STRATEGIC MANAGEMENT IN HORECA: A MODERN PERSPECTIVE

Abstract

Currently, fundamental changes are happening in strategic management in the HoReCa sector due to the need for maximum flexibility in long-term development plans for operators and market participants in public catering and hospitality. The highlighted necessity is becoming more critical due to escalating competition, rapid shifts in consumer preferences, swiftly advancing technologies, and their increased importance in sustaining competitiveness and enhancing customer service. Beyond the aforementioned factors, the importance of strategic management flexibility is accentuated by the substantial vulnerability of enterprises in the HoReCa sector to economic crises. The article aims to outline the conceptual foundations of strategic management in the HoReCa sector. The conclusion has been reached that among the fundamental principles of flexible strategic management in the HoReCa sector are: prioritizing dynamic outcomes; adopting a reactive format for strategic action systems; embracing an experimental nature and strategic iteration in the strategic planning process; emphasizing resource efficiency; and actively engaging personnel in decision-making processes. It has been noted that the collective implementation of flexible strategic management principles results in the formation of a strategic management framework that assists HoReCa enterprises in sustaining operational efficiency amid fluctuations in both external and internal environments, and facilitates growth in unpredictable market conditions.