STRATEGIC

MANAGEMENT FOR
TOURISM, HOSPITALITY
& EVENT
NIGEL EVANS
Analyzing the
external
environment
and SWOT
Group II – GATE
BSTM-3
The External Environment for Tourism, Hospitality and
Event Organization – The Macro Context

The Micro Context

SWOT Analysis for Tourism, Hospitality and Event

Organization
The external
environment for
tourism, hospitality
and event
organizations

4
External Analysis
Two Levels:

Marco-environment
 sometimes called the far, broad or
general environment.

Micro-environment
 sometimes termed near or
competitive.

5
 What is
macro-environment?

 The macro-environment  The general environment

refers to the broad within the economy that
influences the working,
environment outside an performance, decision making
organization’s industry and strategy of all business
and markets. groups at the same time. It is
dynamic in nature. Therefore,
it keeps on changing.

6
Marco-environment
Change in the macro-environment can be of
immense of importance to an organization in
the (amongst other important aspects) they
can:

 bring about the birth or dead of an

entire industry;
 make markets expand or contract;
 determine the level of competitiveness
within and industry.

It is therefore essential that the managers are alert to

actual and potential changes in the macro-environment
and that they seek to anticipate the potential impacts on
their industry and markets
7
Macro-environment
The most widely used technique for analyzing the macro-environment is divide it
into its constituent parts and here we use the terminology of STEEP Analysis.
The STEEP analysis is a tool used to map the external factors that impact an
organization.
STEEP stands for…

Economic
Social Technological Environmental Political

Some texts the STEEP acronym is replaced by STEP. And STEP acronym is turned around and
presented as PEST or sometimes PESTEL
Macro-environment
The most widely used technique for analyzing the macro-environment is divide it
into its constituent parts and here we use the terminology of STEEP Analysis.
The STEEP analysis is a tool used to map the external factors that impact an
organization.
STEEP stands for…

Economic
Social Technological Environmental Political

Peattie and Moutinho (2000) provide a review of some major environmental influences in travel and
tourism using an extended framework, which they term SPECTICAL analysis.
Macro-environment
The most widely used technique for analyzing the macro-environment is divide it
into its constituent parts and here we use the terminology of STEEP Analysis.
The STEEP analysis is a tool used to map the external factors that impact an
organization.
STEEP stands for…

Economic
Social Technological Environmental Political

Social, Cultural, Economic, Physical, Technical, International, Communication and

Infrucstructure, Administrative and institutional and Legal and political factors.
Macro-environment
The most widely used technique for analyzing the macro-environment is divide it
into its constituent parts and here we use the terminology of STEEP Analysis.
The STEEP analysis is a tool used to map the external factors that impact an
organization.
STEEP stands for…

Economic
Social Technological Environmental Political

Fleisher and Bensoussan use the term ecological, but here the term environmental is preferred
denoting that the analysis involves not just the ecological (natural environment) but also involves the
built environment
The main features of STEEP analysis

1
 Ginter and Duncan 1990
Identify the potential benefits of macro-environmental analysis as:
Increasing managerial awareness of environmental changes;
Increasing understanding of the context in which industries and markets function;
Increasing understanding of multinational settings;
Improving resource allocation decisions;
Facilitating risk management;
Focusing attention on the primary influences on strategic change; and
Acting as an early warning system, providing time to anticipate opportunities and threats
and devise appropriate response.

In many ways analysis of the macro-environment is more difficult than internal analysis since it involves
everything that occurs the organization.
Ginter and Duncan 1990
The problems when dealing with such a vast amount of information are:
Assessing what should be included;
Assessing what should be left out;
Determining how the information should be organized in a rational and meaningful way.

There are to simple rules governing ana analysis of the organization. Each analysis of the macro-
environment needs to be guided by what is relevant for a particular organization.
Lynch (2000:109)

Thus, though analytical; frameworks can be suggested for sorting and organizing pertinent information, the key
issues are likely to be highly specific to each organization’s circumstances.
Conducting macro-environmental analysis
For Ginter and Duncan (1990) macro-environmental analysis involves:

Scanning macro-environments for warning signs and possible environmental changes

that will affect the organization;
Monitoring environments for specific trends and patterns;
Forecasting future directions of environmental changes; and
Assessing current and future trends in terms of the effects such changes would have on
the organization.
Limitations of macro-analysis
 We should be careful to note that macro-environmental analysis has
its limitations and pitfalls.
At its root, the macro-environment can be extremely complex and at
any one time there may be conflicting and contradictory changes
taking place.

