• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Business of travel and tourism task1

Extracts from this document...

Introduction

The Business of Travel and Tourism Task 1 Introduction The purpose of this task is to describe the features of two different types of business organisation within the tourism industry. The business must be one from the non-profit making sector (public) and the other from the profit making sector (private) I have chosen Hilton Hotels Corporation as my first business (P1) they provide accommodation for many different types of guests and provide many different facilities from internet connections to wheelchair access for their customers. They are a profit making international chain of hotel. For P2 I have chosen a non-profit making organisation which is apart of the public sector- The Northern Ireland Tourist Board Part 1 Type of organisation- A profit making organisation can otherwise be categorised as a commercial or an organisation which belongs to the private sector, the majority of businesses in the Travel and Tourism industry are apart of this commercial/private sector. Any private sector businesses' aim is to sell their products and services successfully in order to generate enough profit to firstly help their business grow and develop. Hilton is a profit making organisation, we know this as they operate like any other privately owned business. ...read more.

Middle

Providing these investors with a return is important to encourage further investment and therefore using company profits to re-pay shareholders is important on a regular basis. The people who have invested in Hilton over the years will have seen their shares grow as Hiltons' profit margins have grown successfully and steadily, the more profit Hilton makes then the shareholders get more retuned money. Retained profit- profits from a business can be used for their own personal use or can be used to put back into the business; this is often called ploughing back the profits. A retained profit is only available to a business which is already in existence, in the early stages of setting up a business it may be necessary to put a lot of the profits back into the business, this finance would normally be used to buy new equipment and more stock of products and services to hopefully make the business more efficient and profitable in the future. For example, Hilton opened its newest hotel- The Hilton Garden Inn University Heights in May 2007, in the Albany area of New York, it can accommodate up to 200 people depending on the needs of the group. ...read more.

Conclusion

Members- Within a private organisation, the members would be the owners or managers, however in a public sector organisation the members are those partners or other tourism businesses. Within the NITB there are a group of people known as the board of directors, they are listed below within the control section. The NITB is funded by several different government organisations including the DETI. Distribution of profits- Control- The group of people known as the board of directors are the main people in control of the NITB. The role of the directors in the public organisation is practically the same as their role would be in any private business, they are the main decision makers; they decide upon any thing which needs to be improved or if there are any issues to be discussed or weather or not to introduce anything new to make Northern Ireland more tourism friendly. The ten members of the board of directors in the NITB are: Tom McGrath- this is the chairman Irene Adair John Mooney Andrea Hayes Mandy Martin Lyn Fawcett John McGrillen Cllr Jim Speers Kevin Baird Aideen Corr. Sources of finance- Documentation needed to set up a business- ?? ?? ?? ?? The Business of Travel and Tourism Task One Sept' 08 Joanne Watson ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Structures, Objectives & External Influences section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Structures, Objectives & External Influences essays

  1. Marked by a teacher

    ASDA's Ownership

    4 star(s)

    and wealth * Personal expenditure ASDA is responding to them by, lowering prices, lowering the prices for children's sweets and chocolates, offering money saving schemes (e.g. ROLLBACK) and offering deals on shopping e.g. buy one get one free or buy one get one half price etc.

  2. The Business Environment Coursework. Describe the type of business, purpose and ownership of ...

    Employers are affected by how well the business does as this may mean a pay rise or more hours, in bad times their hours may be cut to save money. The owner's hope that the business makes enough money for them to be able to take some of the profits.

  1. Introduction to Business Assignment

    4.7 Working really closely with its sister department (the marketing department), the sales department will on a frequent basis supply essential information with close considerations to sales levels, activities of competitive firms and various requests from customers for improved or new products.

  2. For my portfolio, I was asked to do an assignment on two businesses. I ...

    life to customer so that instead of throwing away the bags they receive from shopping they can buy the bags for life and can reuse it over and over again instead of throwing it away. Tesco recycles their waste product without harming the environment Stakeholders The share holders in Tesco

  1. Vodafone Plc

    Therefore they are motivated at doing there job as they know what they have to do and what not to do by satisfying the customers they are trying to maximise sales and profits. They reasons why Vodafone keeps its customers satisfied is mainly because they want customers to come back

  2. Barclays Investigating a Business

    This is because they would not be able to pay back the money with the added interest. * House Prices in Specific Regions In London we can see that house prices are substantially higher than that of countries in less populated areas.

  1. Departments and their roles within a business.

    purchase orders, invoices, receipts, credit etc. The marketing department will also ask the administration department to type up the collected results from their market research. This way the results will be easily displayed and can show customers the results of their market research.

  2. Investigating Business. Tesco PLC. I will be describing the aims and objectives of ...

    means that they are making the most profits and making more money than their competitors, so if Tesco?s is making more money, then they can use the profits to re-invest back into the business and increase the growth of the company.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work