Impact of Business Environment on the Events, Hospitality, and Tourism Industry

Business Environment
in Events, Hospitality
and Tourism

Table of Contents
INTRODUCTION.................................................................................................................................3
MAIN BODY........................................................................................................................................3
CONCLUSION.....................................................................................................................................6
REFERENCES......................................................................................................................................7
Books & Journal:...............................................................................................................................7

INTRODUCTION
Business environment is the most important part of market. It is defined as process
which comprises of internal and external factors organisation structure. (Ahmadi, 2018).
With changing period of time, it has become important to focus on both these factors so that
goals and objectives are achieved in proper manner. Ryanair, Airline Company
headquartered in Ireland. It has number of subsidiaries such as Malta Air, Buzz, etc. This
report comprises of PESTEL, SWOT analysis and porter generic strategies. This report gives
brief information about impacts of business environment on specific sector.
MAIN BODY
PESTEL Analysis
It is a framework which is utilised by companies with purpose of determining external
factors acting upon business operations and functions.it is necessary to focus on this concept
as it gives brief information about market and changing situations. It comprises of several
components which are further discussed below-
Political factor-
In this element intensity of government intervention within economy and this sector
includes environmental law, labour law, trade policies etc. The impact of Brexit affects
Ryanair at larger level as because air traffic between UK and EU countries reduces access to
UK market. It is important for selected enterprise to follow all rules and regulations of
countries where the flights flew which makes it difficult for them to operate in proper manner
(Bertozzi, 2017).
Economical-
This is another component of framework in which focuses on inflation and deflation
rate foreign exchange rates etc. Due to the impact of covid-19 situation, airline industry has
been impacted at wider scale up to 30% of loss. Moreover, this impact of laws has
devastating Ryanair operations and functions. It is necessary for them to achieve economic
benefit so that it is easier to improve their business sector appropriately (Don-Serge, 2019).
Social-
It focuses on belief, shared values, religion, culture and many more. In context of
selected organisation dead target market are business and leisure travellers who like to travel
on periodically basis. As prices of this airline are low cost generation Y travellers are able to
afford short trips every year. Focusing on disposable income of people they are able to stable
they are business in most effective way.
Technological-