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Business Environment Assignment Questions

   

Added on  2021-01-01

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BUSINESS ENVIRONMENT
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Table of ContentsTASK.......................................................................................................................................................3Key macro issues in the business environment.................................................................................3Potential Impact at micro level..........................................................................................................5Challenges faced while carrying out the task.....................................................................................6Conclusion.............................................................................................................................................6REFERENCE............................................................................................................................................7Books and Journals............................................................................................................................7
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INTRODUCTIONBusiness environment is the outside forces of the environment which affect an organisation and the organisation depend on it for its sustainability and productivity. The forces which constitute a business environment are: suppliers: competitors, government, media and more. These factors have effect on the business even though they are outside the business organisation. This report is based on the key issues occurring in business environment of Hilton hotel. It is the largest hotel brand in the world and was founded on 31st May 1991. It includes macro and micro issues in the business environment and the challenges faced whilecarrying out these tasks.TASKKey macro issues in the business environmentA macro environment is an environment as a whole, it does not include a particular region or area. It includes trends in gross domestic product, inflation, employment, spending, fiscal policy and monetary policy. The key macro issues of Hilton hotel are discussed with a strategic tool PESTEL. Political FactorsRemaining stable in the political environment is the key to success of any organisation and isimplemented on hotel industry as well and should manage with the political issues from all over the world. The main impact of these issues is on the travellers and tourist who visits the country. It is the issue of consideration for the people who visits northern countries as they have delicate political conditions. Reduction in number of tourists in UK is due to danger of terrorism in the country and this place is known for the extremist religious organisation of accommodation with adverse impact of Hilton hotel’s performance in the market. The chances of UK to exit European unions (an issue raised by the British PM David Cameron on several occasions may also have inverse impact on the revenues of the Hilton Hotel that lead to decrease in the tourist in the nation. Economic FactorsUK is a developed country and its economy is also highly developed which provides a platform to enhance the productivity of the organisation. National macro environmental factors, events and conditions are the major factors which affect the business of the Hilton hotel. For example, during the Olympic games the rooms of hotels were fulled and as soon as the Olympic games were over the rooms were vacant. So the situations were totally different on the scenarios. The extension of expected and real economic growth in the United Kingdom has a impact on Hilton Hotel. Moreover the rate of GDP exchange rate against different countries and inflation rate has also had an impact on the performance of the Hilton hotel. Social Factors
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