Making Sense of Implemented Strategies in New Venture Hospitality Management. An American - Austrian - Hungarian Case Research Study

Posted: 9 Nov 2009

See all articles by Arch G. Woodside

Arch G. Woodside

Boston College - Department of Marketing

Date Written: 2006

Abstract

An examination is conducted into the application ofmapping strategic thinking as a research tool for understanding entrepreneurialstrategies implemented in the hospitality industry. This cause-mapping methodis applied to demonstrate how multiple organizations make decisions, negotiate,revise their decisions, and act jointly together over time. A case research study resulted in comprehensive cause maps of the strategiesused in the 1992-93 selling/buying and refurbishing of the DunaInter-Continental Hotel in Budapest. The principal organizations involvedin the renovation, which were headquartered in Hungary, Austria, and the UnitedStates, participated in the case study. Findings indicate that proactive strategic orientation, in conjunction withrelevant expertise/experience, is vital for initiating a new venture. Financinga new venture requires the formation and nurturance of long-term workingalliances between product manufacturers and service providers with theirfinancial backers. The final obstacle in the sale/purchase agreement for thehotel consisted of the assurance that jobs in the Duna will not be eliminated.These findings illustrate how the strategy-making process consists of acombination of entrepreneurial, adaptive, and planning modes. (NEE)

Keywords: Layoffs, Strategic orientation, Strategic planning, Management decisions, Startups, Hospitality industry, Bargaining, Interfirm alliances

Suggested Citation

Woodside, Arch G., Making Sense of Implemented Strategies in New Venture Hospitality Management. An American - Austrian - Hungarian Case Research Study (2006). University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship, Available at SSRN: https://ssrn.com/abstract=1501528

Arch G. Woodside (Contact Author)

Boston College - Department of Marketing ( email )

Fulton Hall 450D
140 Commonwealth Ave
Chestnut Hill, MA 02467
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
252
PlumX Metrics