The tourism is gaining pace in the modern era. The love for vacation and the love for spending money on the refreshment area have demanded the better support of the tourism industry to bring more innovative support. Proper management of the resources and the better understanding of the financial needs of the organisation mark the smooth operation. In the following assignment the environmental conditions and its impact is described well. The different structures of business organisation are discussed descriptively. Tourism and its option in satisfying the needs of the customer are observed here in the assignment.
Description of the travel and tourism business environment along with the the examples of the organisation (P1)
The tourism sector has gained ample space in the development of the organisation. In recent days it is seen that there have been great development on the smooth operation of the business. It is noticeable that the rise in the tourism organisations has provided a lot to the economic development to the organisation. As supported by Abou-Shouk et al. (2016, p.320), the availability of the funds can be better understood with the proper aspect of the organisation in the society. There are problems and issues in the organisation, succeeding the issues in the organisation, marks the success of the organisation at a long term basis.
The consequences and the effect of the environment related to the organisational development can be carefully described with the helps of the PESTLE analysis. As suggested by Ali et al. (2016, p.220), PESTLE analysis helps in the better understanding of the external constraints of the business development. Every single factor of the business environment marks the smooth or th rough running of the organisation. The development of the organisation and the smooth operation of the environment depends upon the proper execution of the plan to mitigate the problem of the PESTLE factors and bring to the use of proper development of the organisation.
Public Sector and Private sector The sector under the direct control of the government or the undertaking of the government is called the public sector. On the other hand the control power remaining in one body apart from any government is called the private sector. The environmental factor marks the every organisation without the discrimination of the sectors. According to Becker (2016, p.51), the PESTLE analysis of the public sector and the Private sector would certainly help in the understanding of the factors of the changes. In this case the public sector company indicates the Visitbritain tourism organisation.
P Political: The political factors determine the political changes in the surrounding of the organisation. The changes in the power of the ruling party of the changes in the policies in the society. In the words of Char-lee et al. (2016), the changes in the power and the policies mark the rise in the chances of the changes in the sole policy of the public sector organisation. The recent change in the prime minister along with the change in the policy have marked the urge to change the policy of the tourism organisation
E Economical: The change in the recent price rate and the change of the denomination have marked a great deal to the tourism organisation. The smooth operation of the tourism organisation has been hindered. The policy and the selling procedures of the organisation have also been affected by the change in the economical factors.
S Social: The social factor marks the demographic and the state and the preference the society. The change in the taste and the preference of the society marks the rise and the fall of the sale of the services of the tour and travel organisation. As per the observations of Chiang et al. (2016, p.575), the growing population and the rising need of vacation in UK have marked the urgent need of making proper procedure to tackle in the success in the grip.
T Technological: The rise in the technological effect and the fast innovation along with equally fast obsolescence of the technology, there has been changed in the policies among the tourism industries. The tourism industries in UK however have managed to maintain the pace of the ever changing technological growth.
L Legal: The legal factor marks the changed the marketing policies. The implementation of the ICT’s has marked the need of the proper security in the avouching of the vacation to the tourist. In the opinions of Holden (2016, p.78), the change in the policies have managed to make the organisation to understand the importance of security and privacy.
E Environmental: The considering effect of the CFC’s in the atmosphere have marked the rise in the awareness of the organisation to make a kind effort on the minimising of the effect on the rise in the temperature. The organisation has managed to implement changes in the policies to make the effect less.
Description of the organisational and financial characteristics of the different types of travel and tourism organisations (P2)
The tourism organisation comprised of the private public and other organisation with different form of management. The difference of the management marks the difference in the management of the organisation. The financial consideration in the organisation of the UK is different at the stages of initiation. The financial consideration of the companies in UK makes the prime difference in the operation of the companies. Rise in the organisation and the operation of the organisation in supporting of the refreshment needs of the customers marks the actual achievement
Companies: Company is a legal entity from the constituting member. As per the suggestions of Hyder and Bigné (2016, p.312), the separate entity concept works perfectly in the companies. Similarly, the companies in tourism sector are marked with the separate entity concept. The company have limited liability and provide much support to the members of the organisation. Company provide with extra benefits and vacation pricing which motivates the workers of the organisation
Partnership: A partnership organisation is an organisation which is formed with the pool of money, skills and other resources to share profit and loss according to the memorandum. In the words of Lin (2016, p.130), the absence of the organisational report and evidence of the memorandum makes the relation of the partners in the organisation.