 Macro-environment often indicates a condition

affecting the overall economy, and it is not affecting a
particular section of the market. A macro-environment
condition will impact business decision. Spending,
vesting and borrowing activities can be affected due to
the presence of macro environment

 By the time that an organization has come to terms

with one major change in the macro-environment,
another change often occurs that requires even more
attention and action.
Limitations of macro-analysis
Accordingly, those managers that are concerned
with strategic analysis must;

• Be aware of the limitations and inaccuracies

of macro-environmental analysis;
• Carry out the analysis or update it
continuously
• Constantly seek to improve source of
information and techniques for its analysis;
• Use the information as one source of
organizational learning; and
• Use the information to inform future strategy.

At these points, macro-environmental analysis is a

valuable mechanism for increasing the strategic
awareness of managers.
How to carry out a STEEP analysis
The analysis is generally considered as falling into four
stages.
1. Scanning and Monitoring the macro-environment for actual or potential changes
in social, technological, economic and political factors.
2. Assessing the relevance and important of the changes for the market, industry
and business.
3. Analyzing each of the relevant changes in detail and the potential relationships
between them.
4. Assessing the potential impact of the changes on the market, industry and
business.
 What to analyze
When managers carry out a STEEP analysis as part of strategic analysis they
would normally examine how each factor might impact upon.

• The internal parts of an organization

- the effects of STEEP factors on the organization’s core competence, strategies, resources, value
system and the organization’s functional areas (operations, marketing, HR and Finance)
• An organization's markets
- the effect of the STEEP factors on product markets and the resource markets for HR, financial
resources
E.g. market size, structure, segments customer needs and wants, etc.
• The industry in which the organization competes.
- The effects of STEEP factors on the five competitive forces.
(buyer power, supplier power, threats of entry, threats of substitutes, competitive rivalry)
Overview of STEEP analysis
Macro-environment divided into 5 categories:

Technological Economic
Social

Environmental Political
Overview of STEEP analysis
 STEEP analysis sometimes called
- STEP, PEST or PESTEL
 Four stages of STEEP analysis
1. Scanning and Monitoring the macro-environment.
2. Assessing the relevance and important.
3. Analyzing each of the relevant changes
4. Assessing the potential impact
 Five key forces of old and new tourism
1. Consumers
2. Technology
3. Production
4. Management

2
5. Frame conditions
Socio-demographic influences
Analysis of the social environment is concerned with understanding the potential impacts
of society and social changes on business, its industry and markets.
Analysis of social environment will require consideration of:
Social culture (values, attitude and beliefs)
- The impact on demand for products and service, attitudes to work, savings and investment, ecology
ethics, etc.
Demography
- The impact of the size and structure of the population on workforce and patterns of demand;
Social structure
- The impact of attitude to work and productions
References
Nigel Evans, 2nd Edition . Strategic Management for Tourism, Hospitality and events
https://keydifferences.com/difference-between-micro-internal-and-macro-external-en
vironment.html

https://cleartax.in/g/terms/macro-environment
TECHNOLOGICAL
INFLUENCES
ANALYSIS OF THE TECHNOLOGICAL
ENVIRONMENT INVOLVES DEVELOPING AN
UNDERSTANDING OF THE EFFECTS OF
CHANGES IN TECHNOLOGY ON ALL AREAS OF A
BUSINESS AND ITS ACTIVITIES,

INCLUDING:
PRODUCTS AND SERVICES;
OPERATIONAL PROCESSES;
INFORMATION AND COMMUNICATIONS;
TRANSPORT AND DISTRIBUTION; AND
SOCIETY, POLITICS AND ECONOMICS.
ECONOMIC INFLUENCES

• There are many economic influences that

can affect the performance of an economy.
Some of the key economic influences
include:
FISCAL POLICY

• Fiscal policy is the regulation of the national

economy through the management of
government revenues and expenditures.
MONETARY POLICY

•Monetary policy is the regulation of the national

economy by varying the supply and price of money.

