Political Factors: These are factors which affect organisation (business), which are beyond their control. But businesses need to know how to respond to political factors and know when to make the most of an opportunity or know when to mitigate a threat. An example would be if UK was in a recession then global companies like Marriott would be affected in the fact that they would be making a loss in profit and would struggle to achieve there aim in the UK but the overall company would not close down due to the fact that global companies have businesses in other areas which aren’t in recession. But on the other hand local companies like Waterman’s would struggle as they are not a global company meaning that they would need to focus more on staying in business than progressing there company. Economic Factors: Economic Factors are factors which affect the performance of a business in terms of the national or international economy. Businesses would need a plan on how to stay open and still make a profit as well as how to achieve their Aims and Objectives as economies do bad. An example would be the US as most nations rely on the US and if the US had gone into a recession then nations like the UK would have a hard time making money over at the US because if the US was in a recession then there products would become cheaper so foreign companies would have a hard time selling their product because of price causing them to lose in profit and if they made the product cheaper than they would also lose in profit as they are selling a product cheaper than its actual value. This wouldn’t affect companies such as Marriott that much because they are a global company but they would struggle to achieve their aim in the US causing Marriott hotels in other areas like the UK to make more profit to support Marriott hotels in the US. But unlike Marriott, Waterman’s wouldn’t be affected because there a local company meaning that they are only located in the UK but if the UK had gone into a recession then they are at a risk of being closed down because there is no other Waterman’s there to support them. Social Factors: This is a factor which relate to the beliefs and values of the economy. This includes people’s size, gender, age, ethnicity, income, education and occupation. Businesses benefit from social factors as its information which allows them to know who to target.
The data protection law takes a big role in this factor as it keeps data of the public and individuals protected and not abused. Social factors take a huge role, as it allows businesses to know who to target and send notices of offers, new deals as well as new products in stock to have an increase in overall profit if targeted the right audience. An example would be Marriott getting information from social websites such as Facebook on who enjoys Marriott or hotels in general and let them know about offers and what their plans are as well as what they have which is new. They can also go to social websites like trip advisor and see how to improve from reviews on hotels like Marriott. Another example of Waterman’s would be Technological development: This is the progress/deployment of technology and how it’s continuing to progress and the ways in which it affects businesses. One example would be businesses like Microsoft would thrive and progress as technology progresses as they would continue to make sales because it doesn’t affect them in a negative way as they use technology to their advance for a better experience at Marriott it also allows them to progress in terms of software making their website that much better as well as there advertising Another example would be Waterman’s and how this Legal development: This is what is allowed in term of the law in two different aspects, one being Employment Law and the other being Consumer Protection. Employment Law is employee protection on what they’re entitled to so in simple terms its employees rights in their job. This would affect all businesses as if they don’t follow the employment law then they could be expected a fine or the hole business could close down depending on how much they were breaking the law. An example of Employment Law would be All the laws which are involved with the employment law are briefly written below: •
Unfair dismissal • Redundancy • Transfer of undertaking • Termination/compromise agreements • Terms and conditions of employment • Discrimination • Employment tribunals • Holiday pay • Unlawful deductions from wages Consumer Protection on the other hand is the protection of the customer when buying a product and the consumer protection when using the product; this also involves areas such as customer service. This would affect businesses roughly the same way it would affect employment law only the business could ether close down have a fine or an employee would be sacked if delt with the a customer the wrong way. An example of Consumer protection would be All the laws which are involved with the consumer protection are briefly written below: • Sales of Good Act • Consumer Protection from Unfair Trading Regulations • Consumer Credit Act • Consumer Protection (Distance Selling) Regulations • Data Protection Act • Voluntary Codes of Advertising Practice • Pressure Groups • Acceptable Language Environmental factors: These are factors which relate to the social, political and legal factors in terms of things like recycling and the environment in general. An example of how environmental factors affect Marriott would be An example of how environmental factors affect Waterman’s would be.
