Travel and Tourism Organisations

Introduction

In this reports I will be learning about the types of commercial and non-commercial organisations within the travel and tourism industry. I will also be discovering how these organisations are funded and their prime business objectives. Finally I will be discovering how stake and shareholders expect their businesses to perform.

I will be completing this assignment in 3 tasks so I will be able to gain a general idea about all areas and cover the topic fully. My report begins with a bit of information on the public private and voluntary sectors of the travel and tourism industry.

TASK 1

The Private sector

This sector you will always find is privately owned directly or indirectly. These companies primary objectives are profit making only. Local examples like fitness first and UGC which are all privately run and make profit. There are 4 types of owner in the private sector and they are.

. Sole traders:- this is when a company or business is owned and run by one single person. This has the advantage of swift decision making and a lack of bureaucracy. However a sole trader is partially liable for the business when suffering financial trouble.
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2. Partnership:- this is when a group of between 2 and 20 co own a business and make group decisions in to its running. These types of partnerships are common especially in the accommodation sector of Travel and tourism. These types of business do not benefit form limited liability.

3. Private limited company:- This type of company is when a firm owner benefits from limited liability. The same owner however may not advertise his or hers shares or have any part in the stock exchange. There is a strong legal focus on these types of organisation. This ...

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