Business Essentials:

In the early age, cultural aspects, learning languages and travelling challenges restricted (Capacci, Scorcu and Vici, 2015). In 14 century
Christopher Columbus sailed westward and vasco da gama cruised to country for earn money then business travel has been integral part of
tourism industry(Cave and Brown 2012). Early tourism started with Nomads who
travelled around the world in search of food and shelter. Main intension of this traveller is to gathered food and traded around the world and
gave rise to the barter system (Capacci, Scorcu and Vici, 2015). 1500 BC is marked as the era when the Europeans visited pyramids and thus
developed the tourism for pilgrimage. Early tourism started with Nomads who travelled around the world in search of food and shelter. Main
intension of this traveller is to gathered food and traded around the world and gave rise to the barter system (Capacci, Scorcu and Vici, 2015).
1500 BC is marked as the era when the Europeans visited pyramids and thus developed the tourism for pilgrimage.
BUSINESS ESSENTIALS
(The major competitors and market size of BMW)
Introduction
BMW is a recognizable brand in the industry
of automobile. It offers or manufactures the
unique and luxurious cars and motorbikes.
There are different major competitors of this
corporation are Audi, Mercedes, Lexus and
Porsche.
Market share
There are different corporations having the
several shares in the market. The BMW has
an effective share in the market that is
shown in the above figure.
Factors
Some of the issues are there which are faced by BMW at
the marketplace and due to this their overall growth can
be improved. These are:
To gain the attention of the customers who lost their
faith in the services of BMW.
They have to more focused on the public relations
strategies by paying more to the staff members.
The tax policies of the government negatively affect the
company as most of the revenue goes only in paying the
taxes.
Porter five force model
BMW uses porter five force model in
order to identify the level of
competition at the marketplace as
compare to other industries. There
are five forces such as bargaining
power of suppliers, bargaining power
of buyers, threat from new entrant,
threat from substitute and inter firm
rivalry.
Conclusion
The business essentials of the BMW
changes day by day as the time passes.
The different aspects used in the
company are representation of status
and their achievements, adding the new
features and offering effective designs,
etc. The different other aspects used by
the corporation are supply chain,
pricing, increasing the brand values,
doing effective marketing, and using the
several practices of the human resource
management in order to make a
different and unique status of the
enterprise.