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Latest Trends and New Tools Being Used in Strategic Management
73-85Views:627In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively in an ever-changing world. This paper reveals and describes five new trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the new trends and tools to be discussed in this paper are as follows: increased need to follow a strategic planning model; increased need to develop quality vision and mission statements; a new improved method for incorporating SWOT analysis into practice. Utilizing two matrices one internal and one external to provide a less biased way to access the current strategy fit with conditions facing the firm. Explain the use of a decision matrix commonly called the QSPM (Quantitative Strategic Planning Matrix) for assessing the relative attractiveness of various strategies being considered for implementation. The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.
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Practical Application of Methods in Strategy-Based Analyzes
59-72Views:429Increasing environmental volatility is a growing challenge for companies and businesses. The speed of economic events is changing, and the risk of uncertainty is increasing, requiring business to take a new approach to strategic planning. In the design and forming of their strategy, both the factors of the external and internal environment and the analysis of their competitors can be based on well-chosen methods. We consider the review of these methods, their application in planning and educational practice. The aim of our work, in which we present the methods that underpin the strategy applied in both domestic and international practice. The analysis of the external environment illustrates the construction and applicability of an external factor analysis matrix based on traditional PEST analysis and the Porter's five-factor model. In the case of internal factor analysis matrix, we focus on the approach of method choice, and on the applicable methods, the importance of the resource-based approach, the analysis of key factors and the Porter value chain analysis matrix. The third pillar of the analysis that underpins the strategy is the matrix-based assessment of competitors. The applicability of the methods depends on the form of the enterprise, the field of activity and the nature of its activities, which is complicated by the emergence of new economic spheres (e.g.: sharing) and transformed power relations.
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Role of Grants for Tourism Purposes in Development of the Northern Great Plain Region
365-376Views:152Aim of the treatise is, based on main macroeconomic indicators, to present the development of the Northern Great Plain region and the amount of EU grants received, including the ones for tourism purposes, as well as to examine the effects of grants. Based on the data, it can be concluded the region received significant grants during the years 2007-2013; it is in last place in view of the economic development but has achieved better performance in several areas. It is difficult to examine the accommodation and food service national economic sector independently: in one respect, it develops by the combined impact of several other areas, on the other hand, the tourism-related developments become usable for other sectors as well, new enterprises and investments are launched, at the same time, not only the companies’ but the municipalities’ revenues from tourism are increasing. Based on the statistical data, attention will be drawn to the fact that the outcome of developments is just moderate in the area of catering and tourism in the region and has a different rate by county.
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Monitoring of the Corporate Competitiveness Effect of Tourism Support
603-616Views:150Today the tourism is without doubt strategic of importance in the world. In Hungary's case can be related, that contributes to the performance of the economy largely, and its role is very important in the employment, too. Because of national economic weight it is suitable to analysing, but for the sake of complexity the consideration of economic performance, competitiveness exceptionally complicated task. The two sections are attached most directly, the performace is measurable through the accomodation service and hospitality. Present study does not intend to measure the performance of whole tourism section, the aim is from a corporate side, measure the corporate competitiveness from accountancy datas, the examination of part. The object of the actual examination is monitoring of the profitability effect of tourism supports through the example of 8 companies.
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Monitoring of the Profitability Effect of Tourism Supports in the North Great Plain Region
165-175Views:90Today the tourism is one of the largest and the most dynamically progressive sector, monitoring of its performance important research area. The sector and its companies' performance are related tightly, a present study deals with the corporate performance test. Its accurate goal is the monitoring of the profitability effect of 2007-2013.yearly budgetary periods tourism supports in the North Great Plain Region through the example of two of a region's companies. The basis of the examination the statistical, corporate data which can be reached publicly and data from the questionnaire filled by the companies and data from their competition registrar.
