What are the key success factors for strategy formulation and implementation? Perspectives of managers in the hotel industry

Köseoglu M. A., Altin M., Chan E., ALADAĞ Ö. F.

International Journal of Hospitality Management, cilt.89, 2020 (SSCI) identifier identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 89
  • Basım Tarihi: 2020
  • Doi Numarası: 10.1016/j.ijhm.2020.102574
  • Dergi Adı: International Journal of Hospitality Management
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, CAB Abstracts, Hospitality & Tourism Complete, Hospitality & Tourism Index, Psycinfo, Veterinary Science Database
  • Anahtar Kelimeler: Strategy formulation, Strategy implementation, Hotel, Top managers, Success factors, RESOURCE-BASED VIEW, MIDDLE MANAGERS, HOSPITALITY, CONSENSUS, EVOLUTION, PERFORMANCE, INNOVATION, FOCUS
  • Abdullah Gül Üniversitesi Adresli: Evet

Özet

This study investigates how hotel managers describe strategy and identify key success factors for its formulation and implementation. The study analyzes qualitative data collected through semi-structured interviews with property level top managers of hotels in Hong Kong. The findings show that hotel managers prioritize competition analysis and macro-environmental conditions over internal characteristics such as teamwork in strategy formulation. In the implementation phase, however, internal considerations such as employee involvement and strategic consensus are given prominence. This study provides a significant contribution by examining how top level practitioners in the industry interpret success factors in their strategic management efforts, and it highlights a largely neglected area in the hospitality and tourism management literature.