IGNOU MTM 1 2017 - Differentiate between strategy, policy and procedures. What is the sig

Question

Differentiate between strategy, policy and procedures. What is the significance of having
procedures?

24 Jan 2018

Answer :

Word Count : 1032

In the context of management functions and behavior in tourism, strategy, policy, and procedures are interconnected concepts that play a critical role in achieving organizational goals and ensuring operational efficiency. Each serves a distinct purpose and operates at different levels of management, offering specific benefits when implemented effectively.

Strategy

A strategy is a high-level plan designed to achieve long-term objectives. It outlines the overall direction and priorities of the organization. Strategies are formulated at the top management level and serve as a roadmap for decision-making across the organization.

In tourism, strategies are often geared toward market penetration, customer satisfaction, sustainable growth, and competitive advantage. For instance, a tourism company might adopt a strategy focused on expanding its eco-tourism offerings to attract environmentally conscious travelers.

Characteristics of Strategy:

Goal-Oriented: Focused on achieving long-term organizational objectives.
Dynamic: Strategies must adapt to changing market conditions, consumer preferences, and technological advancements.
Comprehensive: Encompasses various aspects of the business, including marketing, operations, finance, and human resources.
Proactive: Anticipates challenges and opportunities in the external environment.
Focus on Competitive Advantage: Ensures the organization remains ahead in the market.

Example in Tourism:

A hotel chain might implement a strategy to penetrate emerging markets by establishing luxury properties in lesser-known travel destinations, targeting affluent travelers looking for unique experiences.

Policy

A policy is a general guideline that establishes boundaries within which decisions can be made. It reflects the organization’s principles, values, and objectives and provides a framework for consistency in decision-making. Policies are often developed by mid- to senior-level management

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