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For courses in Strategic Management or Policy in Hospitality Programs. Based on scientific research within the industry, this book outlines a strategic model that can be used to improve decision making and policy within the hospitality field. Combining quality research and experience, it discusses key topics such as: environmental scanning, competitive strategies, structure and implementation, and performance. Placing a responsibility on the learner, the book offers a combination of cumulative learning exercises, simulated decision making settings, and a text specific website. This edition clearly discusses the role of strategy in creating firm value and growth and stresses the relationship between leadership theory, strategic thinking and financial management.