Question

ENTREPRENEURSHIP

(2500-3000) Words

Question1:

Choose a popular travel agency in Malaysia such as Reliance Travel Malaysia, Mayflower, POTO Travel & Tours, and Andalusia Travel & Tours. Explain the elements of its macro environment including the recent COVID-19 pandemic outbreak and discuss how these elements affect the company. Recommend improvements that can be made by the company in managing its macro environment effectively.

Criteria:

1) Description of the selected organisation

2) Description of the general macro environment elements

3) Identification and discussion of element(s) of macro environment that affects the selected organisation

4) Recommendations to improve management of the macro environment in the selected organisation

5) Summary

6) References and citations (APA Format)

Answer 1

About reliance travel Malaysia:

1. Description About the company: It was established in 1969. It deals in the tour and tourism. It is one of the famous and top tourism company in Malaysia. It was listed on KLSE in 1993. The company's brand value is trust, speed, and choice. They provide a travel package all over the globe. They believe in customer satisfaction as the customers are the most valuable asset.

2 & 3. Description and discussion of the general macro environment elements that affected the company: The macro-environment factors are:

a. Government policies - Reliance obey government policies of the government. The tourism business is one of the top business in the Malaysia, so they have a bright future in Malaysia, and the Malaysian government always welcome the tourism countries and they have a bright future there. But due to COVID 19 pandemic, the tourism is declining.

b. Economic factor: Malaysian government has made multiples policies for the national and international companies so that the companies can give stimulate the growth of the country. but due to the pandemic and decline of the tourism industry, it has worsen the economic condition of Malaysia. The GDP of Malaysia is also declining. As the tourism is the most prominent business in Malaysia, the pandemic has the worst impact on tourism.

c. Social Factor: This pandemic has made the worst impact on the spending power of the customers. Due to economic crisis, the spending power is declining. There will be now changing demands of the customers according to their needs during traveling which has to entertain by the company.

4. Recommendations to improve management of the macro environment in the selected organization:

a. Government policies: The company should make arrangements that will give full protection to the tourists so that they can travel freely without any fear of pandemic.

b. Economic factor: Reliance Travel Malaysia should make the plans flexible so that they postpone the plan of traveling rather than canceling the plan.

c. Social Factor: Reliance tends to make the new customized plans according to the customer's demand.

5) Summary: COVID 19 pandemic has affected most of the tourism industry of the world. The impact of this has resulted in the decline of the GDP of the countries where tourism industries have a wide scope. This leads to the vanishing of certain industries which will result in the violent decline of certain companies. That's why the company should go as per government policies and being on the safer side.