ITM 707 Strategy - Management and Acquisition:3 Key Strategic Issues
Questions:
1. Situation Analysis
What are 3 key strategic issues (external environment) or sources/potential sources of competitive advantage (internal environment) the company/ destination is facing? Identify the type and the issue.
2. Strategic Direction
What is the company’s/destination’s strategic direction?
Answers:
1.
- The strong Canadian dollar is having detrimental impacts on Alberta’s travel sector. Such is the case as the local tourists are considering it an opportunity to explore foreign regions
– such as the United States and the United Kingdom – that were quite expensive when the currency was weaker (Travel Alberta 5). This trend reflects Enz’s sentiments regarding the influence a country’s economy has on fundamental business determinants including consumer demand (47). When placed into perspective, the strengthening Canadian dollar has reduced the cost of outbound travel, thus enhancing the attractiveness of foreign destinations. - Canada is a mature travel destination. Such a factor has negative impacts on its industrial growth since global travelers prefer exploring new regions and experiences. In its informatory book, Travel Alberta (5) asserts that modern tourists visit destinations such as Africa, Southeast Asia, Middle East, Eastern Europe, and Turkey. At this point, it appears wise to reflect on Enz’s definition of culture as an evolving set of beliefs, attitudes, and values (42). Understanding what the term culture entails is vital in enhancing one’s grasp of its impact on societal trends. As far as this issue is concerned, the tourists’ attitudes have changed in favor of less visited destinations.
- Regardless of Canada’s (especially Alberta) rich ecosystem, the destination is facing fierce competition from other regions. This factor is allegedly among the reasons behind the industrial decline (Travel Alberta 5). When reading Enz’s Hospitality Strategic Management, it becomes apparent that competition is an intrinsic feature of business (39). An organization must understand how it will manage such stakeholders so as to foster and maintain dominance.
2.
Alberta intends to leverage the promising market opportunities while increasing inbound tourism from its traditional markets. Such a concept demonstrates the destination’s dedication to its customers, and the fundamentals of corporate sustainability. This strategic direction is deeply embedded on fundamental concepts ‘customer satisfaction’ and ‘sustainability’ (Enz 180).
Work Cited
Enz, Cathy, A. Hospitality Strategic Management: Concepts and Cases. Hoboken, NJ: John Wiley & Sons Inc. 2015
Travel Alberta. Business Strategy 2011-2014. Alberta, Canada: Travel Alberta. 2011
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