How to Write Contemporary Development In Business and management
Today with the rise of competition, it becomes necessary for companies to create changes in business activities. In this regard, the interface of internal and external environments has great importance in the development of the organisation. It assists companies to make adjustment in business as per demand of customers. For contemporary development, it is essential for organisations to concern on those factors which influence their function. The present assignment is divided into two main tasks where first part will make a discussion on internal and external environment. While second task will highlight how demographic factors like demand of ethics and CSR activities influence company's policies. For this purpose, The Pig Hotels of UK is chosen which deals in hospitality and tourism sector. This corporation includes a collection of some small lifestyle hotels and restaurants. These hotels are divided into two main groups, that are- Home Grown Hotels and Lime Wood Group.
Influence of external forces on working of The Pig Hotels and importance of each factor on the working of organisation
Hospitality refers to service industry where products are served to customers for getting their high satisfaction. Exceeding expectation of guests is one of the major trends in service industries. Due to this trend, hospitality and tourism industry is considered as the fastest growing sectors in UK. In context with The Pig Hotels, it is a part of Homegrown Hotels Group which believes that providing effective services to customer, helps in getting high retention of them. With this regards, main strategy of this hotel is based on a single line tag- Thank You from The Pig'. This organisation mainly targets to leisure and business travellers. There are various factors present in business environment that influence policies and strategies of this hotel. It includes political laws, economical fluctuations, socio-economic factors and more. It is the responsibilities of management of this organisation to identify such aspects. In the process of identification of such factors and their impact on its decision making activities. By conducting PESTLE and Porter 5 force analysis, managers of this company develop effective strategies and understand importance of the same for running business successfully.
Mission of The Pig Hotels: To increase the satisfaction level of tourists by creating unsurpassed vacations and leisure experiences.
Vision of The Pig Hotels: To become one of the premium providers of leisure as well as vacation experience in UK.
Financial Report: Among newest hotel, turnover of Pig Brand is increasing at rapid rate i.e. near about 20% or £17.1m, with pre-tax profit reducing from £969,813 in 2015 to £40,004 last year. This hotel also repeated its success from 2015 with the highest occupancy at 96%. This has increased revenue from 2.2% to £4.7m. Along with this, on daily basis, this hotel serve approximate 166 customers (Demand for the Pig remains high as turnover increases 20%, 2018).
PESTLE Analysis: Political factors: The Pig Hotels mainly operate its business in UK only. But now it is going to launch some more new hotels and restaurants in other countries also. Since every nations have distinct political rules and conditions which influence operational activities of business. Therefore, before opening any new restaurant, managers of this hotel needs to determine impact of such factors on its policies. It includes interference of government, political stability, in hospitality industry, intellectual property and more.
Importance: By identifying these factors, managers of The Pig Hotels can determine which government policies are in favour of business. This would help in forming effective policies and prepare plans for launching hotels in other countries more adequately. With this adherence of political laws, help in reducing legal actions and penalties.
Economic factors: It is considered as one of the main factor which impact on entire functions of business. In context with hospitality industries, any economical crises will directly affect their business. It includes high taxation, inflation rate and interest rate, foreign exchange currencies and economic cycle. This would aid affect behaviour of customers also because deflation and low level of income create adverse impact on their purchasing power.
Importance: Having knowledge of economical situation of marketplace. aid managers of The Pig Hotels to make plans to overcome from such conditions. They can make attractive proposals to gain interest of investors towards its business expansion. They can focus on overseas business and funding their business through FDI.
Social factors: It creates a huge impact on business of hotel industries because such organisations are needed to offer products as per preference of tourists. Due to this factor, The Pig Hotels are needed to identify the demand of targeted customers and offer services accordingly.
Importance: Determination of social factors like unemployment rate give chance to The Pig Hotels to get high skilled workforce on low salaries. By giving high job opportunity, this organisation can get high support of public in enhancing its brand image.
Technological factors: This factor give various benefits and opportunities to organisations deal in hospitality and tourism sector to promote business. With every new feature in technology, it assists The Pig Hotels to replace existing techniques with new one. Thus, this would directly impact on budgetary control policies of this hotel. But ignoring this demand also reduce chance of sustainability and get competitive advantage as well.
Importance: In order to promote business and enhance sales volume, The Pig Hotels need to introduce best technology within business. It helps utilising limited resources in optimum manner and improve position of business in marketplace as well. This would also give opportunity to provide high accommodations like Wi-Fi services, 3-D gaming zone and more to tourists.
Legal factors: This factor includes laws and legislations established by UK government regarding operation of hotel industry. It includes Health and Safety Act 1974, Equality Law 2010, Development of Tourism Act 1969 etc. As per this law, it is essential for The Pig Hotels and other organisations to provide safe and healthy environment to tourists. They must ensure that whatever services offered to guests like Food, Spa, Swimming facilities and more, should be of best quality. This hotel must concern on privacy of tourists and implement safety tools within hotels. It includes fire extinguisher, Emergency Exits, Emergency Helplines in every room etc.
