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Strategic Planning for Hospitality Industry- Assignment

   

Added on  2020-12-09

10 Pages3140 Words107 Views
STRATEGIC PLANNING FOR HOSPITALITYINDUSTRY

Table of ContentsINTRODUCTION...........................................................................................................................11. Evaluate the contribution of SMART targets of strategic implementation............................12. Evaluate the alternatives strategies and justify the selection strategy.....................................23. Evaluate the different types of performance metrics and suggest the appropriate metrics.....4Suggest the appropriate metrics..................................................................................................5CONLCUSION ...............................................................................................................................6REFERENCES ...............................................................................................................................7

INTRODUCTIONStrategic planning is the process of defining the strategies for direction and decisionmaking in the organization. It is the management activity which used in operations, focus inresources and assessing the direction towards the organizational goals. Marriott is themultinational hotels in the hospitality industry. They are providing different hotels and lodgingfacilities. Marriott was founded by John Willard Marriott in 1927. In this report, it willevaluating the contribution of SMART targets for implementing the strategic. It will analysingthe alternatives strategies and justify the selection of a strategy. It will evaluating the differenttypes of performances metrics (Al Yousuf, Taylor, and Taylor, 2015). 1. Evaluate the contribution of SMART targets of strategic implementationStrategic planning is the process of defining the strategies for direction of organizationalgoals. After the strategic planning, company has to be decided that how to implement thestrategies in their business. For strategic implementation, company is set the targets and goals.These targets are must be SMART and contribution in the company growth and development.SMART stand for :Specific: The objectives, goals and strategies of the company must be specified. So that itis easy for mangers and employees for implementing of strategies in their company. In thehospitality industry, Marriott is the multinational hotels in the UK. They are also doing theresorts business. So that they are planning the strategies related to the hotels and resortsmanagement. The manager of Marriott is to ensuring that making all the strategies are specifiedand easy to understanding for the employees. The company is to planning and implementing thestrategies for setting up the targets and achieving the goals (Assaf and et.al., 2015). Measurable: The company should be made the measurable objectives, strategies andgoals. It is important for the earning profits and generating revenues and contribute. If theobjectives and goals are measuring, so that it is helping to implementing the strategies andachieving the goals. Marriott is multinational hotels in UK, so that they are implementing andmeasuring strategies for generating the revenues and contributing the economy. The strategiesare measuring is to helping in measuring the profits of the company. Achievable: The strategies and objectives must be achievable for the implementation ofthe company strategies. Planning and making the strategies, it is ensuring the time, money andresources. They are making the strategies for easily understanding and helping in setting targets1

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