External Business Environment
This presentation is the property of its rightful owner.
Sponsored Links
1 / 15

External Business Environment PowerPoint PPT Presentation


Report on External Business Environment of Hotel Marriott by Assignment Desk UK

Download Presentation

External Business Environment

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


External business environment

External Business Environment


Introduction

Organisation operating in a country gets influenced by the number of factors such as political, economic, social, technological and environmental. Organisation operates accordingly under the influence of the socio- economic changes for the development of commercial organisation.

Introduction


Structure and operations of uk economy

Size: UK is the fifth largest national economy of the world thereby accounted as growing economy for the fastest growing industry for consecutively three years. With approximately 78% of share in service industries, UK has become a service based nation which is running significantly in fields such as education, hospitality, financial services and real estate.

Taxation: Taxation in country holds the considerable share in procuring revenue from people. It is processed at two levels; central and local government. Major sources of revenue are income tax, national insurance; value added tax, corporation tax, business rates and council tax.

Employees: Pioneering the use of advanced technology in each sector, UK has the wide stream of efficient and capable workforce with the specialization in their respective fields.

Structure and operations of UK economy


External business environment

TO BUY COMPLETE ASSIGNMENTVisit Us or Contact us:

Contact Us: +44 203 8681 670

Email:

[email protected]

Assignment desk providesassignment help & writing services from professional UK writers at affordable prices. This helps the students to submit their assignments within deadlines and score the best grades in it.


Strategies to find appropriate solutions

In the prevailing economic condition, Hotel Marriott has large scope of expansion and profitability. Under the influence of existing environment and situation, this group caters to consolidate large number of customers and trading partners to widen the horizons of its working (Liao, Chuang and To, 2011). With the aim to provide outstanding services and quality products, it adopts pragmatic approaches and use of suitable strategies such as hiring eligible employees in the organization, minimizing cost, adopting rational approach towards profit maximization by undergoing complete analysis of company and its existing scenario.

Strategies to find appropriate solutions


Current economic policy and its effect

Set of new fiscal rules balances the debt and deficits in the country and encourages profitability of the organizations operating in hospitality industry.

Prevailing interest rates and bank rates attract large investments to the sector with the expectation of high profit margins (Shaw, Grant and Mangan, 2010).

High value of pound sterling in the economy enables the Hotel group to hire efficient workers and employees from around the globe due to its economical nature.

British investment bank remedies the need of infrastructural investments and capital needs. Ease of procedures and processes, business entities are able to invest more in the section due to lower degree of risk and failure.

Economic policy of the Government and other legislative bodies enables the organization to deal with the employees related issues such as their salary, wages, bonuses and others in efficient manner and complies the hotel group to abide with them (Trkman, 2010).

Current economic policyand its effect


External business environment

Occupational: Hospitality industry works in an integrated manner with the inculcation of several components in it. This sector is segmented into parts such as its service user, service providers, patrons and workers. Tour groups, travel agents and other agencies are the organizations that form the base of industry on which it as a whole stands (Legal framework, 2016). Staff and employees in operational management of these firms are workers who are directly linked to the customers. Patrons or travelers are the service users. They avail the benefit of all the facilities and entertainment options that are provided by the service providers.

· Income: Distribution of income in the industry plays a vital role in the sector. Special consideration is kept by the organization with respect to the need and preferences of the users and accordingly services are provided. For instance, different packages are offered as per the budget, services are differently accommodated to the economical class and elites.

· Employment:Industry running in the integrated manner comprises various services such as accommodation, entertainment, food, financial services and other. For that purposes, employee distribution is done accordingly as per the proficiency and the functional areas.

Income, employment and occupational distribution in relation to the provision of business and services


Appropriate findings

Income and wealth share of hospitality industry in UK's GDP is of about 10% along with the 14% of the total employment. Considerable share is spent on the consumer goods and services by the supply chain management (Wang, Chen and Chen, 2012). Further, to provide the personalized and thoughtful services to the customers, eligible employees are hired that is 755,000 jobs are there across UK in this industry.