Importance: Benefits related to consideration of this law by The Pig Hotels is helps in offering best services to tourists. Be concerning on laws and legislations, this hotel can prevent its business from illegal activities and provide good accommodations to its guests. It can also maintain long term relation with its employees and other stakeholders by running business as per legal laws.
Environmental factors: It consists laws and norms related to environmental adherence which impact on production of organisations. This would assist The Pig Hotels to make participation in CSR activities for reducing air and water pollution, environmental pollution waste management etc.
Importance: By making investment in CSR activities, this hotel can gain high attention of its customers. It can also bring attention of people towards business operations, which would help in improving sales performance and generating high revenues for successful growth.
Porter's Five Force Model:
TASK 2 2.1 Corporate Social responsibilities of The Pig Hotels Corporate social responsibility is considered as the business approach which helps organisation in building up its own sustainability by contributing in the development of environment. These activities are especially done for purpose of contributing their shareable amount to the social causes in order to improve social condition of country. With the changing business scenario, CSR activities have become trend for the business organisation in order to show up their responsibility towards the society. CSR activities are often adopted by organisation in order to improve their brand name at market place. In relation to the PIG hotel, this organisation can adopt certain CSR activities in order to enhance its goodwill at market place for the purpose of increasing its sustainability. For this, its manager have conducted an deep study on CSR activity and its influence over economy.
As per the analysis, it has been identified that this organisation is dealing in the hospitality industry which requires a good brand image in order to influence trust of customers towards them. It has been evaluated that this hotel owns large number of customers, buyers, clients, suppliers etc. which are directly dealing with company as well as its management team. Hence, it can be said that CSR activities are influencing decisions making process of the company so that they can achieve their targeted goals and objective of the company. These decision influences are described as below:
Customer is considered as the lifeline of the business therefore it is the responsibility of company to take effective actions in order to maximise the level of satisfaction of their customers. For this, the company first need to identity the needs and requirements of targeted customers and accordingly implement corrective actions in order to fulfil them in an effective and efficient manner. The company who become success of attracting large number of customers then it will directly help in building brand image and goodwill in competitive market. As the customers decide the business survival in competitive market therefore it is necessary for company to adopt various marketing strategies in order to attract them towards their products and services. Therefore it is essentially required of company to read consumer's mind and accordingly formulate decisions in order to bring maximum satisfaction to them.
Employee considered as an asset for company therefore play an important role in influencing the success of company. AS the company is large in size therefore the company also attain large number of employees who contribute their maximum efforts in achieving desired goals and objectives. They also influences decision making and productivity as well as the amount of distribution of products of company therefore the company need to implement effective decision for the betterment of their employees. The company should need to implement and develop various plans and strategies for the welfare of employees such as promoting the existing employees, offer incentives or rewards, compensations etc. which help in maximising the level of satisfaction to their employees through which their employees can contribute more to achieve organisational profit as well as social goals.
Investors play a crucial role in running business more smoothly and thus they also influences the financial stability of company. Therefore it is important for company to take care of their interest and willingness on timely basis. The company performs social activities helps the investors to decide whether they want to invest into the company or not and thus it is very influential to the company on large scale. Therefore Walker Rubber and Plastics Ltd. If perform social activities then it will help them in getting a good amount of investment from different sources. Therefore the company need to formulate their marketing and management plan in order to inform the large number of investors about their social activities so that the investors think of investing in business (Jeston and Nelis, 2014).
Competitors are considered as the threat to company and thus also influences decision making process of company. Therefore It is important for company to analyse their activities and accordingly formulate effective plans and policies that will help them in attaining strong position among their competitors. Therefore Walker Rubber and Plastics Ltd need to perform social activities in order to establish a strong brand and reputed image in competitive market world.
It is mandatory for every organisation to perform its business activities in effective manner which not improves their productivity but it also makes them feel good about themselves. For this, organisation also indulge into a many social activities that contributes in gaining them competitive advantage. In relation to the Pig Hotel, it is important for the hotel to adapt certain activities that contribute in sharing their responsibility towards society. This will support organisation in developing their goodwill at workplace. As a result, they can grab some better opportunities at market place.
In the modern business scenario, it is important for every organisation to perform their business activities in effective. But, the responsibility is not limited to this only. Organisation also have to include these activities in their marketing work too. As this will help, organisation to get support of the public too. In context to The Pig Hotel, marketing team of this company should use their all CSR activities in order to get support of public. This will help organisation in increasing number of loyal customers.
Demand for the Pig remains high as turnover increases 20%. 2018. [Online] Available Through: <https://www.thecaterer.com/articles/512823/demand-for-the-pig-remains-high-as-turnover-increases-20>.
: United Kingdom
: customer service management for tourism
Type of paper
Number of Words
: 3000 ( Pages: 12 )
Special note: the extra two folders are some resources for the project.
you can also have like resource
, \nhttps://www.etchuk.com/work/the-pig-hotel. is a brief document.
please read everything that is on the project folder.