Growth Opportunity for Rental Car Industry in UK

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Table of Contents
Title of the Project...........................................................................................................................1
Introduction......................................................................................................................................1
Element 1: Research Essay..............................................................................................................2
Element 2: Self Reflection...............................................................................................................4
Element 3: Personal Development Plan..........................................................................................7
C: Personal objectives:............................................................................................................10
REFERENCES..............................................................................................................................11
Books and Journals....................................................................................................................11

Title of the Project
To identify the growth opportunity for rental car industry in UK.
Introduction
The present study initiates to determine the growth opportunity for rental car industry within
UK to increasing the performance. Therefore, changing trends and the external environment
basically aids to the growth of a lot of threats and opportunities for the immense number of
businesses which have to be identified in respect to further utilising the advantages in such a way
that the business can avail the opportunities before their rivals. In this present analysis the study
is based on rental car industry and this sector mainly comprises over vehicle rent al and taxi
businesses. The UK car rental marketing is going through a phase of evolution through
developing popularity and innovation diversifying the market place. The growing leisure tourism
industry and the developing range of tourist within the UK are expected to drive the car rental
market within the area of UK. However, UK is the developing country where are requirement of
rental car is high as people are hiring car for long as well as short term purposes, therefore, the
growth of rental car business within UK is high. For effective understanding over the subject,
Enterprise Rent-A-Car is select, thus it is an American rental car company which has its
headquarter is in Clayton, Missouri, United States in GreATER St. Lousi. With handling the
operations of rental car the company is also oversees the commercial fleet management, used car
sales and the commercial truck rental services. The company was founded in the year of 1957 by
the efforts of Jack Taylor. In this present study, secondary research has been implement as the
source of information collection to support the investigation in right manner. In addition to this,
the further concern is encompassing over self-reflection and the personal development plan in
respect to increase the areas where there is a lack of performance. There are assorted tools of
critical evaluation which has been implemented to evaluate the competitive changes in the
environment, trends and changes with application of appropriate tools and techniques.
Research Aim
To examine the growth opportunity for increasing the performance of rental car company
in UK. A study on Enterprise Rent-A-Car.
Research Objectives
 To understand the growth opportunity for rental car industry in UK.
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 To identify the strategies for improvising growth opportunities for rental car industry in
UK.
 To determine the changes and trends that effects on rental car industry and its growth.
 To explore types of leadership skills and their significance importance in gaining
competitive edge.
Research Questions
 What is growth opportunity for rental car industry in UK?
 What are the strategies for improvising growth opportunities for rental car industry in
UK?
 What are the changes and trends that effects on rental car industry and its growth?
 What are the different leadership skills and their significance importance in gaining
competitive edge?
Element 1: Research Essay
Literature review is defined as the most imperative aspect of the project which aid the
investigation in the direction to enhancing personal recognition in relation to the specified
subject. This section of investigation is based on secondary sources as in his information
accumulation is based over books, journals articles and so on.
According to Katare and Mutreja (2020), The car rental and leasing industry renders
operating leases and rents cars and the light commercial vehicles to both consumers and
commercial clients. Over the past few decades through 2020 to 2021, the revenue of the car
industry is expected to grow at a compound annual rate of 0.4 percent to reach at the £15.1
billion. The overall recovery of the global economy in the past decades performed an imperative
role in the progression of the travel business. Therefore, the developing trends and consumers
interest within travel is increasing the car rental market when businesses are rendering positive
services and output. The global car rental market had a market size of 64.47 billion in the year of
2018 and opportunities are dignified developing through a compound annual growth rate
(CAGR) of 11.53% during the forecast period 2019-2025. Increasing growth of travel and
tourism within UK has create wider opportunity for the rental car industry in UK, thus, the
developing travel helps the industry to growth within the market and gain higher growth.
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