# data[].attributes.body
1.China
2.US
3.Germany

# data[].attributes.body
-Leisure travel most.
-Middle East- visiting friends &family, health or religious (Israel)
-Southern mediteranean destinations led growth-Greece, Portugal,Croatia,Turkey
-4 of 5 tourists travel within their own region

# data[].attributes.body
1.Asia and the Pacific
2.Europe
3.America

# data[].attributes.body
1.US
2.Spain
3.France

# data[].attributes.body
1.France
2.Spain
3. US

# data[].attributes.headline
1.7 trillion exports from international tourism

# data[].attributes.subject
1.7 trillion exports from international tourism

# data[].attributes.body
-1.5 trillion receipts in destination
-256 billion passenger transport

# data[].attributes.body
-Travel to change- quest for authenticy and transformation
-Travel to show- "instagramable" moments, experiences and destinations
-Pursuit of a healthy life- walking, wellness and sports tourism
-Rising awarness on sustainability- zero plastic and climate change

# data[].attributes.headline
Digital technologies are shaping traveler's experience

# data[].attributes.subject
Digital technologies are shaping traveler's experience

# data[].attributes.body
-offer hyper-personalized customer experience and improve business performance
-evisas and visa on arrival

# data[].attributes.body
Asia and Pacific had the highst numbers of tourists and revenues
Strong demand for air travel

# data[].attributes.headline
1.4 Billion total international tourists

# data[].attributes.subject
1.4 Billion total international tourists

# data[].attributes.body
Revenues from visitor spending have grown faster than the world economy

# data[].attributes.body
-Training
-Communication
-Planning
-Participation and involvement

# data[].attributes.body
-Lack of poor communication, resourcesm coordination, support, technical difficulties

# data[].attributes.body
Whether the new strategy has been implemented according to the plan.

# data[].attributes.body
Communication and operational plans are key to monitoring the process and providing feedback about its progress

# data[].attributes.body
Operating plans, training programs, communication materials

# data[].attributes.body
The recruitment for relevant staff for the new strategy implementation

# data[].attributes.body
Securing and allocating financial resources for the new strategy.

# data[].attributes.body
Preparing and planning implementation activities. Participation and feedback from different levels.

# data[].attributes.body
Key issues to be considered. Level of the support and backing from the CEO to the new strategy unit is completed

# data[].attributes.body
Organizational Culture
-The impact of organizational culture on communication, coordination, and cooperation between different management and functional areas.

# data[].attributes.body
Organizational Structure
-The potential changes in duties, roles, decision-making.
-Powerful groups toward this new strategy

# data[].attributes.body
The new strategy should be appropiate to the market conditions, trends, and developments in the external environment.

# data[].attributes.body
The new strategy should be consistent with the overall strategies direction of the company. Participation from all levels of management is essential.

# data[].attributes.body
Communication
Organizational Structures
Leadership
Organizational Culture
Uncertanity in the external inv.
Resources
Strategy Initiation
People
Outcomes
Control
Operational Planning

# data[].attributes.body
Their development should be seen as a chronological evolution of strategic management literature as scholars have advocated new approaches in order to eliminate the limitations of previous views.

# data[].attributes.body
-"Butterfly effekt"- any small changes and developments can have major impacts on the organization.
-This approach suggests that companies should continuously question their vision, mision and goals.

# data[].attributes.body
-One approach may be more dominant in one stage whereas other approaches may be more apperent in later stages.
All managers should participate in strategy formation

# data[].attributes.body
-"It all depends on situation"
-Contingencies- a possible event or circumstance-in resources, environment, technology, people how they interract.

# data[].attributes.body
Analysis- PESTEL and SWOT
Strategy Formulation
Strategy Implementation
Control Monitoring

# data[].attributes.body
Strategy Formulation-generating strategic options for evaluation and seeking the best option.
Strategy Implementation- how to put a formulated strategy into action with limited time and resources.

# data[].attributes.body
Anthropology- scientific study of humans, human behaviour an societies in the past and present.
Economics. History. Psychology

# data[].attributes.headline
Corporate level strategy of existing units

# data[].attributes.subject
Corporate level strategy of existing units

# data[].attributes.body
1.Ethnocentric- home-country oriented
2. Polycentric- host-country oriented
3. Regiocentric- Regionally oriented
4. Geocentric- world oriented

# data[].attributes.headline
Creating and sustaining the multi-business advantage

# data[].attributes.subject
Creating and sustaining the multi-business advantage

# data[].attributes.body
Develop a corporate strategy by identifying an existing portofolio of business units in order to find ways to ensure the competitive advantage of existing units.

# data[].attributes.body
Encourage collective learning eithin the corporation, especially how to coordinate diverse production skills and integrate multiple streams of technology,

# data[].attributes.body
The firm makes standarlized products and services. Control of strategic decisions, resources, and information is tight.

# data[].attributes.body
Decentralized federation of local companies liked by a web of personal controls.

# data[].attributes.body
Coordinate federation of local companies controlled by a company team.
Transfer knowledge to companies that are less advanced.

# data[].attributes.body
-Reduce costs, increase profit
-Innovate and stay relevant
-Satisfy shareholders and stakeholders

# data[].attributes.body
-Select criteria for each product
-Select the key factors needed for succes in each product.
-Plot each product line current position on a matrix.

# data[].attributes.body
BCG Matrix

# data[].attributes.body
Overall approach to gaining a competitive advantage by operating in several business simultaneously.

# data[].attributes.body
Face different task environments in domestic and international market.
Innovation

# data[].attributes.body
A product of resources and capability. Can combine to create unique advantage.

# data[].attributes.body
The demand falls.
Tangible resources. physical, financial
Intangible resources- operating, technological

# data[].attributes.body
-Extend their products in the target markets.
-Heterogenous resources.

# data[].attributes.body
When supply catched demand, firms start to compete direct with each other. Price based competitors.

