External and Internal Environmental Analysis - Essay Example

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The firm will need to identify these factors using quality analysis tools. They may affect the business either positively or negatively. The external factors involve those…
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External and Internal Environmental Analysis
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Download file to see previous pages Companies should assess their competitive position to come up with strategies to make them outstanding in the industry (Albright 2004). Groups come up with organizational structures that aid the in running the firm operations. These structures affect organization’s performance. Hilton Worldwide Holdings Inc. aims at achieving its goal of the growth of their business.
There are several factors that compromise business performance thus there is a need for evaluating them to have successful business growth (Muthaih and Venkatesh, 2012). The external environment is those factors found outside the business and affects how it operates. It may affect the company ability to achieve its goals and objectives in an efficient way. Regardless of operational planning there is a need to assess the external environment. In evaluating this situation, there is a need to view it in terms of both opportunities and threats (Cheermack et al., 2007). It exists in three dimensions, the remote, industrial and operating environment. For Hilton Worldwide Holdings Inc. to grow as proposed analysis tools have to be used to evaluate these factors. Some of these elements can be changed by the firm’s operations while others push the business to change its structure to counteract its negative impacts. The organization intends to look into the three elements to ensure that changes in external factors do not take it by surprise.
The remote environment comprises of a set of forces originating beyond an enterprise’s operating situation. They occur irrespective of any single organizations management activities. They involve factors such as technological, economic, social, political and legal opportunities. They work differently to create constraints, threats and also opportunities for the firm. At times, the elements work together to make a meaningful impact to the company for example economy and infrastructure can contribute to each other’s success in affecting ...Download file to see next pagesRead More
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