References for Research Paper

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Individual Report and
Reflection

TABLE OF CONTENTS
PART 1............................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Ways in which business is impacted by the external environment influences............................1
Findings from research................................................................................................................5
CONCLUSION................................................................................................................................5
PART 2............................................................................................................................................6
Personal reflection on key skills areas based on learning experience.........................................6
VARK Model of Learning Styles................................................................................................7
REFERENCES................................................................................................................................9

PART 1
INTRODUCTION
Business analysis is an important aspect of every kind of business which is done with an
aim to help the firm in increasing its revenues and cutting excess waste. In today’s era, it has
become significant for every company to do business analysis time to time so that firm’s
strengths and weaknesses can be known and accordingly, corrective actions can be taken
(Roederer, Nozzi and Nason, 2011). The present report is divided into two parts where first one
will focus on the way in which external operating environment affects functioning of a business.
Also, external business analysis will be made by using different tools and techniques like SWOT
and PESTLE as well as Porter’s Five Forces Model will be used to assess the competitive
position of business. For this purpose, the firm, Enterprise Rent-A-Car has been chosen that is an
American car rental company based in United States (Enterprise Rent-A-Car, 2016). In the
second part, personal reflection on the basis of learning will be given.
Ways in which business is impacted by the external environment influences
Industry data
A car rental or care hire agency is an organisation which gives their automobiles on rent
for a short period of time that is mainly ranging from few hours to some weeks. These companies
generally have numerous branches that allows a customer to return the vehicle after specific
duration at any other location of the same firm. This industry serves people in many ways like
giving temporary vehicles and offering extra products such as entertainment systems, portable
WI-FI, insurance, etc.
Key stakeholders of Enterprise Rent-A-Car
Major players in car rental firms are customers, suppliers and competitors who play a
vital role in making organisations able to run their operations in an effectual manner. For the
cited organisation, these stakeholders are explained as follows:
Customers – Enterprise Rent-A-Car believes in providing complete customer satisfaction
which is their principle. As per this goal, the firm is sustaining in the market since a long time
and still it is having the same objectives (Jung, 2011). This is the reason; customers of this
organisation are highly satisfied. Since the time they initially started their business, they are
providing a level of service which is making customers back to their flagship stores again. In
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order to serve customers with high quality services, company is hiring smart, motivated men and
women in their management training program.
Suppliers – Fir nearly 60 years, Enterprise Rent-A-Car is working for delivering the best
car rental experience to customers. It has built trust and confidence among people which is
serving as a competitive advantage to the firm. However, in the growth of business, local and
global suppliers of Enterprise Rent-A-Car played a significant role as they have been the critical
partners that helped organisation in attaining its vision of offering society with excellent
customer service (Enterprise Recognized for Supplier Diversity Program, 2014). Company is
having healthy relations with their suppliers with maintaining commitment to local communities.
Organisation has selected those suppliers who uphold the highest standards of quality, legal
compliance, honesty and respect for human rights. Apart from that, suppliers as well as company
both respect the customs and cultures of societies which they are serving. Thus, Enterprise Rent-
A-Car is having effective supply chain in which it together works with the vendors in such a way
that business can sustain in the long run.
Competitors – Cited organisation is having its competitors like Alamo Rent a Car, The
Hertz Corporation, Penske Truck Leasing, U-Haul Co and National Car Rental through which it
is having threat (Fok, Yip and Lushin, 2011). Company is facing intense competition form
rivalry firms in the market due to which it is required for business to keep bringing innovation
and creativity so that customers can be retained in the long run.
PESTLE analysis of Enterprise Rent-A-Car
The very first stage of market analysis of any firm is to assess the external environmental
factors that put their impact on the operations of business. In order to do the same, tool of
PESTLE analysis is the best suitable. By analysing the macro-environmental factors, Enterprise
Rent-A-Car can grab the potential opportunities as well as level of risks can be minimized to a
high extent. It is explained as below:
Political and legal – When government changes, it put a huge impact on functioning of
firms. In the similar way, at the time when there is change in political parties, Enterprise gets
affected as it operates at global level and a little change in government can hinder their
performance (Bromley and Virji, 2010). Instead of the fact that organisation is having large fleet,
there will be restriction put on the firm by EU (European Union) environmental officers that
organisations dealing in automobile sector have to cut the amount of CO2 as when is emitted by
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cars, it makes the environment polluted and unhealthy for society. MOT and car insurance are
the other issues that can affect operations of Enterprise if not followed as per the set norms.
