Strategy in Quality service management Flashcards
often used in tangible goods, rather in service related industries.
Strategic planning
the company is able to identify competitors while satisfying needs and wants of the guests.
Strategic planning
process of identifying a company’s internal and external characteristics which will contribute to the attainment of its goal pointing to a specific direction
strategic planning
to be successful and make a profit in the industry’s competitive market, every organization needs a clear strategy.
can help decision makers make the best choice for the company
Porter’s generic strategies
Three strategies in achieving competitive edge:
- cost leadership strategy
- differentiation strategy
- Focus strategy
increasing profits by reducing optimal costs and charging low prices.
needs to invest in new technologies and efficient logistics
cost leadership strategy
making a company’s service being attractive and unique in comparison to those competitors.
TRENDSETTER
differentiation strategy
developing services for niche markets; requires deep understanding of the customer’s need of a company.
focus strategy
aims to meet needs by providing something special and extra that the customer can’t get elsewhere.
Focus strategy
PESTEL means
Political
Economical
Social
Technological
Environmental
Legal
Strength and weakness
Internal
Opportunities and Threats
External
an organization assess everything; includes strengths.
flaunts the weakness of an organization to be addressed and resolves
Internal analysis
identifying how to the firm positions itself in the market with respect to its rivals.
it showcases opportunities and threats
External analysis
Ford, 2011
H & T organization must cope with the changes in the future which includes :
demographics
technology
social expectations
economic changes
competitions
stakeholders
change the nature of its industry and how it is managed by the key stakeholders.
economic forces
changes in the workplace in the market in the H&T sectors will continue to affect operations of the industry
demographics
Who states that : Businesses are a big part of the ecosystem and need to co-evolve to thrive and survive.
What is the statement talks about
Moore, 1996
Competitors
has identified 4 types of relationships existing in competitors
Bengtsson, 1999
4 types of relationships existing in competitors. 4 C’s
Coexistence
Cooperation
Competition
Co-opetition
exist on social exchanges between competitors.
Each competitor knows about each other but does not interact with them
Coexistence
there are frequent exchanges between the players which comprise of business, information, and social exchange.
All competitions are cooperating but it does not mean they are not competing.
Cooperation
a relationship based on an action-reaction pattern.
dependence and power are equally distributed based on their position in the ecosystem.
competition
cooperation between players; includes economic and other forms of exchanges.
power in the cooperative side of the relationship which is based on how it functions in the ecosystem.
co-opetition
Highest and lowest visitor in 2012
Korea
UK
Highest and lowest visitor in 2019
China
Malaysia