TM4010 Business Environment in Events Hospitality and Tourism

TM4010 Business
Environment in Events
Hospitality and Tourism
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PART 1............................................................................................................................................3
INTRODUCTION...........................................................................................................................3
PART 2............................................................................................................................................4
PART 3............................................................................................................................................8
Importance of business ethics and ethical considerations (including CSR) in today’s business
environment............................................................................................................................8
REFERENCES..............................................................................................................................11
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PART 1
INTRODUCTION
Event, hospitality and tourism industry is deeply providing benefits to economy. It is one of
the most important area which helps country to generate revenue from taxes which is collected
from fees paid by tourist while accommodation and travelling fees (Barauskaite and
Streimikiene, 2021). This states that event, hospitality and tourism is an important aspect which
not only fulfils consumer expectations and desires but also remains an essential source of
revenue for a country. Event, hospitality and tourism industry is highly respectable to the
changes in business environment which is affecting operations and activities. However, these
changes are also offering number of economic opportunities.
An industry to conduct this report is, tourism attraction for which a museum in London is
being selected. It is a basically attraction centre which offers high level expertise as well as
collection to tackle the biggest challenge the world is facing today. It has been evaluated that
tourism is basically a combination of various forms of sector which forms an entire industry. In
this attraction centre are basically natural based or manmade which is used for tourism product
development. Attraction sector in tourism industry is an important aspect as it attracts consumer
attention towards a specific location which attraction motivate tourist to visit the destination and
have awareness. There are mainly three types of attractions such as natural attraction, cultural
attraction and special attraction (Celuch, 2021). In terms with special attractions, it is inclusive of
environment which include entertainment centre, stadium, museums, theme park, zoos etc. To
conduct this, report The National History Museum in England is selected which is a world-class
visitor attraction and a leading science research centre. Present report is conducted to discuss the
journal knowledge of the manner in which attraction centre in hospitality and tourism industry
operates with the help of macro and micro business analysis.
Present report is conducted on The National History Museum in London which exhibit wide
range of specimens from various segments of natural history. The museum is home to earth and
life science specimens. It has been evaluated that this museum is mainly famous for its exhibition
of dinosaurs, skeletons and architecture. The National history Museum was established in the
year 1881. It has been identified that this museum has great knowledgeable staff those who offer
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strong consumer service. Furthermore, it has been underlining that National history Museum of
London offers outdoor learning as well as activities with an aim to inspire the next generation for
preservation of object. Along with this, respective Museum is aiming towards transforming the
study of natural history. To fulfil this The National history museum, have a vision to create
advocates for the planning, as Earth is now changing fast under the influence of human
behaviour which is leading towards biodiversity loss and climate changes.
PART 2
PESTEL
Pestel analysis is a strategic tool or framework which helps in determining the elements
in business environment which is having positive or negative impact upon business organisation.
In terms with present report pestle analysis of The National History Museum is being conducted.
Political:
The political factor is important element in Pestle analysis. It has been evaluated that
United Kingdom government is being affected due to Brexit which hinders number of project
and opportunities. Other sustainable plant project of the national history Museum is also at risk,
due to Brexit the national history Museum is at risk of receiving appropriate financial in
assistance.
Economical:
Economic factor plays important role in pestle framework. In terms with present analysis,
it has been identified that due to increase in competitive fundraising landscape the national
history museum is facing difficulties to manage maintenance cost.
Social:
This factor of pestle analysis is inclusive of believes, values, cultural perspective,
education and other elements within a community (Tuan, 2021). In the provinces of United
Kingdom younger generation are more responsible towards preserving heritage as well as
cultural values. This increases the opportunity for the natural history museum in which they can
attract and involve younger generation in the preservation of natural and cultural heritage.
Furthermore, it has been evaluated with the help of strong community links the natural history
museum can influence younger generation and other individuals which helps in ensuring
preservation of natural history.
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