Presentation -1-CW1- presentation assignment 2

Editor's Notes

• #3: Introduction The business environment and the business growth are often governed by plenty of factors (Elkington, 2018). These factors influence the processes and methodologies of the business in such a way that the policies of the organization including policies employed by the HRM department change. The said change occurs only through the motivation of developing the business and making it grow and scale-up. The same is the case in the context of Bentley motors. It has been one of the leading automobile brands in the UK and all over the world (bentleymotors.com, 2022). The said presentation shall throw some light on the internal, as well as, the external factors that shall be influencing the business. This analysis shall follow some of the basic theoretical frameworks like PESTEL analysis, SWOT analysis, Porter’s five force analysis, and so on. Further, an individual element from the marketing mix shall also be reviewed to create a poster on the same.
• #4: Strength 1. The said brand has acquired great popularity. This has increased the brand value of the said organization (Akarsu et al., 2020). 2. The aspect of innovation has been developed extensively, which avails an edge to the organization in terms of product development. 3. The product differentiation offered by Bentley is great. This has been one of the major strengths of the organization. 4. Brand equity of the said brand is excellent, which enhances the brand value. Weaknesses 1. The fundamental weakness of the said company is that it has a very limited reach and it does not reach the mass easily. 2. The customers have to wait for too long to acquire a position of the product, which could make the customers lose their interest. 3. The target audience of the said company is very limited. 4. Bentley lacks an environmental-friendly approach, which forms a weakness. Opportunities 1. Brentley does have an excellent opportunity of creating environment-friendly awareness through its products by developing greener products. 2. A variety of smaller brands, which are not well-reputed could be easily acquired and merged. 3. The said organization has an excellent opportunity in expanding in emerging markets to earn more profitable business. 4. The promotional drives of the said organization could be developed greatly, which is a demand of the era. Threats 1. The fuel prices have been rising for the last few years, which proves to be a prominent threat for the said organization (Li and Leung, 2021). 2. The fierce competition with the market rivals like Aston Martin, Tesla, etc. could be another threat for Bentley. 3. The laws of the government have been changing, which could hinder business growth. 4. The overall monetary miscalculations could prove to be a potential threat for the said business.
• #5: Internal Factors Human Resources Human resource proves to be an extremely important organizational function and department, which is responsible for recruiting, maintaining, and retaining the talent available with the business to grow the business in terms of quality (Renkema et al., 2020). Apart from this, the said department acts as a bridge between the management and the employees. From the context of Bentley, the HRM department has been recruiting the correct talent by adopting different methodologies. Moreover, it maintains the integrity of the company.   Finance The monetary regulation is maintained throughout the organization by the finance department. Apart from this, the fund allocation is made by the said department (Kimanzi and Gamede, 2020). These funds are allocated for the internal processes of the organization such as marketing, production, inventory control, etc. Bentley also possesses an excellent finance department, which is responsible for a sensible expenditure from the organization's end. Apart from the said points, it helps the company to grow economically.   Current Technology The updated and bleeding-edge technology adopted by Bentley shall provide the company with an edge over its competitors. This is because the said internal factor provides an aspect of innovation. The innovation in the products, as well as, the processes fetches sustainable development in the business. Therefore, the business tends to grow sustainably. Also, the company becomes more profitable in a variety of aspects.
• #6: Political 1. Brexit- Due to the said phenomenon of Brexit, the political trade laws have changed drastically, which has proven to be a significant threat for the said business. The organization might incur a loss. 2. Change in the government- Due to upcoming elections, the change of government in the UK might fetch significant alternations in the processes of Bentley. Due to this, the business strategies of the organization shall also change. Economical 1. The pandemic outbreak- Due to the outbreak of the pandemic, the country had seen a massive economic crunch. In addition to this, there was a high rate in the unemployment rate, which affected the business (Emerson et al., 2021). 2. Increasing inflation rate- There is seen to be a significant spike in the rate of inflation within the UK. Due to such events, the buying power of the consumers lowers down, which reduces the demand. Social 1. Population growth rate- The growth of the quantum of the population has been exponential in the past few years (Bikakis, 2020). This has created more demand for the said organization. Therefore, it has been proving to be advantageous for Bentley. 2. Consumer trends- The trends of the consumers have been more inclined towards sustainable products, which support the environment as well. This fetches an opportunity for the business to grow. Technological 1. Technological innovation- The aspect of technological innovation shall fetch an advantageous edge to the said organization over its competitors, as it shall promote a better product portfolio and differentiation. 2. Rapidly changing technology- The technological world has been changing rapidly. Due to this, there is a significant chance that the existing technology shall become obsolete in no time. Therefore, it imposes a threat for the said business.
