Tourism and Hospitality: External Environment Analysis - Blog Post

This assignment delves into the significance of understanding the external environment within the tourism and hospitality industry. It emphasizes how managers must navigate the dynamic changes and complexities of the business landscape, including interactions with stakeholders, technological advancements, and the rise of online distribution channels. The assignment highlights the importance of comprehending the external environment to foster competitive advantages, make informed business decisions, and cater effectively to the needs of customers and other entities. It references key sources to support its claims. The assignment is presented in a blog post format, covering the Week 8 topic on the external environment. It stresses the necessity for managers to be versatile and knowledgeable to sustain and grow their businesses in the face of external pressures.

Assessment 3 Blog: Blog Entry for Week 8
It is quite important for managers in the contemporary or 21st century to comprehend the
external environment due to the fact that the business environment is actually changing rapidly
and it has also become complex not only based on the relationship terms but also in terms of the
transactions that occurs between various stakeholders(Inkson & Minnaert, 2018). The
understanding of the external environment by managers in the modern tourism and hospitality
industry is quite important because it will help such managers to become aware of the external
competition, customers, and other external factors such as vendors, regulatory authorities, and
operators and thus ensure that they are well empowered with relevant resources and information
that will fulfill their wants and needs (Paddison & Walmsley, 2018).
Managers in the modern Tourism and Hospitality must effectively understand or
comprehend the external environment since the emergence of technological changes coupled
with an increase in the use of the internet as well as the numerous “travel distribution channels”
call for such managers to have both highly versatile and knowledgeable managers (King, 2017).
This is important because it will help them to both sustain as well as grow their respective
businesses. In addition to that, understanding the external environment by the modern managers
in the tourism and hospitality industry will enable them to better comprehend the best business
strategy that can be used to attain competitive advantages.

References
Inkson, C. and Minnaert, L., 2018. Tourism management: An introduction. Sage.
King, C., 2017. Brand management–standing out from the crowd: A review and research agenda
for hospitality management. International Journal of Contemporary Hospitality Management,
29(1), pp.115-140.
Paddison, B. and Walmsley, A., 2018. New Public Management in tourism: a case study of
York. Journal of Sustainable Tourism, pp.1-17.