Chapter 2 is devoted to examining and applying strategic management in the hospitality and tourism contexts. It provides a brief review of the current level of strategy literature in the hospitality and tourism field and illustrates its limitations. This chapter also discusses why tourism and hospitality organizations need strategy and strategic management and whether and how generic strategy models and theories can be applied in tourism and hospitality organizations. The primary objectives of the two introductory chapters are to establish the importance and relevance of strategicmanagement as an area of academic study and as a key executive practice for aspiring hospitality and tourism professionals.