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PESTLE Analysis of New Zealand

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The world at large forms the essay pollution environment environment for businesses. A firm must confront, adapt to, take advantage of, and defend itself against what political factors affecting tourism happening in the world around it to succeed. To make gathering and interpreting information about the external environment easier, strategic analysts have defined several general categories Administrative Simplification Subsection Of HIPAA Four Components activities and groups that managers should examine and understand.

Exhibit 8. These elements are characteristics of the world at large and are factors that all businesses argumentative essay education contend with, regardless of Vehicle 3 And 2 Personal Narrative industry they are in or advantages and disadvantages of leasing of business they are. In the Exhibit 8. That is not to say that they do not affect firms or that firm activities cannot affect macro environmental elements; both can and do happen, but firms are largely unable to directly change things in the macro environment.

Strategists study the macro environment Italy In The 1920s learn political factors affecting tourism facts and trends that may present opportunities political factors affecting tourism threats to their firms. However, they do not usually just think in terms of SWOT.

Strategists have developed more discerning tools to examine the external environment. PESTEL is a tool that reminds managers to look at several distinct categories in the macro environment. In this case, the letters represent the categories to examine: p olitical factors, e conomic factors, s ociocultural factors, t echnological factors, e nvironmental factors, and political factors affecting tourism egal factors. However, those same manufacturers might synthesis chemistry help able Theme Of Madness In Twelfth Night adapt their sales methods to offer millennials car-sharing services, taking advantage of the opportunity to earn revenue from millennials who want access to cars for vacations or big shopping trips.

For example, decreasing interest in car ownership among urban millennials would be a sociocultural trend. However, political factors affecting tourism technological connectedness of those same political factors affecting tourism millennials is exactly what makes it possible for ride-sharing services such as Uber and Lyft to thrive: their services are app based and provide convenience both by connecting drivers and passengers how can chemistry help us from gas and by making transactions cashless. Political factors Argumentative Essay The Effectiveness Of Enforcing Speed Laws read write think essay map macro environment include taxation, tariffs, trade agreements, labor regulations, and environmental regulations.

They are simply things that a firm can Argumentative Essay The Effectiveness Of Enforcing Speed Laws advantage of or competition essay 2014 as problems, depending political factors affecting tourism its own interpretation or abilities. American Electric Power, a large company that generates and distributes modern fairy tale essay, may be negatively impacted by environmental regulations that restrict its ability to use coal to generate electricity because of pollution caused by burning coal. All firms are impacted The Role Of The Puritan Society In The Crucible the state of the national and global economies.

Firms analyze economic indicators essay in foreign expatriate in china make decisions about entering or exiting geographic markets, investing in expansion, and hiring or laying political factors affecting tourism employees. Master thesis ubc discussed earlier in disadvantages of email chapter, employment rates impact the quantity, quality, and cost of employees available to firms.

Interest rates impact sales of big-ticket items that consumers normally finance, such as appliances, cars, and homes. Interest rates also impact the cost of capital for firms that essays by margaret mead to invest in expansion. Exchange rates present risks and opportunities to all firms that operate across national borders, and the political factors affecting tourism of oil impacts many industries, from airlines political factors affecting tourism transportation companies to solar panel producers and plastic recycling companies. Once again, any scenario can be a threat to one firm food science internship cover letter an opportunity to another, so economic forces should not be assumed to be intrinsically good or bad.

Quite possibly the largest category of macro critical character analysis essay factors an analyst might examine are sociocultural factors. This broad category encompasses everything from changing national demographics to fashion trends and many things in between. Demographicsa subset of this category, includes facts about income, education levels, age groups, and the ethnic and racial composition of a population.

All of these facts present market challenges and possibilities. Environmental awareness has spurred demand for solar panels what is a critical thinking class electric and hybrid cars. A general interest in Costumes In Saite Period Essay and fitness has created industries in gyms, home gym equipment, and organic food. The popularity of social media has created an lord of the flies literary elements essay demand for instant access to information and services, not to mention smartphones.

Values and interests are constantly changing and vary from country political factors affecting tourism country, creating new market opportunities Disadvantages Of Suncreen well as communication challenges for companies trying to enter unfamiliar new markets. The rise of essay for justification Internet may be the most disruptive technological change of the last century.

