"Macro And Micro Environmental Factors Which Influence Hospitality Industry" Essays and Research Papers

Macro And Micro Environmental Factors Which Influence Hospitality Industry

Macro and micro environments both fall into the categories of environmental scanning. The general scope of environmental scanning is that it is a component of global environmental analysis. While analyses are typically carried out on the macro environment, the micro environment still has an important role to play. In summary, the macro environment is involved with the industries, companies, markets, clients and competitors, while the micro environment can be represented by the suppliers, competitors...

Economic growth, Economics, Economy 1678  Words | 6  Pages

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Macro and Micro Environmental Factors Which Influence Marketing Decisions of Pepsico's Gatorade

Outcome 2.1 Show macro and micro environmental factors which Influence marketing decisions -Gatorade is not PepsiCo official product in Vietnam but it isn’t produced in Vietnam , it was imported from foreign country so the price of the product is higher and isn’t really suitable for Vietnam average income. There are two main environment elements which affect the price of the Gatorade: Micro environment -Competitors: There are many other products to choose in the soft drink market include...

Coca-Cola, Competition, Energy drink 755  Words | 3  Pages

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Macro and Micro environment: How external factor can influence marketing decisions.

Macro and Micro environment: How external factor can influence marketing decisions. Introduction While the managers making efforts to take advantages of their competitors on the on the inside business structure such as to cut the cost down by simplifying the staff group, the macro and micro factors are escaping detection. Unlike internal environment, the macro and micro environments of a business are not changed by the behavior of its own whilst it is hard for most firms to be ready for reaction...

Change, Competition, Economics 644  Words | 3  Pages

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Factors That Impact on and Influence the Organisation

Factors that impact on and influence the organisation The business environment is often an uncertain one, where managers are faced with many factors that impact on and influence the organisation. The micro-environment includes suppliers, customers and stakeholders, all of which influence the organisation directly. The macro-environment, however, includes factors that influence the organisation but are out of its direct control. The micro-environment is often determined by the industry the...

Customer relationship management, Customer service, Hospitality industry 1718  Words | 5  Pages

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Micro and Macro environment factors

marketing manager of Dynamic International Ltd. I will explain what are micro and macro environment factors and how do they affect his marketing decisions as well as consumer buying behaviour. I will propose him segmentation criteria, targeting and positioning for his products. Micro environment Micro environment consists of the different types of stakeholders outside the organisation. The constituents or stakeholders of the micro environment include customers, suppliers, creditors, distributors, dealers...

Business, Customer, Economics 1628  Words | 6  Pages

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Tourism and Hospitality Industry

IMPACT OF GLOBALIZATION ON HOSPITALITY AND/OR TOURISM INDUSTRY Globalization refers to the increments in the relationships of the people, industries, culture and various activities of economy. The term Globalization refers to the economics and all the global distribution of the production of goods and service which ultimately reduces the barriers of international trade like export fees, import quotas and various other tariffs, Cowen (2003). The Globalization has contributed to the growth of economy...

Capitalism, Economic growth, Economics 2402  Words | 7  Pages

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Macro Environment Factors

Macro Assignment Table of Contents 1. Introduction………………………………………………...3 2. Summaries……………………………………………….....3 3. Macro environment factors………………………………....4 4. Industry involved……………………………………….......5 5. Impact of the factors………………………………………..5 6. Conclusion………………………………………………….6 1.0 Introduction The purpose of this report is to demonstrate an understanding of the marketing macro environment. The proposed research question was: Identify the macro...

Central bank, Economics, Exchange rate 941  Words | 3  Pages

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Micro and Macro Marketing

MICRO AND MACRO MARKETING ENVIRONMENT Introduction Micro marketing Refers to the internal controllable factors or forces which affects the ability of a company to serve its customers. e.g. the organization, the market, the suppliers, market intermediaries and the marketing mix. The micro marketing environment that surrounds organisations can be complex by nature, however the company has an element of control over how it operates within this environment. Macro marketing Refers to the external...

Economics, Externality, Marketing 946  Words | 4  Pages

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Tourism Industry

expectations from travel service providers & their satisfaction levels towards the service providers used in past Part 1 1.Introduction Global travel & torism industry Travel and tourism industry India Unique characteristic of travel and tourism industry Part 2 2.Understanding the Marketing in travel and Tourism Factors Influencing Demand for tourism Global demand for travel and tourism Indian demand for travel and tourism Tourism in India has been on a steady rise for the...

