Assignment: Your Business Strategy in the Global Environment This week’s materia
ID: 393990 • Letter: A
Question
Assignment: Your Business Strategy in the Global Environment This week’s materials focus on your innovations and creativity in a global environment. Congratulations! You have just started a new business! Your assignment has three parts, but is submitted in one paper. the paper i want you to do is aboit rental car company 1. First, tell me what your new business is. Do you provide a service, or a product? Define this business you have spent so much time dreaming of starting. 2. Next, develop a PEST Analysis using this template: PEST-analysis-template-doc.doc . 3. Finally, describe how you are going to grow this business in the global environment.
Explanation / Answer
ANSWER : BUSINESS STRATEGY ON CAR RENTAL COMPANY .
Our new business will be in car rentals and our company name is Smart car sevices which provide service globally in future in service sector. To start with new business we must have business strategy based on PEST analysis. Our cars will be GPS enables and 24 hours day / night connected with driver and customer care.
Comparative studies : Increasing market demand opens possibilities in the areas of new technologies ans sustainability as follows: Risk of increasing costs need to be considered.
PESTAL ANALYSIS
POLITICAL AND LEGAL: Government requires commercial licences, political discussion about minimum wage laws for taxi industry . Decreasing profit may be due to govt. change in policy.
ECONOMIC: price sensitivity, growing profit in corporate sector increases demand for private sector transport.
SOCIAL: Population density is growing in cities, people faced fast passed life style, increasing demand for transport in urban sector.
TECHNOLOGICAL: Automobile sector works on technologies for more sustainable vehicles, use of mobile applications for daily activities is increasing, the market is open for technological enhancements and innovation.
ENVIRONMENTAL: Trends goes towards environmental friendly and sustainable transportation, growing demand for for electrical and hybrid cars.
COMPETITIVE LANDSCAPE
Total Companies Profiled: 93 (including Divisions/Subsidiaries - 122) The United States (30) Japan (5) Europe (45) - France(4) - Germany (2) - The United Kingdom (18) - Italy (1) - Spain (4) - Rest of Europe (16) Asia-Pacific (Excluding Japan) (21) Middle East (6) Latin America (6) Africa (6) Caribbean (3)
he car rental industry is growing very fast and demand for this industry has been increased globally in the past few years. The global car rental industry looks good and seems so many opportunities for this sector in the future. With the increase of national and international tourists in different countries, the industry is expecting more growth and bright car rental business opportunities.
There are several factors which are responsible for the growth and development of the Car Rental Industry. Here are some of the most prominent reasons behind the success of the Car Rental Industry.
Car Rentals – One of the most Preferred Mode for Transport
For most of the travellers, renting a car is one of the easiest and cost-effective solutions to travel. You can choose your preferred car and cover the distance you want. Often Car Rental companies offer great deals and discounts which can save money for you. Also by renting a car, you can enjoy a convenient journey.
These days most of the people prefer car rentals as one of their favourite mode of transport. With number of vehicle options like luxury cars, economy cars, sports vehicles, multi utility vehicles, etc, car rental companies are making it available for every customer.
Another reason behind the growth of the car rental industry is its availability for everyone. People from different sectors can use it for business purpose, leisure and for other purposes. Now with the availability of the Car Rental Management Software, this industry is providing easy online and offline booking services, automotive rental reservations and management and exciting deals and offers. All these features surely grab attention of more customers.
Now consumers can easily find the best vehicle options as per their requirements and book the car from anywhere. Even if it is a large group of people or group of 2 or 3 companies provide the best options.
Future opportunities
Car Rental Business in the whole world growing rapidly. While several players have already entered and established themselves in the market, there is still scope for others. Every company is trying to provide better services and offers to get more reservations and this is bringing improvement and use of new automated technologies in the market. Now rental companies are focusing on customer support, training, sales and marketing to stand out clearly and to communicate better with the customers. This will increase the customer footfalls and sales.
Most of the car rental businesses are doing good and some of them are working hard on every facet to improve their services. We can expect a bright future for all car rentals who are implementing smart tricks and technologies to stand out in the market. To provide better services and automate the business, many car rental companies are using car rental management software. Software minimizes the task for the management and they can concentrate on developing business plans and new strategies for the development of the business.
GLOBAL MARKET PERSPECTIVE
World Recent Past, Current & Future Analysis for Car Rental by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East/ Africa and Latin America Markets Independently Analyzed with Annual Revenue in US$ Million for Years 2016 through 2024 (includes corresponding Graph/Chart) .
World Historic Review for Car Rental by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East/Africa and Latin America Markets Independently Analyzed with Annual Revenue in US$ Million for Years 2011 through 2015 .
World 14-Year Perspective for Car Rental by Geographic Region - Percentage Breakdown of Revenue for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle East/Africa and Latin America Markets for Years 2011, 2017 & 2024 .
GLOBALLY COMPETITIVE LANDSCAPE
Total Companies Profiled: 93 (including Divisions/Subsidiaries - 122) The United States (30) Japan (5) Europe (45) - France(4) - Germany (2) - The United Kingdom (18) - Italy (1) - Spain (4) - Rest of Europe (16) Asia-Pacific (Excluding Japan) (21) Middle East (6) Latin America (6) Africa (6) Caribbean (3)
he car rental industry is growing very fast and demand for this industry has been increased globally in the past few years. The global car rental industry looks good and seems so many opportunities for this sector in the future. With the increase of national and international tourists in different countries, the industry is expecting more growth and bright car rental business opportunities.
There are several factors which are responsible for the growth and development of the Car Rental Industry. Here are some of the most prominent reasons behind the success of the Car Rental Industry.
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