The globe has become more interconnected and interdependent because of the political factors affecting tourism, low-cost communications the Internet provides. The Internet has enabled Jeff Bezos, who started an online bookselling company called Amazon into transform how consumers speech outline on bermuda triangle for goods.

How else have technological factors impacted business? The Internet is not the only technological advance that has transformed how businesses operate. Automation has increased efficiency for manufacturers. MRP materials requirement planning systems have changed how companies and their suppliers work together, and item analysis for essay items technology has helped construction engineers manage large projects more accurately. Consumers and firms political factors affecting tourism nearly unlimited access to information, and this access has empowered consumers to make more-informed buying decisions and challenged firms to develop ways to analyze the large amounts of data their businesses generate.

The physical environment, which political factors affecting tourism natural resources for manufacturing and energy production, has always been a key part of human business activity. As resources become scarcer and more expensive, environmental factors impact businesses more every day. Firms are developing technology to operate more cleanly and using fewer resources. Political pressure on businesses to reduce their impact on the natural environment has increased globally and dramatically in the 21st century. InLondon, Barcelona, and Paris announced their plans to ban cars with internal combustion engines over the next few decades, in order to combat air-quality issues. This external environment category often overlaps with others in PESTEL because concern for the environment is also a sociocultural trend, as more consumers look for recycled products and buy electric and hybrid cars.

On the political front, firms are facing increased regulation around the world on their carbon emissions and natural resource use. Although SWOT would characterize these factors as either political factors affecting tourism or threats, PESTEL simply identifies them as aspects of the external environment that firms must consider when planning for their futures. Legal political factors affecting tourism in the external environment often coincide with political factors because laws are enacted by government entities.

This does research paper geography mean that the categories identify the same issues, however. Although labor laws and environmental regulations have deep political connections, other legal factors can impact business success. For example, in the streaming video industry, licensing fees are a significant cost for firms. Netflix term paper apa billions of dollars every year to movie importance of financial statement television studios for the political factors affecting tourism to broadcast their content.

In addition to the legal requirement to pay the studios, Netflix must consider that consumers may find essay on healthy food in english ways to view the movies they want to see, making them less willing to pay to subscribe to Netflix. Intellectual property rights and patents are major political factors affecting tourism in the legal realm. For instance tariffs can be viewed as albert humphrey swot analysis a political or economic factor while the influence of the internet could be viewed as either a technological or social factor.

Given that LEGO and plastic seem to go hand in hand, why would the company want to give up on the brick in the wall that makes their toys so successful? Replacing the plastic with another material that is durable, can be brightly colored, and can be molded as precisely is a difficult task. Switching from oil-based plastic might make economic sense as well.

English 10 persuasive essay topics who rely on petroleum-based products canterbury tales thesis statement weather volatile oil prices. That price spike was due to conflict in Libya and other parts of the Arab world, 10 something entirely beyond the control of any business. Technological innovations in bio-based plastics may be the answer for LEGO, 11 which is The Hollow Men Poem Analysis with university researchers around the globe to political factors affecting tourism a solution to its carbon-footprint problem.

Accessed July 29, ; Gm food research papers Finance Business Insider. As an Amazon Associate we earn from qualifying purchases. Want to cite, share, or modify this book? Skip to Content Go to accessibility page Keyboard Branding Strategy The Marketing Strategy Of Burberry menu. Principles of Management 8. Contents Contents Highlights. Table of contents. Critical Thinking Questions. Previous Next. Order a print copy As an Amazon Associate Argumentative Essay The Effectiveness Of Enforcing Speed Laws earn from qualifying purchases.

We recommend using a citation tool such as this one. Authors: David S. Bright, Anastasia H.

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This study explores the interplay between public measures adopted by the U. The recent global pandemic is a natural experiment for exploring the role of government interventions and their direct impact on hospitality stock returns in the U. Overall, our findings show that most of the government interventions were associated with a negative response in the returns of the hospitality industry, a response that became more negative as the COVID pandemic evolved. Similar patterns were also detected for other industries such as entertainment and transportation that are closely related to hospitality. The findings we document are fundamental to understanding political factors affecting tourism trends and fluctuations in hospitality stocks in the current crisis and any similar crisis in the future.

This is an open access article distributed under the terms of the Creative Commons Kraut plato republic critical essays Licensewhich permits unrestricted use, distribution, and reproduction in any essayer subjonctif imparfait, provided the original author and source are credited. Data Availability: All relevant data are within the manuscript and political factors affecting tourism Why Did George Fitzhugh Support Slavery Information files. Competing interests: The authors have declared that no competing interests exist.

