Table of Contents

The environment - essential skills for the hospitality manager; Industry critical success factors and their importance strategy; The investment process and managing strategy for the multinational; Hotel investment risk: What are the chances?; Determining the cost of capital; Real estate investments as a strategic choice; Industry wide competitive methods - the key construct of strategy, industry practices; Valuing; Intangibles as competitive methods; Pricing - strategic choices in creating value; Strategic alliances - strategic choices; Resource allocation decisions and organizational structure; Human resource management - high performance work practice systems as core competencies; The role of technology in organizational structure and as an important core competency; Strategy execution and implementation - realizing strategy through operations; The role of management information systems in executing strategy; Leadership - the critical competency in executing strategy; The organizational climate and its role in executing strategy; Communication and its role in executing strategy; The importance of alignment and how alignment is determined; Innovation and strategy implementation - the key challenge in today's competitive atmosphere; The role of change in executing strategy; Translating strategic direction into executical plans; Strategy models and their application to the developing world; Strategy models and their application to small and medium sized enterprises; Strategy models and their application to multinunit firms.