After reading this chapter, you should be able to

2.1   Distinguish between the three generic strategies for positioning products and services.

2.2   Explain how the elements of the organizational planning cycle result in the establishment of the hospitality organization’s overall strategic plan and service strategy.

2.3   Identify the key external and internal factors that must be examined for successful planning.

2.4   Recognize the quantitative and qualitative tools used for forecasting in the hospitality environment—external and internal.

2.5   Describe the process to determine core competencies.

2.6   Describe the importance of a mission and vision statement in focusing the strategic plan on the best way to fit core competencies with strategic premises.

2.7   State the importance of including the key drivers of guest satisfaction in the planning process.

2.8   Describe a planning model, showing how components are tied together and action plans are developed.

2.9   Recognize the value added to the planning process by including those affected by the plans.

2.10   Recall that while plans are necessary, organizations must be ready and capable of change.