Degree | Type | Year | Semester |
---|---|---|---|
2500894 Tourism | OB | 3 | 2 |
There are no prerequisites.
Creating a business from scratch is not an easy task. And neither is its survival after a few years or that it ends up performing better than its competitors. However, there are many companies that are able to achieve it. This course aims to present no magic formula to explain this fact but to give you instead of a toolbox of methods and techniques that enable you to succeed in business. During the course, we will see how external factors affect the company's strategy to follow, how the industry in which are will shape our opportunities, and how strategies are selected and implemented. Finally, we will see how companies diversify or internationalize their markets, and we will briefly highlight the latest trends in this field.
At the end of the course you should be able to:
1. Identify the economic, social, ethical, or political factors that influence the company and/or industry strategy.
2. Identify the key drivers of industry profitability.
3. Identify new business opportunities in the different segments of the tourism industry.
4. Identify the skills and resources necessary to carry out a certain business strategy.
5. Evaluate and select alternatives, establishing appropriate mechanisms for implementing and monitoring strategies.
6. Understand the importance of business internationalization, as well as its complexity.
7. Develop managerial and conflict management skills.
8. Extrapolate expertise and make decisions based on the best corporate practices (benchmarking).
The course is divided into eight main topics:
Topic 1. Strategic Position
1. What is a business strategy? We will take about the origins of business strategy and its development throughout the last decades of the 20th century. We will also introduce the concepts of the mission and vision of the firm.
2. The company macro environment. We will see how the political, economic, social, and technological factors can determine our performance or the strategies we have to adopt.
3. Industry analysis. Every company operates in an industry that has to deal with competitors, but also with customers, suppliers, or companies that produce similar products. Depending on their relative strength, industries will differ on their potential attractiveness. Several performance measures will be introduced in this chapter.
4. Internal analysis. External or industry factors are not the only ones that will determine the business profitability. Our resources and capabilities will also determine that we adopt one or another strategy. We will also introduce the concept of the "value chain."
Topic 2. Strategy implementation.
5. Competitive strategies. We will present Porter’s competitive strategies theory and we will discuss the three main strategies: cost leadership, differentiation, and focus.
6. Strategic directions. The section will be discussing growth strategies and corporate level decisions.
7. Internationalization. Modern companies, even the smallest ones, are increasingly operating in the global market. In some cases, internationalization has been or how to save yourself ... or even become a leader inthe market. Internationalization is not an easy task, and it often presents challenges that must be considered and dealt with.
Topic 3. Strategy in action.
8. Strategy implementation. Once we have defined the generic strategy, it is time to choose a particular one and put it into practice. This topic will also discuss the product portfolio analysis and the different varieties of diversification.
9. Contemporary trends in business strategy. This topic will discuss current management issues that have not been covered in previous issues. Such as control of the strategy, management of change, etc. In this topic, we will use scenario-analysis and Delphi techniques.
The course runs based on three teaching-learning methodologies:
The methodology of the theoretical part of the course:
Classroom-based classes with an explanation regarding the different agenda items. Self-study of the theoretical materialsTheoretical classes will be audiovisual (PowerPoint presentations, video viewing to support the theory, etc.).
The methodology of the practical part of the course:
Preparation and class-based presentation of case studies related to theoretical explanations. These exercises and cases are based on the analysis of the activities of the companies.
The methodology of the outclass learning part of the course (Campus Virtual):
The Campus Virtual platform will be used to share information and alternative media in the classroom between students and the teacher. Campus Virtual will contain the profile of the course, additional theoretical material in digital form, cases and exercises, links to websites, etc.
4. Business project. One of the key skills to work in this course is to develop an entrepreneurial spirit to create and manage products and companies in the tourism sector. To achieve it, part of the course will be used to carry out a business project, focusing on issues of strategic nature (product definition, analysis of the environment and trends, market definition, competitors ...). This work will be done in groups and will include the delivery of an interim document, which will be analyzed and discussed with the teacher.
Title | Hours | ECTS | Learning Outcomes |
---|---|---|---|
Type: Directed | |||
Public presentation of the Project | 4 | 0.16 | 2, 4, 7, 6, 8, 5, 16, 14, 15, 9, 17 |
Resolution of Practical cases | 30 | 1.2 | 7, 6, 8, 5, 14, 15, 9, 10, 17 |
Theoretical classes | 30 | 1.2 | 1, 13, 12, 11, 10 |
Type: Supervised | |||
Tutorials | 24 | 0.96 | 5, 10 |
Type: Autonomous | |||
Project Development | 15 | 0.6 | 4, 3, 7, 6, 8, 5, 12, 11, 15, 10 |
Resolutions of practical cases | 15 | 0.6 | 2, 4, 3, 7, 6, 8, 5, 13, 12, 11, 16, 14, 15, 17 |
Study | 15 | 0.6 | 5 |
This subject will be evaluated as follows:
1. Continuous evaluation:
a) Practical activities (20%): Completion and presentation of the class discussed exercises and cases, handed-in within the established deadline.
b) Business Project (30%): Preparing and presenting in a group a Business Project of creating a new business, focusing on the strategic issues. The instructor will require the delivery of interim versions to validate the content and class Presentation.
c) Periodical controls (50%): exams are based on theoretical materials and practical cases.
The exercises and cases will be collected by the instructors during the course, typically during the practical class sessions.
The partial exams comprise the questions, which can be theoretically oriented (conceptual questions) or have a more practical nature (calculation problems). Some of the exam questions will provide multi-choice answers and others will be open-ended.
To approve the subject it is necessary to obtain a score above 5 (five) on average (practical activities, Business Project, and periodical control).
If students do not obtain a minimum grade of 5 through the continuous evaluations of 1. (a), (b), and (c), shown above, they can take a final exam. The final exam takes place according to the calendar of the academic activities, which is reported in students’ guides or in the web of the school. The grade of the final exam will be 100% of the final grade.
2. Instead of continuous evaluations of 1. (a), (b), and(c), shown above, students have the option to directly take the final exam. The grade of the final exam will be 100% of the final grade.
Students with a grade between 3.5 and 4.9 in the final exam will have the chance to retake the exam, according to the calendar of the academic activities, which is reported in students’ guide or in the web of the school. If these students pass the retake exam, their final grade will be 5.
Title | Weighting | Hours | ECTS | Learning Outcomes |
---|---|---|---|---|
Examen Theoretical | 50% | 4 | 0.16 | 1, 4, 3, 13, 10 |
Practical activities | 20% | 10 | 0.4 | 2, 4, 3, 7, 6, 8, 5, 13, 16, 14, 15, 9, 10 |
Project | 30% | 3 | 0.12 | 4, 3, 12, 11, 14, 17 |
Basic Bibliography (not obligatory)
Additional reading:
Other sources will be available through the Campus Virtual.