Political - Legal Factors
The Riverlife operates in Australia and the political-legal factors of the country are likely to have a strong impact on the operations of the business. The business laws of Australia are developed to look after the rights of customers and to increase competition and trade in the market. Australian business laws also stress organizations to engage in ethical and legal practices to ensure that there is a positive and increased competition in the market (Prasad & Tata, 2003). The country also supports the practice of consumer laws whereby such laws protect the rights of the customers and provide them with safe products and services. Also, product liability regulations are designed for developing standards for the products. Such rules and regulation may have a positive impact on the operations of Riverlife. For instance, the rules could help Riverlife to compete well in the market and to provide the customers with safe environment for enjoying risk-free entertainment.
Economic Factors
As far as the economic factors are concerned, the country has a strong economy and is also considered an attractive place for both tourists and investors. In addition, there is a string competition in the foreign market with a good tariff rate in the country. Australia has introduced low barriers for the new businesses and high levels of investments are valued (Taylor, Pezzullo, & Keeffe, 2006). Therefore, the economic factors may also have a strong and positive influence on the business operations of Riverlife allowing it to work with good organization and success in the market.
Socio-Cultural Factors
Australia has a large diversity of people based on the cultural, social, and religious factors. The diversity of groups has made the economic conditions stronger in the country. Also, the people of the country are very outgoing and lively. They prefer to visit places where they can enjoy peaceful yet adventurous time with their families (Bouma, 2015). Both Australians and foreign tourists like Riverlife because of the services it offers.
Technological Factors
The increase in buying power of customers also makes them technologically advanced. These customers prefer hog technologies wherever they go. For that reason, the Riverlife is successfully integrating technological concepts and provides its customers with an option of online reservations. Customers can get information about the deals and services from the website of Riverlife. It is also possible for them to get in touch through the social media platforms.
Natural Factors
The natural factors are also of great meaning for the Riverlife because the customers visit the place because of its beautiful location and view. This factor can create a strong customer base by attracting a large number of customers.
SWOT Matrix
The SWOT matrix is a combination of strengths, weaknesses, opportunities, and threats. In case of Riverlife, SWOT matrix makes it possible for it to identify the points for competitive positioning. Also, Riverlife can improve its operations in view of that. In this manner, Riverlife can make right changes in its products and services.
Strengths
• The Riverlife is situated in Brisbane. This is a major advantage of the resort because the city is famous for providing high quality of life and a unique experience to the customers.
• It does not provide the services to a limited extent. Instead, Riverlife offers a wide range of diverse services such as arrangement of cultural festivals, team building, adventure bookings, weddings, and different functions suiting the needs of the customers.
• Also, the presence of Riverlife on social media platforms allows more interaction with the customers and helps the management to get direct feedback.
• The option of online booking and reservation is a great ease for customers.
• The Brisbane city has a grand airport which makes it easy for the tourists to reach the place.
• It offers an excellent view and a calm environment which is surely a strong attractive point for the customers.
Weaknesses
• The issue of public transport in the Brisbane city may create barriers for attracting a large number of customers and to assist them.
• The high prices at Riverlife are considered a negative factor for some customers.
• There is a lack of capital expenditure in the city promoting less competition. This may not be a healthy point for the success of Riverlife.
• Also, it is difficult to access raw material as there are less farm produces in the city.
Opportunities
• The tourism industry is going through a growth phase and it will help Riverlife to attract more customers receiving a large market share.
• The disposable income of the customers is increasing. Similarly, the economic position of the country is strong which directly influences the customer’s buying behavior. As a matter of fact, customers with higher incomes prefer to spend it on such luxurious trips.
• Brisbane is a great attraction for the customers because of its strong infrastructure.
• Riverlife is bringing more and more innovations in its products and services and it will provide greater opportunities to obtain a sustainable competitive advantage.
Threats
• The change in political and legal factors can affect the performance of the Riverlife with the obligation of further restrictions.
• The low tariff policy will encourage a large number of competitors to enter the market.
• The increasing number of competitors can capture the market share and affect the success of Riverlife.
References
Bouma, G. D. (2015). The role of demographic and socio-cultural factors in Australia’s successful multicultural society: How Australia is not Europe. Journal of Sociology.
Prasad, S., & Tata, J. (2003). The role of socio-cultural, political-legal, economic, and educational dimensions in quality management. International Journal of Operations & Production Management, 23(5), 487-521.
Taylor, H., Pezzullo, M., & Keeffe, J. (2006). The economic impact and cost of visual impairment in Australia. British Journal of Ophthalmology, 90(3), 272-275.