•Understanding these economic influences and how they

interact with each other is essential for policymakers,
business leaders, and investors to make informed
decisions and navigate economic cycles.
ENVIRONMENTAL INFLUENCES

• Environmental factors: Organizations need to be

aware of their impact on the environment and
comply with environmental regulations.
Environmental factors also include factors such as
climate change, natural disasters, and resource
depletion.
POLITICAL, GOVERNMENTAL, LEGAL AND
REGULATORY INFLUENCES

• Political, governmental, legal, and regulatory

influences are important macro environmental
factors that can impact an organization's
operations and performance. These factors
include:
POLITICAL FACTORS

• Governments can influence an organization's

operations through policies, regulations, and laws.
Changes in government policies can impact an
organization's operations and market conditions,
such as changes in trade policies or tax rates.
GOVERNMENTAL FACTORS

• Governmental factors refer to the role of

government in the economy and society.
Governmental factors can include the
provision of infrastructure, public services,
and support for businesses.
LEGAL FACTORS

• Legal factors refer to the laws and

regulations that organizations need to
comply with. These can include employment
law, consumer protection law, and
intellectual property law.
REGULATORY FACTORS

• Regulatory factors refer to the regulations

that organizations need to abide by. These
can include regulations related to health and
safety, environmental protection, and
industry-specific regulations.
STEEP ANALYSIS

• STEEP is a framework that is used to analyze the macro-

environmental factors that can impact an organization's
operations and performance. The acronym STEEP stands for:
• Social Factors
• Technological Factors
• Economic Factors
• Environmental Factors
• Political Factors
 STEEP ANALYSIS

• STEEP analysis is a useful tool for organizations to understand the

broader macro-environmental factors that can impact their operations
and performance. By analyzing each of these factors, organizations
can identify opportunities and threats and develop strategies that are
aligned with the external macro-environmental conditions. This
analysis can also help organizations anticipate changes in the macro-
environment and prepare for them accordingly.
CHAPTER SUMMARY

• Understanding the macro environment is important for

businesses because it helps them identify potential
opportunities and threats, and adapt their strategies
accordingly.
MICRO CONTEXT
INDUSTRIES AND
MARKET
■ Industries produce goods and services – the
supply side of economic system.
■ Markets consume goods and services that have
been produced by industries – the demand side of
the economic system.
The importance of industry and market identification
■ Some strategic management texts wrongly use the
terms industry and market interchangeably. Kay (1995)
points out that to confuse the two concepts can result in
a flawed analysis of the competitive environment and,
hence, in flawed strategy.
Ways of understanding markets, industries
and strategic groups in strategy

■ Kay (1995) considers the differences between

markets, industries and strategic groups.
■ Thus while an industry is centred upon producers
of a product or service, a market is centred on
customers and their requirements (needs and
wants). A particular market consists of a group of
customers with a specific set of requirements,
which may be satisfied by one or more products.
■ The strategic group is viewed as the competitive
battleground and is determined by classifying
companies with the similar strategies.
Industry analysis
What is industry analysis?
■ Industry analysis aims to establish the nature of
the competition in the industry and the
competitive position of the business. Industry
dynamics, in turn, are affected by changes in the
macro-environment.
 Micro- and macro-environments

■ .The micro (or near) environment is that which

immediately surrounds a business, the parts of
which the business interacts with frequently and
over which it may have some influence.
Toppr.com
■ The macro (or far) environment comprises those
influences that can affect the whole industry in
which a business operates. The macro-
environment comprises influence arising from
political, economic, socio-demographic and
technological factors. The nature of these factors
normally means that individual businesses are
unable to influence them – strategies must
usually be formulated to cope with changes in
the macro-environment.
Porter’s five forces model of industry analysis
Models that become widely accepted and utilized are generally
simple and easy to recall. Such is the case with Porter’s widely
used ‘Five Forces’ model of industry analysis. Furthermore the
concept has been widely applied and critiqued in the THE
academic literature (see for example Lee and King, 2006; Benson
and Henderson, 2011; and Tavitiyaman et al., 2011).
● the threat of new entrants to the industry;
● the threat of substitute products;
● the power of buyers or customers;
● the power of suppliers (to businesses in the industry); and
■ ● rivalry among businesses in the industry.
Force 1: The threat of new entrants to
the industry
The threat posed by new competitors
entering an industry is determined by the
“height” of various entry barriers. There are
numerous types of entry barriers.
 Brand loyalty and customer switching
costs
If the companies in an industry produce
differentiated products and services and
customers are loyal to particular brands, then
potential new entrants will encounter resistance
in trying to enter the industry.
■ Access to input and distribution channels

■ New competitors may find it difficult to gain

access to channels of distribution, which will
make it difficult to provide their products to
customers or obtain the inputs required.
The resistance offered by existing
businesses
■If existing competitors choose to resist
strongly it will make it difficult for new
organizations to enter the industry.
 GOVERNMENT REGULATION

In some situations new competitors are prevented from

entering the market by government or intergovernmental
regulation of the sectors.

