week 6 Strategic plan Essay

Words: 3596
Pages: 15

Strategic Plan
Jaquanda Smith
April 7, 2014
Dr. Hoda Bagdady-Asal

Table of Contents
Executive Summary 3
Company Background 4
Mission, Vision, Values 4
Company Environmental 5
Remote 6
Industry 7
Operating 8
Company Position 11
Company Structure 12
Best Value Disciplines 12
Strategic Choice 12
Strategic Evaluation 13
Implementation Plan 13
Objective Table 14
Strategic Controls 16 Gantt Chart 17
Conclusion 17
References 18
Executive Summary
Organizations incorporate strategic plans to effectively execute goals. The fundamentals of strategic planning entail elements such as, researching, analyzing, implementing, and evaluating. Jay Pritzker founded Hyatt Hotel Corporation in 1957. Hyatt
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SWOT, which is an acronym for strengths, weaknesses, opportunities, and threats of a firm and its environment. Resource based view identifies a firm’s advantages based on assets, skills, capabilities and intangibles. Where as, an external operating environment considers the ability of acquiring resources or successful marketing of goods and services (Pearce & Robinson, 2013). For the basis of this analysis the SWOT analysis will be utilized.
Remote Environment
A remote environment relates to elements beyond the operating environment of a firm. The remote environment considers five elements that may indirectly influence a firm. Economic, social, and political elements consider trends of the market, demographics, religious and ethnic conditions, and legal constraints of an environment in which a firm operates. Technological and ecological elements consider changes in technology, global warming, and pollution. Theses elements highlight potential threats, opportunities, and constraints that a firm should consider during strategic planning (Pearce & Robinson, 2013).
Because Hyatt Regency has stationed itself to cater to meeting planners, business travelers, and leisure guest, its remote environment is pertinent to the firm’s growth. Prior to the acquisition, Hyatt considered Orlando’s stance as a tourist destination resulting from the