Apart from that, according to political environment, organisation is required to pay a
considerable amount to ensure that every vehicle used by the firm and that is offered to the
customers is safe and secured.
Economic – In the year 2008, when there was the time of recession, it impacted all
businesses over there. As Enterprise Rent-A-Car is operating in this nation as well, it had a huge
impact of the same on its operations. The economic uncertainty within that period affected
confidence level of consumers to a high extent due to which there was decline in number of
tourists (Fok and et.al., 2012). It hampered the profitability of company and its market share has
been decreased. This recession is having its impact till now. Although, financial condition has
amended a lot, but still improvement is required. Apart from that, the 2012 Olympic Games also
had their impact on the revenues of Enterprise as in that period, car rental transaction of the
organisation got affected and supply of products and services got increased that of their demand
(Roederer, Nozzi and Nason, 2011).
Social and environmental – As the major service given by Enterprise Rent-A-Car
involves automobiles, it is important for organisation to keep the carbon footprint low. However,
firm is successful in doing the same as it is offering low-emission automobiles in the market so
that society would not get harmed in any way. Apart from that, it is providing environmental
friendly schemes like “WeCar” in which customers use hybrid cars on hour basis. In these cars,
carbon footprint is low as well as this scheme proves to be highly helpful in reducing the number
of cars on road as they are run on hourly rates (Ghodrati, Benjevic and Jardine, 2012). Also, it
can be said that organisation runs by keeping in mind the welfare of society and thus, it is
concerning population trends as well as income of their customers.
Technological – 50 years ago, Enterprise Rent-A-Car was having only 7 cars by which it
started the business. However, with the use of advanced technologies, it gained ease in logistics
and now, it is the leader in car rental industry with having highest fleet size. Although the firm is
using highly secured technologies, still, company has to give surety that all its vehicles are safe
to be used by customers (Haun and et.al., 2010). Being in car rental sector, it is important for
organisation to take safety as the key concern as a small mistake with respect to quality of cars
may put a negative impact on potential customers and thus, it will reduce the profits of the firm.
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Porter’s five forces analysis of Enterprise Rent-A-Car
In order to analyse the competitive position of cited organisation, Porter’s Five Forces
Model is the best suitable with the help of which level of competition for firm within industry
can be assessed. Thus, to understand the same, explanation of this model is given as below:
Bargaining power of customers – With regard to Enterprise Rent-A-Car, bargaining of
customers is high as well as low as it completely depends on financial resources that they have.
However, mainly customers have low power bargaining but company has high like in case when
If someone would want to rent a car, it would not make any major difference in the total revenue
of firm (Hopen and et.al., 2010). But, on the other hand, losing a single customer may prove to
be a big loss for business in terms of decrease in revenues.
Bargaining power of suppliers – Suppliers of Enterprise Rent-A-Car neither have high
bargaining power, nor low. They have medium power of making bargaining as there are many
automotive firms that supply vehicles to Enterprise. Thus, in case one supplier increases its
prices, company has other available options to which it can switch over.
Threat of new entrants – New firms that desire to enter in the automobile market have
high level of risk as to start a rental service company is not an easy task. It requires extensive
amount of resources. Because of presence of intense competition in automotive sector, it is a
risky decision to enter in such market where chances of earning profits is very low (Haykin,
2012). Therefore, it can be said that Enterprise is having low threat from new entrants.
Intensity of rivalry – Although Enterprise Rent-A-Car is having a few competitors, but
still, they can compete with the firm by lowering their prices and giving customer services in a
better way. Thus, intensity of rivalry organisations is medium. However, the level of competition
is intense only because of the reason that all competitors firms and Enterprise are offering
services at almost similar prices. Thus, by offering best quality services only, cited organisation
can beat the competition.
Threat of substitutes – There are only a few competitors present in the automotive
industry for Enterprise (Szczupak and et.al., 2012). As stores of company are mainly located
nearby the areas from where people have to hire cars to reach at their specific destination, it is
obvious that maximum customers use the services rendered by Enterprise Rent-A-Car. So, threat
of substitutes is low for this firm.
