logo

Elements Of The External Business Environment - Doc

8 Pages1558 Words378 Views
   

Added on  2020-10-22

Elements Of The External Business Environment - Doc

   Added on 2020-10-22

ShareRelated Documents
Elements Of The ExternalBusiness Environment
Elements Of The External Business Environment - Doc_1
Table of ContentsIntroduction......................................................................................................................................3PESTLE model: ..............................................................................................................................3Competitors and their assessment: ..................................................................................................4Customers and their need: ...............................................................................................................5Conclusion: ....................................................................................................................................7References........................................................................................................................................8
Elements Of The External Business Environment - Doc_2
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.
Elements Of The External Business Environment - Doc_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Assignment Marketing Environment
|7
|1180
|245

International Marketing Analysis
|10
|2200
|44

International Marketing Analysis Assignment - P&G
|10
|2153
|141

Problem Solving and Decision Making Solved Assignment
|15
|5176
|62

SWOT Analysis of Hotel and Tourism Industry
|12
|2646
|63

Luxury Hotels in UK: Analysis, Challenges, and Key Players
|13
|4519
|94