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Strategic Planning for the Hospitality : Assignment

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Added on  2020-10-05

Strategic Planning for the Hospitality : Assignment

   Added on 2020-10-05

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STRATEGIC PLANNINGFOR THE HOSPITALITYINDUSTRY
Strategic Planning for the Hospitality : Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Knowledge and understanding about most popular strategic option ..........................................1TASK 2............................................................................................................................................3Factors affecting implementation of strategies ...........................................................................3TASK 3............................................................................................................................................5Analysis and evaluation of different performance metrics .........................................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONStrategic planning is an organisation's process of defining its strategies, to set priorities,focus on energy and resources. This planning is also termed as management activity thatstrengthen operations and always ensures that employees and other shareholders are working toattain common goal. Strategic planning helps organisation to plan its future activities that areneeded to be performed. Planning gives a glance of future on some expected basis that helps tobe prepared for future events (Brotherton, 2012). Strategic planning helps to develop a plan,guideline and creates a roadmap for hotel HOLIDAY INN. These plans will be prepared from setmissions, vision, values and goals that are set to be achieved by continuous working towardsthem. Allocation of resources towards productivity activity becomes well defined with strategicplanning. In this project report discussion regarding most popular strategic options, factorsaffecting implementation of strategies will be done. Together with this, analysis and evaluationof different performance metrics will be included. TASK 1Knowledge and understanding about most popular strategic option Franchising is an agreement between two parties in which one party grants right to usetrademark or trade name to other party. Franchising is based on the market concept whichis adopted by organisation as a strategy for expansion of business. When strategy offranchising is done in a right way then both the parties involved are benefited by this.Franchising gives a process that needs to be followed before giving franchise. Thisprocess starts with finding a growing market that absorbs new services provided. Afterthat an organisation that is ready to become franchisor and is capable of managingoperations will be provided with franchise and all legal documents are prepared.Franchisor have all the managing responsibilities and a part of revenue will be transferredto franchisee. HOLIDAY INN will consider this method to expand its business as itfulfils all requirements that are required by company. Management contract is an arrangement under which, contract to manage operations ofan enterprise is given in different hands. Other enterprise performs necessary managerialfunctions and in return charge fees for this service. Operations of hotel industry are basedupon efficient management. This contract provides an opportunity to give management in1
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