Economics, Economy, Sustainable tourism 897  Words | 5  Pages

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Marketing and Environmental Factors

Macro-marketing “Macro-marketing literally deals with big/important issues, beyond comparatively simple exchanges between buyers and sellers, or even relationships between companies and customers. In a more interconnected world of markets, marketers, and their stakeholders, macro-marketing is an important mechanism to study both opportunities and shortcomings of marketing, and both its intended positive effects and unintended deleterious effects. This suggests macro-marketing includes an optimistic...

Business, Customer relationship management, Distribution 1300  Words | 4  Pages

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Assessing Work Place Violence Risk Factors in the Hospitality Industry

of a company is called global environmental analysis. This analysis is part of a company’s analysis-system, which also comprises various other analyses, like the industry analysis, the market analysis and the analyses of companies, clients and competitors. This system can be divided into a macro and micro level. Except for the global environmental analysis, all other analyses can be found on the micro level. Though, the global environmental analysis describes the macro environment of a company.[1]...

Analysis, Economic system, Environment 1819  Words | 6  Pages

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Macro-Environmental Research

Macro-environmental trends.  This portion requires you to discuss and analyse the impact on the industry of the following factors (in case the industry competes in overseas markets, your analysis should have a corresponding dimension): ·         Social, cultural, demographic and environmental forces; ·         Political, governmental and legal forces; ·         Technological forces; and ·         Economic forces. Macro-Environment Definition Major external and uncontrollable factors that...

Analysis, Demographic economics, Demographics 1023  Words | 4  Pages

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Macro Environmental Factors

processes and performances ” with reference to a business organization of your choice and using macro environments factors only, comment on the validity of this statement.(25) INTRODUCTION Lancaster (2011) defines the macro environment as ’those global elements over which the organization has no control over but which affect the organization’s ability to serve its customers profitably.’ There are six major macro environment forces: cultural, demographic, economic, natural, political, and technological...

Biodiversity, Biology, Ecology 1511  Words | 4  Pages

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Marketing In Hospitality

Marketing in Hospitality Instruction As the senior sales executive for one of Hilton’s 5* hotels, we are located on Park Lane in the centre of the City of London. This is where many attractions in London are based. It is a friendly and attentive place to be, always ready to provide our guests with an enjoyable and memorable stay. Our hotel offers many facilities. For example; appropriate room sizes for families, business rooms and conference rooms. Task1 According to Dr P Kotler (2003) marketing...

Customer service, Environment, Hilton Hotels 759  Words | 3  Pages

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Macro and Micro Factors Affecting the Steel Industry

MACRO AND MICRO FACTORS AFFECTING THE STEEL INDUSTRY (TATA STEEL) The world GDP, as reported by International Monetary Fund, was on an upturn, growing by 5% in 2010 as compared to a negative growth of 0.5% in 2009. While the growth in the advanced economies was 3.0% in 2010,in contrast to -3.4% in 2009, the emerging and developing economies grew by 7.3% in 2010 when compared to the growth of 2.7% in 2009. The growth in the developing and emerging economies slowed down during the end of 2010...

Coal, Corus Group, Iron 1263  Words | 4  Pages

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Environmental Scanning of Hong Kong hospitality industry

Environmental Scanning Political This factor is normally affected by the strategy or agreement of government. In Hong Kong, not only the local government will affect the hospitality, also the China government. We analyze that there are two political issue which increasing the Hong Kong inbound tourism and business between foreigner to China. They are Closer Economic Partnership Arrangement (CPEA) and World Trade Agreement (WTO). China government opened the market to the world and accepted the...

Dollar, Economy of the People's Republic of China, Fixed exchange rate 1269  Words | 4  Pages

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Differences Between Micro and Macro Economics

Although there are other branches of economic study, micro and macroeconomics are the most well-known. Over the years, both have become an increasingly common part of high school and college-level curriculums. Despite their popularity, however, the principles of these disciplines are frequently misunderstood or confused. While they share some of the same concepts and are interrelated in important ways, there is a fundamental difference between micro and macroeconomics. The simplest way to distinguish...

