In the hotel industry the concept of critical thinking and strategic management appear to be interrelated and coexist as the same animal.
Critical thinking is that mode of thinking about any subject, content, or problem in which the thinker improves the quality of his or her thinking by skillfully analyzing, assessing, and reconstructing it. Critical thinking is self-directed, self-disciplined, self-monitored, and self-corrective thinking. "The important to budget travel is to approach in advance. When it comes to family trips, globetrotting, well-deserved vacations and/or going to see new destinations we have never been before, the reality of expense and budgeting is generally in the back of our mind. Considering and spending our travel budget properly is a consideration for most families. Minimizing spending and expenses, while still experiencing your vacation to its fullest, is the key to confirmed achievements and fiscal obligation. Your pocketbook and family will thank you! The reasoning behind economizing money while touring is simple: Even if your personal budget is really tight, you can still take a break and enjoy life! Simply put, life is just too short to never step out of the door or leaving the homestead! Also keeping in mind that while traveling, regardless of whether on a funds or not, even the smallest of things can all add op to a large vacation or travel bill!..". It presupposes assent to rigorous standards of excellence and mindful command of their use. It entails effective communication and problem-solving abilities, as well as a commitment to overcome our native egocentrism and sociocentrism (Park.edu, 2010).
The concept of strategic management has evolved from the ancient Greek word strategia meaning the art of the general. The practice of strategic management requires organization heads to allocate resources, establish policies and procedures, assign responsibilities, and give direction to the organization by employing a consistent pattern of decisions that reflect an overall mission and set of goals. The pattern of the decision made in guiding the organization toward the successful completion of its goals is influenced by events occurring in the general and task environments of the organization. The strategic management process can be applied to all types of organizations and at all levels of those organizations. For example, it can be applied to individual hospitality firms, such as restaurants, or business units, such as a chain of hotels, or to entire corporations that have many business units. The purpose of the strategic management process at any organizational level is to assist the organizations leaders in helping their organization to adapt continually to its changing environment so that it can enjoy a strong, growing, and long-lasting life.
Three basic elements comprise strategic management: the process of formulating a strategy, deciding upon the strategy to follow, and implementing that strategy. Although each of these elements is often treated separately in the literature on strategy, it is important to recognize that a synergistic relationship exists among the organizational leaders that must develop all three elements for strategic management to be effective.
An organizations strategy can be formulated in a variety of ways. The means used most often depend on the type of organization and the leadership within that organization. In general, the elements most often included in the process are environmental analysis, analysis of the organizations strengths and weaknesses, strategic gap analysis, mission statement development, strategic alternatives analysis, evaluation and selection of strategy, and monitoring and follow-up.
Environmental analysis is an assessment of the organizations specific competitive environment, as well as the activities taking place in the more general environment effecting all business in an industry. The purpose of this process is to identify the threats and opportunities that present themselves to the organization over the planning horizon under consideration. Analysis of the organizations strengths and weaknesses is a through look at the internal resources of the organization for the purpose of determining what the organization does well and what problems it needs to address. Strategic gap analusis is a review of the organizations strengths and weaknesses in the context of the threats and opportunities presented by the general and task environment. Mission statement development is the preparation of a statement defining what the organization is and where it is going. The mission statement identifies the target audience for which the organization will provide goods and services and clarifies how these will be provided and the standards by which they will be judged. This statement is the result of the analysis of the organizations environment, its strengths and weaknesses, and the strategic gap. Strategic alternatives analysis is the identification of the types of possible strategies that can be used to achieve the mission of the organization. Evaluation and selection of strategy is a thorough evaluation of the possible strategies available to the organization and the selection of the one(s) that will best fit its needs. Monitoring and follow-up is the establishment of expectations and standards to control the process of strategy implementation and to determine the effectiveness of the chosen strategy (Unit 11, 2009).
Each of these elements in the strategy formulation process must be carefully studied and analyzed if an organization is to realize its full potential. To achieve the most effective strategy, those formulating strategy must believe that it will assist the organization in achieving a favorable co alignment with its environment. They must believe that the potential exists for an optimal pattern of fit between the environment and the organizations strategy. Research evidence suggests that hospitality organizations that use active in environmental analysis and use that analysis to achieve a co alignment with their environment do perform better.
An organization that actively participates in environmental analysis must have established systems designed to monitor the dynamics and uncertainties that exist in the general and task environment in which it conducts its day-to-day business. The general environment consists of those broad forces affecting society, including trends in technology, politics, economics, and socicultural activities. The task environment refers to those forces that affect and industry, such as change in the supply of resources, shifts in competitor behaviors, specific industry legislation and regulation, and changes taking place in the organizations customer market.
The most difficult part of environmental analysis involves assessing if and how events occurring in the environment will affect the firm and the probabilities associated with various impacts. To be successful, the organization must develop a network of reliable sources of information about the environment that have a history of making valid assessments of environmental impact. Even with the best of sources and probabilistic estimates, however, it is still impossible to predict how environmental events will exactly effect the organization. Those organizations that do a better job of meshing strategy with environment tend to perform better than those who do not.
Several models have been developed to guide the organizational leader through the various elements presented above. The degree of detail ultimately chosen to guide the organization through this process is totally dependent upon the organizations situation, its leader, its goals, and the time frame in which action must be taken. In the hotel industry the concept of critical thinking and strategic management appear to be interrelated and coexist as the same animal. The practice of strategic management requires organization heads to allocate resources, establish policies and procedures, assign responsibilities, and give direction to the organization by employing a consistent pattern of decisions that reflect an overall mission and set of goals.
References
Park.edu. (2010). Critical Thinking. Retrieved from http://www.park.edu
Unit 11. (2009). Managing Hospitality Operations:Organised Sector. Retrieved from
http://www.ignou.ac.in
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