Essay: Strategic Planning- Tourism

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SAMPLE EXCERPT:

[. . .] There is different data and information available on the tourism history in the Lewis-Clark Valley and the steps taken by government and officials in order to come up with effective and efficient strategic plan for the tourism industry of this Valley. A detailed analysis of the literature review is done in order to derive the results and findings and provide appropriate recommendations.

strategic management methodologies-tools and techniques applied

Systematic methodologies for performing internal assessment through analyzing strengths and weaknesses of the company and external assessment through the opportunities and threats analysis is critically important for the success of the strategic management process. The EFE Matrix, Competitive Profile Matrix, IFE Matrix and a clear statement of mission provide the basic information needed to formulate competitive strategies successfully. The process of performing internal and external audit provides an opportunity for managers and employees throughout the organization to determine the future of the firm.

Industry Analysis: The External Factor Evaluation (EFE) Matrix

An External Evaluation Matrix (EFE) enable strategies to summarize and evaluate economic, social, cultural, demographic, environmental, political, governmental, legal, technological and competitive information. The five steps involved in developing the matrix are:

1. Listing of the key external factors. These key external factors are identified in the external audit process. The list comprises of 10 to 20 factors including both opportunities and threats. The opportunities are list first followed by threats. The opportunities and threats are listed specifically and precisely using percentages, ratios and comparative numbers where required.

2. Weights assign to each factor. The weights are assigned to each factor from least important 0.0 to most important 1.0. The weights show relative importance of that factor to be successful in the industry. The sum of all the weights assigned should be equal to 1.0.

3. Rating from 1-4 assigned to each critical success factor. This rating indicates how effectively the firm's current strategies respond to the factor. The qualitative measure of these ratings is 4 = the response is superior, 3 = the response is above average, 2 = the response is average and 1 = the response is poor. The difference between these rating and weights allotment is that ratings are company based whereas the weights are industry based.

4. Weighted score is determined by multiplying each factor weights with the rating.

5. Total weighted score of the organization in the end is determined by summing the weighted scores for each variable.

Application of the EFE Matrix on Lewis-Clark Valley Strategic management process

In the following table the valley opportunities and strengths are discussed and applied in the EFE Matrix to evaluate how far the project is capitalizing on its opportunities and overcoming its threats.

Table 1- An External Factor Evaluation Matrix for Lewis-Clark Valley Tourism Program.

KEY EXTERNAL FACTORS

WEIGHT

RATING

WEIGHTED SCORE

Opportunities

1. Sporting events in existing facilities like water sports, swim meets triathlon, bike races, softball/soccer tournaments and equestrian.

2. New business development in the area of waterfront development.

3. Main street programs focused to enhance the liveliness of surrounding districts.

4. Systematic and organized transportation system through air services, water taxis and public transit.

5. Tourism interlinked with other economic development efforts like market Valley business opportunities and support systems to visitors.

6. Tourism of the valley managed through single tourism bureau.

Threats:

1. Federal policies and management discouraging funds for Hell Canyon, rivers, levees and national forest thus imposed with more restrictions.

2. Increased competition from other destinations.

3. Lack of marketing. Lack of aggressive promotion of the region.

4. Unavailability of workforce and necessary skills required.

5. Aging population resists change and discourages tourism.

0.15

0.05

0.05

0.10

0.10

0.05

0.10

0.10

0.15

0.10

0.05

3

2

1

3

3

2

1

3

2

2

1

0.45

0.1

0.05

0.3

0.3

0.1

0.1

0.3

0.3

0.2

0.05

TOTAL

1.00

2.25

Interpretation of Scores

Irrespective of the number of key opportunities and threats listed in the EFE matrix, the highest possible total weighted score for any project or organization is 4.0 and the lowest possible score is 1.0. The average total weighted score is 2.5. The total weighted score of Lewis-Clark Valley tourism program is indicated to be 2.25 which is below the average score. This shows that the valley efforts to pursue strategies that capitalize on external opportunities and avoid threats. It is worth to notify here that thorough understanding of the factors being used in EFE Matrix is more important than the actual weights and ratings assigned.

