HTM 402 Study Guide - Final Guide: King Ranch, Escadrille 3, Shoppers Drug Mart

• School: Ryerson University
• Department: Hospitality and Tourism Management
• Course: HTM 402
• Professor: Richard Wade

Document Summary

Internal environmental analysis (service, site and location: strengths. Internal capabilities, resources, and positive situational factors that may help the company to serve its customers and achieve its objectives: weaknesses. Internal limitations and negative situational factors that may interfere with the company"s performance. External environmental analysis (environmental, community, competition: opportunities. Favorable factors or trends that the company may be able to exploit its advantage: threats. Unfavorable factors or trends that may present challenges. Goal formulation (competitive advantage) four factors: what asset and skills one uses to compete. Capabilities within the organization that you will engage the competition (superior position over competitor) E. g. a great business concept, often do not duplicate well: where one competes (relates to target markets and needs) Convenience, wholesome food, security reasons, status: who competing against. Engage the competitors in a competition where your assets and skills will outperform them: how one competes (specific functional strategies used to compete) Product line canadian tire (offers a lot of products)