Strategic Planning for the Hospitality Industry

Strategic Planning for the
Hospitality Industry

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
LO 4.................................................................................................................................................3
1: Successful implementation of strategies..................................................................................3
LO 5.................................................................................................................................................5
2: Performance metrics and its influence on effectiveness of business strategies.......................5
3: Key elements in managing strategic change and leading types of strategic change..............10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
Strategic planning is defined as the proper sequencing of the steps which are undertaken
by the businesses to achieve their target. This includes various steps like company's vision,
objective, purpose which should be achieved through systematic approaches which are collecting
the relevant data, analysis of the information, according to that prepare a strategy, then
implement it and at last evaluate the result and if necessary apply the control measures.
Hospitality industry is evolving faster as the global tourism is increasing day by day sop they
have to take the necessary steps to enhance their profits. This industry is working to provide
services and facilities to their consumers, so to be stable in the market they need to change their
strategies of marketing. InterContinental hotel groups established in 2003 in Denham,
Buckinghamshire, England UK. It has about 5000 hotels in 100 countries. It is five star hotel
ranges and contains all the lavish facilities for their customers. They change their strategies
which help them to generate big amount of revenue. In this report discusses on the strategic
planning which is appropriate for the hotel industry. Also, evaluation of the strategies which are
most effective.
LO 4
1: Successful implementation of strategies.
In service industry like hospitality and travel sector, it is necessary to change the business
strategies according to the trend change in the outer world. As they adopt changes in their
working environment it affects their growth (Varma and Chavan, 2015.). People like to explore
new things and new places. In hotels and tourism industry many people are attracted towards
them due to their products and services along with range of facilities they provide to their
consumers.
Organisations which changes their strategies and plan new strategic approaches like cost
differentiation, leaderships, focus etc., or other strategies which leads to growth in business. But
these are affected by some factors which are leadership, structural design, information and
control systems and human resources (Gladysz,2015).
Factors which influences the implementation of strategy
Leadership

It is most important factor that affect the businesses in many senses. Leaders play a major
role to motivate the employees at workplace and maintain dedication in workers to achieve a
common objective. With the help and support the businesses can work smoothly, as the
employees listen to their leader (Ene and Ionescu, 2017). Leadership styles are very much
important because the employees should feel comfortable and should be agree on the points of
the leader. Also, leader has to consider the views and perspectives of the workers. In terms of the
demand of employees, it should raise its voice and talk to upper management in favour of the
labours. So leader can influence the employees to work because he is able to make understand
the employees about new strategy, its working and consequences ion the business, if he will not
support the management then work and new strategy will be failed.
Structural Design
The organisational culture and structure are major for the company, which helps in the
business to regulate its activities. Like the organisational culture Clan culture is appropriate to
adopt at workplace in which all the employee works with mutual understanding and cooperation.
Business structure is about the decision-making is up to certain people like only top-level and
middle level managers are well-known with the change, if the change adopted and it affects the
whole organisation then only it is informed to all the employees of the company (Siswosuharjo
and Listiyoko, 2019). So if employees are not happy in the culture and structure of business then
new strategy implementation will be failed.
Information and control system
Business needs relevant information and system data analysed for their assessments in
terms to changes the strategy of the business. This cause the large impact on the company to
adopt changes in the current strategy. So that if they have proper information then only they
should consider new strategies. When they implement the strategy, so they need to proper
evaluation of it and if they need to apply some control measures or find if there is any need of
change they can do it (Stoynov, 2016). Company should do properly analysis of the needs of the
new strategies otherwise it may result in failure due to unwanted changes.
Human resources
To run any organisation, human resources are necessary. Businesses change their
strategies in terms to regulate their growth. HR helps organise and managing the employees in
the business environment if they recruit new people in their company, and they are unaware of