Context strategic thinking helps firms the cutting edge its industry

Primary Goal:
Explain and discuss strategic elements necessary for business leaders of hospitality and tourism organizations to posses for them to be successful in sustaining a business. (LO3 & 4)

Context:
Strategic thinking helps firms be on the cutting edge in its industry. Organizational leaders can learn a great deal from studying the strategies of competitors. Clearly, an organization can learn things from competitors that will lead to improvements in performance such as production and service. However, by the time a firm develops the skills and acquires the resources that are necessary to imitate industry leaders, those leaders probably will have moved on to new ideas and strategies. Consequently, industry leaders break out of traditional mind ‐ sets and defy widely accepted industry practices.

3. How is chess relevant to the study of strategic management? What other games might help teach strategic thinking? (20 marks)

Research and References:
 Use and reference only the course textbook (5 marks)
 Indicate page numbers (URL links are acceptable if no page number is available) from the textbook to support your answers (5 marks)