酒店战略管理复习资料.docx

Knowledge points:1.strategy definition：Strategy is a set of related actions managers take to increase companys performance.2.Strategic process： Strategy analysis、Strategy choice、Strategy implementation3.The purpose of strategy is get information.We can not make a decision without any information. They included internal environment analysis and external environment analysis4. There are 2 parts of external environment：macro-far; micro-near (1)macro environment includes: l Social l Technological l Economicl Ecologicall Politico-legal(2)micro environment includes: l The threat of the entry of new competitorsl The threat of substitute products or services l The bargaining power of customers (buyers) l The bargaining power of suppliers l The intensity of competitive rivalry Porter referred to these forces as the micro environment, to contrast it with the more general term macro environment. They consist of those forces close to a company that affect its ability to serve its customers and make a profit.5.SWOT l Strengthsl Weaknessesl Opportunitiesl ThreatsAccording to the case study in PPT, learning to use these module to analyze the new case 6. Levels of strategy decisions: 7. Different levels of strategy : corporate level, business level and functional level, A successful business model results from business-level strategies that create a competitive advantage over its rivals.8. The features of service：Intangible、Inseparability、Perishability、Heterogeneity、Ownership9. Six travel and tourism-specific factors:High CostSeasonalityEase of entry、exitInterdependenceImpact on SocietyThe effect of external shocks10. There are two sides of impact in Tourism, positive impact and negative impact11. In practice ，the mission statements usually contain?o Indication of the industry, o Realistic market share, o Values and beliefs, o Ownership，o Geographical location, o Highly context-dependent objectives12.13. Good objectives must be ”CRIME” : o Communicable-o Realistic-o Internally consistent-o Measurable-o Explicit-14. 15.Competences are attributes like skills, knowledge, technology and relationship that are common among the competitors in an industry. 16. 2 different kind of activities： primary activities and support activities17.Marketing strategy can reduce costs by lowering customer defection rates and increasing loyalty18. Human Resource Strategy goals to improve employee productivity.19. A product with a high market share in a low growth market is normally both profitable and a generator of cash ,we called it cash cow; A product has low market share in a low growth market is termed a dog in that it is typically not very profitable, we called it dogs20. Companies must adopt long-term perspective in formulating a corporate-level strategy.21. There are 2 ways to add value：(1)changing customer perceptions of the product so that they are willing to pay a higher price for a product than for a similar products produced by other businesses;(2)reducing units costs of production below those of competitors.22. （1）Advantages and disadvantages of Focus Strategies？Advantages Focuser protected from rivals to extent can provide a product /service they cannot. Focuser has power over buyers because they cannot get same thing elsewhere Threat of new entrants limited by customer loyalty to focuser. Customer loyalty lessens threat from substitutes. Focuser stays close to customers and changing needs.Disadvantages Focuser at disadvantage to powerful suppliers because it buys in small volume (but may pass costs to loyal customers). Because of low volume, focuser may have higher costs than low-cost company. Focusers niche may disappear because of technological change or changes in customers tastes. Differentiators will compete for focusers niche.（2）Advantages and disadvantages of Differentiation StrategiesAdvantages : Customers develop brand loyalty. Powerful suppliers not problem because company geared more toward price it can charge than costs. Can pass price increases on to loyal customers. Powerful buyers not problem because product distinct. Differentiation & brand loyalty = barriers to entry. Threat of substitute products depends on competitors ability to meet customer needs.Disadvantages Difficulty maintaining long-term distinctiveness in customers eyes. Agile competitors can quickly imitate. Patents and first-mover advantage are limited in duration. Difficulty maintaining premium price.（3）Advantages and disadvantages of Cost Leadership Strategies?Advantages : Protected from competitors by cost advantage Less affected by increased prices of inputs if there are powerful suppliers Less affected by a fall in price of inputs if there are powerful buyers Purchases in large quantities increase bargaining power over sup