logo

Sample Assignment on Business Environment - Doc

   

Added on  2021-01-02

9 Pages2599 Words256 Views
Business Environment

Table of ContentINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................1a. Macro issues in the business environment that are significant for the ‘Travel & Leisure’Sector...........................................................................................................................................1b. Explain the potential impacts at micro level............................................................................3c. Appropriate ways of overcoming such challenges..................................................................4CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6

INTRODUCTIONBusiness environment is dynamic in nature and involve several micro as well as macrolevel factors. Here, micro are customers, employees, competitors, distribution channels andsuppliers. Whereas, macro include trade cycle, level of income, policies and nature of aneconomy, distribution of income and wealth. Modification in all these factors give wide impacton operation of the organisation which can be positive or negative (Hilton and Platt, 2013). Thisreport is based on travel and Leisure sector of United Kingdom, it is the widest and fastdeveloping industry in the business environment. Below mention assignment will going toexplain macro issues within business environment and who they are important for respectivesector. Along with this, potential impacts at micro level and issues involved in them are alsoexplained. As well as ways to overcome with these challenges. MAIN BODYa. Macro issues in the business environment that are significant for the ‘Travel & Leisure’Sector. Macro environment refers to all those factors which are external parts of the company'sactivities and beyond the control of anyone (Bharadwaj and et.al., 2013). Travel and Leisure isthe widest sector in the business environment as well as fast growing. BREXIT is the macroenvironmental factor which affect respective sector a lot because funds for running business inUK is taken from the European Union. There are several issues in macro business environmentfor Travel and Leisure sector. Explanation of these are as follows:- PEST analysis – It is the measurement tool which is utilise to assess market-area for aspecific goods or a business within a given time frame. PEST stands for political, economic,social and technological factors. If these factors are analysed by the Travel and Leisure sectororganisation's then they can take better decisions for their working. Political – United Kingdom consist England, Wales, Scotland and Northern Ireland aswell as it is most powerful nation in the world (Berg and Kilambi, Siebel Systems Inc,2014). Political stability is the strength of the country, where BREXIT has createduncertain and political debates in the economy. Such modifying political condition givewide impact on the organisation of travel and Leisure sector. Present corporation tax ratefor enterprise profits is 19%. However, the government announced to reduce the

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Business Environment - Hilton Hotel
|9
|2662
|330

Leisure Management Assignment
|8
|2498
|56

Business Environment Assignment - Travel and tourism sector
|9
|2862
|327

Business Environment -IHG
|6
|1692
|94

Business Environment Assignment - Travel & Leisure sector
|8
|2315
|416

Environmental Issues and Their Impact on Business
|9
|2625
|338