PARTNERSHIP AND DIVERSIFICATION: KEY COMPONENTS OF STRATEGIC MANAGEMENT IN THE DEVELOPMENT ENTERPRISES OF BUSINESS-SEGMENT HoReCa
DOI:
https://doi.org/10.31891/mdes/2023-9-14Keywords:
partnership, diversification, components of modern management, strategic development, hotel and restaurant business, sustainable development, digitizationAbstract
The article focuses on the analysis of strategic management in the hotel and restaurant industry (HoReCa), with a particular emphasis on the significance of partnerships and diversification strategies in contemporary conditions. The authors explore not only the key dimensions of these strategies but also their interaction with current industry trends. The study examines modern trends in HoReCa, taking into account shifts in consumer preferences and the implementation of digital technologies. The role of partnerships in strategic development is discussed, highlighting their importance in gaining competitive advantages. Diversification strategies, including their effectiveness and interaction with technological innovations, are also scrutinized. The authors shed light on how hotel and restaurant enterprises can expand their business portfolios by adapting to market changes and meeting the demands of the modern consumer. Special attention is given to the influence of institutional factors on the formulation of strategies in the HoReCa sector, including legislative and regulatory aspects. This understanding is crucial for comprehending the constraints and opportunities in choosing a strategic course. The authors identify directions that require attention from both researchers and practitioners for a more comprehensive understanding and improvement of strategic management in the hotel and restaurant business. In conclusion, the article makes a substantial contribution to understanding the key components of contemporary strategic management in HoReCa enterprises.
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