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

Mehmet Ali Köseoglu, Mehmet Altin, Eric Chan, Omer Faruk Aladag

Research output: Journal article publicationJournal articleAcademic researchpeer-review

5 Citations (Scopus)

Abstract

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.

Original languageEnglish
Article number102574
JournalInternational Journal of Hospitality Management
Volume89
DOIs
Publication statusPublished - Aug 2020

Keywords

  • Hotel
  • Strategy formulation
  • Strategy implementation
  • Success factors
  • Top managers

ASJC Scopus subject areas

  • Tourism, Leisure and Hospitality Management
  • Strategy and Management

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