Risk Management and Strategic Planning Unit 12 Strategy in Action.

Risk Management and Strategic Planning

Unit 12 Strategy in

Action

Reading

Book ChTribe, J, (2010) Strategy for Tourism, Goodfellow Publishers, Oxford.

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Capon, C. (2008) Understanding Strategic Management, Prentice Hall: Hemel Hempstead.

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Tribe, J. (2005) The Economics of Recreation, Leisure and Tourism, Butterworth Heinemann, Oxford.

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Johnson, G., Scholes, K., and Whittington, R. (2008) Exploring Corporate Strategy, Prentice Hall: Hemel Hempstead.

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Learning Outcomes

After studying this chapter and related materials you should be able to understand:How to prepare a public strategy documentCrisis management strategies

and critically evaluate, explain and apply the above concepts.

Discussion Point

What should a good strategic plan cover?

What kinds of crises affect tourism and what issues of management do they present?

Preparation of a Strategy A a strategy is a master document which

encompasses the main headings of this book and a typical strategy will have the following key parts:Title pagePublication details and contents pageIntroduction / endorsementExecutive summaryStrategic analysisMission and objectivesStrategyStrategic implementationAppendices

Strategic AnalysisA typical format will be:

The external environmentThe Political EnvironmentThe Economic EnvironmentThe Socio-cultural EnvironmentThe Technological EnvironmentThe Competitive Environment

Organisational capabilitiesThe resources and core competences of the

organisationThe performance of the organisationAn evaluation of product and services

SWOT analysis

Mission and Objectives

Nature of Businessdefining the business of the organisationidentifying key strategic business units

Missions and Goalsstatement of mission of organisationobjectives set

Strategy

This part of the document is likely to cover issues such asGeneric type of strategy, e.g.

Price basedDifferentiation basedHybrid

DirectionsMethods

Strategic ImplementationThis final part of the strategy document

will address the two key issues of Organising and resourcingMonitoring change

Crisis Management StrategiesCrisis management is the process by which

an organisation deals with major, extraordinary, sudden and unforeseen events that can pose a grave threat to their existence. E.g. Natural disastersTechnology failuresMalevolence.ConfrontationSkewed management valuesDeception

Crisis Management StrategiesThe six main stages in strategic crisis

management are1. Pre-event stage: Prevention and contingency measures are

put into place.2. Pretrial stage: At this stage the impending crisis is inevitable.3. Emergency stage: The crisis has arrived and main objective is

damage limitation, immediate rescue and clear communications.

4. Short term stage: Restoration of basic functions, utilities and essential services to return to normality.

5. Long term (recovery) stage: Continuation of restoration with attention to non-priority actions. Lessons learned incorporated into revised prevention and contingency strategies.

6. Resolution Stage: Routine strategic management replaces crisis management.

Task 4

Task 4: Prepare key tasks for successful implementation of your strategy

Or if video and Wi-Fi working:Kenya's tourism revenues rose 32 percent to 98

billion shillings in 2011 after the country attracted visitors from new markets, but the euro zone crisis is expected to curb growth in 2012. Listen to the interview with Kenyan Tourism minister, Najib Balala and summarise the strategic issues discussed.

http://www.youtube.com/watch?v=YnP1ePefcTU

Summing Up

Any Questions?

Risk Management and Strategic Planning

Unit 12 Strategy in

Action The End