Force 2: The threat of substitute products

A substitute can be regarded as something which meets the
same needs as the product of the industry. The extent of the
threat from a particular substitute will depend upon two
factors
THE EXTENT TO WHICH THE PRICE AND
PERFORMANCE OF THE SUBSTITUTE CAN MATCH
THE INDUSTRY’S PRODUCT
 Close substitutes whose performance is comparable to the
industry’s product and whose price is similar will be a serious
threat to an industry.

THE WILLINGNESS OF BUYERS TO WHICH TO

SUBSTITUTE
 Buyers will be more willing to change suppliers if switching costs
are low or if competitor products offer lower price or improved
performance.
Switching costs
 Switching costs are the costs that a consumer incurs
as a result of changing brands, suppliers or products.
Direct and indirect substitutes
 Direct substitutes are those that are the same in substance.
Direct substitutes may simply be competitive brands or
competing destinations.
 Indirect substitutes are those that are different in substance
but which can, in certain circumstances, provide the same
benefit.
Force 3: The bargaining power of buyers
The extent to which the buyers (customers) of a
product exert power over a supplying organization
depends upon a number of factors. Broadly speaking,
the more power that buyers exert, the lower will be the
transaction price. This has obvious implications for the
profitability of the supplier. The factors that affect the
relative power of buyers include.
THE NUMBER OF CUSTOMERS AND THE VOLUME OF THEIR PURCHASES

The fewer the buyers and the

greater the volume of their
purchases, the greater will be their
bargaining power.
THE NUMBER OF BUSINESSES
SUPPLYING THE PRODUCT AND
THEIR SIZE
If the suppliers of a product are large in
comparison to the buyers, then buying power will
tend to be reduced. The number of suppliers also
has an effect – fewer suppliers will tend to reduce
the bargaining power of buyers as choice and the
ability to ‘shop around’ is reduced.
SWITCHING COSTS AND THE AVAILABILITY OF
SUBSTITUTES

If the costs of switching to substitute products are low (because the


substitutes are close in terms of functionality and price), then
customers will be accordingly more powerful.
It should be born in mind that buyers are not necessarily those at the

end of the supply chain. At each stage of a supply chain, the bargaining
power of buyers will have a strong influence upon the prices charged
and the industry structure.
Force 4: The bargaining power of suppliers
Organizations must obtain the resources that
they need to carry out their activities from
resource suppliers. These resources fall into the
four categories we have previously encountered:
human, financial, physical and intellectual.
The major factors determining the strength of
suppliers are:
1. THE UNIQUENESS AND SCARCITY OF THE RESOURCES THAT
SUPPLIERS PROVIDE

If the resources provided to the industry are essential to it

and have no close substitutes then suppliers are likely to
command significant power over the industry
2. SWITCHING COSTS BETWEEN SUPPLIERS

In some cases switching between suppliers may be difficult

and costly. Close working relationships may have been built
up over a protracted period of time so that any new
supplier would not have the necessary knowledge or
experience required or systems and services may have been
tailored towards the requirements of a particular supplier.
3. THE NUMBER AND SIZE OF THE RESOURCES SUPPLIERS
 If the number of organizations supplying a resource is small and the
number of buyers is large, then the power of the suppliers over the
organizations will be greater in any industry.
Suppliers to an industry are likely to be most powerful when:

● the resource that they supply is scarce;

● there are few substitutes for it;
● switching costs are high;
● they supply the resource to several industries;
● the suppliers themselves are large;
● the organizations in the industry buying the resource are small.
When the opposite conditions apply then suppliers will be
weak.
Force 5: The intensity of rivalry among
competitors in the industry
Businesses within an industry will compete with each
other in a number of ways. Broadly speaking,
competition can take place on either a price or a non-
price basis.
● Price competition involves businesses trying to
undercut each other’s prices, which will, in turn, be
dependent upon their ability to reduce costs of
production.
● Non-price competition will take the form of branding,
advertising, promotion, additional services to customers
and product innovation.
In some sectors of the competitive rivalry is fierce, while
in others it is less intense or even non-existent since
oligopolies or monopolies are formed.
THE RELATIVE SIZE OF COMPETITORS
When competitors in a sector are of roughly equal size there is
a possibility that rivalry is increased as the competing
companies try to gain a higher degree of market dominance
but profits fall as a result of this increased rivalry.

