External Trends

Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing

When manipulating a business’s strategy, it is important to focus on the external factors in the environment. An external analysis is where a business conducts environmental scanning that present a company with the key external forces influencing the organization. The facets of external forces examined are the business environment, remote environment, or the competitive environment. A business environment is all of the external factors in the general environment that a firm cannot control, but can affect their strategy. The remote environment is the forces that affect most firms. Lastly, a competitive environment is the firm’s specific industry and its entirety. The external analysis is pertinent to a company called Dick’s Drive- In; without it, Dick’s would not be a thriving popular business today.

Porter’s 5-Forces Model: A method for examining the competitive environment for a company or industry. It specifies and evaluates threats from new entrants, suppliers, buyers, and substitutes in the arena of competition.

There are many external and internal factors that impact the planning functions of management. We must all be mindful of these factors because they could have an enormous impact on organizations productivity. The process of assessing the external and internal factors that an organization will face can be vital to the planning function of management. One must determine a set of issues and constraints and then list the assumptions that will impact the implementation of the plan. The environmental assessment develops understanding of external and internal processes that influence the organizations success rate. The purpose of the environmental assessment is to identify and analyze the key trends, forces,

Additionally, the study found that hotels with a non-financial reporting control system were more likely to adopt an environmental policy. In 1996, when this article was published, green policies were considered stratagems instead of bonafide, widespread business strategies for all hotels to take into consideration to participate in environmentally-responsible business practices. The author concludes that until environmental concerns become strategic issues added into the control system with rewards, the response will remain the same; green policies and practices will be considered stratagems.

Porters five forces will help us in analyse the industry amazon.com is in. Five Forces which will be analysed will be

But Firstly, we will start this part by talking about the importance of a deep analysis of the industry’s structure. A deep knowledge of the industry the company is in, is extremely important. The industry structure is unique and varies from industry to industry of course. It will determine the level of competitiveness and attraction of the industry. With the Five Forces model (Porter) and PESTEL (Political, Economic, Social, Technological, Environmental, Legal) analysis, the organization will get a better understanding of the market will allow you to know the requirements for the possible creation of sustainable competitive advantages and take the right strategic decisions. According to Porter, to create an efficient competitive strategy, it is important to understand the rules of competition that determine market attractiveness.

Sustainability is important to maintain the way humans and nature are treated to have healthy organisms and reproduction. Unfortunately, nature and animals are not treated the way they should be. Many livestock are forced reproduced and kept in unlivable conditions. Plants are overwatered or left in drought and given GMO’s to survive. There are many different ways we can change our ways and allow organisms to survive naturally without the use of pesticides and animals to live happy. If a hotel practiced sustainable practices they would be very well known and enjoyed in the community.

33 8. What strategic issues need to be addressed? 34 9. External environmental analysis 35 10. Internal environment analysis 60 11.

Environmental analysis is important for a company. This allows for the company to look at external factors that will help them to succeed or fail. Environmental analysis could be internal as well as external. The internal analysis allows the company to look within and analyze the successes and see where improvement can and should be made. The external analysis looks at factors such as location, marketing, and surrounding areas to analyze if the these factors are what is best for the company.

The analysis of the Porters five forces are very important to business entities. Based on the analysis a business can evaluate their current position and positions that they plan to progress towards as it relates to the industry they are operating in.

Many hospitality industries are doing their best to be sustainable and green. Even though there are many issues hospitality industries are facing. Sustainability includes not only environmental issues but also preservation of local cultures. The industries are still struggling to find measurements and benchmarks for “green” operations generally and energy conservation specifically. Food service operations also face sustainability issues, complicated by guest interest in healthy food and local sourcing. Hotel industry processes and their related resource consumption in hotel operations have some form of environmental impact (Singh, Houdre,

There will be 2 parts to external analysis; it will be done based on general environment and competitive environment. External analysis is basically analyzing the factors that are not within the control of an organization for the general environment part. As for the competitive environment part, the strength of an organization’s current competitive position, and the strength of a position it is considering moving into will be identified to help prepare itself for every possible happenings in the near future.

At last, the ecological element is also important when investigating the business environment and the CSR has gradually ended up coordinated in numerous associations' business goals. For a hotel industry to be socially, dependable it must finish numerous approaches, for example, submitting to the energy consumption laws, lessening carbon footprint, and connecting with the local community. Then again, the natural disaster has turned out to be incessant. Subsequently, numerous destination spots are intensely influenced and sustainable tourism must be practiced to save natural resources (Levonsky & Conley, 2004).

For the purpose of industry analysis we have used the porters Five-force model, the result of analysis is attached in the appendix.