Strategic adaptability is the ability of an organization to make changes in the way they conduct business and look at the various situations which arise. It is imperative that companies remain flexible enough to make adjustments that will beneficial to the well being of the company. There are many different aspects of the business world which can be benefited by the company remaining open to new ideas and options thereby being able to adapt their strategic plan to the current situation.
In the case of Queen’s Hotel, changes in the hospitality industry create the need to stay current and flexible in order to maintain a competitive edge. By adapting to the changes in the hospitality industry, Queen’s Hotel will be able to attract customers by offering better customer service.
SendOutCards is a company which conducts business solely online. With the growing popularity and convenience of the Internet, more and more companies are seeing a dramatic increase in the electronic side of their business. Because of the wider competition base, it is necessary for SendOutCards to find ways to set themselves apart from the other companies out there. By offering additional services, such as gift baskets, gift cards and e-cards, SendOutCards will be able to increase their sales and customer base by offering more options which will appeal to more people.
3M is a company which manufactures a wide variety of products and has a bigger opportunity to find ways to be adaptable. They can use the example of other companies which are in similar circumstances and learn lessons without the need to experience the event. By adapting in this manner, 3M will be proactive in making sure they are current with the trends and forces which may impact them.
Odwalla is in the food and beverage industry and must look to the consumer for the trends which will affect their business. By staying on top of what people are looking for in their snack bars and beverages, Odwalla can provide products which will not only be natural and healthy, but they will satisfy the ever changing preferences of the health conscience consumer.
The forces and trends which affect each of these businesses are many and constantly changing. We will address a few of these trends and discuss how these companies can adapt and improve their business by making strategic changes which will turn what could be a potentially difficult situation into a chance to grow and improve.
Trends in the Hospitality Industry
Every industry has trends and they play a big role in our society. The bell-bottom trend in clothing, the DVD player in an SUV in the car industry, the flat screen T.V. in your living room, but the most important trend is in the travel industry. What is a trend? According to dictionary.com, a trend is the general course or prevailing tendency; drift. If this is a direct quote it needs to be in parenthesis and not italicized! In marketing, it is the direction the market is heading . In economics, it is the behavior of the society. In this synopsis, three trends will be identified, their relevance in the hospitality industry explained, and how Queen’s Hotel has used the trends to strategically plan ahead. The trends-Travel, Internet, Casino hotels
Travel: According to Plunkett, the travel business is now emerging as a more streamlined, efficient and focused industry. Many of the biggest, most successful firms are becoming extremely global in nature Is this another direct quote? (Plunkett, 2008). Many people are finding ways to travel, either for vacationing, business, or personal reasons. Internet: The information technology highway has found a way to help the consumer plan all their needs with the click of a mouse. The internet provides a simple way for consumers to shop in the privacy of their home. Casino hotels: Many hotels are now casino ready in most parts of the developed world. Casinos have become a trend that people have come to gamble with. Casinos have become...
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