Limited-time discount for students! | Solutions starting at $6 each.

Elements Of The External Business Environment - Doc

Added on - 22 Oct 2020

  • 8

    Pages

  • 1558

    Words

  • 120

    Views

  • 0

    Downloads

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 3 of 8 pages
Elements Of The ExternalBusiness Environment
Table of ContentsIntroduction......................................................................................................................................3PESTLE model:..............................................................................................................................3Competitors and their assessment:..................................................................................................4Customers and their need:...............................................................................................................5Conclusion:....................................................................................................................................7References........................................................................................................................................8
IntroductionEnvironment plays an important role in the success or failure of organisation as it directlyaffects the working performance of company (Rosemann and vom Brocke, 2015). Externalenvironment refers to all the external factors which are handled by the situations of the market.For this report, Marriott hotel is taken for consideration. It is one of the largest hospitality chainin the world which has more than 6520 hotels all over world and headquarter in Maryland,United State Of America. Techniques like Pestle model will be use to scan the externalenvironment. Competitors and their strategy will be explained with functional example.Customers behaviours, needs will be elaborated.PESTLE model:Every company has to do external scanning to find out the threats and opportunitieswhich they could face in the future. There are different types of models which company uses toscan their environment but Pestle is one of the trusted and helpful model which is explainedbelow,Political factor:Marriott being the hotel industry has many political factors whichaffects organisation. Government charges great amount of tax on the luxury and star category ofhotels. It is also affected by international relations and political climate in famous touristdestinations (What is PESTLE Analysis? A Tool for Business Analysis,2018).Economical factor:All the economic factors of country like inflation rate, currencyfluctuation, interest rates ,etc.(Botha, Kourie and Snyman, 2014) which have a important impacton organisation. All over the world, Marriott hotel own wide number of tourist arriving for thevarious purposes like conferences, workshops, business dealings, etc. So Marriott can customiseits travellers because tourist bring great amount of money with them.Sociological factor:Culture and climate of company where business is operating,agediscrimination, labour cost, disposable income, attitude towards life ,etc. comes undersociological factor. Marriott have to change their products and its specifications according to thelatest trends which is running in UK so that they can capture more market and customer.Disposable income of UK people is increasing due to rise in economy which is an opportunitiesfor Marriott hotel.
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document