Travel Reference
In-Depth Information
UNIT SUMMARY
In this unit you have examined the different types of public and private sector organisations operating in the
travel and tourism environment, from large internati
o
nal fi rms to small businesses. You have also considered
the organisational and fi nancial characteristics of different types of travel and tourism organisations, such
as business structure, fi nancial accountability and sour
ce
s of fi nance. You have investigated how travel and
tourism organisations seek to gain competitive advantage by, for example, adding value to their businesses,
training staff and introducing Total Quality Management. Y
o
u have also considered the various stages that
are needed to complete a plan for a travel and tourism pr
o
ject, prior to producing a business case for a
travel and tourism enterprise as part of the assessment for
t
h
e unit. Throughout the unit you have been
given business examples from the travel and tourism sector. The case studies on Longleat and Capital
Region Tourism have given you an insight into the operation
o
f two organisations with different business
structures.
If you have worked methodically, by the end of this unit you should:
•
Know the different types of organisations operating in the travel an
d
tourism business environment;
•
Know the characteristics of different types of travel and tourism organis
a
tions;
•
Understand how travel and tourism organisations gain competitive adva
n
tage to achieve business aims;
•
Be able to produce a business case for a travel and tourism enterprise within fi nancial constraints.
You are now in a position to complete the assignment for this unit, under the direction of your tutor. Before
you tackle the assignment you may like to have a go at the following questions to help build your knowledge
on the business of travel and tourism.
TEST YOUR KNOWLEDGE
1.
What is meant by a 'public sector travel and touri
s
m organisation'?
2.
Explain the difference between a private limited com
pa
ny and a public limited company (plc).
3.
What is a public-private partnership?
4.
What is the role of HM Revenue and Customs?
5.
What are the advantages of operating as a partnership rather t
h
an a sole proprietor?
6.
What is 'limited liability'?
7.
How does a merger differ from a takeover?
8.
What is a dividend?
9.
What is the role of the Board of Directors in a company?
10.
What is a Certifi cate of Incorporation?
11.
What is the purpose of a Memorandum of Association?
