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External influences related to Jaguar Cars and Marriot Hotels

Extracts from this document...

Introduction

External influences An external influence is an influence that takes place outside the business that still has an affect within the business and their overall performance. The three main external influences are: market competition, economic conditions and environmental constraints. Environmental constraints: Environmental constraints are the environmental issues that affect the business. This means that a business would have to do all the things necessary in order for them to be considered "environmentally friendly" which will increase the reputation of the business. Some types of environmental issues are pollution (air, noise and water) the wastage of natural resources. For each of these there are acts that have been put into place which will give a clear guideline to what the business has to abide by in order to stay trouble free, these are: the environmental protection act, clean air act, water resources acts and noise act. Pollution for example this would fall under the clean air act and the environmental protection act. If a business is producing a lot of pollution it may put of the customers and may also make the employees want to leave the business. Customers will be put of by the business because of the fact that they will feel as the business does not care for the environment, employees may also leave the business as they may feel that they are not doing the things necessary to be environmentally friendly. Weather falls under the clean air act; if a business is creating too much pollution it affects the atmosphere in that area. The local community may be affected with the high levels of pollution and may complain against the business because of the large amounts of pollution that they are creating. This would lead to a decrease in the businesses reputation because of the fact that they are not keeping the different stakeholders happy. The clean water act insures that a business does not pollute the water, by pumping chemical waste into the rivers. ...read more.

Middle

This affects how quick jaguar can achieve their aims and objectives. However at the Marriott hotel they will not be as affected as they just have to make minor changes such as changing the prices of their services. This means that their costs won't change by a lot because of the minor changes that they are making. Economic conditions: The last external influence that influences the way a business runs are economical conditions. The economic conditions is the way in which the current UK economy is working (Gross domestic product) the gross domestic product is calculated by how much money is earned and spent by the individuals, businesses consumers and the government. It is the government's duty to manage the UK's economy and has set 3 main objectives together with the Bank of England to ensure that the UK does not go into an economical crisis. The objectives are: * Steady Growth * Low unemployment * Low/stable inflation Steady growth is vital as it controls the money being spent and earned; steady growth makes sure that it increases steadily through time. By having steady growth it means that aspects such as the recession can be avoided and consumers are still able to buy and sell at reasonable prices. The level of employment is vital as if there is a high level of unemployment then it would mean that the consumers would not be able to buy anything. If this happens then it would mean that the first objective of steady growth will not be possible because of the fact that the consumers will be spending nothing at all. Unemployment is a consequence of recession, which is why these objectives combine to make sure that recession does not occur. Since the government is aiming for low unemployment and most consumers are working and receiving a good income this enables them to spend money allowing steady growth to happen. ...read more.

Conclusion

Whilst owned by ford they failed to make a profit in 10 years, this means that if they are taking out loans etc it would be difficult for them if interest rates are high. In terms of inflation rates again Jaguar are more affected as it would cost them more to produce and this would mean that they will have to raise the prices of their cars, if this happens then it would mean that they would have less customers as it would mean that they may not be able to afford the cars itself. It does not affect the Marriott that much as the room prices are fairly low so customers would not struggle as much to pay for the cars. Also the Marriott would not struggle as much because most of their customers are business customers meaning that they would not be worried as much about the price of the service. Jaguar is also far more reliant upon exchange rates than the Marriott is. As Jaguar buy there supplied from abroad they will need the strength of the pound to be high so that they keep their costs low, however if it is high then it would mean that they will be spending more and it would decrease their profits. Also as most of their customers buy from abroad they would want the exchange rate to be fairly high so that they do not have to spend that much but they would also want it to be fairly low so that customers abroad can still afford it, because of the fact that they are not in control it makes it a lot harder for them. Whereas the Marriott also buy their supplies from abroad they are minor supplies and they can find another supplier easier then the Marriott can as there product are more easily found then that of Jaguar. In conclusion Jaguar is more vulnerable to external influences. ?? ?? ?? ?? GCSE Applied Business Unit 1: Task C Heston Community School 13130 ...read more.

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