The study discusses the analysis of PESTLE and Diversification that is applicable for the two different chosen organizations in the Australian market. The study focuses on two different businesses that are belonging from two different industries that are having its base in Sydney. The industries that are chosen for the study is tourism under which, the chosen organization is Cosmos. The other industry is the media, under which the chosen business is Fairfax Media. The study will be discussing the various issues and the various supports that these two organizations can face while introducing their newly designed products in the market of Australia.
Discussion
The travel and tourism has been one such sector that has been prospering at a rate, which is exponential. Unlike the past times, it has to be noted that today, people are travelling on an ever increasing frequent rate, be it for the purpose of leisure, or business, or simply for the purpose of research. Cosmos has been one of those companies, which has brought in a revolution in the businesses conducted by the travel and tourism based organizations (Australia, 2018). Being credited with the introduction of the concept of packaged tours, it has to be stated that the firm has successfully ventured into the various sectors that are crucial for ensuring the prosperity and development of the said industry.
After venturing into different sectors, the company is looking forward to bring in its own chain of fine dining restaurants in the nation of UK. The company is particularly targeting the fertile market of Sydney, and is looking forward to provide a significant boost to its revenue streams with the aid of Service diversification. In the following section, a PESTLE analysis has been conduct to assess and decipher the feasibility of the proposed business.
In order to conduct their new business of fine dining in a proper manner, Cosmos needs to be well aware of the economic scenario of UK overall. Since the overall GDP of the nation is healthy and the per-capita income of the individuals portrays healthy figures, it can be stated that the scope of development is high. Next up, the social factors come into play. The scope of fine dinging shall be readily accepted by the citizens of the area, since the acceptance of culture is particularly high.
UK is one such country that has extensively implemented the usage of technology in personal as well as business context. Hence, it can be said that the inhabitants shall have no problems to acknowledge new technology. Under the environmental factors, the company has to ensure that they implement proper water and waste management techniques to run the new business in an efficient manner. Lastly, it has to be ensured by the decision makers and authorities of Cosmos that they are complying with the legal framework and are complying with Acts such as Food Standards Code and othersA
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