Course Title: Hospitality and Tourism Strategic Management
Course Description
Using a case study and seminar approach, this course provides
participants with a firm understanding and appreciation of various
managerial strategies available in the hospitality and tourism industry.
Emphasis will be placed on those marketing and financial concepts
specific to the creation of long-term business strategies. Students will
be encouraged to identify and apply strategies appropriate to market
leaders, growth companies, firms entering the business and those wishing
to grow through mergers and acquisitions. Students will develop the
skills necessary to guide decision-making regarding acquisition and
development of hospitality properties, and in analyzing the role of
franchising in the strategic planning of a business.
Course Outcomes
At the completion of this course, students will be able to:
identify various kinds of functional, business, and corporate strategies
commonly
used in the hospitality industry;
perform assessments of various internal and external business
environments;
think strategically;
recognize business and industry opportunities and threats;
appreciate the unique elements of the services industry and demonstrate
their
effects upon designing strategies within the hospitality industry;
use various analytical tools to measure the strengths and weaknesses of
a firm;
indicate specific profit centers within a company most likely to produce
profits;
compare and contrast short-term tactical maneuvers with long-term
strategic endeavors;
evaluate financial statements and determine a firm’s profitability;
and,
plan, develop, and deliver a well-organized presentation that emphasizes
an easily
recognizable thesis, the orderly arrangement of main concepts and
repetition of
principal themes, well-positioned logical transitions, and a
meaningful conclusion.
The Project
Each student will complete a written analysis (approximately 8-12 pages
in addition to an executive summary) of the strategic marketing and
financial goals and objectives of a specific hospitality firm as
identified by the instructor. This analysis will conform to APA citation
style as appropriate for such a report with one exception: all citations
for published works will include a page reference. Citations for
Internet material will also conform to APA citation style but will not
include page references, except as indicated by accepted APA style
guidelines.
A quality product will include (at a minimum):
An executive summary presenting your key findings
A Table of Contents and a Table of Figures or Tables if appropriate
A company overview and its business model
A External and Internal Environment Analysis
A discussion of its marketing strategy
An analysis of its financial performance
Your assessment of its future
Your conclusion
References
Appropriate appendices
A copy of the company’s Annual Report
Financial Highlights for most current year
Ratios & Ratio Analysis including a thorough discussion
Balance Sheet and/or Income Statement
Cash Flow (generally from Annual Report
The document must be, of course, paying special attention to the APA
style.
