LT6018 - Strategic Planning for the Hospitality Industry (2022/23)
|Module specification||Module approved to run in 2022/23|
|Module title||Strategic Planning for the Hospitality Industry|
|Module level||Honours (06)|
|Credit rating for module||30|
|School||Guildhall School of Business and Law|
|Total study hours||300|
|Running in 2022/23(Please note that module timeslots are subject to change)||No instances running in the year|
This module equips students to become future leaders and managers within the hospitality industry by providing an advanced perspective on the strategic planning process. It will focus on strategy formulation, planning, implementation and an evaluation of business impact in terms of strategic alignment. The module will present and evaluate a variety of analytical models, techniques and concepts, considering their utility and application to a range of contexts within the hospitality industry.
The module will be delivered using lectures, group tutorials, case study discussions and presentations, and practical workshops will be conducted with professional hospitality industry executives. These individuals will be familiar with strategic decision-making process within their organizations.
Students will be assessed based on a case study examination and a group report.
The aims of this module are to encourage students to:
• Study the concept of strategy formulation and the strategic planning process in hospitality organisations.
• Discuss the interrelationship between strategic analysis, strategic choice, strategy implementation and the alignment of strategic plans
• Develop analytical thinking and business communication skills.
• Strategy and the Tourism, Hospitality and Events context
• Vision, Mission, Goals and Objectives
• Analysing the internal environment
• Analysing the external environment
• The Strategy Formulation Process (Analysis, Choice, Implementation, Alignment)
• Strategic Selection
• Strategic Implementation and Strategy Evaluation for Hospitality Organisations
• Performance Metrics including Critical Success Factors (CSFs), Key Performance Indicators (KPIs) and the Balanced Scorecard
Learning and teaching
The module will be delivered through weekly teaching sessions in the form of 12 lectures, two revision and feedback classes, 10 group tutorials, two workshops from industry experts and two field trips.
The lectures will focus on theoretical knowledge and understanding whereas group tutorials will focus on the application and analysis of these within the hospitality industry using a variety of means including case studies, problem solving, strategy discussions and debates. Articles from various magazines and journals will be used in addition to directed reading from text books and online materials/webinars of relevance to the hospitality industry.
Hospitality industry experts with relevant experience will be invited as guest speakers during the two workshops (of a total duration of 6 hours) with a focus on career skills, employability issues and strategy development in a given hospitality enterprise or sector. Field trips will be organised to hospitality organisations to understand the context to the business strategy that may be developed. These visits will be instrumental to undertaking assessment coursework.
On completion of this module, students will be able to:
1. Determine and apply the range of appropriate theories, models and conceptual frameworks that can be used to formulate a business strategy.
2. Interpret and critically assess the internal and external factors affecting organisations operating within the hospitality industry and apply this knowledge to evaluating the organisation’s competitive and strategic position.
3. Generate and evaluate strategic options to account for a range of possible contexts.
4. Determine the most appropriate way to implement a chosen strategy.
5. Critically evaluate current and future strategies with regard to their likely effectiveness.
The students will be assessed based on two assessments:
Assignment 1 (50%) - Students will undertake an Individual case study on an agreed organisation and present their findings individually in the form of a written report (2,500 words maximum).
Assignment 2 (50%) – Students will be required to take a 2.5 hour open book examination based on a case scenario (not the questions) that will be issued to students in advance. Students will be allowed to research and prepare for the examination, and bring in no more than 4 sides of A4 notes to the examination.
Core Text Books
• Johnson, G., Whittington, R., Scholes, K., Angwin, D., Regner, P., (2013) Exploring Strategy: Text and Cases. 10th Edition. New York: Pearson Education
• Evans, N.,(2015) Strategic Management for Tourism, Hospitality and Events. 2nd Edition. London: Routledge
Recommended Text Books
• De Wit, B. and Meyer, R.,(2010), Strategy Process, Content, Context: An International Perspective. 4th edition. EMEA: Cengage Learning
• Okumus, F., Altinay, L., and Chathoth, P. K., (2010) Strategic Management for Hospitality and Tourism: Content and Process, Oxford: Elsevier
• Thompson, J., and Martin, F., (2010) Strategic Management: Awareness and Change. 6th Edition. South-Western: Cengage Learning
Journals and Other Resources
Current Issues in Hospitality
International Journal of Contemporary Hospitality Management
International Journal of Hospitality Management
Journal of Hospitality & Leisure Marketing
Journal of Hospitality, Leisure, Sport & Tourism Education