Summary Notes For TMA02 - B302 - Summarising Notes for
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Course
B302 Strategic Management (B302)
Institution
The Open University (OU)
Document that provides a brief summary of what needs to be included in each of the answers for the TMA02. It gives you an example of what you can do to answer each part of the questions.
Social Aspects:
- A growing preference for eco-friendly travel and experiences among
environmentally aware individuals.
- Shifts in travel demographics, including an increase in solo travelers and
more frequent travel among the elderly.
Technological Developments:
- The rise of "Smart Hotels" and automated systems transforming guest
services.
- The integration of Artificial Intelligence (AI) to enhance the overall
customer journey.
Economic Influences:
- The impact of fluctuating currency exchange rates on international
travel.
- Variations in disposable income affecting both local and global travel
markets.
Environmental Considerations:
- The rising trend towards eco-tourism and its growing popularity.
- Environmental changes and their increasing effects due to climate
change.
, Political Factors:
- Events such as Brexit, conflicts like the Ukraine/Russia and
Israel/Palestine disputes affecting travel freedoms, visa issuance, airspace
access, and tourist perceptions.
- Modifications in employment and wage regulations.
Legal Requirements:
- Compliance with labor regulations, including pension contributions,
national insurance, and tax obligations.
- Adherence to international trade laws specific to each country's
regulations.
Ethical Concerns:
- Increasing customer expectations for ethical sourcing of items such as
food, furniture, and land.
- Growing awareness and need for clear strategies regarding data sharing
and privacy.
Conclusion:
The STEEPLE framework elucidates the multifaceted nature of the macro-
environment in the hotel and hospitality sector. Successfully navigating
these complex factors demands agility and a commitment to innovation
to adapt and stay competitive amidst evolving market dynamics.
Conducting such analysis enables Whitbread PLC to craft a thorough
strategic plan, pivotal for sustained success.
Whitbread Group PLC operates within the competitive hotel sector of the
hospitality industry. Employing Porter's Five Forces framework offers a
comprehensive perspective on the industry's competitive dynamics and
its overall appeal.
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