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Strategic Hospitality Management all lectures IHM
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Summary of all lectures of Strategic Hospitality Management, this helps with the assignment and the test.
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Summary of all Strategic Management LecturesTable of Contents
Strategic Management lecture 1........................................................................................2
Strategic Management lecture 2........................................................................................8
Strategic Management lecture 3......................................................................................13
Strategic Management lecture 4......................................................................................16
Strategic Management lecture 5......................................................................................20
Strategic Management lecture 6......................................................................................26
1
, Strategic Management lecture 1
After this lecture you will…
Know the strategic statement
Know the different levels of strategies
Understand the strategy model of Johnson Whittington and Scholes
Understand the four strategy lenses (will not be testes)
Slightly different exercise on strategy
The Blind Men and the Elephant J. Saxe (not obligated)
We all see strategy slightly differently and should be open to all viewpoints
It is a wide field of both academic research and practical implementation 8 weeks
is simply no enough to teach or learn all of it… we focus on some key theories and
apply these to relevant examples.
What is strategy?
What isn’t strategy? (everything can have a strategy attached to it)
The long-term direction of an organization (Johnson, Whittington & Scoles, 2011)
o Short sighted (you also have short-term and mid-term… it involves many
different components.
Strategy and Competitors
“Competitive strategy is about being different. It means deliberately choosing a
different set of activities to deliver a unique mix of value.” (Porter, 2007)
o Competition means diversity, renewal, innovation.
So what do we know so far?
Long-term direction
Competitive advantage
Organization complex relationships with many internal and external stakeholders
Who are the Stakeholders?
Internal External Interface
Employees Suppliers Government
Managers Customers (national/EU)
Shareholders Media Municipality
Investors Competitors Society
Competitive advantage
Creating competitive advantage
Sustaining competitive advantage
o Value creation
o Company growth
2
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