Foundations of Business and Tourism: Management Model and PESTLE Analysis

FDN005
FOUNDATIONS OF
BUSINESS AND
TOURISM

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Management model................................................................................................................1
Characteristic of management model.....................................................................................3
Management theories..............................................................................................................3
TASK 2............................................................................................................................................4
Macro environment................................................................................................................4
PESTLE analysis....................................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Business refers to any institution or enterprising entity that engages in infomercial,
manufacturing, or professional practices with the goal of increasing revenues. The primary aim
of a business is to generate profit for interested parties such as stakeholders and owners along
with upholding the corporate social responsibilities. It is critical for the management of business
to manage all of its functioning and operating in a structured way for the purpose
of achieving predetermined goals and objectives. Tourism businesses actively focus on providing
services to expedite pleasure and leisure activities away from the home environment. The chosen
organisation for this report is Marriott International Inc which is an American multinational hotel
founded in 1927 by J. Willard Marriott and Alice Marriott. This report include the discussion of
the management model along with its features. In addition to this, the components of pestle
analysis are explained to describe the macro environment.
TASK 1
Management model
Management models and theories are linked to a variety of issues which include motivation,
leadership and change management. For the purpose of performing business operations in an
effective manner and achieve decided aims and goals, it is critical for the business
organisation to adapt appropriate management models in specific situations and problems.
Several changes occur in a dynamic business environment, so it is critical for businesses to
incorporate a change management model for the purpose of adopting and implementing
the changes along with gaining the competitive benefit.
McKinsey 7S model: The McKinsey 7S model is defined as a management model that consists
of seven elements that allow businesses to make improvements in a well structured manner. It is
a strong framework for the employees who are playing several roles within a
business organisation (AGHAZADEH, and AHMADI, 2017). In today's competitive business
environment, it is critical for Marriott International Inc to make significant changes at all levels
of the organisation for the purpose of gaining the competitive benefit over competitors. Below
mentioned are the several components of the respective management model:
Strategy: Strategy refers to the activities, blueprint or roadmap that provide guidlines to
the businesses for carrying out company functions in a systematic way. Marriott International Inc
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