Business Entities, Risks, and Environmental Influences on the Hospitality Sector in New Zealand

Part A: The Nature of Business Entities and Risks, and Management and Organisational Practice

Learning outcomes

1. Identify the nature of business entities and risks and explain aspects of management and organisational practice.

2. Analyse environmental influences on a business entity including innovation and adapting to changing environmental conditions.

Instructions

• Attempt all questions.
• Many questions have multiple parts. There is no set format for answers, but make sure you clearly cover everything in each question.
• Questions have a word limit (a 10% variance is acceptable.)
• References to academic literature will help strengthen the arguments presented in your work. Where you are using ideas from other sources, these must be acknowledged appropriately using

APA style.

Part A: The nature of business entities and risks, and management and organisational practice Write a description of three types of business entities in New Zealand. Your report needs to cover each of the three following business entity types:

• private business
• not-for profit
• social enterprise.

Your answer must be supported with references to practical examples, and management and organisational concepts. Choose one New Zealand business for each entity type. Using these businesses as examples, identify and explain the following for each business.

a) Four distinguishing characteristics of that business that illustrate why it is of that business entity type
b) Two key challenges or risks that might be faced by a manager of each entity.0
c) Using a business entity type of your choice, explain how this entity type could use each of the four functions of management (PLOC) to effectively mitigate risks.

Part B: Environmental influences on a business entity and changing environmental conditions To be successful, businesses need to pay attention to what is happening around them and adapt to conditions. There may be internal events that are happening within the business that affect it, or the effects may be caused by external situations. In addition, megatrends are significant changes that happen over time. These may occur gradually, but still have a significant impact on how businesses operate.

Your task in Part B is to write a report about the hospitality sector. The report is about environmental influences and how they impact the hospitality sector. To find out more about the hospitality sector in New Zealand

In your report, you need to:

a) Identify two external environmental factors and one internal factor that affect a company in the hospitality sector in New Zealand. Analyse how each of these factors affects the decisions made by managers in this company.

b) Identify and analyse two megatrends that are likely to have impacted this industry in New Zealand. Give relevant examples to support your analysis. Consider how these megatrends have influenced innovation and adaption in the hospitality sector.

c) Identify two environmental risks that are likely to be faced by this industry in New Zealand. Analyse how these risks can be managed by organisations. Select the most effective options from the four key ways to manage risk:

o avoid
o accept
o control
o share.

Support your answers with relevant references to examples from the industry and  management concepts.