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Business Environment - Thomas Cook Assignment

   

Added on  2021-01-02

9 Pages2847 Words234 Views
Business Environment

Table of ContentsINTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................1a) Key macro issues in business environment for the Travel and Leisure sector.......................1b) Potential impact at micro level due to Sociological and technological factor........................2c) Challenges while doing work and suggestions to overcome such problems..........................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6

INTRODUCTIONBusiness Environment includes all internal and external factors that affects how thecompany functions including employees, customers management, supply and demand andbusiness regulations (Andersson, Forsgren and Holm, 2015). There are many factors whichaffects business environment such as legal, natural, financial, social etc. In this report, ThomasCook Group plc is taken into consideration to find the key issues in the business environment.This is a British global travel company which deals in tours and travels. In this report, differentissues related to business environment are discussed.TASK a) Key macro issues in business environment for the Travel and Leisure sectorThe external and internal factors which affects the business is known as businessenvironment. Although, these factors doesn't relate directly to the business but still these factorsaffects the business very much (Bocken and et. al., 2013). Some of the factors are social,political, environmental, etc. These factors are basically divided into two parts: macro and micro.In this task, macro issues related to environment are taken into consideration. A macro environment consists of larger societal forces that affect all the factors incompany's micro environment. Some example of macro environment include competitors,changes in interest rates, changes in cultural tastes, disastrous weather or governmentregulations. These issues include the Pestle environmental forces. Therefore, to consider theseissues Pestle has to be explained (Wetherly, 2014). Pestle analysis is a concept in marketingprinciples. This concept is used by the companies to check the effect of different issues to theirorganisation.Political- The political condition in travel and leisure sector is very much important. Thissector mostly depend on political issue. Terrorism, violence and other factors have also anegative impact on the development of travel industry. There are other factors also whichincludes political unrest, strikes and travelling rules and regulations defined by each state andgovernment (Boons and Lüdeke-Freund, 2013).Economic factors- Economically the travel industry is considered to be one of the bestindustries. The profit travel industry is making is good enough to maintain it's position amongthe competitors (Pearson, 2017 ). The growth of industry is driven by higher disposable incomes1

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