Strategic Planning for the Hospitality Industry

Strategic Planning for the
Hospitality Industry

• Introduction
• Strategic direction of hospitality
• Porter’s five forces model analysis
• Internal and external environmental factors
• Popular strategic option
• Conclusion
• References
Table of content

Introduction
Strategic planning is an establishment structure or frame work of explaining its strategy
or direction and making decisions on assigning its assets to pursue this plan of action by
considering its capital and human resource. Several business analysis tools and techniques
can be utilised and implemented in strategic planning. Strategic planning is the official
consideration of a company’s future course. Strategic planning is crucial to an
establishment as it offers a sense of direction and outlines measurable aims.

Strategic direction of hospitality
Strategy- It basically considers and includes setting or establishing aims and priorities,
analysing activities to accomplish the aims and mobilising assets to perform the activities.
A strategy defined how the ends or goals will be accomplished through organisation’s
resources.
Definition of Strategic planning- It is a systematic process which assists the firm like
Shangri-La Hotel set an ambition for its business’ future and analyse how effectively to
accomplish it.

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Importance of strategic planning- Strategic planning is required in organisation like
Shangri-La Hotel, to monitor the direction for business. It concentrates on effectiveness
on company and assures that everyone in the business is working regarding an ordinary
goal and purpose like build competitive advantage, prioritise fiscal demand, align assets
for optimal outcomes and involve with staff and communicate what needs to be
completed.

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Mission- The purpose of Shangri-La Hotel is to delight and please their guests and
visitors every time by creating engaging experiences straight from their heart.
Vision- The aim and vision statement of Shangri-La Hotel is to be the first choice
for visitors, guests, colleagues, shareholders and business partners.
Values- The organisation values of humility, courtesy, respect, helpfulness,
sincerity and selflessness.