Unit 1 External Factor of Business Environment Assignment

Introduction

The Business environment is the sum of the internal and external environment it affects the organisation in various ways either positively or negatively. The overall growth of a business depends on both these factors. The current study depicts the purpose of different kinds of organisations in the market and the functions of various kinds of organisations in the market. The report explains the structure, size and scope of the organisation based on business objectives and the impact of the web of interrelationships between the organisational functions. It evaluates the positive and negative impact of the macro environment on the business operations and identifies the strengths and weaknesses of the organisation by conducting internal and external analysis. The Business environment explains the strength and weaknesses that are attached to the external factors and conduct the PESTEL and SWOT analysis of the factors that affect the organisation's behaviour.

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Part1

Different organisation has different objectives to maintain their position in the market. The objective of the organisation depends on the operation of the business it helps the management to meet the demand of consumers. The main objective of the organization is to fulfil the demand of customers and employees in the market and then earn a profit. The organisation must meet the desires of its employees by providing quality services and products to its customers. Hotel Marriott is focused on retaining the customers in the organisation to retain them management provides quality services to the customers. Hotel Marriott is focused on meeting the demands of stakeholders by providing timely dividends to them. Management has the liability towards all the creditors like suppliers, customers, raw material providers etc. Many organisations depend on the stakeholders for financial assistance so it is the liability of the organisation to meet the demand of the stakeholders. Generally, stakeholders are classified into two categories internal and external stakeholders (Oyewobi. et.al.2013). The objective of an organisation is the short-term and long-term that has to be accomplished in the defined time. Hotel Marriott has to accomplish the objective in the defined time by which management can easily meet the demands of clients.

Different organisations are connected thus they provide quality services to the customers. For example Hotel Marriott and TUI group quality services to the clients. The merger for services is an example of an interrelationship among the organisation that results in the serving of quality services. The organisational structure of both organisations is related to each other because the clients of both organisations are the same and management has to give services to them like hotel facilities, food facilities, transportation facilities etc. This kind of service connects the organisation in the context of services. The main advantage of the interrelationship between the organisations can provide quality services to the clients and management can easily manage the employees for better services. For better services better relationship among the organisation is necessary and thus they can satisfy the demand of customers. The main disadvantage of interrelationship among the business is cultural differences thus employees are not able to adjust to the working environment of another organization. Another disadvantage of interrelationship dependency on another organisation due to which delay in services and it may affect the profit margin of both organisations (Loorbach and Wijsman, 2013). Overall it can be said that the management of both organisations is focused on earning more profits and customer satisfaction. The merger among the organisation is proof that both the business wants to increase the market share and also wants to raise the efficiency of employees to increase the profits. Quality services are another criterion for retaining clients in an organisation. In the overall essay, it can be said that Hotel Marriott and TUI group are paying attention towards increment in market share by merging the services and clients so they can easily compete in the marketing management.

Part 2

Section 1: Positive and negative impact of the macro environment on the business operations

Macro environments are the factors that affect the organisation from outside the boundaries of the organisation. It can be said that this kind of factor affects the organisation at a large level and also increases the market share of the organisation. The major changes in the organisation can be caused with the help of macro factors. It is the way under which management can identify the competitors and easily asses their policy to sustain in the market. Macro environment factors assist Hotel Marriott in identifying the pricing policy of different organisations thus they can set the prices of the services according to the prices of competitors. The positive outcome of macro environment analysis is that it clearly defines the market position of the organisation and ates the customer perception towards the organisation. Management can identify the competitors in the market and get better control over the operations. To raise capital management can easily identify the stakeholders for the organisation. It helps the management to evaluate the overall performance of the organisation by comparing it with the performance of competitors (Holden, 2016). The negative impact of the macro environment is that without proper analysis of macro-environmental factors management may not be able to make the proper judgment. Wrong analysis may affect the whole profit ratio of the organisation. Another impact is that management is not able to identify the competitors in the market and may lose the market share of the organisation.

