Hospitality Management Seminar Term Group Project

HOSP4060 – Hospitality Management Seminar Term Group Project

Each student is responsible for the section which corresponds with their order in the signup for the group. If you are the first person listed you will do all the items #1 in each section and if you are the second person listed then you would do the #2 item in each section and so forth. Written component : Your project is due at midnight on Friday of week 9. No partial projects will be accepted. Remember that 25 points a day are deducted for lateness. Use as a guide to writing the applicable sections your SWOT from the first presentation.

Paper For Above instruction

Introduction

The group project for the HOSP4060 Hospitality Management Seminar is a comprehensive strategic analysis of a chosen company. The assignment involves multiple components, including company status updates, mission statement analysis, SWOT analysis, competitive profiling, strategy formulation, implementation planning, and evaluation. Each participant is tasked with specific sections based on their designated order in the group, emphasizing collaborative effort and individual responsibility within the collective project. The deadline for submission is midnight on the Friday of week 9, and late submissions incur penalties of 25 points per day. This project aims to synthesize strategic management principles with real-world application, fostering an understanding of how organizations navigate complex business environments.

Company Status Update

This section demands a detailed overview beginning with a concise history of the company, including its origin, growth trajectory, and significant milestones. The company structure should be outlined, highlighting the governance model, leadership hierarchy, and organizational divisions. The scope of operations must be delineated, covering geographical presence, key markets, product or service lines, and customer segments.

Financial analysis involves assessing financial statements to determine profitability, liquidity, solvency, and operational efficiency. Marketing analysis reviews the company’s branding, customer engagement strategies, market positioning, and competitive differentiation. The future outlook projection should interpret current market trends, potential growth opportunities, and challenges that may influence the company’s strategic direction. The update should be cohesively written, flowing seamlessly between sections with appropriate headings for clarity.

Mission Statement Analysis

This analysis begins with selecting which components of a vision statement are relevant for inclusion in the company’s mission statement, such as core purpose, values, or unique competencies. The current mission statement should be presented verbatim, with an identification of key stakeholders including customers, employees, shareholders, and partners.

An evaluation should classify mission statement parts as internal (employee motivation, corporate culture) or external (market positioning, customer focus). A critique must consider whether the current mission resonates with today’s business landscape, reflecting social, technological, and environmental shifts. A proposed new mission statement should encapsulate the company’s purpose with clarity and inspiration, emphasizing stakeholder importance, especially the most influential stakeholder and why their role is critical to strategic success.

Input Stage of Strategy Formulation: SWOT Analysis & IFE

The SWOT analysis involves identifying the company’s core strengths, weaknesses, external opportunities, and threats grounded in current data. Strengths might include competitive advantages like brand recognition or operational efficiencies, while weaknesses may involve internal limitations or resource gaps.

Opportunities could encompass emerging markets or technological advancements, and threats may include competitive pressures or regulatory changes. The competitive profile should compare the company’s position relative to key rivals, considering factors like market share, customer loyalty, and innovation capacity. The cash position assessment provides insight into liquidity, funding capacity, and financial resilience, vital for strategy implementation.

Matching Stage of Strategy Formulation

Developing a SWOT matrix helps synthesize internal and external analyses, allowing strategic options to be evaluated against the company’s environment. Threats are prioritized based on their potential impact, with threats like new competitors or regulatory shifts analyzed in descending order of severity.

Opportunities are ranked by potential payoff, such as expansion into untapped markets or leveraging technological trends. Strengths are assessed for their ability to capitalize on opportunities or defend against threats, while weaknesses are examined for vulnerabilities. Creating a list of critical TOWS strategies, with at least two focus areas for each category, guides strategic decision-making to strengthen competitive positioning.

Decision Stage of Strategy Formulation

Building on the SWOT analysis, two feasible strategies are identified for pursuit—such as market penetration or diversification. The most attractive strategy should be selected based on alignment with company resources, external environment, risk factors, and potential for sustainable competitive advantage. The joint input from all group members ensures a comprehensive and balanced strategic choice, culminating in a well-reasoned recommendation that guides future direction.

Strategy Implementation Plan

This plan delineates practical steps for deploying the chosen strategy across functional areas like management, marketing, finance, R&D, and MIS. Each area must articulate specific objectives, action items, timelines, and responsible parties, structured quarterly over the next two years.

For instance, management might oversee organizational adjustments, marketing could roll out targeted campaigns, and finance would allocate budgets aligned with strategic priorities. Anticipated benefits and potential challenges should be discussed, with trade-offs analyzed to prepare the organization for changes. Consideration of consumer preferences informs tactical adjustments, ensuring strategy relevance and effectiveness in capturing market share.

Strategy Evaluation Plan

This component focuses on establishing metrics and timelines for assessing strategy success. The evaluation should include examining if internal strengths continue to be assets and if weaknesses persist or have evolved. The most promising opportunities and potential threats—such as technological disruptions—must be monitored, with contingency plans ready to address emerging issues.

The plan should also propose growth strategies, identify potential competitors to overtake, and describe how core competencies might be shifted or enhanced. Overall, the contingency-plan recommendations will prepare the organization to respond flexibly to future uncertainties, ensuring resilience and sustained competitive advantage.

Presentation

Participants will deliver a formal presentation resembling a stockholders’ meeting, explaining their strategic analysis, plans, and recommendations. The presentation, approximately 13-15 minutes long, should incorporate PowerPoint slides and effectively communicate the strategic management process and envisioned future for the company. Engagement, clarity, and professionalism are key to a successful presentation.

References

• Porter, M. E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press.
• Kaplan, R. S., & Norton, D. P. (1996). The Balanced Scorecard: Translating Strategy into Action. Harvard Business School Press.
• Johnson, G., Scholes, K., & Whittington, R. (2008). Exploring Corporate Strategy. Pearson Education.
• Hambrick, D. C., & Fredrickson, J. W. (2001). Are you sure you have a strategy? Academy of Management Executive, 15(4), 48-59.
• Grant, R. M. (2019). Contemporary Strategy Analysis. Wiley.
• Thompson, A. A., Peteraf, M., Gamble, J. E., & Strickland, A. J. (2018). Crafting & Executing Strategy. McGraw-Hill Education.
• Barney, J. B., & Hesterly, W. S. (2015). Strategic Management and Competitive Advantage. Pearson.
• Yukl, G. (2012). Leadership in Organizations. Pearson.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Concepts and Cases. Cengage Learning.
• Ansoff, H. I. (1957). Strategies for Diversification. Harvard Business Review, 35(5), 113-124.