ndustry Forecasting Select an industry that interests you. Using the political, economic, social,...

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ndustry Forecasting Select an industry that interests you. Using the political, economic, social, technological, environmental, and legal (PESTEL) analysis as covered in the text, analyze the factors...

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ndustry Forecasting

Select an industry that interests you. Using the political, economic, social, technological, environmental, and legal (PESTEL) analysis as covered in the text, analyze the factors that may impact the industry that you have selected and the successful marketing of a company’s product. Evaluate the factors you perceive to be the biggest strengths and weaknesses. Describe some opportunities for growth that could be capitalized over the next five years.

Your paper must be a minimum of three to four pages (not including the title and reference pages) and be formatted according to APA style as outlined in the Ashford Writing Center. You must use at least three scholarly sources from the Ashford University Library, one of which must be peer reviewed, in addition to the textbook.

The paper

Must be three to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center(Links to an external site.)Links to an external site..
Must include a separate title page with the following:

Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted

Must use at least three scholarly sources from the Ashford University Library, one of which must be peer reviewed, in addition to the textbook.
Must document all sources in APA style as outlined in the Ashford Writing Center.

Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center

Answered Same Day Nov 20, 2020

Soumi · Accepted Answer

Running Head: INDUSTRY FORECASTING		1
INDUSTRY FORECASTING 		2
Industry Forecasting
Student’s Name: __________________________
Course Name and Number: __________________________
Instructor’s Name: __________________________
Date Submitted: __________________________
Table of Contents
PESTEL Analysis of Hospitality Industry	3
SWOT Analysis of Hospitality Industry	6
References	8
The selected industry for analysis and forecasting is the Hospitality Industry, which is one of the fastest growing as well as one of the most successful industries in the business world. As stated by Brown, Boon and Pitt (2017), it includes both the restaurants and hotels, along with their various classifications; hence, it is involved with providing both products as well as services. In order to analyze the factors that affect the hospitality industry and its offerings, PESTEL analysis has been done, while SWOT analysis has helped to evaluate the key strengths, weaknesses and opportunities that this industry could implicate in the forthcoming five years.
PESTEL Analysis of Hospitality Industry
	Factors 
	Explanations
	Political 
	· Changing government
· Governmental rules
· Clashes between the political parties
· New government policies for taxation
· Terrorist attacks
	Economic 
	· Exchange rate
· Economic stability
· Recession 
	Social 
	· Demography
· Cultural background 
· Cultural preferences
· Nature of stay
	Technological 
	· Availability of Wi-Fi service
· Online bookings facilities
· Apps
	Environmental 
	· Availability of natural resources 
· Raw materials 
· Climate 
· Location of hospitality organization 
· Sustainable environmental practices 
· Corporate social responsibilities
	Legal 
	· Health and safety laws
· Business and labor laws
· Tourism regulations
Political factors such as the changing government, governmental rules, clashes between the political parties and political turmoil such as implementation of new government policies for taxation lay significant impact upon the operations of a hospitality organization. As mentioned by Shani, Uriely, Reichel and Ginsburg (2014),

ndustry Forecasting Select an industry that interests you. Using the political, economic, social, technological, environmental, and legal (PESTEL) analysis as covered in the text, analyze the factors...

ndustry Forecasting

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