Economics, Inflation, Macroeconomics 777  Words | 3  Pages

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hospitality industry

Holiday Inn & Hospitality Industry The hospitality is all about customer satisfaction and the industry is built on leisure and meeting different needs, the industry is set up with different services from hotels, airlines and all other systems in the travel and tourism which all fall in the realm of the hospitality industry. The hospitality industry is not only about hotels or restaurant but there is about 12 other different parts in the industry: Events Pubs or Bars Tourist...

Hampton Inn, Holiday Inn, Hospitality industry 1751  Words | 5  Pages

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Russia, Eastern Europe and The Middle East. We plan to expand our business into Brazil, Ukraine, Poland and Taiwan. Through the analysis we will try to look into several factors that we think will have an impact on our future investment plans. 2.0 INDUSTRY ANALYSIS: PESTEL FRAMEWORK 2.1 Political Factors: (a) Internal factors In India as in elsewhere politics and economics get intertwined quite often. Sudden ban on exports of products such as onion, rice etc. have an adverse effect on our business...

Economics, Food, Food industry 1498  Words | 5  Pages

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Macro-Environmental Factors in Vietnam

Macro-Environmental Factors Vietnam is a peninsula, which located in the Southeast Asia monsoon zone. Its long narrow territory stretches 1700km from north to south and in the center a mere 50km from east to west, the territory looks like a dragon stand at east of the Indo-Chinese peninsula. The coastline, which extends for 3260km, has fine beaches and archipelagos. It not only has beautiful landscape attracts countless tourists and also can get rich seafood, provided favorable conditions for raw...

Cambodia, Food, French Indochina 1120  Words | 3  Pages

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Market Economy and Macro Environment Factors

ELD/B/BBM/511/02740 YR OF STUDY: 2ND SEMESTER 3RD YR UNIT TITLE: CREDIT MANAGEMENT UNIT CODE: HRM 323 LECTURER: DANIEL NYAKERI ASSIGNMENT (CAT 1) Quiz: discuss the components of the macro environment and explain how they affect the organization you are working for? (20 mks). Macro environment factors are uncontrollable external forces that affect how a business operates. They are largely out of the control of the business, and often require changes in operating, management, production, and...

Economics, Environment, Environmentalism 2016  Words | 6  Pages

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Hospitality Industry Knowledge

Hospitality Industry Knowledge 1. List six sources of current industry information: - Media: Such as newspapers, television, magazines and radio. The media publicises current information, trends developing and any government initiatives. - Customers: By doing customer questionnaires this can inform enterprises as to what they need to improve, as well as which staff are working well. - Information services: For example the Australian Bureau of Statistics and Tourism NSW (all these services...

Australia, Australia Week, Federal government of the United States 1213  Words | 4  Pages

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political factors

Political factors Political risk, for examples the Gulf war and terrorism somehow damaging passenger confidence, particularly in the US. Presence of political support and lobbying for major EU/US aerospace businesses Support of EU aircraft manufacturer for Rolls-Royce Subsidies by EU government US tax breaks for Rolls-Royce Carbon emissions under the Kyoto protocol is targets for reduction by EU, creating pressures for reduced impact of air travel Policy formation for example Open Skies liberalisation...

Analysis, Economics, Inflation 912  Words | 4  Pages

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Micro / Macro Environment

Micro Macro A company's marketing environment is made up of the ACTORS AND FORCES outside marketing that affect marketing management's ability to build and maintain successful RELATIONSHIPS with target customers. The marketing environment is made up of the micro environment and the macro environment. The micro environment consists of the ACTORS CLOSE to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors...

Caffeine, Coca-Cola, Cola 886  Words | 4  Pages

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The Influence of Globalization on the Tourism Industry

tourism industry can be defined as a whole range of individuals, businesses, organisation and places which combine in some way to deliver a travel experience. A hospitality industry can be regarded as an industry which provides food, beverages and accommodation services. The Tourism and Hospitality industry has flourished even it has struggled to cope with difficult challenges (Cetron, 2001) and ‘globalisation’ may be the cause of this which is having a significant influence on the industry. The influence...

