Contemporary Development in Business and Management Assignment - The Pig Hotels
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Added on 2020-10-05
Contemporary Development in Business and Management Assignment - The Pig Hotels
Added on 2020-10-05
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Contemporary DevelopmentIn Business and management
EXECUTIVE SUMMARYWith changes in political laws, economical situations, development of technology, social aspectsand more, it becomes necessary for organisations to modify business policies on regular manner.In context with hotel industries, instability in external factors creates a large impact on customerbase. Therefore, corporations like The Pig Hotels have to develop their strategies to overcomefrom such situations. Along with this, they have to make investment in CSR activities so thatpublic support can be gained for enhancing tourism and business management.
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Influence of external forces on working of The Pig Hotels and importance of each factor onthe working of organisation....................................................................................................1TASK 2 ...........................................................................................................................................5Corporate Social responsibilities of The Pig Hotels...............................................................5CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12.......................................................................................................................................................13
INTRODUCTIONToday with rise in competition, it becomes necessary for companies to create changes inbusiness activities. In this regard, the interface of internal and external environments has a greatimportance in development of organisation. It assists companies to make adjustment in businessas per demand of customers. For contemporary development, it is essential for organisations toconcern on those factors which influence their function (Wirtz, Schilke and Ullrich, 2010). Thepresent assignment is divided into two main tasks where first part will make a discussion oninternal and external environment. While second task will highlight how demographic factorslike demand of ethics and CSR activities influence company's policies. For this purpose, The PigHotels of UK is chosen which deals in hospitality and tourism sector. This corporation includes acollection of some small lifestyle hotels and restaurants. These hotels are divided into two maingroups, that are- Home Grown Hotels and Lime Wood Group. Currently, it has near about fivehotels in UK named by The Pigs, The Pig in the Forest, The Pig in the Wall, The Pig near Bathand The Pig on the Beach. TASK 1Influence of external forces on working of The Pig Hotels and importance of each factor on theworking of organisationIn hospitality exceeding expectation of guests is one of the major trends in serviceindustries (Welch and et. al., 2011). Due to this trend, hospitality and tourism industry isconsidered as the fastest growing sectors in UK. In context with The Pig Hotels, it is a part ofHomegrown Hotels Group which believes that providing effective services to customer, aid thiscompany to gain loyalty and retention of guests for longer period. With this regards, mainstrategy of this hotel is based on a single line tag- Thank You from The Pig'. This organisationmainly targets to leisure and business travellers. There are various factors present in businessenvironment that influence policies and strategies of this hotel. It includes political laws,economical fluctuations, socio-economic factors and more. It is the responsibilities ofmanagement of this organisation to identify such aspects. By conducting PESTLE and Porter 5force analysis, managers of this company develop effective strategies and understand importanceof the same for running business successfully. 1
Mission of The Pig Hotels: To increase the satisfaction level of tourists by creatingunsurpassed vacations and leisure experiences. Vision of The Pig Hotels: To become one of the premium providers of leisure as well asvacation experience in UK. Financial Report: Among newest hotel, turnover of Pig Brand is increasing at rapid ratei.e. near about 20% or £17.1m, with pre-tax profit reducing from £969,813 in 2015 to £40,004last year. This hotel also repeated its success from 2015 with the highest occupancy at 96%. Thishas increased revenue from 2.2% to £4.7m. Along with this, on daily basis, this hotel serveapproximate 166 customers (Demand for the Pig remains high as turnover increases 20%,2018).PESTLE Analysis: Political factors: The Pig Hotels mainly operate its business in UK only. But now it isgoing to launch some more new hotels and restaurants in other countries also. Since everynations have distinct political rules and conditions which influence operational activities ofbusiness. Therefore, before opening any new restaurant, managers of this hotel needs todetermine impact of such factors on its policies (Sturdy, 2011). It includes interference ofgovernment, political stability, in hospitality industry, intellectual property and more. Due topolitical instability like wars, crises, terrorism, conflicts etc. create a large impact on tourismindustry. As such conditions develop threats in mind of tourists, due to which they avoid to comefor travelling. Thus, it would impact directly on profitability and decision-making procedure ofhotel industries.Importance: By identifying these factors, managers of The Pig Hotels can determinewhich government policies are in favour of business. This would help in forming effectivepolicies and prepare plans for launching hotels in other countries more adequately. Since thelevel of tourism in UK is increasing at rapid manner, therefore, improving security measures isconsidered as the major challenges in front of owners of The Pig Hotels. Government and hotelindustries are now concerning more on social security and terrorism because it directly impactson growth and development. Thus, such types of issues affect tourism and profitability of thishotel also.Economic factors: It is considered as one of the main factors which impact on entirefunctions of business. In context with hospitality industries, any economical crises will directly2
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