Marriot Hotel & Resort: Marriot hotel and resort by the name it’s a hotel company and by them having “resort” in the name it suggest that the company is a high class hotel because it does more than just let tourist stay and that it has activities which they can do. The company was first started in 1950 with two motels and the overall company was owned and made by John Willard Marriott. The company is now owned by shareholders (people who had invested into the company). Marriott hotel & resort is an international business meaning that it known worldwide. Business Sector: You have 3 different sectors: Primary: This is when a company gets raw materials (natural materials such as vegetables and coco beans). Secondary: This is when a company manufactures raw materials such as Kit Kat using coco beans for when they are making their chocolate. Tertiary this is when a company offers things to customers for example banks offer loans to customers. Marriott hotel & resort is in the tertiary sector which is a company that offers things such as customer service, other businesses which are also in the tertiary sector presides hotels are banks such as NatWest and Barclays. Marriott hotel & resort offers a high class experience in a high class hotel as well as external things which you can do in the hotel such as relax near the pool or go swimming or generally watching T.V or web browsing. Business Purpose: The purpose of Marriott hotel & resort is to provide a high class of service to customers such as making a customer feel special and trying to complete as many of his or hers request for example giving the amount of towels a customer would possible want and allowing the customer to choose a room which he would prefer (some of the small things which make a time in a hotel special) another one would be a member of staff exceeding the needs of his or hers customer. Marriott hotel & resort purpose is also to expand on their business through shareholders which allow Marriott to make more hotels or expand/improve a hotel by there being people investing into the company. Ownerships of the business: Marriot hotel and resort is a company which is owned by the public and government the public owns the company through buying shares from the company (investing into the company). The company is owned by the Willard family (was originally owned by John Willard). Key stakeholders of the business: Key stakeholders of Marriott hotel and resort are people who are interested in the company such as guests, franchisees, communities, suppliers, industry organisations and government. Why are these key stakeholders? Guests are key stakeholders because they are the ones who are interested in staying at Marriot and are staying at Marriot due to them being interested in the company Franchisees is another key stakeholder because they are interested in Marriot due to Them being the ones who are selling items to Marriot which they can use such as planet, decoration, chares and so on.
The community is also a key stakeholder by the fact that they are the ones who think if an idea is good or not (the market Marriott can go to see if an idea is good or not). They also are like free advertising of the company by the fact that if they enjoyed their time in the company they would tell others. Aims: Aims are what the company is aiming to do, the goal which they are trying to achieve some companies have more than one aim. Aims of Marriott hotel & resort would be An aim of Marriott would be increasing the amount of customers who go to Marriott. Another aim of Marriott would be to save more money (the money they use for supplies like decoration). Objectives: Objectives are similar to aims they are like mini aims, the steps which you take in order to achieve a aim. One objective to insure that they get more customers would be to advertise more through things such as bill board’s leaflets. Another way would be by having more deals and more flexible deals allowing customers to feel happy about what they are paying for and the amount they are paying plus they would most likely recommend the hotel to others and give feedback to Marriott for them to improve which could lead to more customers coming. A finial objective could be to gain more sponsors or sponsor more companies this allows them to benefit through advertising. One way in which they can save more money in their budget would be to buy fewer flowers, planets this would generally allow them to save more. This would also increase saving in sectors like the amount of water use. Another way in which they can save money is by spending less on food and furniture suppliers and getting cheaper ones which also provide a similar or same/better quality of service. One last way in which Marriott can save money is by the amount of leisure activities Marriott have they wouldn’t need some much but a constant change in activities. This allows customers have an easier time to choose in what to do (due to there being not too much activities) and keeping the customers entertained which a change of activities which could be cheaper and save space (Marriott would have some default/signature leisure activities). `Waterman’s – Be part of the art: Waterman’s is a multipurpose area which was made in 1984 and is located in Brentford. Waterman’s is an area which consists of activities such as cinema, theatre, drama and dance workshops. You can also watch theatre and cinema at Waterman’s. Waterman’s is a local company (not so widely known or spread). Business Sector: Waterman’s is also a tertiary company like Marriott hotel & resort I know this because Waterman’s offers activities such as cinema, theatre, drama, dance and art workshops and performances (cinema and theatre) for the public to do (due to the fact that waterman’s offers these activates to the public means that they are tertiary because they are offering things to the public). Business Purpose: The purpose of Waterman’s is to provide creative workshop shop classes for the public (such as drama and art) which they would enjoy and have a fun time doing in order for the company to get customers to keep coming back. Ownership of the business: Waterman’s is a charity company meaning that they rely on the public and without the public the company would not be there. They can also have fixed people who are donating regularly or have a fix donation into the company meaning that they are giving a certain amount of pacific money to Waterman’s. Watermen also have people who are helping out in work to keep waterman’s running. Key stakeholders of the business: The public are key stakeholders of the Waterman’s because they could be interested in trying out what Waterman’s has to offer. Waterman’s product which is different types of workshops such as art, drama, cinema and theatre (you also can watch cinema and theatre). Industries organisations are also key stakeholders because they supply Waterman’s with things such as chairs props, paint etc and possibly food depending if there a food shop in Waterman’s. The franchises are also key stakeholders because they allow advertisement for or at Waterman’s this causes more profit for Waterman’s and the franchises by more customers coming.
