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Strategic Planning for The Hospitality Industry

   

Added on  2020-10-22

10 Pages2975 Words500 Views
Strategic Planning For TheHospitality Industry

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY ..................................................................................................................................11. Factors that have to be considered when formulating strategic plans.....................................12. Critically assess the strategic positioning of Maybourne Hotel Group by carrying out anorganizational audit.....................................................................................................................33.Environmental audit for Maybourne Hotel Group...................................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8Books and journals......................................................................................................................8

INTRODUCTIONThe development in the hospitality industry has lead to importance of strategicplanning for firms to have an emergence in the industry. Due to globalization life standards ofpeople in UK have been improved which deeply contribute to the development of hospitalityindustry. Strategic planning is an organizational process or activity which defines the strategy,set priorities, allocating resources, and decision-making, operational management to achieve thisplan of action (Phillips and et.al., 2010). It is a mechanism to control and guide implementationof strategy and where an organization determines their vision for the future, as well as identifiesgoals and objectives which are to be attained. The following is a strategically oriented planning report for Maybourne Hotel Groupoperating in UK which is Qatar owned British luxury hospitality firm. This project is conductedto properly analyse the strategic planning process by conducting organizational andenvironmental audits, understand new strategies and resources that are required to beimplemented by Maybourne Hotel Group. MAIN BODY 1. Factors that have to be considered when formulating strategic plansFormulating strategy plans should first include finding out the needs that is to be fulfilledfor making these strategies. After that, goals and objectives must be declared and local ornational surveys may be conducted to obtain data through newspapers, websites, questionnairesetc. This is done to understand market, customers and competitors of the economy. Then is theimplementation process of formulated plan or strategy focusing on future goals. Moreover, thefinal step is monitoring data. Maybourne Hotel Group needs to analyse certain factors in anexternal and internal environment while developing a strategic plan.They are as follows:Communication- An effective top down and bottom up communication should beimplemented by Maybourne Hotel Group in all levels of the organization for efficiently carryingout its operational activities. All employees must be informed about the strategical planningprocess and how they will be involved. Bottom up approach includes workers providing input tothe plan of action through feedback surveys, meetings etc. This will be followed by the top downcommunication where senior management will share strategic program with staff about how theirengagement will assist in success of strategies execution.1

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