• #7: Threat Of New Entrants The entry of the new business does not create a significant impact on the business of the said organization. This is because Bentley has a strong reputation and brand value. Also, the cost required to fund the business initially and compete is too much for the new entrants to bear. Hence, this forms a weak force from the context of the said business.   Threat Of Substitution The availability of the products or the services that are perfectly replaceable with the existing business is called the threat of substitution. In the said case, due to strong brand value, the customers are left with very few options to look out for. As a result, the said brand has become impeccable and thus, it has now become irreplaceable. Hence, this is a weak force.   Industrial Competition There are very few real competitors of the said organization, which can have a face-off with Bentley. However, the market share occupied by these brands like Aston Martin, Jaguar, Tesla, etc. is also considerable (Hu and Qiu, 2020). Therefore, it forms a moderate force. Therefore, the organization needs to keep the competitors at a safe distance to avoid them surpassing itself. Bargaining Power Of Suppliers The market in which Bentley operates is highly diversified. Due to such diversification, there are plenty of suppliers that make their material available for the said organization. Therefore, the power held by the suppliers gets distributed among them. As a result, it forms a weak force and it makes the said business non-negotiable.   Bargaining Power Of Customers The products manufactured by the organization have been unique and highly differentiated. Also, there are very few alternatives found in the market, which would be opted by the consumers within the same price. Therefore, the negotiating power of the customers is also low, which makes it a weak force. Therefore, the said brand has an edge in the market.
• #8: Conclusion The said presentation has discussed a variety of factors that create an impact on the business. These factors are broadly classified as micro and macro-environmental factors. Alternatively, these factors could be called internal and external factors respectively. From the context of the said organization, the presentation completed the internal analysis by analyzing strengths, weaknesses, opportunities, as well as, threats which were followed by the internal departments, which prove to be vital in maintaining supreme control over the working conditions of the said organization. The presentation further assesses political, economical, social, and technological factors that could govern the business process. Apart from this, external forces that drive the business policies are also discussed through the said presentation. The most important learning from the said analysis is that the business needs to be operated effectively by assessing all of the above-mentioned factors simultaneously. Therefore, the internal and external environmental analysis of Bentley was studied through this presentation report.
• #9: References Akarsu, T.N., Foroudi, P. and Melewar, T.C., 2020. Transforming the Complexity of Having Multiple Channels to an Asset: Reflective Critics on the Dual Marketing and Co-branding. In Beyond Multi-channel Marketing. Emerald Publishing Limited. bentleymotors.com, 2022. [Online]. Available at: <https://www.bentleymotors.com/en.html> Accessed on: [16th February 2022]. Bikakis, T., 2020. Climate Change, Flood Risk and Mortgages in the UK: a Scenario Analysis. The New School Economic Review, 10(1). Elkington, J., 2018. 25 years ago I coined the phrase “triple bottom line.” Here’s why it’s time to rethink it. Harvard business review, 25, pp.2-5. Emerson, E., Stancliffe, R., Hatton, C., Llewellyn, G., King, T., Totsika, V., Aitken, Z., and Kavanagh, A., 2021. The impact of disability on employment and financial security following the outbreak of the 2020 COVID-19 pandemic in the UK. Journal of Public Health, 43(3), pp.472-478. Hu, M. and Qiu, S., 2020. Analysis on the Market Positioning of Luxury Autos Marketing Strategy under the Chinese New Consumption Upgrading—taking the Case of Bentley Continental GT. Kimanzi, M.K. and Gamede, V.W., 2020. Embracing the role of finance in sustainability for SMEs. International Journal of Economics and Finance, 12(2), pp.453-468. Li, R. and Leung, G.C., 2021. The relationship between energy prices, economic growth and renewable energy consumption: Evidence from Europe. Energy Reports, 7, pp.1712-1719. Renkema, M., Bos-Nehles, A. and Meijerink, J., 2020. Implications of self-managing teams for the HRM function. Baltic Journal of management.