This is a postgraduation course of Bangor Business School of MA Business and Marketing course. The assignment on International Strategic Management explores the key principles and frameworks that guide businesses in formulating and implementing strategies in a global context. It examines the challe...
, Introduction
In the organisational context, analysis of the business environment is significant for firms so that
challenges can be navigated, and opportunities can be seized (Craig, 2012). Effective business
strategies and informed business decisions can be generated by organisations through examining
external business factors like regulations, competition, and economic conditions. Organisational
strengths and weaknesses are revealed, and business strategies are guided by internal analysis.
Strategic decision-making and business growth are fostered by internal analysis. A
comprehensive business environment analysis enables sustained growth, risk mitigation, and
proactive planning in an ever-changing landscape. Business organisations get the chance to stay
competitive and agile for the business environment analysis. However, it is significant to apply
conceptual frameworks to conduct an analysis of the business environment.
3|Page
, Analysis and Discussion
Summarisation of Career Experiences
I worked in a tourism firm named Arranger Tours and Travel as an entry-level Market
Researcher. Arranger Tours and Travel is a tourism organisation in Bangladesh (Arranger Tours
& Travels, 2023). I worked for one year in a tourism organisation before being admitted to
Bangor University. I was accountable for obtaining consumer preferences data, shaping
strategies of services, collecting market insights, analysing the business environment, and
contributing to business decision-making. A significant growth in my competencies, skills, and
expertise is highlighted by the journey in Arranger Tours and Travel. I analysed the business
environment to understand industry competition, and consumer trends, and guide informed
decision-making. My role enabled me to create impactful market insights that fostered the
success of the tourism organisation.
Concept One: SWOT Analysis
Core Idea of SWOT
SWOT analysis is a conceptual framework that evaluates strengths, weaknesses, opportunities,
and threats so that business decision-making can be simplified. The framework enabled the
organisation to recognise internal weaknesses and strengths and external threats and
opportunities. Strengths are leveraged, weaknesses are addressed, opportunities are seized, and
threats are mitigated by the strategies tool to foster overall business success. I used the tool
during the time of working in Arranger Tours and Travel to analyse the internal environment.
Strengths: This dimension of the framework is accountable for determining capabilities
and positive attributes of the organisation. Positive brand image and quality services are
strengths of Arranger Tours and Travel (Arranger Tours & Travels, 2023).
Weaknesses: This dimension is functioned in determining the internal limitations and
areas of improvement (Teoli, 2019). High cost of services and dependency on local
market are weaknesses of Arranger Tours and Travel.
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