The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Example of UK
What is PESTLE Analysis? PESTLE analysis?
PESTLE analysis, which is sometimes referred as PEST analysis, is a concept in marketing principles. Moreover, this concept is used as a tool by companies to track the environment they’re operating in or are planning to launch a new project/product/service etc. In the Hotel industry like Shangri la they can conduct a Pestle analysis on different restaurants and outlets in their hotel S.W.O.T. Analysis
What is SWOT Analysis
S.W.O.T. is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. Conducting a SWOT analysis of your business is actually kind of fun. It won’t take much time, and doing it forces you to think about your business in a whole new way. The point of a SWOT analysis is to help you develop a strong business strategy by making sure you’ve considered all of your business’s strengths and weaknesses, as well as the opportunities and threats it faces in the marketplace. Existing businesses can use a SWOT analysis, at any time, to assess a changing environment and respond to it. New businesses should use a SWOT analysis as a part of their planning process. Conducting “SWOTs” will put you on the right track right away, and save you from a lot of headaches later on.
SWOT ANALYSIS Of Shangrila Hotel
Shangri La Hotels and Resorts
The Kuok Group of Companies
Hotels and Resorts
Tourism and Hospitality
It’s in our nature
Providing guests with distinctive Asian standards of hospitality and services STP
Leisure Travellers, Business Travellers, Families
Upper middle and upper class people
A brand of luxury hotels that serves its guests to the best of its ability, always staying close to its roots in Asia. SWOT Analysis
1. Represents Asian culture
2. Asia’s leading luxury hotel group
3. 70+ hotels under 4 brands across the globe
4. The Business hotels are known to be the best in their category 5. Good reputation and customer loyalty
6. Aspirational brand
1.Its fame and brand awareness is restricted to Asia
2. Limited focus on business travellers
1. Other international brands are building mid-market hotels in this region. Shangri La due to its history in this region is the most reputed luxury hotel brand. 2. Tourism is a growing industry globally, entry into new markets seems like the next step for them Threats
1.Asia is shifting to the mid-market segment
2. Increased labour costs
3. Terrorist attacks and natural calamities
3. Wyndham Worldwide
4. ITC Group (India)
What is SMART Analysis
Specific Measurable Attainable Realistic Timely
A specific goal has a much greater chance of being accomplished than a general goal. To set a specific goal you must answer the six “W” questions: Who: Who is involved?
What: What do I want to accomplish?
Where: Identify a location.
When: Establish a time frame.
Which: Identify requirements and constraints.
Why: Specific reasons, purpose or benefits of accomplishing the goal. EXAMPLE: A general goal would be, “Get in shape.” But a specific goal would say, “Join a health club and workout 3 days a week.” Measurable
1. When you measure your progress, you stay on track, reach your target dates, and experience the exhilaration of achievement that spurs you on to continued effort required to reach your goal. 2. To determine if your goal is measurable, ask questions such as…… How much? How many?
How will I know when it is accomplished?
1. Goals that may have seemed far away and out of reach eventually move closer and become attainable, not because your goals shrink, but...
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