THE NATURE OF COSTS IN INDUSTRY SECTORS

If sectors of an industry have high fixed costs in that they are
capital intensive, rivalry amongst competitors may become
more intense as price-cutting becomes a way of filling capacity.
THE MATURITY OF THE MARKETS SERVED
If the market is mature and thus only growing slowly
competition is likely to be more intense than a market
that is still growing vigorously.
THE DEGREE OF BRAND LOYALTY OF CUSTOMERS

 If customers are loyal to brands then there is likely to be less

competition and what competition there is will be non-price. If
there is little brand loyalty then competition will be more
intense.
The Degree of Differentiation

Where products can be easily differentiated, rivalry is less

intense whereas where differentiation is difficult rivalry is likely
to be intense.
 
The five forces framework and profitability – a summary
(after campbell et al., 2002:141)
Table 8.1 Force Profitability is likely to be Profitability is likely to be
higher if there is/are: lower if there is/are:

Bargaining power of suppliers Weak suppliers Strong suppliers

Bargaining power of buyers Weak buyers Strong buyers

Threat of new entrants High entry barriers Low entry barriers

Threats from substitute Few possible substitutes Many possible substitutes

products

Competitive rivalry Little rivalry Intense rivalry

Limitations of the five forces framework
Porter’s five-force framework represents a good starting point for the
understanding of competitive forces and has obvious value as a tool
for managers seeking a better understanding of such forces.

It implies that suppliers, buyers and competitors are threats

The framework is built on the premise that suppliers, buyers, and
competitors represent threats that need to be tackled. 
The industry – the industry within which the organization
currently deploys its resources and competencies in producing
products.

Resource markets – the markets from which the

organization, its competitors and other industries obtain their
resources.

Product markets – markets where the organization sells its

products. These can be subdivided into:
Markets for the organization’s products
Markets for substitute products
New markets to which the organization may be considering
entry.
Other industries – where businesses possess
similar competencies to those of the organization.

A resource-based approach to environmental

analysis
The resource-based framework
A resource-based framework for analysis of the business
and its competitive environment is divided into five
interrelated are:
 the organization;
 its industry;
 product markets (existing markets, markets for substitutes,
potential new markets);
 resource markets; and
 other industries
The organization
 the organization concerns the configuration of the internal
value chain, its competencies, resources and core
competencies and is discussed in Part 2 of this book
(particularly in Chapter 2).
The organization’s industry
 the organization’s industry consists of the business
and a group of companies producing similar products,
employing similar capabilities and technology.

Product markets
 product markets are those where businesses deploy
their competences and sell their products and
services.
Market subgroups
 an important part of understanding the market is
identifying subgroups within the market that share
common needs. 

Resource markets
- resource markets are those markets where organizations obtain
finance, human resources, materials, equipment, services, etc.
Strategic groups analysis
what are strategic groups?
A business can rarely confine its analysis to the level
of the industry and makes in which it operates.
Particularly pay attention to its closest competitors
(porter,1980)
Strategic groups analysis
Is an interesting way of analysis the competitive structure in an
industry and assessing the positioning of key competitors.

the organization
Its industry
Product market
Resource market
The organization
 the organization concern the configuration of the internal
value chain, resources and core competencies
The organization’s industry
 The organization’s industry consist of the business and a group of companies
producing similar products, employing capabilities and technology.
Product market
 Product market Are those where businesses deploy their
competences and sell their products and services.
Resource market
 Resource markets are those markets where organization obtain
finance, human resources, materials, equipment, service, etc.
Analysing the external environment
and swot
Competitors profiling
Industry and market critical success factor
 Competitors profiling
 The strategic group analysis potentially enables an organization to identify
its key competitors in a way that is easily communicated to both internal
and external groups.

