Your manager has asked you to prepare a presentation (slide deck and brief presenter notes) in readiness for delivery to the HR Team at the next Team day. The aim of the presentation, entitled is for team members to gain a general understanding of their business environment and the key issues that can affect this. Your presentation (which you are not required to deliver) can be based on your own organisation or one(s) that you are familiar with, and should include the following:
AC 1.1 Examine the key external influences that impact on business environments
3CO01 Assignment Example
Organisations do not operate in a vacuum rather their operations are influenced by external forces in their business worlds. To this end, there exists several tools that help in the analysis of external factors that affect business in all sectors including the hospitality industry that forms the core of our business. Among such tools is the PESTLE analysis that is an acronym for Political, Economic, Sociological, Technological, Legal and Environmental. Cipd (2021) defines the PESTLE analysis as a strategic, broad fact finding activity of the external factors that potentially influence the decisions of companies by assisting to minimise the threats and subsequently maximise on the available opportunities. The following is analysis of the factors within the hospitality industry
- Political factors that influence the industry include environmental regulations, tax policy, trade restrictions, political stability and tariffs. This has been evidence during the Covid19 pandemic period as many governments imposed travel bans that negatively affected the industry Frue (2019). Similarly, the hospitality industry operates in fear during presidential elections as new governments could introduce new ideas and policies that impact on the industry and disrupts the operations.
- Economic factors that influence the industry include economic growth or decline, inflation, interest, wage rates, exchange rate, minimum wage, working hours, cost of living, availability of credit and unemployment. In this regard, the strength or weakness if a currency can affect the attractiveness of a vacation destination. The short term impact of Brexit was loss of a substantial number of employees from other EU countries (James, 2021).
- Sociological factors include cultural norms, health consciousness, career attitudes, age distribution population growth rates, health and safety. For example, consumers have become more health conscious during the Covid19 pandemic period and hence the industry investment on sanitising procedures for their facilities.
- Technological factors include new technologies for example robotics and rate of change (Cipd, 2021). To this end, some hotels have adopted robotics in sanitising their facilities which is faster and more efficient. The industry is also investing in social media and working towards getting positive reviews on travelling websites ( Frue, 2019)
- Legal factors include changes to legislations such as employment, imports/exports, access to quotas, materials and taxation (Cipd, 2021)
- Environmental factors include ethical sourcing, global warming, pandemics and other emergencies. Frue (2019) noted that the industry have to understand the seasonal or weather differences to competitively price their rooms.
AC 2.1 Discuss organisational goals and why it is important for organisations to plan.
3CO01 Assignment Example
According to Hill (2019) planning is a process that charts a course for attainment of defined business goals. The process entails conducting a review of operations of the organisation and subsequently identifying what needs to be improved in the next year. As such planning necessitates forecasting of the results that an organisation desires to achieve and identifying the measures to be taken in order to attain the set goals. The results can be can be in financial terms or other measures such as consumer satisfaction (Hill, 2019).
Scott (2010) explained that human resources personnel have different functions in organisations including ensuring that there policies put in place to ensure that employees are responsible for the attainment of organisational objectives and goals. Giving reference to the hospitality industry, it is broadly structured into food and beverages, travel and tourism, lodging and recreation (Novak, 2017). Their ultimate goal is to create a positive customer experience so as retain the consumer in future or even gain a referral.
In line with this, the HR department training and development plans within the hospitality industry seeks to invest in imparting the right knowledge and skills to the employees who are the direct link between an organisation and the company. Scott (2010) detailed that HR professionals are charged with responsibility of developing training and development programs that strengthen the quality of work in a company. This proceed upon evaluating the