These essay discuses about the strategic business environment in India, and the parameters that ay business organization has to consider to grow and sustain in the competitive market. Kew and Stredwick (2005) says, “Business environment is the conjugated string of internal and external factors that acts as the most significant key to the present and the future functioning of any business organization”.
So this is market research to show an analysis of the internal and external i. e. the micro and the macro business environment. The job of this essay is to evaluate the business environment components for better understanding of functions and to show how the hospitality sector in India deals with all this factors for sustainable development and customer satisfaction. India is a major and a well known hub for tourism of all kinds and also the hospitality it offers.
The huge historic values, diverse culture, intense political condition, high environmental issues, fluctuating economy, overgrown population and mixed market makes this country a more complicated and competitive environment for business establishments trading in hospitality sector, especially the hotels. Thus application of analytical theories is beneficial for finding close solutions to all the problems related to the business environment components. These analyses could be established on the SWOT analysis for
The Essay on The business environment. PEST Analysis
Logica is an innovative IT services organization which brings technologies, people and business together. It has clients globally in various industries; automotive, gas, oil and manufacturing. Its aim is to add value for clients via, for instance, reducing waste or improving productivity and efficiency. Political factors This refers to the various ways and to what degree does the ...
internal factors, like the strengths, weaknesses, opportunities and threats possessed by the hotel and the PESTEL analysis for the external factors like the political, economic, social, technological, environmental and legal factors affecting the business of the hotel. According to Molina et al (2010) “Business environment analysis is an aid for an organization to plan and frame trade structure in order to battle the competitors flourish in competitive business market.
” According to Jain et al (2010) “Micro environmental factor consists of keys that lay on the internal structure of the business and affects in directly”. Depending on these the hotel creates and alters approaches to control their market and rum the commerce effortlessly. According to Nieuwenhuizer and Rossouw (2009) “Macro environment consists of factors that are afar of the power of the business management and thus the development and growth depends on the adaptableness of the business association.
” Evaluating these factors helps to create an arrangement so that they can be used for the hotel’s advantage and also consider the political, social, environmental, economic, legal risks that might cause business collapse. According to Campbell and Houston (2002) “Market is a place where goods and services are sold by sellers and bought by buyers against a price in form of cash or kind”. Understanding market and market segmentation can fetch more trade as India is a country with diverse social and cultural positions requiring different criterions for services and value for money.
Varied types of hotels can attract consumers from all the segmentations and capture the entire population as well as the external tourists An evaluation of the business environment thus gives a power of market speculation and in turn helps in framing of business functionality. It not only helps in changing environment adaptation but also in economic stability and growth for the business REFERENCES Books Kew, J and Stredwick, J (2005)’ Business management- managing in a strategic context,’ London, Chartered institute of personnel and development.
The Term Paper on International business environment 3
Venturing into new business and market frontiers like Malaysia requires extensive understanding of the environment in terms of the political establishment, business potential, legal and regulatory framework, and availability of resources, socio-cultural aspects and to an extent geographical position and infrastructural development of the country. The research and analysis of these key and crucial ...
Campbell, D. Stonehouse, G and Houston, B (2002)’ Business strategy,’ London, Butterworth- Heinemann. Jain, T. R. , Trehan, M. and Trehan, R. (2010-11) Indian business environment, Delhi: V. K. (India) enterprises. Nieuwenhuizen, C and Rossouw, D (2008)’ Business environment- a contemporary approach,’ South Africa, Juta & Co. Journals Molina, V, B. Amado, J, B. and Arostegui, M, N, P. (2005) ‘Managerial perceptions of the competitive environment and dynamic capabilities generation’, Industrial Management & Data Systems, 110 (9), pp1355-138
