Strategic Planning for the Hospitality Industry

Strategic Planning for
the hospitality industry

Table of Contents
INTRODUCTION...........................................................................................................................1
Critical analyse of most appropriate factors for implementing a strategy...................................1
Creative business strategies.........................................................................................................3
Performance metrics....................................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Strategy is considered as the wide term that tends to undertake the effective guidance and
direction to company that is helpful for management in terms of prominent functioning of
company. It is essential for company to consider the effective position and also develop
signifiant planning for effective support to accomplish business objectives and goals. Strategic
planning is the continuous procedure that tends to develop prominent documentation for the
small business which is useful in terms of operating business effectively (Elbanna, 2016). It is
useful in developing effective business ideas and thoughts in terms of fostering entrepreneurship
to contribute in growth and success. This report is based on The Waldorf Hilton as hotel offer
effective quality of foods and services to their customers and also need to consider the prominent
changes in bringing new technology for maintaining competitive advantage. It tends to cover
effective factors like creation of business strategies in terms of becoming more competitive in
hospitality sector and performance metrics is useful for effectively measuring performance.
Critical analyse of most appropriate factors for implementing a strategy
Strategic planning is considered as the continuous procedure that need effective thoughts
and opinions for signifiant planning considering the part of higher level of management which is
useful in enhancing the overall performance of company and profitability. It is essential for
company to identify the suitable demand of customers and offer products which is useful in
achieving effective brand image by increasing sales (Bryson, Edwards and Van Slyke, 2018).
Moreover, The Waldorf Hilton is the franchisee of Hilton hotel group that offer wide range of
qualitative services to their guests. At the time of executing franchising strategy, prominent
factors are useful and undertaken by managers. For this, signifiant factors are used for
franchising strategy is mentioned as: Dedicated resources: In terms of becoming more successful at the time of executing
strategy, dedicated resources are the most effective factor. For this, resources are the
effective kind of personal talent and outside supply that is useful for effective support and
help. The prominent sources which are useful in executing strategy consider intellectual
resources, HR, finance and many more. At the time of executing franchising strategy,
effective factors are considered by managers of The Waldorf Hilton as they provide
significant options that tends to eliminate cost by offer suitable return in stipulated period
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of time (Elbanna, Andrews and Pollanen, 2016). It is complex for the franchise to have
effective skill levels regarding the trust and also empowered for implementing strategic
decisions. For this, the signifiant factors are useful for the overall execution of strategy. Clear market position: It depict the better marketing position the undertake various
phases to developing reputation and also identify that company need to generate
awareness among customers in an effective manner. This factor is useful in organisation
to target audience and market. For effectively executing the respective strategy, managers
of Waldorf need to prominently identify the signifiant market position to achieve
effective share that are needed for sustainable future. For having effective market
position various factors tends to pressurise franchising system in terms of managing
signifiant additions for the perception in terms of setting expectations. This factors is
useful for company to differentiate them from their competitors and also developing their
suitable perspective. Therefore, The Waldorf Hilton tends to clearly define the market
position for their team by executing franchising strategy. Workforce: Effective execution of franchising strategy, this factor is essential in an
organisation as they need to undertake win-win terms among individuals and organisation
(Mmutle, 2017). In terms of signifiant implementation of strategy it tends to disappear
due to impossible relations problems with the manpower and it depict because of the
shortage of commitment and trust among the parties (David, David and David, 2017). It
is important for franchisee like The Waldorf Hilton in terms of making sure for the
adequate presence of employees for effective knowledge in terms of delivering quality to
their customers at the time of executing strategy. Therefore, it relies on the industry
regarding effective working or not.
 Commitment: It represent the effective agreement in terms of performing things and
prominent actions with effective potential and dedication. Therefore, it tends to depict
suitable initiative from the top that need to be end here. For the signifiant execution of
strategy, commitment is considered the basic factor that need suitable commitment from
various individuals considering the management and workers in terms of involving that
executing devised strategies. Along with this, there are several types of commitment that
are essential for implementing franchising strategy. For this, some factors considered as
the continuous commitment, affective commitment and normative commitment (Van Den
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