The paper "Strategic Management at Riverside Hotel South Bank " is a perfect example of a management research proposal. The Riverside Hotel South Bank is situated in South Bank, Brisbane, the heart of Brisbane’ s entertainment, cultural and recreation scene. The hotel, a 4-star hotel targets local and international tourists, as well as individual stay for leisure and business. Its proximity to Brisbane exhibition and convention center, museum, lyric theaters, Queensland performing arts complex, art galleries as well as a range of coffee shops, restaurants and bars add to its ideal location for providing hotel motel accommodation.
The hotel also provides other services including conferencing facilities and facilities for business functions such as product launches, training sessions, business meetings, birthday parties, and even wedding receptions. Riverside Hotel South Bank further provides facilities for cocktail parties, trade shows, exhibits, banquets, and presentations. The hotel offers discounted rates for pricing of their single, twin and double rooms. It runs an in-house restaurant that features Australia contemporary cuisine. The hotel was a recipient of the 2004 and the 2006 excellence award from hotel accommodation association. The report proposal aims to determine the gaps and opportunities that face the hotel and come up with strategies to utilize new opportunities and fill in the gaps.
Effective strategy formulation requires strategic planning, which involves a clear definition of the businesses objectives and internal and external analysis of the business situation and the impact of the business situation on the choice of strategy. Method An environmental scan including an external analysis was used to identify various attributes that had an effect on the competitiveness of the business such as the firm’ s external macro environment; determined using PEST analysis and analysis of the external microenvironment using Porter’ s five forces framework to perform an industry analysis including identification of entry barriers, customers, and industry rival and substitute products.
A SWOT analysis was used to generate the profile of the internal strengths and weaknesses, and external threats and opportunities crucial in the formulation of viable strategies. The process of strategy formulation involved matching attributes generated by various tools used in environmental scan such as strengths to the available opportunities while addressing the gaps including external threats and internal weaknesses to attain a competitive advantage over the rivals.
Finally, implementation, means of evaluation, feasibility and justification of how and why the chosen strategy will provide the hotel with a sustained competitive advantage for the choice of strategy are provided and supported by theory and data analysis. Results of an environmental scan External Analysis Used PEST analysis to identify the external macro-environment facing the hotel hospitality industry. Used Porter five analyses to identify the external microenvironment facing the hotel industry. The results of the Environmental scan identified external macro-environment through an external Political, Environmental, Social, and Technological (PEST) analysis. PEST Analysis Political Possible changes in laws regulating businesses such as the opening of new business. Legal consideration in opening a business in new markets such as requirements for partial domestic ownership in foreign businesses. Economic Economic downturns in many world economies resulting in reduced tourism Unfavorable exchange rate - High cost of the Australians currency against other major world currencies increasing the costs for foreign tourism. Low levels of available credit due to the economic downturn.
Australian Hotels Association (AHA). Retrieved from http://www.aha.org.au/AHA%20Modern%20Hospitality%20Award%20Overview.pdf
Porter, Michael E., Competitive strategy Techniques for Analyzing Industries and Competitors
John Middleton, The ultimate strategy library The 50 Most Influential Strategic Ideas of All Time
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