Hilton Hotels, Hilton Hotels Corporation, Hilton Worldwide 1819  Words | 6  Pages

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environmental scanning of Nintendo

Environnemental scanning Macro Environment Macro environment is said to be the most general layer of the environment. This consists of broad environmental factors that have an impact on the organization. The PESTEL framework helps us to identify the future trends which might impinge on Nintendo and therefore identify the key drivers of change. On the other hand the five forces framework helps to understand how the competitive dynamics within and around the video game industry are changing. PESTEL...

Arcade game, Atari, Economics 675  Words | 3  Pages

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Environmental Factors

Environmental factors can play a major part in a company's marketing plan. Environmental factors can include social, ecological, political, cultural, technological, and ethical issues. PepsiCo can face all these issues because they are a global company. Many of these issues can affect PepsiCo's marketing plan even in different areas of the United States. Larger environmental factors affect the way they market globally with different factors having to be considered in each area of the world. A company...

Environment, Environmental science, Environmentalism 1140  Words | 4  Pages

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Pestel Analysis of the Macro-Environment

Organization may have different degree of influence on each level and elements in each level may also have different impact on organization itself. The external environment is characterized in two ways. On one hand, the elements do not have an immediate impact on performance of an organization, on the other hand, organization may possess limit power to control them. The most popular framework examine the external environment is known as “ PESTLE” which stands for political,economic, socio-cultural...

Climate change, Economic growth, Economic policy 1841  Words | 5  Pages

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Micro and Macro Economics

MICROECONOMICS | MACROECONOMICS | As the term “micro” imply, microeconomics facilitates decisions of smaller business sectors.Micro Economics studies the problems of individual economic units such as a firm, an industry, a consumer etc.Micro Economic studies the problems of price determination, resource allocation etc.While formulating economic theories, Micro Economics assumes that other things remain constant.The main determinant of Micro Economics is price.Microeconomics is the study of decisions...

Economic growth, Economics, Inflation 833  Words | 3  Pages

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Nestle: Macro Environment and Micro Environment Analysis

environment they operate in analysis on the external factors that lie outside the control of Nestle has to be conducted (Grant et al. 2011, 101). The tool tasked with conducting an external analysis of the macro environment is PEST while the external micro environment will be analysed with the help of Porter's Five Forces. However it is worth mentioning that Nestle is not however exclusively influenced by the mentioned factors below (Shaw 2004). Macro Environment Analysis: PEST Analysis: Political:...

Complementors, Food, Porter five forces analysis 1015  Words | 3  Pages

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Environmental Factors of Marketing

Environmental Factors of Marketing This paper will discuss the five environmental factors that influence global and domestic marketing decisions that organizations must make. These five environmental factors are technology, demographics, government, culture and economics. Companies are affected differently by these factors depending on the industry they are in and the size of the organization. I will be using the Washington Plaza Hotel to illustrate how these environmental factors affect the...

Business, Environment, Hospitality industry 1300  Words | 4  Pages

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Hospitality Industry

Resource for Hospitality industry due to:  Unawareness regarding hospitality industry.  Lack of awareness create social status problem.  Lack of student counseling.  No knowledge about the departments of hospitality industry.  Poor knowledge about the institutes offering hospitality industry related courses.  No time management.  Carelessness regarding career.  Unawareness of self capabilities.  Lack of proper system to motivate people towards the hospitality industry. Problems in...

Hospitality, Hospitality industry, Hospitality management studies 1459  Words | 6  Pages

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Pestel: Hotel Industry

PESTEL/ PESTLE/ PEST Analysis of hospitality industry  Traditionally PESTEL analysis was known as the PEST analysis and only in the modern times did the use of the word PESTLE came into being. Social part of the PEST is split into environmental factors too as those have a significant role in the strategic management these days. Along with that economic factors are split into legal factors for the same previously mentioned reason. Political Environment “These refer to government policy such as...

Hospitality industry, Hotel, Hotels 1620  Words | 5  Pages

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Pestel: Pest Analysis and Factors

Social and Technological analysis''') describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. Some analysts added Legal and rearranged the mnemonic to SLEPT; inserting Environmental factors expanded it to PESTEL or PESTLE, which is popular in the United Kingdom.[1] The model has recently been further extended to STEEPLE and STEEPLED, adding Ethics and Demographic factors. It is a part of the external analysis when conducting a strategic...