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Section 2: Internal and external analysis to identify the strengths and weaknesses

Internal and external analysis helps the organisation to identify the strengths and weaknesses of the Hotel Marriott. Internal analysis assists the management in identifying the weaknesses of the organisation as well as helps the organisation eradicate the weaknesses by implementing a suitable policy. The internal analysis facilitates the organisation to develop the internal operations of the organisation thus they can achieve the organisational goals. The management can identify the internal issue with the help of internal analysis. This is an effective tool that helps Hotel Marriott to identify the problems of the employees and try to solve that problem. Internal analysis reveals the reason that what are the causes of low productivity in the organisation and what are the ways to improve productivity. The analysis helps the HR department to identify the strength of the organisation thus they can compete in the market. External analysis facilitates the organisation to identify the external weaknesses of the organisation by doing different kinds of analysis like PESTEL, SWOT etc (Nijssen and Frambach, 2013). The analysis assists the organisation in identifying the USP of the organisation that differentiates the business from other competitors in the market. For instance, the business strategy of Hotel Marriott is different from the other competitors in the market and management would easily survive in the market. It can be said that internal and external analysis is the best way to evaluate the overall performance of the organisation and create a benchmark for other organisations serving quality services.

Section 3: Strength and weakness are linked to the external macro factors  

The strengths and weaknesses of the organisation are linked with the external macro factors because in some cases organisation may be affected by outside factors. The organisation is not able to identify various factors that affect the management's decision-making directly and indirectly. So these macro factors can be identified with the help of external macro factor analysis. Strength and weakness are the opposite factors that give power and weakness to the organisation. Proper analysis of these two factors gives different kinds of achievement to the business. Both factors are interrelated to each other and they may increase the risk of external macro factors in the organisation. Macro factors may affect the organisation from outside the boundaries of the organisation and affect the business positively and negatively. Macro factors are analysed with the help of PESTEL analysis political factors may affect the organisation in political ways like government pressure thus organisation increases the weakness of the business. Social factors may negatively affect the business like the CSR responsibility of the organisation thus the business is liable to do social activities (Tong. et.al.2015). Social responsibility is the duty of every business and in financial terms it can be a weakness for the organisation. PESTEL analysis facilitates Hotel Marriott to evaluate the external factors and try to find a suitable alternative to overcome these kinds of hurdles. External factors consist of competitors' policies, market changes, government policy, legal rules and regulations etc. 

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Section 4: SWOT and PESTEL analysis to develop an in-depth understanding of the impact of the macro environment

SWOT analysis is the best way to identify the strengths, weaknesses, opportunities and threats if the organisation is not able to identify these factors then it will become a serious issue for the business. SWOT analysis is the best tool that facilitates the organisation to identify the internal and external factors in the organisation and to evaluate them according to the requirements of the organisation. SWOT analysis is the best way to identify the opportunities in the market and try to evaluate the issues that have been faced by the business to achieve the desired goals.

PESTEL analysis facilitates the organisation to identify the political, economic, social, technological, environmental and legal factors that affect the business internally and externally. This kind of factor affects the business in different kinds of issues like government interference, social barriers, technology gradation, cultural issues etc. PESTEL analysis gives a brief about the macro level factors that affect the business from outside the boundaries of the organisation and tries to improve them by conducting the PESTEL analysis (Brotherton, 2013). It is the best tool for Hotel Marriott to identify the rivalries in the market and try to set the policy according to their set policy. With the help of this tool, management can easily compete in the market.

B. Reflective statement

As per the report, I identify that Hotel Marriott is focused on achieving organisational goals by fulfilling the demands of the customers. The organisation is meeting the objective of all the stakeholders in the organisation by which they feel motivated and retain with the organisation for a longer tenure. I have observed that the organisation is meeting the short-term and long-term objectives by providing quality services to the clients. For quality services to the present clients Hotel Marriott and YTUI group merge the services and they are serving quality services to the clients thus all the customers of both organisations are getting quality services. As per the report I have observed that SWOT and PESTEL analysis is the best tool that gives brief about the services of the organisation and also motivates the organisation to serve better. The internal and external analysis helps the management to identify the strengths and weaknesses of the organisation thus they can propose quality services to the clients. I have learned how to maintain a position in the market by analyzing various trends in the market. It is the best way under which management can evaluate the overall performance and try to find out the drawbacks of the services thus they try improving the services. Both the tools are effectively used by the organisation thus they can identify the problems of the customers as well. The tools used by the organisation are helping the new entrants in the organisation to serve better and try to find out the best alternative for the problems of the organisation.

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Conclusion

The current report explains the current trend of the market and various ways to identify the strengths and weaknesses of an organisation. The study identifies different objectives of the organisation tries to fulfil the demand of customers in the organisation and evaluates the overall performance of the organisation with the help of PESTEL and SWOT analysis.

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References

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