# data[].attributes.body
Increase their share while penetrating the market as quick as possible using strategies. Expand

# data[].attributes.body
Investing to built competencies in tapping a new product service market. Take risk

# data[].attributes.body
Introductory, grouth, shakeout, maturity, decline

# data[].attributes.body
2 types
-Cost focus- seeking a cost advantage in the market segment
-Differantiation focus: offer superior quality products

# data[].attributes.body
-Providing unique products
-Buyer loyalty

# data[].attributes.body
-Maintaining a low cost position.
-Target the product and services to customer groups

# data[].attributes.body
-Variety of products and services.
-Targeting customer groups based on their needs.
-Identify customers who could be accessed differently

# data[].attributes.body
-Perform activities different than rivals do.
-Outside in approach. Outside perspective
-Inside out approach. Capabilities

# data[].attributes.body
The duration of time that the firm is able to generate above average profit. NB! Plan of strategies

# data[].attributes.body
The above average profits a firm is able to generate from its business operations when compared to its competitors.

# data[].attributes.body
-These strategies enable a firm to develop its market position while being able to create sustainable competitive advantage.

# data[].attributes.body
-Initiators of change
-Can take calculate risk
-Creative and good reflectors

# data[].attributes.body
Ensure that business activities occur in define product markets at acceptable level of risk

# data[].attributes.body
Give basic values, purpose and direction

# data[].attributes.body
-Profit planning systems
-Systems that report social, political and technical business issues.

# data[].attributes.body
Measure outcomes and compare results with preset profit plans and performance goals

# data[].attributes.body
-Functional Structure
-Multidivisional Structure
-Matrix Structure
-Centralized Structure-decision making is centralized at the top
-Decentralized Structure: Minimal hierarchical levels free-flow communication

# data[].attributes.body
-Operational Function
-Marketing Functions
-HR Function
-Finance Functions
-Information Technology

# data[].attributes.body
Who are they?
What do they want?
How are they going to try to get it?

# data[].attributes.body
Internal
=>Strenght
=>Weakness
External
=>Opporunities
=>Threats

# data[].attributes.body
1.Potential Competitors
2.Competitivness among other
3.Buyer's influence
4.Suppliers influence
5.Substitute products (fads, trends)

# data[].attributes.body
Political- Terrorism,War
Economic- Inflation Rate, GDP
Social- Immigration,Emi,
Technological- Technology
Ecological-Sustainable, Green
Legal- Rules, Laws

# data[].attributes.body
-The degree of change over time related to the factors or variables pertaining to the internal and external environments
-The lesser the change, the more static

# data[].attributes.body
-Number of factors or variables that influence the environment
-Less numbers, more stable environment
-More factors, more complex environment

# data[].attributes.body
Uncertanity- difficulty in accurately predicting the occurence of an event.
Liberality- the availability of slack resources and the opportunities for firms to grow.
Munificence- The scope of growth is limited.

# data[].attributes.body
Ensuring that internal resurces and capabilities are aligned with external oportunities. Strategic Fit SWOT

# data[].attributes.body
-Social and physical factors
*the HR component
*organizational functional component (HR, Sales and Management)
*Organizational level component (products, services, goals, companies)

# data[].attributes.body
Lies outside the firm. Trends in macro and micro environments can present opportunities or pose threats.

# data[].attributes.body
-Increased attention
-Descriptive

# data[].attributes.headline
Areas where strategic management can help h&t organizations

# data[].attributes.subject
Areas where strategic management can help h&t organizations

# data[].attributes.body
-Provide a link between external and internal environments
-Give a clear sense of strategic vision and direction
-Develop goals and objectives

# data[].attributes.headline
Impact of Industry Characteristics on Managing H&T firms

# data[].attributes.subject
Impact of Industry Characteristics on Managing H&T firms

# data[].attributes.body
-Developing mission, vision, values, goals and objectives
-SWOT analysis
-Strategic planning practices
-Managing capacity to maximize revenue

# data[].attributes.body
A lot of employees.

# data[].attributes.body
Fixed and variable costs

# data[].attributes.body
Diverseness, variety, parts of things that are very different from each other

# data[].attributes.body
You cannot "testdrive" the product

# data[].attributes.body
The limited time of hospitality products

# data[].attributes.body
Happen at the same time

# data[].attributes.body
The interdependence of hospitality and service offered

# data[].attributes.body
Inseparability, Simultanely, Perishability, Intangible, Heterogenity

# data[].attributes.body
-Independent and flexible
-Less than 250 employees
-80% of H&T

# data[].attributes.body
-Functional area- primary activities
-Size- small, medium, large
-Motive- profit and non profit
-Geographical coverage (Local, Regional, Global)

# data[].attributes.body
-Political conflicts
-Terrorism
-Natural disasters
-Health issues

# data[].attributes.body
Provides 70% of world GDP

# data[].attributes.body
-Sustain its advantage by focusing on efficiencies (HR, Accounting etc.)
-Product quality and customer satisfaction

# data[].attributes.body
SBU- profit center which focuses on product offering and market segment
-Creating competitive advantage in its-product-market domains in each of its SBU

# data[].attributes.body
-What business the firm is in or would like to be in.
-To create value in the business or expand
-Resources and capabilities to create and sustain cometitive advantage.

# data[].attributes.body
Monitors the process and take any corrective actions

# data[].attributes.body
-Setting budgets
-Developing support systems
-Recruiting, hiring and training

# data[].attributes.body
Defining the direction of the firm's futuristic course of actions. Internal and external analysis

# data[].attributes.body
-Choosing an alternative among a set of alternatives based on pros and cons analysis.