Analysis, Management, Market research 1101  Words | 6  Pages

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Living in the Environment: Environmental Factors and Their Influence

Chapter 7: Living in the Environment: environmental factors and their influence Questions Introduction 1. Why is a Polar bear found living in a cold icy place and a fish found living in water, but not in other environments? Because it is their habitat in which they are adapted to. It has certain adaptations to allow it to survive in that environment and resources are available in the environment. 2. Give the definitions for the following words (the glossary at the back of the book may help...

Adaptation, Biology, Ecology 652  Words | 3  Pages

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Pepsi: Environmental Factors

Environmental Factors Antonio Presley University of Phoenix August 31, 2009 Abstract Every organization has rules, regulations, and guidelines that help govern the conduct of the employees, global and domestic marketing decisions, and environmental factors. PepsiCo, success can be affected by an internal or external environment analysis. An internal or external environment analysis is an analysis of the target market for a company's goods or services that can provide understanding of environmental...

Ecology, Environment, Environmental science 1028  Words | 4  Pages

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Pest Analysis of Macro Enviorment

PESTEL analysis of the macro-environment There are many factors in the macro-environment that will effect the decisions of the managers of any organisation. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro change. To help analyse these factors managers can categorise them using the PESTEL model. This classification distinguishes between: • Political factors. These refer to government policy such as the degree of intervention in...

Climate change, Economic growth, Economic policy 1689  Words | 5  Pages

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Hospitality Industry

Journal of Culture, Tourism and Hospitality Research (eJournal by Emerald Insight) Hospitality is the defining feature of India and Indians. In the era where national boundaries are fading fuelled by rapid movement of culture, capital and knowledge across borders, hospitality industry has emerged as one of the largest employers in the world. It is second only to the oil industry, in terms of turnover and exchange of foreign currency. The Indian hospitality industry is growing at a rate of 6% and...

Hampton Inn, Hospitality industry, Hotel 2506  Words | 7  Pages

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The Micro Environment

CHAPTER 3: THE MICRO ENVIRONMENT MGMT 488 – STRATEGY AND POLICY OVERVIEW The micro environmental analysis is the second step in creating the Environmental Analysis. The micro environment examines the general business climate as it relates to the organization within its industry. The micro environment is also known as Porter’s Five Forces of Competition. The macro environment is primarily concerned with major issues and upcoming changes in the environment. The analysis looks at five areas of...

Barriers to entry, English-language films, Environment 1494  Words | 7  Pages

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Demographics Ice Cream Industry

Demographics of the Ice Cream Industry The Canadian demographic for ice cream has been a constant presence of a sweet treat on a hot summer day. Thankfully, Canadians love ice cream, and enjoy it all year around. But, just who is enjoying this delicious milky treat, and what opportunities and threats does that leave the ice cream industry with? Opportunities Canadians have loved ice cream for centuries, and it shows today as children as young as ages 2-12, and folks as mature as 75 and up love...

Canada, Dairy product, Dairy products 1600  Words | 4  Pages

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Analysis Macro and Micro Environment of Ibm

environment in which it operates. This essay will analyse the micro and macro external environment in the part five years (2000 to 2006) of IBM Company by using PESTEL and five forces model to analyse in the first part. The second part will discuss about the advantages and disadvantages of the two possible alternative strategies for IBM. Part 1: Analysis of Micro and Macro External Environment 1.1 PESTEL Analysis The external factors can be divided into six broadly categories which are political...

2003 invasion of Iraq, Computer, Factor analysis 1948  Words | 7  Pages

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Hospitality Industry Leader

Running Head: Hospitality Industry Leader Hospitality Industry Leader Richard B Hope Nassau Community College Introduction: The Hotel General Manager is someone who works in a hotel. He or she works as a head of the department to coordinate and monitor the progress of business strategies in a large hotel. In medium hotels, the General Manager is responsible for day to day running of the hotel, including carrying out reception duties. A Hotel General Manager...

Hospitality industry, Hospitality management studies, Hotel 1506  Words | 5  Pages

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Factors Affecting Consumer Demands

Section 2 - Evaluate main factors affecting consumer demands & types of hospitality products 2.1 Seasonality 4 - 5 2.2 Price 6 - 7 2.3 Location 8 - 9 2.4 Contemporary issue 10 - 11 Section 3 - Conclusion 12 Section 4 - References 13 - 14 Appendix 1 & 2 15 SECTION 1 - INTRODUCTION In the highly changeable hospitality world, there are different types of hospitality products which are based on different...