Government companies: Government companies are the companies incorporated under the Companies Act companies 1985 or 2006. Government companies in UK are partly government undertaking and fully undertaken government company. The companies provide with dividend and other benefits to the shareholders.
Methods and opportunities used by travel and tourism organisations to gain competitive advantages (P3)
The improvement in the organisation depends upon the proper management of the resources and the proper management of the risk. There is risk and opportunities in and around organisational environment. The achievement of the organisational goal and the reaching of the objective seems to be the most important motto. As supported by Marques and Santos (2016, p.15), the opportunities and threats related to each other and needs to be managed properly to deliver the best of the organisational success. Below is the example of travel organisations achieving their objective with the help of the strategy and management of the risk in the organisation.
This is a privately owned company in UK. Rise in the company is mainly due to the systematic procedures of maintaining the funds and the strategy. Virgin is owned by Richard Brosnan. the prime objective of virgin is to make maximum profit out of the proper budgeted scheme in the market. the reputation of Virgin among the society is quite high. They follow sustainable form of business and manages the resources well enough. Flights, hotel booking, vacation planning are some of the services provided by Virgin. According to Mendola and Volo (2017, p.542), the achievement of an organisational goal can be easier only with the proper following of the sustainability. CSR of Virgin is also remarkable, due to the often charities in the society. the demand for the company service is high among the society, because of the variety range of service provided by them. The company provide with timely dividend and equity to its shareholders, which helps in the maintaining of the shareholders trust. In addition to the above benefits, the Virgin promotes new service and benefits timely. This providing of services and new products helps the company to retain its popularity from the competition provided by the rival companies. The company also provide with smooth training to its staff, updating them about the new products, and preferences of the customer.
This is one of the most renowned tourism organisations in UK with much supported stakeholders in the society in UK. Opportunities and success flows in this organisation with the better management of the resources and financial support. As supported by Mihalič et al. (2016, p.14), the rise in the reputation of the organisation is marked by the better management of the satisfaction of the customers of the society. The achievement of the Caribbean Tourism Organisation is based on the better supporting of the needs of the customer with `promoting new products and vacation tours. The organisation provide with an excellent customer care support. As suggested by Unger et al. (2016, p.150), the proper support care to the customer marks the proper rising to the reputation. The organisation provides with proper innovative pricing policies which satisfies the interest of the customer in the society of UK. The organisation managers the need of the customer by the innovative
Business case for travel and tourism enterprise with financial constraints (P4)
In order to get enlightened more about Caribbean Tourism Organisation, a business case is being produced which contains objectives of their business organisation in order to flourish more across the world. The objectives that are projected in the organisation during the fundraising event few years back include making profits from huge investments and accumulate savings to meet debts and loans of the company. For stretching ahead the wings of the business, Caribbean Tourism Organisation pursue few predominant goals and objectives which include full coverage of costs, planning and scheduling activities, creating financial plans as well as strengthening its financial base in the market. Among the various marketing strategies formulated in the organisation, the most salient ones include pricing strategies, promotional agendas, mock-ups and action plan.
During the event, the company made deep forecast on cash inflows and cash outflows. Generally, in the words of Mihalič et al. (2016, p.13), cash inflows of the company included the value of start-up capital and sales. The expenditures otr the cash outflows included purchase of raw materials, outstanding payments, repayments of loans, overhead expenses and purchase of fixed assets. The company kept a record on net cash flows as well to deal with the forecasted budgetary expenditures to take place during the planned event.
The business case of fundraising event had been realistic since it had fetched great profit and met all the targeted objectives. Caribbean Tourism Organisation had set productive competitive advantage preparations and policies to deal with market competitiveness. It ultimately resulted in raising funds or money for the charitable purpose. Besides, the financial constraints faced by the organisation included loan, public funding as well as inheritance (Wu et al. 2016, p.175).
The study reveals about the market of the tourism industry to which it belongs and enlightens about the characteristic features of any organisation. The PESTLE analysis above has described the factors related to the environment and its impact over the operation of the public and private sector companies in UK. The Tourism companies in UK face problems and issues in terms of the taste and the preferences of the customers but with suitable management in the organisation, they perform well in the satisfaction of the customers. The study have also revealed that the financial constraints are inevitable in the organization but the proper management those define the ultimate company.