Corporate Strategy

Corporate strategy

Corporate strategy

Introduction to the two Industries

Tourism Industry

The economy of any country is dependent on a number of industries present and operating within a country, with tourism and environment holding special position as means of attaining foreign exchange. Thus, it can be said that tourism has an important part in the designing and planning of the overall economic policy of the country. It should also be noted that specific claims regarding progress in tourism generally leads to an increase in respect of the industry among the business community. This is so because the economy of any country is linked to the success in attaining maximum possible retunes from the natural resources present in the area, which includes the tourism sites as well (European Union, 2001, pp. 3-10).

Tourism does not only assist in converting local goods and services to export goods but at the same time, it also plays its part in boosting the economy of the area by providing additional income to the concerned citizens. Thus, special steps have to be taken to ensure that the tourists are properly treated and facilitated, which is generally done without considering the resulting environmental damages (European Union, 2001, pp. 3-10).

Banking Industry

Banking industry of any country is lifeblood of the economy. The banking sector not only contributes as an individual sector, but to provides enormous support to many other business sectors, of the economy. The fact that the economy of the country is run on banking sector requires it thoroughly analyze it, to improve the working of economy (Business Insights, n.d, 5-8).

During past few years the economic and financial crises, faced by United Kingdom, and its bank, along with other countries of the world, have drastic impacts. The country has been faced with substantial uncertainty due to high level of fluctuation in economic forces. The government of united state is expecting to exercise relatively strong position among other European countries (Business Insights, n.d, 5-8).

The banking sector of UK has some unique and special attributes. It is unique in terms of size, breadth and diversity. The country is serving as home to large domestic as well as large international banking industry. The domestic market is served by lending corporate and personal lending, while international markets are supported by enabling them in functioning of global capital market. Along with the functioning of global capital market, the sector also provide management services and support by making heavy investments. The strong banking sector thrives not only on domestic investments and lending but also in capturing UK's outsize share of the global financial industry. There has been a political debate on the dependency of UK economy on the banking industry, and to emphasize on the expansion of manufacturing and service industry. The critical situation underlying the fact that, these sectors cannot grow without access to capital and financial support in growing overseas economies (Business Insights, n.d, 5-8).

Identification and discussion of SWOT, PESTEL and Five Forces Analysis

The economy of the country depends on the successful working ...