External Business Environment (Doc)

Added on - Feb 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 20 pages
EXTERNAL BUSINESSENVIRONMENT
TABLE OF CONTENTINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1................................................................................................................................................1TASK 2............................................................................................................................................21.2................................................................................................................................................2TASK 3............................................................................................................................................31.3................................................................................................................................................3TASK 4............................................................................................................................................31.4................................................................................................................................................3TASK 5............................................................................................................................................51.5................................................................................................................................................5TASK 6............................................................................................................................................52.1................................................................................................................................................5TASK 7............................................................................................................................................62.2................................................................................................................................................6TASK 8............................................................................................................................................72.3................................................................................................................................................7TASK 9............................................................................................................................................82.4................................................................................................................................................8TASK 10..........................................................................................................................................92.5................................................................................................................................................9TASK 11..........................................................................................................................................93.1................................................................................................................................................9TASK 12........................................................................................................................................103.2..............................................................................................................................................10TASK 13........................................................................................................................................113.3..............................................................................................................................................11CONCLUSION............................................................................................................................11REFERENCES..............................................................................................................................12
Illustration IndexIllustration 1: Gender ratio in hospitality sector..............................................................................4
INTRODUCTIONExternal business includes various factors which highly affects the business operationswhich are been held out by the organization. This will ensure the fulfilment of the objectives ofthe company. Further, the firms involved in the hospitality sector have to face many challengeswhile achieving the targets (Hazlina Ahmad and et.al., 2010). Thus, the factors such as socio,economic, political etc. have a great impact on the business and it is very important to deal withthem to have positive results. Moreover, the business environment is combination of internal andexternal factors. The former one can be managed and controlled as they are confined within thecompany. However the external factors cannot be controlled by the business as these are thenatural factors. In the present report, Marriott hotel is been taken which is a leading business unitin the hospitality sector and provides with several services to the clients. In addition to this, theeconomy of UK is been studied thoroughly which includes its structure, size, policies etc.TASK 11.1The economy of UK isfifthlargest in the whole world by the year2014. Further, itcontributes around 0.7% in agriculture sector and as it is referred to be developed country thathas covered 21.1% of its GDP under the industrial sector. Moreover, the service sector with72.2% of the GDP has attained the highest market share in the economy as this sector plays animportant role in the growth of the economy. As it is been studied that UK is a capitalist nationso its government complies with capitalism and their foremost motive is to protect the privatesector companies over the public companies. Further, the population of UK in the year 2012 was63.244 million (Botha, Kourie and Snyman, 2014).Hospitality sector of UK is on fifth largest position in the world and is contributingaround 36.1 million to its total economy. Further, the taxation policy of UK is quite differentfrom other countries as it mainly involves the payment at two different levels of the governmentwhich includes local as well as central government. The local government is been financed bygrants from central government, council tax etc. further, the central government revenues includeincome tax, VAT etc. Moreover, the economic policy adopted by the UK government is quitedifferent. They have passed several laws which help to protect the private organization. Growthand development of economy is taking place at a faster pace and it is providing various1
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access