Essay: Role of External Environment in the Operational Strategy
External environment plays an important role in the operational strategy of an organization. In the scenario of an event management company evaluation of the external strategy is considered as one of the most important aspects. Strategists and analysts actually believe that the external environment of an organization have the tendency to provide both facilitating and inhibiting influences on the performance of an organization. The external environment in the scenario of an event management company directly effects the major decision making process of an organization. In the similar manner it can be said that there are certain factors like task and the competitive environment. The task and the competitive environment include factors like competitors, suppliers and customers.
Competitors: The event management company is focusing on a certain niche and this organization focuses on 30 clients. These 30 clients belong to mostly upper class of the society. However, it can be said that there are different PR companies that have engaged in event management activities and these organizations can be considered as the competitors of this event management company. However, research suggests that the fierce competitors of this organization in London would be silver leaf events, London Launch etc. However, there are certain other indirect competitors which include PR oriented companies etc.
Suppliers: The suppliers are considered to be one of the key stakeholders of the company that is the reason why PR and event management companies usually stresses a lot on their suppliers. The suppliers would incorporate elements like catering, decorations, food items and the raw material that would be used in organizing events. In the similar manner usually event management and PR companies focuses on more than one supplier because suppliers are of utmost importance for an organization.
Customers: The customers are of utmost importance for an organization and no organization can survive without its customer. Although this event management company is focusing on a niche market and that is the reason why core importance is give to the customers. There are almost 30 customers of this organization and they are focusing on these 30 customers that’s the reason why new and modernized strategies are developed by this organization to target these 30 customers.
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