Micro And Macro Environmental Factors Essay examples
The TUI group also have a very strong cash flow, giving them much necessary resources to sustain growth and invest into new areas. When heading into the future, TUI must utilize their financial and personnel resources in order to further enhance its impact in the travel and tourism industry, or potentially diversify into new sectors. However, they must be aware of any negative press, as reputation plays an imperative role in an organisation’s success within the tourism and travel industry.
The TUI group is a large tourism company that operates hotels, cruise ships, airlines, travel agencies and more across the world (TUI Group, 2014). In order to stay competitive within the travel and tourism industry, they must be constantly aware of the micro and macro environmental factors that are affecting them (Johnson, et al., 2010). This report will analyse the TUI group using five main frameworks; Porter’s Five Forces, VRIO, PESTEL and SWOT/ TOWS.
2. Porter’s Five Forces
3.1 New Entrants (Low)
The airline and tourism…