Appropriate findings


External business environment

TO BUY COMPLETE ASSIGNMENTVisit Us or Contact us:

Contact Us: +44 203 8681 670

Email:

[email protected]

Assignment desk providesassignment help & writing services from professional UK writers at affordable prices. This helps the students to submit their assignments within deadlines and score the best grades in it.


Demographic patterns that influences employment patterns in hospitality industry

Demography of country is stated in terms of factors such as age, educational background, gender, marital status and other related aspects. Seeking the precise analysis of factors affecting employment patterns of hospitality industry, it accounts significant relevance of demographic patterns prevailing in the country.  On similar account, following inferences can be made:

Educational background: With varied educational backgrounds and functional areas, employees are appointed as per their strengths and core areas. Training programs and development sessions are organized.

Cultural backgrounds: In the recent times, no workforce is homogeneous in nature. Organization appoints eligible employees from varied sections of the world having different cultural, economic and religious backgrounds (Al-Debei and Avison, 2010). Hotel Marriott is a leading chain of hotels established in different countries. The group brings adaptability for the employees and staff with the culture and work. Diversity in employees leads to the adoption of cross leadership management by the senior management.

Demographic patterns that influences employment patterns in hospitality industry


Appropriate methods and techniques

Diverse and heterogeneous workforce will be managed by the efficient senior management. It can be processed by appointing separate team of expertise and specialist professionals. The recruitment and selection process is made to hire the most capable employees in the organization who foster the growth and development of Hotel group (Boons and Lüdeke-Freund, 2013).

Further, after appointment, it is imperative to conduct training and development sessions in the form of apprenticeships, conferences, seminars to enhance their skills and talents. Organizing counseling and mentoring of employees to address their issues with respect to work and their diversity helps to deal with different demographic patterns.

Appropriate methods and techniques


Social structure of people employed in uk hotel group

Management class

Management class is the elite section of the organization which comprises of senior most members. In the higher hierarchy, there is a CEO of the organization under which all the functions are performed under supervision. Hotel group is segmented into departments such as human resource, finance, marketing, food service operations and others (Drori and Honig, 2013). There is the board of directors who are responsible for the formulation of strategies and policies on which the organization is entitled to work and serve its customers. After that, each department is headed by senior managers who supervise all the subordinates for the accomplishment of goals and objectives.

Working class

It comprises the executing team which implements all the tasks and assignments given by the senior management. These are the employees who are directly connected to the customers. It has both skilled and unskilled labor. Skilled labor refers to the assistant managers, it specialists, receptionists, safety and security managers and others whereas unskilled workers are the office workers, low paid workers etc (Lee, 2011).

Social structure of people employed in UK hotel group


Conclusion

From the present study it can be stated that the fifth largest economy of the world UK has different sections such as taxations, employment, policies and legal aspects that affect the working of organisation.

Conclusion


References

Wang, C.H., Chen, K.Y. and Chen, S.C., 2012. Total quality management, market orientation and hotel performance: The moderating effects of external environmental factors.  International Journal of Hospitality Management.

Weske, M., 2012.  Business process management: concepts, languages, architectures. Springer Science & Business Media.

Wheelen, T.L. and Hunger, J.D., 2011.  Concepts in strategic management and business policy. Pearson Education India.

Wong, C.W., Lai, K.H. and Cheng, T.C.E., 2011. Value of information integration to supply chain management: roles of internal and external contingencies.  Journal of Management Information Systems.

REFERENCES


External business environment

TO BUY COMPLETE ASSIGNMENTVisit Us or Contact us:

Contact Us: +44 203 8681 670

Email:

[email protected]

Assignment desk providesassignment help & writing services from professional UK writers at affordable prices. This helps the students to submit their assignments within deadlines and score the best grades in it.


  • Login