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Findings from research
It has been found from the above report that Enterprise Rent-A-Car is having leading
position in the market. It is sustaining since a long time by robust financial performance. Also,
company providing the best customer service and thus, keeping target consumers highly
contented. Apart from that, firm is having a large fleet of vehicles. With changing trends of
renting cars, company can make modifications accordingly that will grab keep customers
interested in services provided by it (Roed-Larsen and Stoop, 2012). Also, by taking the use of
internet, company can grab many opportunities prevailing in the market for rentals. Along with
that, Enterprise Rent-A-Car is having a big chance to increase its scope through having bigger
presence at the airports. In addition to this, by serving “Green” clienteles as well, customer base
can be increased.
However, on the other hand, some limitations of Enterprise Rent-A-Car has also been
found like being in car rental industry, company is having high maintenance and repair cost as
well as its operations are capital intensive. Major weakness of business is that it is having no
one-way rentals. It has also been found that with increasing prices of fuel, company may have to
bear high cost in the future (Jung, 2011). High level of competition can lead to switching over of
customers to other firms if suitable strategies will not be made time to time. Also, there is
downturn in the car markets where vehicles are earlier used which can serve as a threat for
business. Presently, to survive in the long run, companies in this sector are doing mergers and
acquisitions. So, increased scope of these firms may prove to be a risk for Enterprise Rent-A-
Car.
CONCLUSION
It can be articulated from the above report that business analysis plays a significant role
in making the firm effectually run its operations and become successful by coping-up with its
weak areas and gaining competitive advantage through using its strengths. Tools like SWOT and
PESTLE analysis along with Porter’s Five Forces Model used for assessing external operating
environment proves to be helpful for Enterprise Rent-A-Car in order to evaluate its strengths and
weaknesses as well as to make the business able to face challenges in a healthy way. Report has
also assessed that there were some management issues being faced by the owner of cited
organisation. However, through using successful approaches like VARK and Belbin’s theory,
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company can resolve the same effectually. Thus, it can be said that, if proper emphasis is not
given on business analysis, firm may have to face severe consequences.
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PART 2
Personal reflection on key skills areas based on learning experience
While working in Enterprise Rent-A-Car, I have developed leadership skills which are
the reason behind my career growth. By working in the organisation, I felt that there are many
skills which are required in the employ to function effectively in the firm. As it is the car rental
organisation, it requires negation, intellectual skills etc. At the time of working, I found that, all
the employees work with cooperation and besides this the interesting thing is that all the
employees’ rulers and policies are followed by Enterprise Rent-A-Car. I found challenging that
how the employees are able to carry out the work so effectively because, the entire task are done
on the computers by using different application skill. This was the aspect which was frustrating
for me because I was not able to work with that ease with new technology. Besides this, I
realized that for achieving cooperation and coordination in the organisation, it is significant for
the HR to have problem solving skill. While working as HR manager I realized that there are
basic skills in which I am not that good and I required developing that. One of the most
important aspects is working with others. I am not comfortable with working with other
employees. This is because the thinking and the perception does not match which impact on my
work. So I am required to develop the attitude through which I can work in a team effectively.
Besides this, another skill which I lack is the numeracy skill as a HR I need to apply some of the
concepts to solve problem occurring in company. There are simple calculations which are
required to be done by me. For this thing, I take a lot of time. So, I need to develop efficiency in
the numeracy aspects.
On the other hand, with the up –grading technology all the organisations are becoming
techno-savvy so as Enterprise Rent-A-Car. Most of our operations are done on the computers
and because of it I find problem in performing the task on the gadgets. For calculating the salary,
software and applications are installed but because of the inadequate knowledge I am unable to
use. Through manual performing the task it consumes lot of time. So, I need to learn new
technology so that I can apply in my work. For developing all these skills I have made an action
plan which will help me in developing my lacking skill.
SKILLS REQUIRED ACTIONS TO BE TAKEN TIME FRAME (SMART
OBJECTIVES)
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Communication skill For developing the communication
skills I can join the classes where
how communicate with others are
taught. I can read books as it will
help in developing by skill.
It will take around 3-4 months for
improving 10% in my
communication.
ICT skills For upgrading the knowledge in
the technological field, I will join
coaching institutes. There are
many courses through which I can
learn new application and
software.
The courses are generally more
than 6-7 months. I will be able to
see 20% growth.
