This failure rate is largely attributed to the lack of integration between quality management practices, business strategy, and environmental uncertainty. This article proposes a contingency model relating quality approach, strategic orientation, and environmental uncertainty. The three quality approaches addressed in this model are quality assurance, total quality management, and total quality learning. The Miles and Snow model is used as the strategic orientation typology.
This analysis will assess the impact of the political, economic, social, technological, and legal factors on the industry.
The analysis is presented below: Political Environment The influence of the political factors in the way of change in the regulatory measures and the attitudes of the current government will largely determine the growth and success of any industry and the players within that industry Keim, If the government is stable and a staunch supporter of the industry then there will be ample chances for the industry to grow.
In the case of Hospitality industry because of the revenue to the government from the tourism sector, there is the complete support for the industry and the political environment is conducive for the development of the industry.
Based on the application of these factors in the global context the economic environment cannot be assessed as more favorable for the development and growth of the industry. Economic downtrend has affected the spending capacity of the people in general and this has resulted in the poor performance by most of the firms in the hospitality industry.
The tourism and hotel business have been severely hit by the recessionary tendency all over the world. Social Environment Changes in the values and life styles, changes in values and beliefs, changing patterns of work and leisure, demographic changes, changing mix in the ethnic and religious background of the population — all will have their influence on the sustenance of the industry.
In the global context, all these factors presently work to the disadvantage of the hospitality industry as the changes in life style and values of customers show a declining trend, which in turn has adversely affected the hospitality industry. Influence of Technological Factors The technological developments change the ways in which various services are provided and especially with the introduction of the broadband connectivity, the commercial world has undergone a wide change.
All these technological developments have their impact in the functioning and growth of the hospitality industry globally.Best Buy Co., Inc.
is a multinational retailer of technology and entertainment products and competition will come from discount retailers such as Wal-Mart and Target, as well as internet retailers such as initiativeblog.com and eBay. The management is positive that these two strategies will allow Best Buy to be in a favorable.
initiativeblog.com is the place to go to get the answers you need and to ask the questions you want. Jun 26, · Each decision you make at your business might address a specific problem or need in a department, but all decisions can affect the main goal of any company -- profitability.
Internal and External Factors Affecting the Four Functions of Management Dina Pastor, Anelys Thompson, Christine Brown MGT April 7, Dick Amabile Internal and External Factors Affecting the Four Functions of Management In relation to the four functions of management, there are several internal and external factors that affect an organization’s success.
Environmental Scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation. 4 / Euro Disney's Analysis of the external and internal environment.
The topic of Wal-Mart is focusing on three external factors, which are history of company, lawsuits against the company, and foreign currency conversion.
These factors from both the positive and negative aspects reflect the present situation of the company.