Application of SWOT analysis to justify the strategy of hotel business enterprises

Authors

DOI:

https://doi.org/10.15587/2706-5448.2023.274918

Keywords:

SWOT analysis, hotel business strategy, tourism, innovative management methods, management decisions based on SWOT analysis

Abstract

One of the important areas of action in Ukraine is the restoration of the sphere of activity of hotels with the reduction of restrictions after COVID-19 in the conditions of the russian federation's war against Ukraine. Using the experience of hotels in other countries will be useful in restoring the tourism industry in Ukraine. Disadvantages in the operation of hotels arise from the fact that management decisions are sometimes made intuitively, modern innovative management methods, such as SWOT analysis, are not used.

The object of the research is the influence of the owner and management on the review of the business strategy in the critical use of the hotel's capabilities with the help of SWOT analysis. The problem of improving business management was solved at the stage of considering options for improving the hotel's operations. The results were to show the chance of choosing the optimal business strategy when systematically considering options for management decisions regarding the future of the hotel using SWOT analysis techniques. When applying a SWOT analysis, the weaknesses and strengths of the hotel are modeled; but it requires special statistical knowledge.

In the paper, based on the processing of studied of the hospitality industry, examples of SWOT analysis experience for the implementation of business strategy by hotels in countries with a developed tourism market are indicated. Consolidated information is formed on the components of a SWOT analysis of a hotel business strategy according to the authors' proposals. The process of SWOT analysis in improving the activity of Ukrainian hotels at the stage of planning and implementation of strategic directions is revealed. The formation of an information base is outlined with an integrated approach in the process of implementation. Organizational measures for implementing the hotel strategy according to SWOT analysis are indicated. Conclusions are drawn and directions for further research are shown.

The obtained results are the process of making management decisions based on a set of market data, which determines the application of a certain sequence of recognized stages (algorithm). A SWOT analysis, which was prepared by eliminating all the ideas of the participants and ranking them in order of importance, will combine a large problem into a report that is more understandable to individuals and must be put into practice by them.

Author Biography

Volodymyr Panteleiev, PE «PANTELEIEV VOLODYMYR PAVLOVICH»

Doctor of Economic Sciences, Professor, Private Entrepreneur, Auditor

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Application of SWOT analysis to justify the strategy of hotel business enterprises

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Published

2023-02-28

How to Cite

Panteleiev, V. (2023). Application of SWOT analysis to justify the strategy of hotel business enterprises. Technology Audit and Production Reserves, 1(4(69), 14–19. https://doi.org/10.15587/2706-5448.2023.274918

Issue

Vol. 1 No. 4(69) (2023): Economics of enterprises. Macroeconomics

Section

Economics and Enterprise Management

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Copyright (c) 2023 Volodymyr Panteleiev

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