External Business Environment

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External Business Environment
2
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.

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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.

4
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5
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.

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Current economic policyand 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).

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

• 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.

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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.

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10
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.

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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.

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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).
•                

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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.

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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.

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