How and where the competitors might pose a threat

Under what circumstances might collaboration be sought, and thereby
opportunities realized
Industry and market critical success factor
 Some examples of critical success factors include increasing
market share, attracting new customers, or launching new
products. Once you've determined your CSFs, you can set key
performance indicators (KPIs), which will establish deliverables
and specific criteria to measure project performance.
REFERENCES

Nigel Evans, 2nd Edition . Strategic Management for Tourism, Hospitality and
Events
consulterce.com
Toppr.com
 Chapter 9
SWOT analysis for tourism, hospitality and event
organizations
Introduction and chapter overview
SWOT analysis - ( sometimes referred to as TOWS analysis) is
an acronym where the letters stand for strengths, weaknesses,
opportunities and threats.
SWOT analysis has been widely applied in THE settings. It has
been applied not only to organizations operating In the sectors of
THE, but has also often been applied to destination and
individual events.
Inapplying SWOT analysis it is argued below that:
• Strengths and weaknesses are normally factors
which are internal to the organization, destination,
etc. and can be therefore be controlled by
managers; whereas
• Opportunities and threats are factors which are
external to the organization and consequently are
beyond manager’s control.
 However, in applying SWOT in the settings it is
very important to recognize that THE organizations,
destinations, festivals and events rely very heavily
on the resources that are available.
 ANALYSING THE EXTERNAL ENVIRONMENT AND
SWOT
SWOT analysis applied to Macau

Strengths

• The unique historical background and Sino-Portuguese

cultural features.
• Glamorous events take place all year around.
• Simplified entry procedures to southern China with most
visitors not requiring a Visa in advance.
 Opportunities

• Macao’s application for UNESCO World Heritage site

status (subsequently granted).
• The economic relationship with Mainland China has been
getting much closer.
• MCE tourism has been developing and could be a new
tourism growth in the future.
 Weaknesses
• Limited natural resources for tourism development.
• The average length of stay of visitors is short at about one day.
• A shortage of quantified local workers for its continuing tourism
development.
Threats
• Adversely affected by external shocks such as the Asian Financial
Crisis and SARS outbreak. Many tourists arrive by air from Taiwan,
the ‘Mainland-Taiwan’ issues may affect these decisions to visit or
use Macao for transit.
• Countries such as Australia, South Korea, Laos and Malaysia have
increasingly competed with Macao in the gaming market.
• Possible relaxation of gambling restrictions in mainland China.
Macao - is renowned as a gaming Centre and indeed
Macao is the world’s largest Centre for such activity.

KEY CONCEPT

SWOT - is the key technique for preventing the results

of strategic analysis. it provides a platform for going
on the formulate the strategy for the future.
 The strengths and weaknesses should normally be
based upon the internal analysis of the organization
whilst the opportunities and threats should be based
upon an analysis of the organization’s external
environment.

An important differentiator between the internal and

external environments is control. Whereas managers can
control the internal environment through the decisions
they make, they cannot control the external environment.
 Common errors with SWOT analysis
In his analysis of the problems of presenting a valid SWOT
Richard Lynch (2012:305) recognizes two common errors:

- Probably the biggest mistake that is commonly made in

SWOT analyses is to assume the analysis is bound to be
correct because it contains every conceivable issue and is truly
comprehensive.

-Another common error is to provide a long list of points, but

little logic argument and evidence. A short list with each point
well-argued is more likely to be convincing.
 INTERRNAL
Strengths Weaknesses

-Operational ability and age of equipment -Low quality and reputation

-Innovation processes and results -Products not differentiated
-Organization structure -Dependent on few products
-Reputation -Products in mature
-Differentiated products or declining PLC stages

-Good balance of products -Low market share

-Products or service quality
 EXTERNAL
Opportunities Threats

-New market segments -New market entrants

-New products -Increased competition
-Diversification opportunities -New destination or events
-Market growth -Technological threat
-Competitor weaknesses -Demographic change
 SMALL BUSINESS FOCUS
• Small business focus in THE sectors have significant
hurdles to overcome in successfully competing with
larger businesses, but they may also have some
advantages

• As Palmer (2011:275) points out small businesses are

often associated which a bundle of positive attributes
such as: Friendliness; Flexibility; originality and
Individuality.
• However, these are also a number of potential factors which
may inhibit small businesses performance which need to be
recognized and their impact appraised.
• In constructing a SWOT for a smaller THE organizations,
event or destination it might be useful to compile a simple
checklist which is probably far more focused on individual
characteristics of the owner/manager than they are likely to
be in larger businesses. However as with all SWOTs, it
should be based on robust analysis of all the relevant factors
taking into account both qualitative and quantitative data as
appropriate.
REFERENCES

Nigel Evans, 2nd Edition . Strategic Management for Tourism,

Hospitality and Events