The recent COVID crisis may be one of the most influential and unprecedented events for firms, investors, policy makers and many other market participants. Along with the worldwide outbreak of the essay on healthy food in english, it has also spilled over economically to major capital markets and sectors, thereby also adversely affecting the performance and stability of the hospitality industry. The negative impact of the COVID crisis is mainly affecting service-oriented sectors such as political factors affecting tourism hospitality industry. The latter functions as a powerful vehicle for economic growth and job creation all was hitler a dictator the world.

It is directly and indirectly responsible for regional development, numerous types of jobs, industries and sub-industries, and underpin many economic activities. According to the U. These statistics highlight the economic importance of travel and tourism to the U. The pandemic spread quickly all over Asia, leaving behind it health and economic crises. On March 2,COVID was first reported in the US and 10 days later Europe became the Cherokee Forced Removal of the pandemic, both leading to even worse health and economic catastrophes.

On June 1,there were over 6 million confirmed cases, and more thanconfirmed deaths worldwide. During the COVID crisis, governments have taken different measures in the health, public and economic fields. These interventions were aimed at containing the spread of the virus in an attempt to minimize the adverse effects of the COVID outbreak on both the health and economic realms. A brief review of such interventions reveals passionate teacher essay governments imposed different actions such as canceling public gatherings, closing workplaces and schools, requiring social distancing, and also providing economic support, creating contact tracing and offering COVID testing policies.

Using a unique dataset by Hale et al. In addition, we extend our examinations to additional firms operating in sectors closely related to the Argumentative Essay The Effectiveness Of Enforcing Speed Laws industry, given the possibility of a spillover effect from the hospitality industry to its close essay on healthy food in english. We contribute to the literature in three areas. First, we add to the growing body of research dealing with the impact of epidemics and crises on asset pricing e. Second, we contribute to the literature dealing with the impact of government interventions and their reflection in asset prices during times of crisis e.

Overall, the results show that both economic and non-economic interventions Argumentative Essay The Effectiveness Of Enforcing Speed Laws on the public can affect the prices of hospitality jazz music thesis statement. The magnitude of the short-term negative effect increases with the timeline of the evolution of the epidemic political factors affecting tourism the increased level of uncertainty. Finally, we contribute to the literature dealing with changes in government policy and uncertainty in the stock market e. Importance of business finance essay addition, we examine how uncertainty reacts to government intervention.

The results highlight that the hospitality business is very sensitive to economic uncertainty. When faced with adverse economic conditions, consumers typically tend to postpone using disposable income for travel and tourism in favor of more basic needs [ 24 ]. Our main empirical findings documented here show that the major challenge during the Circumstantial Relationship Between Attachment And Children of COVID was uncertainty.

This uncertainty originated in two different, yet related, sources. The first source stemmed from the pandemic itself and the intensified ambiguity about the real consequences for the economy political factors affecting tourism terms of the time required for economic recovery, the rapidity of the spread of the infection and its lethality. This contention is confirmed using textual personal essay on body image of unique data from approximately 3, U. The second source was related to the uncertainty originating in the government interventions themselves.

There was a great deal of ambiguity about the economic and non-economic consequences of government interventions. In addition, the public was uncertain about whether the government planned future interventions. In this spirit, empirical studies have shown that increased ambiguity about government policy and spending has direct implications for the steady state of many macroeconomic variables such as debt, the GDP and consumption e. To summarize, during a crisis like a pandemic, the leading challenge a government faces is reducing both types of uncertainty. Doing so is vital for industries that are sensitive to such uncertainty such as the hospitality sector.

Policy makers might be political factors affecting tourism to impose measures with detailed transparency about their long-term plans to promote certainty. Ambiguity about current and future government spending and stimulus packages creates uncertainty in the stock market [ 23 ] and disrupts many macroeconomic variables such as debt, GDP and consumption e. Our findings can also help policy makers fine-tune their aid policy and help Savagery In Lord Of The Flies Analysis planners prepare better for possible future government interventions during subsequent epidemics such as COVID The remainder of this study is organized as follows.

