MGT 306 Lecture Notes - Lecture 13: Delphi Method, Brainstorming, Dependent And Independent Variables
14 Jul 2018
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Document Summary
Hospitality planning process begins w/ a long look around the environment. Here, organization carefully studies opportunities & threats the future holds for both it & its industry. There are 3 categories of factors that should be included in an environmental assessment: overall environment, industry environment, company"s operating environment. Assessing the future depends on a chosen forecasting process: forecasting: techniques range from heavily quantitative tools to highly qualitative tools, quantitative tools = objective. Include powerful tools of statistical forecasting: qualitative tools = subjective. Pure creative guesswork: most forecasting techniques are based on idea that future is somehow related to the past. What has already happened has some predictable relationship to what will happen: forecasting techniques are useful to capture impact of current trends on future business. However, they are only 1 source of input into creative process by which thoughtful hospitality managers develop strategic plans: other types of quantitative & qualitative tools:
