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Assignment on Contemporary Developments in Business and Management

   

Added on  2019-12-04

14 Pages4633 Words140 Views
CONTEMPORARYDEVELOPMENTS INBUSINESS ANDMANAGEMENT
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1TASK 2............................................................................................................................................5i) Analysing relevance to Hilton influencing policies and decision making..........................5ii) Effectiveness of the organization response........................................................................7iii) Some areas for improvement in response of organization................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10APPENDIX 1.................................................................................................................................12
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INTRODUCTIONManagement of the organization plays a crucial role in the success of business as theyimplement different policies, norms and other relevant procedures. Contemporary issues in thebusiness and management differ from one venture to another and organization focuses onnecessary steps for solving those issues (Jeston and Nelis, 2014). By improving those issues,firm will be able to get a competitive edge over their rival firms which are working within thesame industry. This present study will focus on understanding the impact of external businessenvironment factors along with the evaluation of organization position and response. Thispresent study will also emphasize on concentrating one of the major themes which is given in thecase study and by considering that, organization will come to know that how it influences theirpolicies and decision making process. In relation to the above scenario, organization undertaken for the present study is HiltonHotel which is an international chain of hotels and resorts working under the flagship brand ofHilton Worldwide.TASK 1Mentioned hospitality venture has immense goodwill throughout the world and topexecutives of Hilton are working relatively well to improve the efficiency and productivity offirm. Moreover, cited venture also has more than 530 branded hotels across 78 differentcountries around the globe. Further, their major operations in these different countries areprivately owned, managed and franchised to independent operators of Hilton Worldwide.Moreover, organization also has skilled staff who emphasizes on giving productive services totheir clients and this is the only reason due to which mentioned firm has chain of large customerbase (Wirtz, Schilke and Ullrich, 2010).However, each and every business firm is affected by some internal or external factorsand these factors have impact on the revenue and profit earning capacity of business. PESTLEanalysis is considered as one of the important frameworks as with the help of it, cited firm willbe able to identify the factors which are influencing their operations and practices. Externalanalysis for the firm has been discussed down under:Political1
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Political factor plays an important role in the hospitality firm as it exists a balancebetween the system of control as well as free market. If Hilton Hotel needs to expand theirbusiness operations, then they have to consider the political factors that are prevailing in thatcountry (Milenkovska, 2011). Some of the political factors which cited venture has to focus are:Different tax policiesStability of the governmentEntry mode regulationsVarious social policiesTrade regulationsFurther, political situation also differs from one country to another and mentionedhospitality venture has to consider all the laws for the betterment of business. Employment law,environment law, health and safety law, etc. need to be considered efficiently so that employeeswithin the venture can get proper development (Hodgkinson and Healey, 2011). However,political situation within the Northern Ireland and other part of UK is not good and this canaffect the business operations of Hilton. Moreover, UK is also planning to exit the EuropeanUnion (EU) and this decision can hamper their revenue and productivity as well. Apart from it, Greece is facing economic crises and due to this, functioning of HiltonHotel will get affected as people have less money to spend and due to this, their profit andturnover will be reduced at a significant rate.EconomicEconomic factors can be termed as metrics which measure the health of economic region.Economic scenario of one country keeps on changing and by considering that, mentionedbusiness venture has to understand their current level of inflation, unemployment, economicgrowth as well as international trade (Chan, 2012). Apart from it, there exists some other factorsas well and these are:Disposable income of buyerCredit accessibilityInterest and unemployment ratesMoreover, UK economy is also on the verge to enter into recession. This recession willbe a double dip recession because there exists many reasons for the same such as inflation rate,euro-zone crises, unemployment, etc (Khurana, 2010). Further, any fluctuation in the interest rate2
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