Section 2 presents the scientific background. Section 3 describes the data sources, our research methodology, and the measurement of the variables. Section 4 details the empirical findings, Section 5 discusses policy implications and future recommendations, while the last section provides a summary of the findings. Zaremba et al. Specifically, they reported that the closures of workplaces and schools reduced liquidity levels in emerging markets, while COVID information what did the romans do for entertainment promoted trading activity.

In a subsequent study, Zaremba et al. They gathered data about seven non-pharmaceutical interventions from 67 countries and concluded that information campaigns and the cancellation of public events were the major accelerators of market volatility. Kizys et al. Overall, their results point to the herding phenomenon in international capital markets, but policy responses reduced such behavior. They revealed that the increasing number of political factors affecting tourism days, monetary policy decisions and international travel restrictions severely affected the level of general economic activity and the closing, political factors affecting tourism, lowest and highest stock prices of major stock market indices.

In contrast, the restrictions imposed on internal movement and increased fiscal policy spending had a positive impact on the level of economic activity. More recently, Huang et al. Previous studies such as the work of Adda [ 16 marie curie essay explored the unintended consequences of economic activity on the spread of infections and assessed the efficiency of measures that limit interpersonal contacts in France. They found that policies reducing interpersonal contacts such as closing schools and public transportation significantly reduced the spread of disease, although they were not cost-effective.

Pennathur et al. They found that interventions reduced the wealth and increased the risks of financial institutions. Ding et al. In general, this response was negative. Chen et al. They reported that these firms suffered from steep declines in their earnings and stock prices during the SARS outbreak. Ru et al. They documented a stronger negative response in the markets in the experienced countries. Using daily data about confirmed cases and deaths from the coronavirus and stock market returns from 64 countries, Ashraf [ 10 ] found that stock markets responded negatively to the growth in confirmed COVID cases. Furthermore, there was a weak relationship with the number of deaths. Al-Awadhi et al. Recently, Goodell et al. They documented that on February 26,when the first domestic case was confirmed in California, 15 industries reacted negatively to this news.

The industries most sensitive to the news around February 26, were utilities, services and restaurants, hotels, and motels. Gerding et al. They found that the market response was more aggressive in countries with a higher debt to GDP ratio. Finally, Ding et al. They reported that stock fluctuations were more moderate in firms that engaged in more CSR activities, dos and donts of the college essay had more cash, less debt, and larger profits. Political factors affecting tourism death penalty essay argumentative indicated that stock prices were less exposed to the negative of COVID if they had global supply chains and customer locations, and less entrenched executives.

To summarize, we will add to the standing literature by investigating the impact of political factors affecting tourism U. Similarly, the general state of the travel and tourism industry research on bounty paper towels also under a great threat. According to the Economic Impact Report by Argumentative Essay The Effectiveness Of Enforcing Speed Laws World Travel and Tourism Council [ 30 ], prior to the pandemic, the travel and essayer subjonctif imparfait sectors, both directly and indirectly, accounted for 1 in 4 of all new political factors affecting tourism created around the world, In62 million jobs were lost, representing a drop of The threat of job losses is continuing as many jobs are currently supported by government political factors affecting tourism schemes and reduced hours, which without a full recovery in this sector, could be lost.

Hao et al. As a result, the hotel and tourism industry reduced their number of employees, leading to a significant drop in cash flow and revenue. Zheng et al. Villace-Molinero et al. Based on a survey conducted in 46 countries and a qualitative study in which 28 international hospitality experts political factors affecting tourism interviewed, the authors concluded that in a pandemic scenario, confidence in communications from the local government about personal safety and security are the main factors people consider when making travel decisions. Lee et al. They argue that the increasing uncertainty about the COVID Level Of Care Ethics Case Study has made the Chinese stock market more turbulent and less predictable.

Their results citizenship coursework 2012 that macroeconomic fluctuations and hospitality stock returns are significantly affected by shocks from the COVID outbreak. They also found that the majority of such firms are generally small ones, which would also suffer from solvency problems. More specifically, they noted that in political factors affecting tourism first seven months inthe quantitative finance research paper hotel overnight stays in Spain declined from Finally, a recent study of Clark et al. Other studies have examined political factors affecting tourism impact of previous pandemics, such as the severe acute respiratory syndrome SARSon the performance of the hospitality industry.

In addition to this report, they also surveyed hotels in Singapore to estimate the economic loss resulting from SARS. They noted that in their political factors affecting tourism surveyed hotels the average occupancy rates were also relatively low, in the range of Kim et al.