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MGMT20144 - Management and Business assignment

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Design Thinking for Managers (MGMT20140)

   

Added on  2019-11-08

MGMT20144 - Management and Business assignment

   

Design Thinking for Managers (MGMT20140)

   Added on 2019-11-08

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Management and Business ContextName: Harish NallapuStudent number:12058900Professor: Dr. Grace Phan- AthirojSubject code:MGMT20144Subject: Management and Business ContextDate:13 August 2017.1 | P a g e
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Table of ContentsIntroduction...........................................................................................................................................4Contextual internal and external factors- significance of the structure and strategy of the....................4SWOT Analysis.................................................................................................................................4Porter’s Five Forces Analysis............................................................................................................5PESTLE analysis...............................................................................................................................5Contextual internal and external factors- Active roles of the specified business...................................6SWOT analysis..................................................................................................................................7Internal factors...............................................................................................................................7External factors..............................................................................................................................7Porter’s Five Forces Analysis............................................................................................................7PESTLE analysis...............................................................................................................................8Conclusion.............................................................................................................................................9References:..........................................................................................................................................103 | P a g e
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IntroductionAny business demands some innovative and entrepreneurial skills which makes the businessunique from the existing one. The subject business of accommodation of foreign students inSydney also demands some innovation and entrepreneurship skills to make the businessprofitable with ethical approach towards business and by honoring the mission statement ofthe business with objectives set by the entrepreneur[ CITATION Erk12 \l 1033 ]. The business ofaccommodation for foreign students demands good facilities to the clients along with theambience which can ensure mental peace for them to study attentively. Hence, this businessneeds to be planned in such way that quality matters instead of quantity. So far part A isconcerned, the business proposal had been endorsed with different initial domains includingthe internal and external factors which can be determinant for the success of the business. It isrequired for this article to emphasize on major internal and external factors which arecontextually significant about the structures and strategy of the business along with theiractive role in decision making of the business[ CITATION EBu10 \l 1033 ].Contextual internal and external factors- significance of the structure andstrategy of thebusinessThere are different ways to analyze internal and external factor contextual to any business.Out of them, SWOT analysis, Porter’s Five Forces Analysis and PESTEL analysis arerelevant for the entrepreneurs to understand where they stand and in which areas they have toexcel through innovation in order to ensure sustainable business.SWOT AnalysisAs per SWOT analysis, basic contextual factors for internal and external aspects are knownas strengths, weaknesses, opportunities and threats. Out of them, strengths and weaknessesare internal factors as they can be monitored through own initiatives, whereas opportunities4 | P a g e
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