The adoption of management

The adoption of management

The adoption of management is fundamental towards facilitating the attainment of organizational goals. Such strategic planning enables organizations to adopt an action plan, which is vital to allow it to achieve its business goals. The need to choose strategic management is associable with the increased research in the field of management. In the hospitality industry, strategic management aims at enabling the management team to adopt faultless goals, which facilitates the achievement of long-term objectives. Various theoretical frameworks articulate some of the primary managerial considerations towards enhancing the acquisition of long-term objectives. The co-alignment theory formulates some of the fundamental concepts to enhance goal acquisition. The paper reflects on the essentiality of the ideas under the co-alignment approach in facilitating effective management through the lens of the hospitality industry.

The competitive nature of the modern world of commerce forces organizations to formulate strategic, operational choices for competitive advantage. The management team considers some of the environmental forces facilitating the identification of the significant forces that drive the desired change. Besides, environmental forces are fundamental in enabling managers to identify market opportunities. The co-alignment model offers the management teams with some of the necessary elements whose consideration facilitates the achievement of financial goals. Strategic choice, firm performance, environmental events, and firm structure are termed as the essential elements facilitating the attainment of the desired business goals in the hospitality industry (Olsen et al., 2008). Such models further constitute basic concepts that are essential in enhancing goal acquisition.

Core competencies and competitive methods are among the significant concepts towards enhancing goal attainment in the hospitality industry (Olsen et al., 2008). As briefed earlier, the competitive environment is one of the primary considerations which influence the levels of operational success attained by business organizations. Core competencies and competitive methods fall under strategic choice in the co-alignment model. Through strategic decisions, firms in the hospitality industry adopt some of the best operational measures to enhance the attainment of the set financial goals. Secondly, the co-alignment model incorporates external and internal environmental scanning is a fundamental consideration for improving the realization of functional purposes. The two are categorized under environmental events and are fundamental concepts whose consideration dictates the levels of organization success achieved in the industry. Through environmental scanning, managers can discover situations that can translate to positive implications for the organization. Similarly, value drivers and alignment, which fall under strategic choice, are essential considerations in the hospitality industry.

An overview of the hospitality industry in Jamaica reflects on the best approaches and considerations towards facilitating the attainment of the desired financial goals. The industry reflects on the significant transformations that have taken place in the Caribbean and how the concepts of the co-alignment model led to the success of the hospitality sector. With a persistent increase in the number of foreign nationals visiting Jamaica for recreational activities, investors in the industry considered some of the best approaches to realize a competitive advantage and maximize profits. For example, M-10 Bar and Grill is one of the firms which applied concepts articulated under the co-alignment model in a manner leading to the attainment of such desired outcomes. Strategic positioning and alignment are critical in the hospitality industry (Olsen et al., 2008). Through alignment and strategic positioning, M-10 Bar and Grill managed to satisfy most of the visiting foreign nationals. Besides, the firm adopted strategic competitive methods such as excellent customer service and low charges for the services offered, which enabled it to keep off close competitors.

In summary, the Co-alignment model offers some of the essential elements and concepts which can enhance the attainment of financial goals in the hospitality industry. Concepts such as alignment, competitive methods, value drivers, scanning of the external and internal environment enable investors in the industry to attain their set objectives. The concepts of the co-alignment model include firm performance, strategic choice, environmental events, and firm structure. M-10 Bar and Grill in Jamaica is a firm evidencing that the utilization of the model can facilitate successful endeavors in the hospitality industry.

References

Olsen, M. D., Sharma, A., Echeveste, I., & Tse, E. C. Y. (2008). Strategy for hospitality businesses in the developing world. Hospitality Review, 26(1), 4.