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Strategic Management of Hospitality Businesses

Additional course materials Citi4027_ Viesmilibas_uznemumu_strategiska_vadiba.pdf

Course developer

Prior knowledge

Citi3065, Communication in Hospitality

Citi3069, Hotel Services Management

Ekon3045, Taxes and Duties

PārZ3102, Production Management

VadZ3062, Entrepreneurship

VadZ3066, Human Resource Management

Course abstract

Within the framework of the study course students gain insight into the role of strategic planning in company management, strategy components, levels and stages. Students are introduced to the strategies and their choices in applying the strategy to the hospitality industry. The course provides an insight into the most widely used strategies in the international market. Within the scope of study, students have opportunity to study the environment and competition in the hospitality industry.

Learning outcomes and their assessment

Knowledge - Understanding of the basic principles of the development and use of strategy in the management of a hospitality company under conditions of change.
Knowledge is evaluated in two tests, which include both open and closed questions. The test is successful if there are at least 40% of the correct answers.
Skills - can choose and apply rational and effective information acquisition, systematization methods for assessing the economic activity of a hospitality company; according to the results of the analysis of the business of a hospitality company, to plan the company's development directions;
Skills are tested in 3 practical works, which includes industry analysis, company case studies and development of solutions.
Competence - ability to develop a strategy for the hospitality company, which includes a detailed set of measures; ability to present and justify the choice of the strategy according to the operating conditions of the company.
Competence is tested in group work- ability to argue and justify opinion and the result obtained.

Course Content(Calendar)

1 Strategy definition, basic concepts.
2 The role and place of strategic planning in terms of hospitality management strategy.
3 Management strategy and related parties at hospitality companies.
4 Intended and realized strategy, its elements.
5 Obtaining external environment information, application, research of hospitality business environment, competitors.
6 Strategy Forecasting: Constraints, Weaknesses, Traditional Mistakes. The Importance of the Workforce.
7 M. Porter's 5 Force Model.
8 Internal environment: identification of strengths and weaknesses, core and complementary values.
9 The conceptual model of the market life cycle, the life cycle of hospitality companies in the strategic aspect.
10 Levels of Strategic management.
11 Alternatives to Hospitality Business Survival Strategies. Blue Ocean and Red Oceans Strategy.
12 Functional level of strategic management, customer value management in hospitality enterprises.
13 Strategic Management Business Level: Using Competitive Advantages, Cost Leadership Strategy in Hospitality.
14 Competitive Force Matrix, Business Line Matrix in the hospitality industry.
15 Corporate level of Strategic Management in the Hospitality Industry, the Importance of Diversification.
16 International level of strategic management in the hospitality industry.

Part-time extramural studies: All topics specified for full-time studies are accomplished, but the number of contact hours is one-half of the number specified in the calendar.

Requirements for awarding credit points

For awarding credit points students have to successfully pass 2 tests, do 3 practical tasks, and participate in the group's practical works.

Description of the organization and tasks of students’ independent work

Within the framework of independent work, students conduct field research, study industry, competition, industry trends, management and strategic management problems in hospitality enterprises.

Criteria for Evaluating Learning Outcomes

The final assessment of the study course consists of 2 tests and 3 practical works. Each work represents one fifth of the grade.

Compulsory reading

1. Balode I. (2008). Tūrisma biznesa pamati. Rīga: Biznesa vadības koledža. 272.lpp
2. Ivanova M., Ivanov S., Magnini V. (2016). The Routledge Handbook of Hotel Chain Management. New York: Routledge, pp.12- 27.
3. Freijers V. Tūrisma mārketings: Rīga: Biznesa augstskola Turība, 2011. 621 lpp.
4. Kalve I. Apseglot pārmaiņu vējus: stratēģiskā un pārmaiņu vadība. Rīga: Biznesa augstskola Turība, 2005. 295 lpp.
5. Lake N. Stratēģiskā plānošana: praktisks mācību līdzeklis. Rīga: Multineo, 2007. 247 lpp.
6. Baye M.R. Managerial Economics and Business Strategy. Boston: McGraw-Hill/Irwin, 2009. 623 p.
7. Hill C.W.L. Strategic Management: and Integrated Approach. Boston, USA: Houghton Mifflin, 2008. 1072 p.

Further reading

Enz A. Cathy. Hospitality strategic Management: Concepts and cases. Wiley J. & Sons: 2009. 696 p.

Periodicals and other sources

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Notes

Catering and Hotel Management, 4th year