Assignment : Business Strategy Formulation
This assignment is designed to familiarize you with the four business level strategies-low cost leadership, differentiation, best value, and focus before coming to class.
Please read Chapter 5 in the textbook, review the lecture note, and do some preliminary research on these four business level strategies and analyze a hospitality business' strategy.
Specifically, please answer the following five questions:
1. Briefly describe the business-unit strategy of low-cost leadership;
2. Briefly describe the business-unit strategy of differentiation;
3. Briefly describe the business-unit strategy of best value;
4. Briefly describe the business-unit strategy of focus; and
5. Apply your understanding of the four business-level strategies to analyze a hospitality business that you worked at, are currently working/interning at, or are interested in working for after you graduate.
What is its business strategy? What made you conclude that this hospitality business is employing this strategy?