Assignment:
The hospitality and tourism industry worldwide operates in a turbulent competitive environment. Managers must make strategic choices that specify competitive advantages that will add value to the firm in a sustainable way. The right business strategy can increase the customer base, improve the company's image, and increase productivity. Your task is to select a hospitality, events, sports, or tourism company of your choice and explain how the management applies the strategic management tools for competitive advantage. To complete your task, Leverage the theories and models from the whole course for a structured analysis of the company's strategic choice by addressing the discussion points below:
1. Select a company: Company Selected (RITZ CARLTON HOTEL, VIENNA). provide a profile, and briefly refer to this company's vision, mission and values.
2. Using a relevant model, analyse/explain critical forces that have driven change in the remote and immediate environments of the chosen company. Identify and evaluate one competitive method chosen by the company and highlight how the 3. competitive method was used to gain a competitive advantage. Further, identify critical investments/decisions that the company's management has made to 4. optimise the chosen competitive method in question 3. 5. Explain the company's core competencies that have enabled it to gain a competitive advantage based on the chosen method in question 3. 6. Based on the strategic models taught in class, reflect on the current and future of the company's strategic choice by explaining the following: a) What should the company's management do differently? b) Where should the management re-allocate their resources?
Students are asked to use the coalignment model for this exam which are:
-Environmental scanning and assessment
-strategy choice
-firm structure
-firm performance