The second part of the book establishes the key dimensions of the external and internal contexts in which both the strategy content and the strategy process are embedded. The specific dynamics and nature of the hospitality and tourism industry and organizations are emphasized throughout. In particular, Chapter 3 concentrates on exploring approaches to the analysis of the external environment that is confronting hospitality and tourism organizations. The relevant theories, models, and frameworks pertaining to the processes of external analysis are introduced and explored in the specific context of hospitality and tourism. Chapter 4 discusses the importance of the organization’s internal environment as an influence on strategy formation and implementation. The importance of organization structure, culture, and leadership as key considerations is highlighted and discussed in the context of the international hospitality and tourism industry.