THS7204 Competitiveness, Strategy, and Risk Management Assignment Help
Question
THS7204: This assignment, part of the Postgraduate in Strategy and Risk Management in Tourism, titled Competitiveness, Strategy, and Risk Management Summary, focused on the prescriptive planning approach and strategic thinking in addressing challenges encountered by tourism organizations. The assignment required a detailed case study report on a current or emerging crisis faced by a specific organization, along with proposed strategies for addressing the challenges.
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Solution:
Introduction:
Our team of experts specializing in THS7204 Competitiveness, Strategy, and Risk Management Summary Assignment Help is meticulously analyzed and aimed at understanding the business challenges faced by the hotel and the competitive landscape it operates.
This report delves into the challenges faced by Novotel Brisbane South Bank from short-term rental accommodations and proposes strategic recommendations to maintain its competitive edge. By analyzing the organization’s purpose, vision, and mission alongside external operating environments, this report aims to provide insights into effective crisis management and strategic planning in the tourism sector.
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Crisis Identification & Impact
The experts identified the crisis faced by Novotel Brisbane South Bank, primarily stemming from the growing competition posed by short-term rental accommodations like AirBnB and Luxico. They assessed the impact of this crisis on the hotel’s operations.
Resource Auditing
Internal Resources:
The team conducted a thorough audit of the hotel’s internal resources, including its physical assets, human capital, and financial capabilities. They assessed how effectively these resources were utilized in mitigating the crisis and sustaining the hotel’s operations amidst increasing competition.
External Resources:
In addition to internal resources, the experts examined external resources leveraged by Novotel Brisbane South Bank, such as partnerships with local attractions and collaborations with tourism organizations. They evaluated the effectiveness of these external resources in enhancing the hotel’s competitive position and addressing the crisis at hand.
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Environmental Scanning
STEEP Analysis
The experts conducted a STEEP analysis to assess the macro-environmental factors influencing Novotel Brisbane South Bank’s operations. They examined socio-cultural, technological, economic, environmental, and political factors to identify potential opportunities and threats affecting the hotel’s competitiveness.
SWOT Analysis
Furthermore, the team performed a SWOT analysis to evaluate the hotel’s internal strengths and weaknesses, as well as external opportunities and threats. This analysis provided valuable insights into the hotel’s strategic position and helped identify areas for improvement and potential avenues for growth.
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Recommendations and Conclusion:
Flexible Pricing Strategies:
Based on their analysis, the experts recommended the implementation of flexible pricing strategies as a strategic response to the crisis. By adjusting pricing strategies to remain competitive with short-term rentals while maintaining profitability, Novotel Brisbane South Bank can effectively navigate the challenges posed by the crisis and sustain its operations in the long term.
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