Why It's Time To Rethink Your Strategic Well-Being Plan?
By Mostafa Sayyadi Management Consultant, The Change Leader Consulting Inc | June 28, 2020
Hotel executives see strategy as a pattern of decisions made by hotels to determine goals and develop plans and policies necessary for accomplishing them. Evidently, strategy is a pattern of decisions and plans, which are directed at interacting with the external and internal environment and effectively and efficiently allocating capabilities to achieve organizational objectives.
Scholars show that a hotel's strategy primarily aims to develop goals and plans to restructure unclear and vague situations into a set of organizationally resolvable problems. As a result, strategy is formed to efficiently deploy capabilities and interact with environments----both internal and external. Many large hotels have plans going well into the future.
Peter Drucker, a prominent scholar with over 40 books, highlights the importance of strategy for all kinds of organizations such as hotels. Executives read Drucker's work because it is directly applied to managerial decision making. Drucker says that successful organizations enhance their competitiveness by focusing on strategy. Drucker also presented executives with a correlation between employee well-being and corporate strategy.
In fact, hotel executives can develop a strategic well-being plan to improve the hotel's competitive advantage from only having a competitive advantage to distinctive competitive advantage. They may be able to enhance competitive advantage in global markets through developing a strategic well-being plan that can engage employees in organizational decision-making.
This article adds to a relatively small body of literature but pays homage to the scholarly contributions. I highlight the direct impact of a strategic well-being plan on hotel leadership effectiveness, and also simultaneously portray the indirect contribution of corporate culture in improving employee well-being by increasing staff satisfaction as another important component of employee well-being. This article actually investigates the crossover potential of scholarly research and how it can be applied in the organizational boardroom.
How Can a Strategic Well-Being Plan Make Hotel Executives Better Leaders?