Aims: The goals which Waterman’s could possibly have for their business. An aim Waterman’s may have would be to have more participated activities instead of mainly workshops which some people can possible get board of quite easily. Another aim for Waterman’s would to be to advertise more in central areas (busy areas). Objectives: The steps/objectives needed to achieve Waterman’s possible goals/aims. One way in which Waterman’s can achieve their aim is by making a separate department connected to their art workshop which allows people to be able to draw art (practise some techniques) for those who pay extra (premium member) there can also be a drawing compaction which could be a success this could also bring more customers for Waterman’s. Another way in which Waterman’s can achieve this goal is through having special events which are sponsored by companies. Waterman’s is located in Bretford which is a bit of the out skirts of central London so not so many people would know about it so one objective could be to increase the amount of advertisement in areas such as central London or outside of schools in order for more people to go to Waterman’s and students going due to being interested in pacific subjects such as art. Another objective could be to get sponsored by companies this would allow waterman’s as a company to be known more and would cause an increase in profit for them, it also depends on how big the of a company the sponsor is. Stakeholders: These are people who are interested in a company Shareholders: Are people who are or have invested money into the company. Marriot Hotel & Resort: Stakeholders: Stakeholders in Marriot are roughly the same as the key stakeholders measured above, which are guests, franchises, communities, suppliers, industry organisations and government. Government: The government is a stakeholder because they are the ones who tax Marriott hotel and resort as well as give rewards to companies like Marriott for things such as meeting the standards in which Government has set. Industry Organisations: Industry Organisations are stakeholders because they are interested in providing and making pacific items Marriott would want so that they get funded by Marriott to make the items wanted. Suppliers: Suppliers are stakeholders because they provide items and food to Marriott hotel and resort which industry organisations have made. Communities: Communities are stakeholders because they are the ones who review (give feedback) to Marriott hotel and resort about products which they might do and also are Marriott’s daily customers and are free advertising, probably the main thing which keeps Marriot running. They also can fund companies such as Marriott and make shore employees are getting paid right. Franchises: Franchises are stakeholders by the fact that they advertise Marriott hotel & resort and get an increase in profit from more people going to Marriott due to reasons such as pricing and offers. Guests: Guests are also a stakeholder because they are the ones who have paid to stay at Marriott and can let them know of what they are doing right and wrong (feedback about the hotel). They also can leave good feedback which would make more customers want to come.
Shareholders: Shareholders on the other hand can be anyone who has the money to be able to buy a share. The most common people to buy a share from Marriott hotel and resort are high industries who feel they can benefit from Marriott and people how are looking to invest into a company also franchises. This helps Marriott expand their business or buy more product in return the shareholder gains a profit. Waterman’s – Be part of the art: Stakeholders: Stakeholders in Waterman’s would be the public, customers (guests/students), industries organisations, franchises, government and suppliers. Roughly the same as Marriott’s and most other companies. Community/Customers: The public would be interested many because they might want to go to Waterman’s workshops (mainly students or people with pacific hobbies) and customers are those who were interested and are using waterman’s workshops. Industry Organisations/Suppliers: Industries Organisations would be interested in Waterman’s because they can make items for Waterman’s such as props and suppliers supply the items which industries have made. Franchises: Franchises would be interested because it allows Waterman’s provide advertisement of their business and gaining profit from more customers coming (knowing about Waterman’s & there offers), roughly the same as Marriott and other franchises. Government: The government is interested in Waterman’s because depending how of a success and popular the business is he can fund them to spread and grow as a business more. The government also makes shore that the company meets standards such as good work environment. They government is also interested on how well the company is being paid Shareholders: Waterman’s doesn’t have any shareholders from the fact that it is a charity owned company but the company can be funded by organisation and people such as the government this allows people to donate as much money as they want regularly through there bank account. They can also lend a loan as big as they want but due to Waterman’s being a charity you won’t make any money out of the money you gave this means less people are likely to donate.