HMD305 Business Strategy, Sem 1 2018
Strategic Management Plan °Oa) j
Group assessment worth 40% 0 V'
Presentation worth 10%
Due date — Week 13
Word coup •
Develop a strategic management plan for a regional tourism association or business within the hospitality industry. The focus of the strategic management plan will be the application of contemporary theory taking into account emerging and long-term trends and developments.
The report must address the following:
1. A brief overview of the business including; size, location, vision and mission
2. Situation Analysis
a. General environmental analysis (chapter 2).
Evaluate the following trends and predict the segments that you expect to have the most
influence over your business and why?
i. Technological trends
ii. Demographic trends
iii. Economic trends
iv. Political/legal trends
v. Sociocultural trends
vi. Global trends
vii. Physical environment
b. Industry analysis
Using Porter's five forces model, discuss and evaluate how attractive the industry is.
c. Competitor analysis
Identify key competitors and give an overview of their objectives, strategies, strengths,
weaknesses and capabilities.
d. Internal analysis
Assess the firm's strengths and weaknesses through a value chain analysis. Note, strengths are internal resources and capabilities that have the potential to be core competencies place the firm at a competitive advantage and vice versa for weaknesses.
3. Identification of Environmental Opportunities and Threats and Firm Strengths and Weaknesses (SWOT analysis).
Attempt to match firm strengths with opportunities. How would you minimize environmental threats?
4. Strategy Formulation
Strategic alternatives
i. Identify 2-4 alternative strategies (business-level_chapter 4, corporate-level_chapter 6).
ii. Demonstrate how each alternative links in with the firm's strengths, capabilities and core competencies. How do these alternatives take advantage of opportunities and minimize environmental threats?
iii. Which alternative is the best and why?
5. Implementation and Action Plan of Strategic Alternatives
5. Implementation and Action Plan of Strategic Alternatives
a. Implementation issues, e.g. structural changes, leadership, new controls, incentives, etc.
b. Action plan- brief overview of who, what, where, when and how.
REPORT FORMAT:
1. Cover page
2. Table of contents
3. Introduction
• Introduce the topic and scope of the report. Identify key objectives, i.e. what the report aims to demonstrate.
4. Report Body
• Use a numbered heading system.
5. Conclusion
• Brief summary - the main points. Link back to objectives in introduction. What are the key insights? No new information should be introduced here.
6. Reference list
• See the Referencing Guidelines on the Library tab.
• List any books or journals, links and resources cited in text. Use the Harvard Referencing system. Be sure to check your work carefully for spelling and grammatical errors or any missing references. Reading the finished paper out loud is a good way to find this kind of error.
• Correct referencing is important in order to avoiding plagiarism. In addition to the extensive referencing guide on the library portal, there is a summary on Moodle, in the assessment area. You MUST follow the requirements as set out by MP.
7. Appendices
Report Body
In each paragraph:
1. Sub-title/Concept
2. Describe two companies under the concept
3. Compare — which company is relatively successful & reasons behind
4. Compare — which company is relatively unsuccessful & reasons behind
5. Solutions to problems
Concepts learnt in each week:
W1— Strategic Leaders
W2 — 5 Forces - e.g. Suppliers
W3 — Value Chain - Resources, Capabilities & Core Competence
W4 — S Generic Business-Level
WS — Attack & Response, Drivers
W6 — Level of Diversification - e.g. Concentration, Conglomerate
W7 — M&A - Reasons & Problems
W8— International Cooperative-Level, International Entry Mode
W9 — Strategic Alliance - Business-Level Cooperative Strategy