Environmental Scanning System for a Hotel
DEPARTMENT OF HOSPITALITY MANAGEMENT
AN
ESSAY ON
Steps to Establish
Environmental Scanning System For a Hotel
Identify the steps you would take to establish an environmental scanning system for a Hotel business and critically evaluate the process as an aid to effective strategic management
Present business scenario across the world is very complex and unpredictable. The globalisation, changes in demographics and technological advancements and political changes influence the business a great deal (Kanter 1991 as cited by Chun Wei Choo, 1995).
Hotel industry is one of the fast changing industries and needs to attune to the external changes for the greater viability. Therefore a hotel industry needs to have a strategic plan for a sustainable competitive advantage and for a better future. Strategic plan is a practical and flexible business plan that envisions the vision, mission and goals of the organisation, environmental scanning, strategy development, implementation and performance monitoring that every hotel industry needs to have.
Environmental scan is an important component of Strategic plan that enables the managements to identify, monitor and forecast the external trends and impacts. And in combination with internal analysis it enables the management to formulate strategic directions and strategic plans.
The steps in Environmental scanning include the examination of Vision, Mission and Goals of the organisation, Environmental scanning process, Strategy formulation, and Strategy implementation, Forecasting and Monitoring and Evaluation
The mission statement of the hotel portrays the business vision that defines the measurable financial and strategic objectives. The objectives are the areas of emphasis within the organization with a specific goal to do quality work in a specified area. After finalising the main goals and objectives the Action Plan should be prepared for implementation, so that the success can be measured.
Environmental scanning refers to
AN
ESSAY ON
Steps to Establish
Environmental Scanning System For a Hotel
Identify the steps you would take to establish an environmental scanning system for a Hotel business and critically evaluate the process as an aid to effective strategic management
Present business scenario across the world is very complex and unpredictable. The globalisation, changes in demographics and technological advancements and political changes influence the business a great deal (Kanter 1991 as cited by Chun Wei Choo, 1995).
Hotel industry is one of the fast changing industries and needs to attune to the external changes for the greater viability. Therefore a hotel industry needs to have a strategic plan for a sustainable competitive advantage and for a better future. Strategic plan is a practical and flexible business plan that envisions the vision, mission and goals of the organisation, environmental scanning, strategy development, implementation and performance monitoring that every hotel industry needs to have.
Environmental scan is an important component of Strategic plan that enables the managements to identify, monitor and forecast the external trends and impacts. And in combination with internal analysis it enables the management to formulate strategic directions and strategic plans.
The steps in Environmental scanning include the examination of Vision, Mission and Goals of the organisation, Environmental scanning process, Strategy formulation, and Strategy implementation, Forecasting and Monitoring and Evaluation
The mission statement of the hotel portrays the business vision that defines the measurable financial and strategic objectives. The objectives are the areas of emphasis within the organization with a specific goal to do quality work in a specified area. After finalising the main goals and objectives the Action Plan should be prepared for implementation, so that the success can be measured.
Environmental scanning refers to