Consumer theory, Hong Kong, Hospitality industry 1898  Words | 6  Pages

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Macro Environment Analysis

power these stores. Starbucks has been under strong criticism recently because of wasteful water practices. Water ran continuously on dipper wells, which are used to wash utensils. This added up to an estimated 6.2 million gallons of water wasted each day. In response, the company is exploring alternatives to the dipper well system, some of which have been put in place this year. Starbucks also said it plans to conduct a comprehensive water footprint audit in 2009 to get a clearer picture of its...

Coffee, Economics, Environment 1052  Words | 4  Pages

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Hospitality Industry

* Overview Hospitality is about serving the guests to provide them with "feel-good-effect". "Athithi devo bhavha" (Guest is God) has been one of central tenets of Indian culture since times immemorial. In India, the guest is treated with utmost warmth and respect and is provided the best services.Today hospitality sector is one of the fastest growing sectors in India. It is expected to grow at the rate of 8% between 2007 and 2016. Many international hotels including Sheraton, Hyatt, Radisson, Meridien...

Destination hotel, Hospitality industry, Hotel 1957  Words | 7  Pages

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Macro environmental factors

Aussie Culture. People here are so sports oriented which let me improve my game of basketball as I learned a lot of new techniques of play. I saw people having dinner at 6 pm where back home people started cooking for dinner at 8 30 but later I found myself following the same routine. In this one year I learned so much about the different cultures of the world and how to socialize or a have a good conversation with people of different cultures which inspired me a lot, that now I want to travel all...

Cultural anthropology, Cultural relativism, Culture 666  Words | 2  Pages

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Environmental Factors

Environmental Factors Environmental factors can be political, social, ecological, cultural, technological and ethical in nature. Any organization that develops a product or service that they want to market domestically or globally must consider what the impact each of these factors may have for them. Not considering these factors can result in the failed attempt to market a product, which may be successful domestically, in other countries where there is a significant market potential. ...

Environment, Gatorade, Globalization 771  Words | 3  Pages

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HOSPITALITY INDUSTRY AND THE MALAYSIAN COMMUNITY Hospitality industry is a broad category of fields within the service industry that includes lodging, event planning, theme parks, transportation, cruise line, and additional fields within the tourism industry. Besides, hospitality industry is the major industries in Malaysia which is one of the most interesting and challenging industries to work in and offers a wide range of job and career opportunities and an endless variety of places to work in...

Destination hotel, Environment, Hospitality industry 901  Words | 3  Pages

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Tourism Industry

Market Analysis of Tourism Industry Table of Contents 1.0 Abstract 2 2.0 Introduction 2 3.0 Specific analysis 2 3.1 Analysis of macro environmental factors 2 3.1.1 The economy 3 3.1.2 Social trends 3 3.1.3 Political environment 3 3.2 Analysis of micro environmental factors 4 3.2.1 The targeted customers 4 3.2.2 The competitors 4 3.2.3 The consumer behaviours 4 3.2.4 An internal analysis with a focus...

China, Economics, Economy 1687  Words | 6  Pages

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The Macro Enviroment

CHAPTER 3: THE MACRO ENVIRONMENT MGMT 488 – STRATEGY AND POLICY OVERVIEW The macro environmental analysis is the first step in creating the Environmental Analysis. The macro environment examines the general business climate as it relates to the organization, but has nothing to do with the organization itself. The macro environment is primarily concerned with major issues and upcoming changes in the environment. The acronym for the macro analysis is “STEEP.” The five areas of interest are Socio-cultural...

Animal rights, Animal welfare, Dog 1537  Words | 6  Pages

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Assessing Work Place Violence Risk Factors in the Hospitality Industry

Assessing Workplace Violence Risk Factors in the Hospitality Industry In “What’s Growing in the Corporate Culture”, Mattman (2001) discussed the steps a company needs to take in order to set up an effective workplace violence prevention program. This process involves classifying various risk factors, reviewing the existing policies in place, and establishing a way to collect pertinent, unbiased data. In this paper, I will summarize Mattman’s key points and gear the discussion more directly towards...

