Contemporary Developments in Business and Management

Contemporary Developments
in Business and Management

EXECUTIVE SUMMARY
Contemporary developments in business and management means developing or
improving businesses through analysing those internal and external factors that can affect or
contribute toward shaping the organization and organizations don't have control on external
factors. These include changing political, economic social technological social, cultural,
environmental or climate circumstances. Also, changing needs and desires of consumers affects
heavily on any organization.
The report has covered brief overview of external factors to which British airways is
subjected and how those factors (political, economic, social technological, environmental, legal,
weather and cultural) proved to be important for British airways. Then, after selecting one
appropriate theme of Customer Relationship Management (CRM), the report analysed how CRM
influenced decision-making policies of British airways, also effectively evaluated their
organizational response, and identified and evaluated area/room for development/improvement
using CRM.
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Primary External Influences........................................................................................................3
TASK 2............................................................................................................................................6
Customer Relationship Management (CRM)..............................................................................6
The Effectiveness of the Company's Response...........................................................................8
Areas of Improvement...............................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13
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INTRODUCTION
Contemporary developments in business and management is the process of developing
and improving businesses by analysing micro and macro factors affecting businesses. The report
is prepared in context of British Airways. British Airways is leading global airline company
which is also recognized as second largest airline company across UK. This report will provide
in brief about the major external circumstances that will affect the chosen organization, that is
British Airways of airline transportation sector. And also illustrates, how those external factors
can be important for British Airways. Then after selecting one theme of customer relationship
management, the report will cover how it is important and relevant and influences British
airway's decision-making policies. The selected theme is important for British airways because,
through customer relationship management (CRM) strategies, the organization maintains and
analyse interactions with their customers. CRM helps organizations to plan, develop and manage
policies to enhance customer relationships, to provide better customer satisfaction, which
ultimately results in increasing sales and gaining profits. The report will also cover effectiveness
of organization's response which is based on CRM. And then lastly, it will provide information
about areas of development or room for improvement for British airways on the basis of CRM.
TASK 1
Primary External Influences
In order to analyse and provide brief overview of external factors or circumstances that
affect or impact any organization, PESTEL analysis is carried out. PESTEL stands for political,
economic, social, technological, environmental and legal factors that affect or influence any
organization. Here, PESTEL analysis of British Airways is mentioned below:
Political Factors: These factors plays a major role in affecting businesses of British
airways. Worldwide political stability is needed for British airways to operate efficiently,
because British Airways is global international airline transportation company. British airways is
having conflict with UK government, regarding demand of runway. Rising corruption, and
government's changing policies of trades and other post Brexit also impacted on British airways
(Connor and et. al., 2018). Also, this post Brexit impact will lead to various political
uncertainties. The governments also propose regulations for British airways to counter violence
and illegal immigration.
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