BTEC Business Unit 1 - In this report the two groups that I will be discussing and comparing are:- The Tussauds Group & The Metropolitan Police

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BETC Business                2005\06

 


I am at present an employee for Ace publishing Ltd.  My company has been writing various reports, books, leaflets and many more factual products for different consumer use for a number of years.  I have been assigned the task to compare the difference between two companies and write a report.  The use of this report will be for business studies students, so all the information will be justified and will be proven by evidence.

In this report the two groups that I will be discussing and comparing are:-

The Tussauds Group

&

The Metropolitan Police

What Is A Business?

Before we start this report we must understand and ask our selves what is a business?  Ok, so why do Tesco’s, Banks and Building Societies, market stalls all have the same aim and objective? Simple, because all of them have either a service or goods to offer their consumers and in return may or may not want revenue.  So a business is an organization or group who are out there to provide a service or product to consumers.

There are two different sectors to a business and they are the private sector and the public sector.  Business that are in the private sector are usually owned by shareholders and are aiming to make profit, whereas business that are in the public sector are owned by central government or local government and usually aim to provide a service.

I will start the report by introducing and discussing the aims and objectives, along with many other topics for The Tussauds Group and follow it on to The Metropolitan Police.

Introduction to The Tussauds Group

The Tussauds group is an international attraction, who encounter over 14millon customers a year. The Tussauds groups is a globally recognised tourist attraction venue and has venues In most busy city centers such as London, New York, Las Vegas, Amsterdam, Paris and many more.

The Tussauds group has published the following statement on the internet, “The Tussauds mission is to dazzle visitors with the most captivating city center attraction in the world and the most diverse and exciting portfolio of the theme parks in Europe.”  The Tussauds group has fulfilled what they have stated above by providing visitors with various venues.  The Tussauds group in the UK alone has a number of attractions such as Madam Tussauds, Alton Towers, Thorpe Park, Chessington World of Adventures, Warwick Castle and British Airways London Eye.  In Northern Germany they have acquired Heide Park, which is another exciting and thrilling theme park. Yet again another Madame Tussauds was opened at The Peak Tower in Hong Kong, Manhattan on 42nd street, New York, New Venetian Hotel in Las Vegas and Dam Square, Amsterdam.  If that was not enough, a Wax Museum was opened in Paris and finally, Port Aventura opens in Spain, again another exciting and mind blowing theme park.  

I will now look more specifically into the company and things which go on behind close doors.

Ownership

The latest expansion by the Tussauds Group comes six months after a change in ownership at the business. Dubai International Capital, a private equity firm backed by the Dubai government, paid £800m to take control. Mr Phillipson and seventy other managers of Tussauds came in for a combined windfall from the sale estimated at £30m.

The business is now part of a diversified group that includes a £1bn stake in car group, DaimlerChrysler. Madame Tussauds has been running in London since 1802 and been through a succession of owners with Charterhouse Capital taking charge of the expanded recreation empire in 1998.

Aims & Objectives

        

In order for the Tussauds group to survive in the business market they must always have aims and objectives which are being met and are realistic guide lines for the company.  I will mention in bullet points the main aims and objectives for the Tussauds Group.  The aims and objectives are as follows: -

  • To add a touch of magic and different experience to every visit

  • Keep customers safe while they enjoy various attractions within the Tussauds Group

  • To entertain customers to the maximum potential

  • To tackle all sorts of anti-social behavior away from all the attractions of the Tussauds Group

  •  To expand the business further

  • Create more exiting attractions and experiences

  • To attract more then 14million guests

  • To ensure customer satisfaction

The above points have been recorded from external sources of information, but seemed to me to be very factual and helpful.

Main Activities

The main activates of the Tussauds group are to create memorable visits to all guest by providing good customer service and a wide range of experiences.  They also would have to operate and maintain there attractions and theme parks and always be aware of any opposing competition.  As they are the market leaders in attraction and theme parks in Europe, they must always be strive to improve there services and venues, so that if there was to be any other competition on the way they will be knock down or should have no effect on the Tussauds group.  And finally how dose the Tussauds group attain there income and revenue?  This is done through different methods such as Admission, Merchandise for example souvenirs, Food & Drink and Transport.  

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Services Offered

The Tussauds group like any business out there offers a range of services. They offer:-

  • Entertainment
  • Educational visits
  • Hospitality
  • Safety & Security

But the question is how are they doing this?  Well, entertainment is being provided through there thrilling and exciting theme parks, as they have over 1.9millon guest attending a year, not forgetting the seasonal events which take place.  The educational visits would be done at the London Planetarium, as this venue is involved in the science fields.  Hospitality is met by the hotels, food and other services that ...

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