PESTEL Strategic Analysis and Research Methods

Strategic Analysis Report
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(1,947 Words)
Table of Contents
 TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc61300625"
List of Tables  PAGEREF _Toc61300625 \h
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Introduction  PAGEREF _Toc61300626 \h
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External Analysis  PAGEREF _Toc61300627 \h
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1. PESTEL Analysis  PAGEREF _Toc61300628 \h
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2. Key factors for Success (KFS)  PAGEREF _Toc61300629 \h
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Internal Analysis  PAGEREF _Toc61300630 \h
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1. VRIO analysis  PAGEREF _Toc61300631 \h
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2. Categorization  PAGEREF _Toc61300632 \h
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Key Strategic Issues  PAGEREF _Toc61300633 \h
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Conclusion  PAGEREF _Toc61300634 \h
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References  PAGEREF _Toc61300635 \h
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List of Tables
 TOC \h \z \c "Table"  HYPERLINK \l "_Toc61300598"
Table 1: PESTEL Summary  PAGEREF _Toc61300598 \h
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Table 2: VRIO Analysis Summary  PAGEREF _Toc61300599 \h
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Table 3: Tangible & Intangible Resources  PAGEREF _Toc61300600 \h
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Table 4: Hierarchy Analysis  PAGEREF _Toc61300601 \h
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Strategic Analysis Report
Introduction
This strategic analysis will focus on the hospitality industry that serves as a significant aspect of the economy. Several businesses and companies are involved in the industry, which provides employment opportunities while also adding to the cash flow by attracting customers to spend their money on various delicacies offered. Furthermore, the Lucky Star Restaurant will be the focus of the internal analysis section of the paper. Being a Chinese restaurant, it offers traditional Chinese food to the residents of Plymouth. The restaurant lies under the Small and Medium Enterprises (SMEs) due to its relatively small size and few employees running the establishment.
External Analysis
PESTEL Analysis
The PESTEL analysis offers an overview of the macro-environment concerning the company's future with regard to its industry. This analysis further helps the business make strategic decisions that might influence its performance in the long run (Lynch, 2018). Consequently, the following PESTEL analysis shows the potential external factors likely to affect the business.
Political Future
Political stability can affect the industry with changes affecting the proper running of restaurants. With the United Kingdom has left the European Union (EU) with the expiry of the transition period on December 31, political changes and relationships between the country and others might change. As a result, people's employment from the EU may become problematic, thus requiring businesses to look for alternative sources (Cole, 2019). Apart from that, taxation can hugely affect small businesses in the foodservice industry due to the small margins. Therefore, businesses that may r...