The Role of External Factors upon the Performance of Majaland Praha Amusement Park

The current world is full of challenges that individuals and firms face. This is why the role of the entertainment industry is very important as it provides activities that allow people to escape daily reality and enjoy themselves with their families and friends in a special atmosphere. Majaland Praha is the largest indoor amusment park in the Czech Republic. It is considered leader in the entertainment industry and provides entertaimnet for the whole family. The precise formulation of strategy that Majaland uses is very important as it allows the business to navigate through competitive pressure, adapt to market changes, ennhances customer experience and achieve long term sustainability. The primary aim of the thesis is to conduct a comprehensive analysis of the Majaland Amusement Park in Prague, identify the external factors that affect the footfall of the park, propose what goals to set in accordance with these factors, and finally, identify opportunities, as well as detect threats. Based on the findings from the Stakeholders, PESTEL, Porters Five Forces and SWOT analysis, the thesis will provide recommendations for the company's future development. The results of the strategic analysis show that some challenges that Majaland faces are the economic sensitivity, seasonal fluctuations and the large range of competiton from the entire broad entertainment industry. Majaland management must strive to create a unique visitors’ experience, be able to adapt to the dynamic economic changes, and also to diferenciate from its competitiors. Being able to follow this they will maximise company revenues and strangthen their position of leading entertainment provider of entertainment in the Czech Republic. The thesis provides a set of recommendations prepared based on the strategic analysis. Following these can further improve the performance of Majaland in the future.