Elvaston Castle Analysis

Slide 1

TFor decades, Elvaston Castle has been a significant recreational park in Derbyshire county, but county council funding cuts halted its maintenance contributing abandonment. Conducting an environmental analysis of Elvaston Castle is crucial for evaluating the factors for promoting business success. Therefore, the presentation evaluates Elvaston Castle’s business analysis.

Slide 2

Organizations cope with future uncertainties by undertaking an environmental business analysis to review the business and the industry. Utilizing effective business models could enable an organization like Elvaston Castle to develop a strategic plan that would increase its ability to leveraging its potential and cope with possible threats and weaknesses.

Slide 3

Different business models are employed to identify environmental issues likely to affect business performance. PESTEL and SWOT analysis are applicable in evaluating the business chances and problems likely to affect Elvaston Castle's performance. Further, Porter’s five forces and socio-cultural factors would promote the evaluation of business attractiveness and competitiveness.

Slide 4

PESTEL analysis evaluates the political, economic, social, technology, legal, and environmental-related factors likely to impact the performance of an organization. PESTEL tool focuses on the six factors to understand the stability of business in different situations resulting from the crucial external factors. Elvaston Castle's evaluates the position of factors within England.

Slide 5

Political differences in England delay Elvaston Castle's master plan implementation given the idea of developing the park for profitable activities faces significant opposition. Economic factors such as consumer confidence gained from positive customer experiences. More so, considering the relevant social factors such as adopting modernized recreational options enhances the performance of the park.

Slide 6

21st business environments are largely favored by technology advances and the inclusion of new technologies at Elvaston Castle will promote the growth of the park. Equally, considering environmental conservation projects such as pollution prevention will promote business success. Developing options for coping with legal changes will promote Elvaston Castle's ability to cope with negative changes.

Slide 7

Elvaston Castle and Garden's strengths such as availability of attractive outdoor locations and facilities, enough development land, and supportive community and county council. The weaknesses include limited capital for park maintenance and mismanagement. Opportunities include the possibility of revenue growth and development opportunities. Threats relate to high competition and weather barriers.

Slide 8

Elvaston Castle has strengths that favor its growth and visitor numbers such as attractive facilities, historical elements, public accessibility, and free parking options for disabled. The implementation of the master plan is advantaged by support from the county council and the community as well as the availability of ample land.

Slide 9

Although a business could be successful, overwhelming organizational weaknesses such as delayed maintenance and minimal entertainment activities could limit its ability to maximize the use of available resources and sustain a competitive advantage. Poor management in crucial areas such as marketing stagnates or reduces the number of visitors to the park and could easily contribute to negative customer experience.

Slide 10

Business opportunities are crucial to allowing organizations to boost growth and performance. For example, Elvaston Castle could appreciate development opportunities to enhance the visitors’ attraction and experience. Equally, opportunities for increasing the spending per person by adding recreational activities and activities for growing the organization revenue could speed Elvaston Castle’s growth.

Slide 11

Organizational threats slow down competitive advantage efforts and the employed coping strategies determine success continuity. Competition from similar businesses creates the need for promoting customer experience and the efficient use of available resources. Despite Elvaston Castle having ample land, the cafeteria’s size inhibits pet entry thus the need for creating a pet area.

Slide 13

Porter's five forces help organizations determine their attractiveness and stability following changes in the crucial market forces. The stability is evaluated against threats of new businesses to the market or against the emergence of substitutes. Other factors include the bargaining powers of both buyers and suppliers and the degree of rivalry with competitors.

Slide 14

Organizations' competitive advantage is largely affected by the entry of new businesses to the market. Basically, organizations seek to evaluate the possibility of new entrants disrupting the market to develop strategies increasing market strengths. Elvaston Castle should focus on advancing its brand loyalty as well as overall attractiveness in the industry.

Slide 15

Substitutes limits business attractiveness. The existing optional entertainment options including indoor activities preferred by a key target market for Elvaston Castle reduces its attractiveness. The buyer's bargaining power describes customer pressure for proper products and reduced visitors numbers at the park indicate high buyer bargaining power which reduced the business attractiveness

Slide 16

The supplier's pressure to market stability describes the supplier's bargaining power. In this case, Elvaston Castle is the supplier thus reduced bargaining power. The decision to apply supplier options such as reducing the quality of services could decline visitor experience thus reduce visitor numbers. It is important for the park to boost services that promote attractiveness to cope with competitor rivalry.

Slide 17

The performance of a business is influenced by socio-cultural factors such as changes in target market moods and attitudes over time. The factors could include social education, beliefs, attitudes, political ideology, and legal structure. For example, changing consumer preferences could affect Elvaston Castle’s business performance negatively or positively.

Slide 18

Age demographic changes are likely to influence recreational consumer preferences at Elvaston Castle. While older people prefer outdoor recreational activities, the younger might instead prefer indoor activities. Maintaining Elvaston Castle’s performance necessitates the combination of different recreational activities favoring the age demographic differences evident in the target market and consider generational changes as well.

Slide 19

Demographic changes in age, gender, and religion could equally influence business performance. Elvaston Castle’s management should consider all applicable demographics in choosing entertainment activities. Consumer behavior factors such as environmental conservation culture influence organization position creating the need for focusing on sustainable development to avoid settling on wrong and costly decisions.

Slide 20

In conclusion, strategic planning is crucial to business success and competitiveness maintenance. Business strategy models that include PESTEL analysis, Swot analysis, Porter’s 5 forces evaluate the factors that could influence business performance. The developed solutions could help an organization cope with weaknesses and threats while leveraging the potential of the available opportunities.

References

• Derbyshire County Council. (2018). Revised Elvaston Castle Master Plan (Highways, Transport and Infrastructure). Retrieved 28 February 2020, from https://www.derbyshire.gov.uk/site-elements/documents/pdf/council/meetings-decisions/meetings/cabinet/20-12-2018-elvaston-castle-master-plan-part1.pdf
• Derbyshire County Council. (2020). Elvaston Castle Country Park. Retrieved 28 February 2020, from https://www.derbyshire.gov.uk/leisure/countryside/countryside-sites/country-parks-and-visitor-centres/elvaston/elvaston-castle-country-park.aspx
• Elvaston Castle Master Plan. (2020). Introduction – Elvaston Castle Master Plan 2019–2024. Retrieved 28 February 2020, from https://masterplan.futureelvaston.co.uk/introduction/
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