Handout 3 Flashcards
is identifying an organization’s internal and external characteristics that will contribute to its attaining goal, pointing to a specific goal, and formulating different policies to achieve it.
Strategic Planning
it focuses on increasing profitd by reducing operational costs and charging lower prices.
The cost leadership strategy
it focuses on making a company’s service attractive and unique compared to its competitors .
the differentiation strategy
it represents a promise to guests of what kind of quality and value of experiences are associated with it.
Brand image
it concentrate s on developing services for niche markets and requires a deep understanding of the customer’s needs.
The focus strategy
It refers to how the organization is positioned in the market compared to its competitors. It also showcases an organization’s opportunities and threats so they will be wary about which aspects will be uncontrollable to a certain level.
Environmental Assessment
are the assumptions/ conclusions drawn by the organization about the future of the industry and market from assessing the environment. These are the educated guess of the managers after assesing all the long-term aspects of the external environment and trying to use them to discover what forces will impact the organization in the future and what customers will want in that environment.
Strategic premises
it involves searching for strengths and weaknesses that define the organization’s core competencies and considers its strong and weak points regarding its ability to compete in the future. It is where an organization determines what it does well, what it does not do well, and how its strength and weaknesses pair with what it wants to accomplish.
Internal Assessment
The organization’s ___________ are the bundle of skills and technologies that gives the organization a critical difference in providing customer benefits and their perceived value.
Core Competencies
The _______ articulates what the organization hopes to look and be like. It presents the hopes and dreams which create a picture toward which the organization aspires and will provide inspiration in their journey.
Vision
The ______statement specifies the organization’s purpose , why it was founded, and for which it continues to exist. It serves as a guide to define the how, what, who, and where of the organization’s overall service strategy that will drive the design of the service product , srvice environment , and service delivery system.
Mission
refers to the age and generation groups, sex, and nationality of the tourism and hospitality organization’s potential guests , investors, and employees.
Demographics
it can be developed after identifying the service strategies since the organization has a clear idea of who they want to serve, what they want to serve, where is the market of that service , where they want to go, and how they intend to go there.
Action Plan
