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Structure of the Leisure and recreation industry.

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Introduction

STRUCTURE OF THE LEISURE AND RECREATION INDUSTRY In the leisure and recreation industry it offers a variety of facilities, products and services. An important feature of the industry is that it is split up into three distinct sectors. They are the private sector, public sector and the voluntary/not for profit sector. THE PRIVATE SECTOR The primary objective of private sector organisations is to make a profit. If they fail to make a profit they eventually go out of business. To make a profit they need to be producing goods and services at a cost that is less than that at which they sell them. They are also in competition with other leisure providers and need to maintain value for money and keep prices down in order to retain their market share. Private sectors can locate wherever they want. ...read more.

Middle

The benefits are that the owner/directors are not personally liable for any business debts or any damage caused by the firm unless it is there personal fault. All the staffs of the company are paid a set salary and cannot use company funds for any personal expenditure. Public limited companies: when a company becomes large and successful it needs to raise money to expand further. The easy way for them to do this is to go to the public. This is done by the company offering shares to the public, and then the income from the share is used to fund development. In order for a company to sell shares it has to become listed on the stock exchange. The company is now called a PLC. This also means that the share holders have some say on what happens and full control of the company is taken away from the board of directors. ...read more.

Conclusion

Manage certain services and resources that fall beyond local interest. VOLUNTERY SECTOR The voluntary sector is divided into two parts. In the first are the many activities that are run by volunteers - these are local voluntary organisations. In the second are charitable organisations that use volunteers but have a salaried administration. Local voluntary organisations: The British are renowned for their involvement in voluntary work for the public good. They are all amateur groups who organise most of the events. They are not paid for these events so save the sports council �0.65 billion. They do the events by raising money themselves. Charities and trusts: Charities are always seen as non-profit-making organisations that raised money for goods works, using volunteers. The objectives of a charity are often to provide resources and opportunities for people who would otherwise not have access to them. Where local authorities serve the common good, charities serve the special need. Charities can reduce staff costs by using volunteers, and can therefore support more easily than local authorities. Adam derrington ...read more.

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