Contemporary Trends in the Global Business Environment Coursework

Contemporary Trends in the Global Business Environment - Coursework Example The researcher states that Qantas Company seeks to analyze its environment for a sustainable future in the highly competitive market. Indeed, various trends have characterized the market and it is important for a clear analysis to be made so that the business can evaluate its continued viability. To this end, the company seeks to introduce new flights to Tehran, Iran, which it hopes that the idea will put the company in a better position to beat its competitors like the Fly Emirates that have strongholds in the Middle East. This report assesses the business in terms of the goals it will aim at achieving in the future. Businesses analyze their environments and plan in many ways. Indeed, most of these trends have evolved from the 1950’s to their present form. From a background where planning was considered in the rubric of budget concerns, modern organizations largely embrace scenario-based planning which takes into account the future of the company. Qantas in this perspective u ses a variety of strategies in its environmental analysis. Recent studies into the external environment of the business reveal that it contains three components, including the market, industry and the expansive macro environment. As an important aspect of the external environment, the market defines the clients of the business who make it possible for it to conduct its operations. The market for any business is different from others and specific to the industry. The industry, on the other hand, incorporates all the businesses that are involved in the airline venture. Industries have trends such as the legal requirements for safety, purchases of new planes in the market as well as the increasing need to expand the number of destinations that the company operates. The macro environment, on the other hand, focuses on certain aspects such as political, social or technological issues that affect the business’s operations.