Question: Strategic Management Changes in the General External Environment affect different industries differently, as pointed out in Chapter 3. Two industries currently being affected by many

Strategic Management

Changes in the General External Environment affect different industries differently, as pointed out in Chapter 3.

Two industries currently being affected by many changes in the General Environment are the SINGLE FAMILY HOUSING INDUSTRY and the ACCOMMODATION INDUSTRY (hotels, motels, resorts).

Do a complete General External Environmental Analysis (PESTEL Analysis) of the ACCOMMODATIONS INDUSTRY.

Look at the Political, Economic, Social, Technological, Environmental, and Legal conditions or changes that currently affect the industry. Consider, as well, the effects of the COVID-19 pandemic that you believe would have a long term effect on the industry.

Determine for each significant condition or trend that you identify, in each of the six (6) categories, which ones are POSITIVE for the industry and which ones are NEGATIVE. Explain why for each one.

As a firm manager in the industry, explain what actions would lead to a profitable business, given the conditions and trends. Explain how you would take advantage of the POSITIVE conditions or trends and offset the NEGATIVE conditions or trends?

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