Formulating Strategy and Mapping the Competitive Landscape in the Hospitality Industry

Develop a strategic perspective for your firm and create a strategy designed to establish a clear organizational direction.

Description

The most successful hospitality managers and leaders are able to see their properties or companies from a strategic perspective. They use this skill to differentiate themselves from their competition and create value for their customers and for the organization. This course develops these skills by introducing key aspects of strategy formulation with an emphasis on the strategic management process, business direction, and an assessment of the broad external environment. The strategic management process is used as a framework to establish a clear organizational direction and set objectives. Participants use the process to monitor, forecast, and adapt to environmental forces that are difficult or costly to influence.

This course defines and distinguishes strategic decisions from operational decisions and focuses on a deliberate strategy-creating process. Participants develop the skills and techniques necessary to prepare mission and vision statements for their firm, communicate that direction internally, and strategically evaluate trends in the external environment.

Who Should Take This Course?

This course is designed for senior leadership at hotel properties, including current and aspiring GMs and executive team members, and mid-to-senior-level management at corporate offices.

Course Format

All eCornell courses are delivered online and are self-paced. An eCornell instructor leads the online discussions, grades any course projects, and is available to answer specific questions about the course content.

This course contains the following modules:

• Strategy and Strategic Management
• What is strategy?
• Strategy vs. operations
• The strategic management process
• Direction Setting
• Elements of direction setting
• Communicating a direction
• The External Environment
• Analyzing trends
• Strategies and the macro environment

Benefits to the Learner

After completing this course, participants will be able to:

• Formulate a strategic vision and mission for directing their organization
• Communicate their organization’s direction
• Perform an assessment of the general external environment

Authoring Faculty

Cathy A. Enz, Ph.D., Professor

Sponsoring School

Cornell University's School of Hotel Administration

Total Learning Time

Approximately six hours over a period of two weeks.

Certificate Information

This course can be applied toward the following certificate:

• Strategic Hospitality Management