Internal Assessment of Lewis-Clark Valley Tourism Strategy

Strategic management is very interactive process that requires effective coordination among various functional areas of the organization namely management, marketing, finance & accounting, production & operation, research & development and computer information systems. However the success of the strategic management is greatly influenced by the strategist but it also required leaders and governing body from all these functional areas to coordinate and cooperate among themselves to produce ideas and share information. Organization's success greatly depends on the effective coordination and understanding among managers from all functional areas. Knowledge sharing and building strong relationship is crucially important in internal assessment of the organization. These parameters derive the objectives and strategies.

Basic functions performed in the process of strategic management are all derived from the functions of management distributed at various levels. The five basic activities: planning, organizing, motivating, staffing and controlling are allotted on the different levels of strategic management. The following chart shows the management activities at varying levels of strategic management process.

Chart 1: The Functions of Management Integrated with Lewis-Clark Strategic process model

Controlling

To ensure that all actual results are consistent with the planned results.

Staffing

Getting the best people for the right type of job and looking after their development and compensation.

Motivating

Activities are directed towards the attainment of common goals and objectives. Employee morals are raised and organizational change takes place.

Organizing

It includes activities that structure the managerial task. Areas include organizational design, job specialization, job description, job specification and span of control.

Planning

It consists of all the managerial activities required for the preparation of the future. Task includes forecasting, establishing objectives, devising strategies, developing policies and setting goals.

Strategic Implementation of Lewis-Clark Valley

The Lewis-Clark Valley plans to increase tourism development and marketing through creation of a tourism strategic plan, resulting in job creation and capital investment. Spending on tourism supports goods, services, facilities and transportation that benefits residents of the Valley and surrounding region. Tourism promotion raises the quality of life and also helps attract other types of business development to the Valley. The action plan in support of the tourism promotion services adopted by the Lewis-Clark valley is:

a) Establishment of single Valley Tourism Bureau. This committee formation helps in the promotion of Valley strategically and effectively for the marketing of the tourist spots and activities. Easy accessibility and contact access will help the Valley to attract great number of tourist throughout the season. Technically sound computer management system for the data entry and management will help in booking of the tourist resorts and providing them with guidance needed.

b) Increasing promotional strategies. Emphasis made on the marketing efforts to attract tourist in the off-peak season thus capturing the specialized niche of the market and increasing the market share. This will also not allow tourist to hunt for other possible options which can be the regions closed competitor. Attraction of the tourist through recreational activities, discount on the hotels booking, ease on the transportation facilities and booking of the air fare will make customer more satisfied.

c) Encourage business expansion and development of new business plans by availing the existing opportunities of recreational services, sporting events introductions on the large scale, parks and natural beauty avenues be promoted. Introduction and promotion of the cultural heritage, food, goods, apparel and other traditional accessories be promoted to increase the regions popularity. Promotional giveaways are also designed in the same manner.

d) Administer natural, cultural and historic resources sustainably: fisheries restoration, reduction of smell and maintenance of hygiene, historic preservation and redevelopment, Valley history interpretation, use of locally made products, and enhanced national and international designation of Hells Canyon. The Valley's impressive setting and outdoor way of life are dependent on clean water, clean air, and abundant natural resources. Continued efforts to restore habitat, and to manage resources for the long-term, will ensure a high quality of life and healthy economy for generations to come.

e) Effective teams are built to cooperate across borders, jurisdictions and organizations to implement the Strategic Plan. Cross-border opposition and political differences reduce the competitiveness of the Valley both as a tourism destination and a location for new business development. Leadership that is dedicated to proactive measures, and working together, will definitely create a win-win situation for all Valley residents and businesses.

Strengths and Weaknesses of Lewis-Clark Valley

The internal assessment of the Lewis-Clark Valley is conducted by the… [END OF PREVIEW]

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Strategic Planning- Tourism.  (2011, July 16).  Retrieved May 25, 2019, from https://www.essaytown.com/subjects/paper/strategic-planning-tourism/9832616

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"Strategic Planning- Tourism."  Essaytown.com.  July 16, 2011.  Accessed May 25, 2019.
https://www.essaytown.com/subjects/paper/strategic-planning-tourism/9832616.