Employment, Hospitality, Hospitality industry 1692  Words | 6  Pages

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Micro and Macro Marketing Environment

McDonald’s became a famous global name (refer to appendix 1) which had more than 33,000 restaurants in 119 countries (McDonald’s, 2012). How could it operate profitably in a competitive market? It was due to the flexibility in the changeable marketing environment (Lovelock, 2002). The marketing environment can be assumed as a flexible system. Just like the human body which may die if it fails to adjust to environmental modifications, so the business also may lose if it does not adapt to external...

1916, Coca-Cola, Marketing 1311  Words | 4  Pages

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Macro-Environmental Analysis for Marketing

products. The macro-environment consists of six types of forces economic, demographic, cultural, natural, technological and political. “Vital Foods” must ensure that they take into account the trends, changes and alterations in these environments which can both pose threats and reveal opportunities. Economic Environment The economic environment is best described as having the “factors that affect consumer buying power and spending patterns" (Kotler et al 1998). These factors include income...

Australia, Culture of Australia, Ecology 1882  Words | 7  Pages

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Hospitality Industry

------------------------------------------------- Hospitality Hospitality is the relationship between guest and host, or the act or practice of being hospitable. Specifically, this includes the reception and entertainment of guests, visitors, or strangers, resorts, membership clubs, conventions, attractions, special events, and other services for travelers and tourists. The word hospitality derives from the Latin hospes, which is formed from hostis, which originally meant "to have power." In the West today hospitality is rarely a...

Amusement park, Ancient Greek, Hospitality 945  Words | 4  Pages

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Macro-economic factors

Macro-economic factors: There are a lot of macro environmental factors that affect Telfin performance though emphasize has been given on the important factors. Economic factors like current and anticipated economic growth, interest rate, inflation, cost of labor, disposable income and distribution of income etc collectively comprise economic environment. Current and projected economic conditions: In recent years Pakistan’s economic figures were indicating very impressive and promising consequences...

Central bank, Economics, Economy 722  Words | 3  Pages

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6 Key Success Factors of the Hospitality Industry

6 Key Success Factors in the Hospitality Industry The hotel industry's recipe for success involves several different critical success factors. These factors decide whether or not a hotel will survive in the hospitality industry. 1. Location Location is the most important aspect when it comes to the success of a hotel. If you're not in the right location, what makes you think you'll attract customers to the wrong location? A hotel located on a highway that is rarely used is going to end up...

Customer, Customer service, Hospitality industry 764  Words | 3  Pages

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Environmental Factors

Environmental Factors Paper Dallas Brekke MKT 461 - Marketing March 11, 2007 Environmental Factors Paper In any company, external factors exist that have an effect on the firms operations. Much of the time, these factors are largely uncontrollable and can only be managed and influenced to the best of the firm's ability. These factors are what make up the marketing environment. In this paper, we will explore some of the domestic and global environmental factors that may impact Dell Computer...

Dell, Environment, Marketing 1058  Words | 3  Pages

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Macro and Micro Economics

Micro Economics:- Microeconomics is a branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular, microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee...

Commodity, Commodity market, Economic growth 1404  Words | 5  Pages

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Environmental Factors

Environmental Factors MKT/421 Marketing July 1, 2013 Environmental Factors Environmental factors can affect businesses and have an influence on marketing decisions. This paper will discuss the environmental factors was Coca-Cola. Coca-Cola’s major marketing decisions are influenced by environmental factors. This paper will address the forecast of high-level global and domestic environmental factors that may influence the company’s marketing decisions...

Coca-Cola, Foreign Corrupt Practices Act, Marketing 1139  Words | 4  Pages

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BTEC Contemporary Hospitality Industry

Page 1. Introduction- The Contemporary Hospitality Industry 1.1 Define and explain the term “hospitality industry”. ----------------------------- 1 1.2 Roles, background and development of hospitality industry. ------------------- 1 2. Understand staffing in hospitality industry 2.1 Management hierarchy and reporting system of hospitality industry----------- 2-3 2.2 Function and roles between front office and back office operations-------------...

Hospitality industry, Hospitality management studies, Hotel 369  Words | 2  Pages

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