Strategic Management Study Guide

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Study guide – Final exam – HT 438 Spring 2012
Textbook – Hospitality Strategic Management by Cathy Enz -2nd edition

Test will come from chapters 1,2,3,5 and 9 (no questions will come from the hospitality focus boxes) It is highly likely that you will see questions that you have encountered previously, possibly in a different format or stated in a different manner. Ch.1 Table 1.1 on page 6 traditional, resource and stakeholder approach to strategic management Don’t just memorize the table; understand what it is saying about strategic management. Understand enactment and emergent: page 8 … #’s 1-5 on page 10…. Middle page 12…. Table 1.2 page 14 Pages 16, 18, 19 and cont. on top of page 20 …..Know what organization control is… Strategic thinking: pages 21- 27…..key points summary: page 33 and top of page 34 Ch 2 sociocultural context: pages 40-45 ….economic context: pages 47-48 ….. political context: pages 48-59 ….. technological context: pages 50=54 Porter’s Five Forces Model is used to analyze the external and operating environment. pages 61-70 Ch 3 Understand what a vision statement and a mission statement are, how they differ and what their uses are. Ch 5 generic business strategies: pages 172-188…. Cost leadership, differentiation, best value, focus,… Strategies that reflect competitive dynamics: pages 191- 197….. Know the meaning of each of these terms: aggressive competition, first mover advantage, collaboration, threat of retaliation, government intervention, barriers to imitation, strategic flexibility, avoidance. …. Counter moves by rivals: pages 198-199 Ch 9 entrepreneurial: pages 359- 363 …. Table 9.1 pages 364-365 …. Table 9.2 page 367 (If you do not understand the terms in the table, read about them on pages 368-370) We can review any of the subject matter covered in these chapters during the next four classes. If you have questions ask. The point is to learn the material not just pass the test....
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