SECTION ONE STRATEGY, ALIGNMENT, AND ADDING VALUE -- Strategic Management in the Hospitality Industry -- Overview of the Concept of Strategic Management -- The Coalignment Model -- Leadership and Strategy: Inseparable Concepts -- Strategy in the Service Industry -- The Importance of Strategy in the Hospitality Industry -- Challenges Facing Tomorrow's Hospitality Manager -- Summary -- Case Study -- Thinking Strategically: A Working Model -- Introduction -- Thinking Strategically -- Corporate, Business, and Functional Strategies -- Major Concepts of Strategy Making and the Coalignment Model -- Summary -- Case Study

SECTION TWO ENVIRONMENTAL SCANNING AND COMPETITIVE INTELLIGENCE -- Environmental Assessment: Conceptual Tools -- Competing for the Future -- Some Basic Concepts About the Environment -- Classifications of the Environment -- The Importance of Concepts -- Summary -- Case Study -- Environmental Scanning: Identifying Forces -- Driving Change -- Scanning the Business Environment -- Summary -- Case Study -- Environmental Assessment: Scanning the Remote -- Environment -- How Are Opportunities and Threats Recognized by Managers? -- Scanning the Remote Environment -- Theory Building with Value Drivers -- Summary -- Appendix -- Case Study -- Environmental Assessment: Scanning the Environment -- The Domain -- The Customer/The Demand Curve as a Domain Parameter -- The Relationships Between the Customer and Forces in the Remote -- The Competitor-Industry Analysis -- Buying Groups -- Suppliers -- Regulators -- Potential Competitors and Substitute Products -- Summary -- Case Study

SECTION THREE INVESTING IN COMPETITIVE METHODS: THE VALUE -- Proposition -- Investing in Competitive Methods -- Making the Right Investments -- What Is Capital? -- From Balance Sheet to Cash Flows: Adding Value with Competitive -- Methods -- Cash Flows and the Pillars of Value -- Summary -- Case Study -- Choosing Competitive Methods: Portfolios of Products and Services -- Investing in Opportunity: The Choice of Competitive Methods -- Defining the Competitive Method and Related Concepts -- Unique Bundles of Products and Services -- The Life Cycle of Industries, Organizations, and Competitive Methods -- The Process of Choosing and Evaluation of Competitive Methods -- Investment Resource Limitations Must Be Considered -- Summary -- Case Study

SECTION FOUR CORE COMPETENCIES AND RESOURCE ALLOCATION -- Analyzing Core Competencies -- A Framework for Assessing Firm Structure -- Frameworks for the Analysis of Core Competencies -- Functional Framework -- Other Competency Frameworks -- Summary -- Appendix -- Case Study -- Strategy Alignment and Implementation: Realizing -- Intended Strategy -- The Importance of Alignment -- The Importance of Strong Linkages -- Analyzing the Match/Aligning CMs and CCs -- Aligning Competitive Methods with Core Competencies: The Essence of Firm Structure -- Strategy Implementation Defined -- Plan the Work and Work the Plan -- The Implementation Model -- Implementation Requires Effective Internal Processes -- Summary -- Case Study -- Leadership and Strategy: Challenges for Tomorrow's -- Manager -- Leadership Will Be Different -- The Quest for Leadership -- Leadership Defined -- Transferring Vision into Action: Getting Everyone Behind the Vision -- What Capabilities Will the Leader of Tomorrow Have to Possess? -- Leadership and Strategy -- Case Study