Numeracy skills I have basic knowledge regarding
the numeracy skill but I do not
know how to apply it. So for this, I
will do calculations without the
calculator. This will help in
building the numeracy skill.
It will take around 1-2 months for
developing 10% improvement in
my skill.
Problem solving skills I will read more books regarding
problem solving skills.
Around 3-4 months in developing
15% amendment in the skill.
Working with others I have to develop cooperative
nature and require to make
adjustments at the time of working
This will take around 1 month in
developing 10% improvement in
the skill.
VARK Model of Learning Styles
In order to develop my all personal activities as per the self-assessment analysis that are
related to my key employability skills being the HR manager, VARK model will prove to be
helpful for me in learning. This model identifies four learning preferences that used for making
individuals learn in their own way in which they get best comfortable. These styles are:
Visual – It is supposed to be the best learning style in which individuals learns by seeing
the objects, graphics, charts, diagrams, videos, hand-outs, etc. Through visual learning style, it
becomes easy for people to remember things easily and keep in mind for a long time.
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Auditory/Aural – It says about the people who learn in the best way by hearing
information like in lectures, seminars or conferences. They generally remember things in an easy
way as well as in fast manner if it is told by someone.
Reading/Writing – On the other hand, it states that many people are there for whom
grabbing information is easy by either reading or writing. They can only feel comfortable in
learning something while they see information displayed in words or when they write it by
themselves.
Kinaesthetic – People who learn things by practically doing the same are known as
kinaesthetic learners. These learners do not believe in what they see or hear as their trust gets
developed only after when they practically perform some activity (VARK Learning Styles, 2016).
For me, visual learning style proves to be the best option for grabbing information in an
easy and fast manner. This model proves to be very helpful for making me understand the style
through which I can learn in the best effective way. On the other hand, being the HR manager,
this model will help me in assessing other’s way learning as well through which I can train them
well to attain the common goal of Enterprise Rent-A-Car.
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REFERENCES
Books and Journals
Bromley, C. H. and Virji, S. A., 2010. Application modifier based on operating environment
parameters. U.S. Patent 7,644,262.
Fok, K., Hwang, J., Yip, E. C. C. and Lushin, M. A., 2012. Providing secure inter-application
communication for a mobile operating environment. U.S. Patent 8,225,093.
Fok, K., Yip, E. C. C. and Lushin, M. A., 2011. Providing event-controlled continuous logging
for a mobile operating environment. U.S. Patent 7,890,299.
Ghodrati, B., Benjevic, D. and Jardine, A., 2012. Product support improvement by considering
system operating environment: A case study on spare parts procurement. International
Journal of Quality & Reliability Management. 29(4). pp.436-450.
Haun, C. K. and et.al., 2010. Providing a reliable operating system for clients of a net-booted
environment. U.S. Patent 7,849,169.
Haykin, S., 2012. Operating environment analysis techniques for wireless communication
systems. U.S. Patent 8,224,254.
Hopen, C. and et.al., 2010. Provisioning an operating environment of a remote computer. U.S.
Patent 7,779,469.
Jung, J. H., 2011. Background synchronization within a multi-environment operating system.
U.S. Patent Application 12/983,908.
Roederer, M., Nozzi, J. L. and Nason, M. C., 2011. SPICE: Exploration and analysis of post‐
cytometric complex multivariate datasets. Cytometry Part A. 79(2).pp.167-174.
Roed-Larsen, S. and Stoop, J., 2012. Modern accident investigation–four major
challenges. Safety science. 50(6). pp.1392-1397.
Szczupak, A. and et.al., 2012. Living battery–biofuel cells operating in vivo in clams. Energy &
Environmental Science. 5(10). pp.8891-8895.
Online
Enterprise Recognized for Supplier Diversity Program. 2014. [Online]. Available through:
<http://www.autorentalnews.com/news/story/2014/09/enterprise-recognized-for-supplier-
diversity-program.aspx>. [Accessed on 11th November, 2016].
Enterprise Rent-A-Car. 2016. [Online]. Available through:
<http://www.fleetmanagementmarketplace.com/company/156709/enterprise-rent-a-car>.
[Accessed on 11th November, 2016].
VARK Learning Styles. 2016. [Online]. Available through: <https://www.verywell.com/vark-
learning-styles-2795156>. [Accessed on 11th November, 2016].
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