhich help to properly analyze the internal as well external environmental factors that ensure theeffective performance of Holiday Inn(Alkhafaji, 2003). These factors help to properly analyzethe strengths and weaknesses which ensure the effective performance to attain diverse objectivesof Holiday Inn. It is essential to broaden the performance criteria in order to sustain thecompetitive advantage. It is the crucial part which determines overall strategy that should beincluded in order to do thorough assessment of respective factors which determine thesustainability of Holiday Inn. Internal and external environment analysis will determine thecompetitive advantage of Holiday Inn to make the strategic decisions in order to sustain in thelong run. With the proper analysis, various models and theories are adopted to properly developthe strategies to compete in the environment in which it operates.The external factors are determined with the help of different models which have beendiscussed as below:
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The external environment comprises of different aspects which properly evaluate as perseveral perspectives that determine the overall performance of Holiday Inn. There are variousservices which are being offered by them in order to make the stay more effective and efficientin order to meet the competitive advantage within specific time frame in order to sustain in thelong run (Bordum, 2010). This determines the overall functioning of Holiday Inn within workenvironment. With the help of various models, the external environment of Holiday Inn will beeffectively analyzed and discussed below:PESTEL ANALYSIS:There are various factors which affect the different decisions which are related to thestrategies that are framed in order to properly analyze the environment and to become competentenough to meet the changes which need to be implemented in order to sustain in the competitiveand dynamic environment (Makos, 2015). It is critically evaluated and examined:Political factors: These factors help to effectively implement various strategies in orderto expand within the boundaries of nation by providing the best quality and services and variousother facilities in order to make the stay easy. The positive and effective collaboration with thegovernment helps in the expansion of functional criteria of Holiday Inn. With the tremendousgrowth in the demand in the hospitality industry, Holiday Inn designs proper framework in orderto generate more profits.Economic factors: Due to fluctuation in the economy, these factors affect the overallperformance of organization as they ascertain various aspects which will be essential to carry outvarious perspectives in order to grow and expand the service criteria which they are offering tothe guests. This is an encouraging factor which determines the expansion of Holiday Inn. Thebudgets are determined in order to effectively design various plans in order to expand in order togrow. They adopt many discounts and various other schemes to generate more revenues and toattain high profits.Social factors: As the lifestyle and social circles are very standardized, the living costsare increased in order to meet various changes which are occurring in the environment in order tosustain in the long run. Holiday Inn formulates its strategies in an effective manner in order toprovide easy accessibility to customers as per their preferences in order to build up a strongimage in the minds of customers as the main focus of customers is on the quality of serviceswhich they are offering in order to make their stay more comfortable and effective (Makos,
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