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Business Analysis Assignment - Rent-A-Car enterprise
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Added on 2020-02-14
Business Analysis Assignment - Rent-A-Car enterprise
Added on 2020-02-14
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Individual Report andReflection
TABLE OF CONTENTSPART 1............................................................................................................................................1INTRODUCTION...........................................................................................................................1Ways in which business is impacted by the external environment influences............................1Findings from research................................................................................................................5CONCLUSION................................................................................................................................5PART 2............................................................................................................................................6Personal reflection on key skills areas based on learning experience.........................................6VARK Model of Learning Styles................................................................................................7REFERENCES................................................................................................................................9
PART 1INTRODUCTIONBusiness analysis is an important aspect of every kind of business which is done with anaim to help the firm in increasing its revenues and cutting excess waste. In today’s era, it hasbecome significant for every company to do business analysis time to time so that firm’sstrengths 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 onewill 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 SWOTand PESTLE as well as Porter’s Five Forces Model will be used to assess the competitiveposition of business. For this purpose, the firm, Enterprise Rent-A-Car has been chosen that is anAmerican car rental company based in United States (Enterprise Rent-A-Car, 2016). In thesecond part, personal reflection on the basis of learning will be given. Ways in which business is impacted by the external environment influencesIndustry dataA car rental or care hire agency is an organisation which gives their automobiles on rentfor a short period of time that is mainly ranging from few hours to some weeks. These companiesgenerally have numerous branches that allows a customer to return the vehicle after specificduration at any other location of the same firm. This industry serves people in many ways likegiving temporary vehicles and offering extra products such as entertainment systems, portableWI-FI, insurance, etc.Key stakeholders of Enterprise Rent-A-CarMajor players in car rental firms are customers, suppliers and competitors who play avital role in making organisations able to run their operations in an effectual manner. For thecited organisation, these stakeholders are explained as follows:Customers – Enterprise Rent-A-Car believes in providing complete customer satisfactionwhich is their principle. As per this goal, the firm is sustaining in the market since a long timeand still it is having the same objectives (Jung, 2011). This is the reason; customers of this1
organisation are highly satisfied. Since the time they initially started their business, they areproviding a level of service which is making customers back to their flagship stores again. Inorder to serve customers with high quality services, company is hiring smart, motivated men andwomen in their management training program. Suppliers – Fir nearly 60 years, Enterprise Rent-A-Car is working for delivering the bestcar rental experience to customers. It has built trust and confidence among people which isserving as a competitive advantage to the firm. However, in the growth of business, local andglobal suppliers of Enterprise Rent-A-Car played a significant role as they have been the criticalpartners that helped organisation in attaining its vision of offering society with excellentcustomer service (Enterprise Recognized for Supplier Diversity Program, 2014). Company ishaving healthy relations with their suppliers with maintaining commitment to local communities.Organisation has selected those suppliers who uphold the highest standards of quality, legalcompliance, honesty and respect for human rights. Apart from that, suppliers as well as companyboth 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 waythat business can sustain in the long run. Competitors – Cited organisation is having its competitors like Alamo Rent a Car, TheHertz Corporation, Penske Truck Leasing, U-Haul Co and National Car Rental through which itis having threat (Fok, Yip and Lushin, 2011). Company is facing intense competition formrivalry firms in the market due to which it is required for business to keep bringing innovationand creativity so that customers can be retained in the long run. PESTLE analysis of Enterprise Rent-A-CarThe very first stage of market analysis of any firm is to assess the external environmentalfactors that put their impact on the operations of business. In order to do the same, tool ofPESTLE analysis is the best suitable. By analysing the macro-environmental factors, EnterpriseRent-A-Car can grab the potential opportunities as well as level of risks can be minimized to ahigh extent. It is explained as below:Political and legal – When government changes, it put a huge impact on functioning offirms. In the similar way, at the time when there is change in political parties, Enterprise gets2
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