Business Administration: Doc
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Added on 2020-10-22
Business Administration: Doc
Added on 2020-10-22
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Business administration
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Explain any budgetary or policy constraints relating to business travel or accommodation11.2 Describe financial arrangements relating to business travel or accommodation.............11.3 Explain how to make arrangements for visas and related foreign travel documentation.21.4 Describe the procedures for obtaining or exchanging foreign currency..........................2TASK 2............................................................................................................................................32.1 Identify different suppliers that are capable of delivering the services required withinbudget.....................................................................................................................................32.2 Recommend travel or accommodation arrangements that best meet the requirements...32.3 Recommend suppliers of travel or accommodation that best meet the requirements......4TASK 3............................................................................................................................................53.1 Confirm the requirements for travel or accommodation..................................................53.2 Agree arrangements that specify any limitations, prohibitions or responsibilities and whichmeet the requirements.............................................................................................................63.3 Prepare and issue itinerary/schedule documentation that reflect agreed arrangementsaccurately................................................................................................................................63.4 Obtain travel or accommodation documentation within the required timescale..............73.5 Confirm the acceptability of payments to be made within the limits of their own authority................................................................................................................................................73.6 Keep up-to-date records of travel or accommodation arrangements and agreedcommitments..........................................................................................................................83.7 Adhere to organisational policies and procedures, legal and ethical requirements whenmaking business travel or accommodation arrangements for others......................................8CONCLUSION ...............................................................................................................................8REFERENCES................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONBusiness administration refers to the process of controlling and monitoring theorganisational process and functions. It includes performance and management of operations,resources, employees and decision making for directing them towards the shared organisationalgoals and objectives. It assist the firms in determining whether they are achieving theirobjectives or not. By monitoring, Managers can gather important information regarding theworking and performance of the different organisational functions and operations. The takenorganisation in this report is Mercuryholidays which is a travel firm established in year 1980 atKent, UK. This report will provide the explanation of budgetary or policy constraints along withthe financial arrangements which are associated with travel businesses. Further, visa and foreignexchange currency procedures will also be discussed along with the identification of differentsuppliers. This report also provide the recommendations associated with travel arrangements andsuppliers that suitably meet the requirements. In the end, necessary arrangements andorganisational policies will be covered in this report.TASK 11.1 Explain any budgetary or policy constraints relating to business travel or accommodationBudgetary constraints are the barriers which occurs due to the insufficient funds of thefirm in executing the work and activities. Mercuryholidays is a travel and accommodationorganisation whose main problem is the less amount of money. This issue is arising as the firm isnot able to utilise the funds in a proper manner. Also due to the unplanned expenses thatsuddenly occur in the company, firm is facing issues in effectively dealing with the moneyproblems. This insufficiency of funds also impact the efficiency of the firm and the businessoperations are not able to execute properly (Steurer, 2012).Currently Mercuryholidays is developing and implementing plans for their customers inwhich the travelling packages are offered to the customers based on their needs and demands.Another barrier is of accommodation services. The accommodation services are provided basedon the income of customers. When the firm face problems in providing suitabel deal to them thenit impact the budget policy due to the changes required.1.2 Describe financial arrangements relating to business travel or accommodationFinancial arrangements needs to be made properly in an organisation for the travellingand accommodation of their customers. When travelling or any other reason, individuals and1
business needs prepare their financial arrangements for their comfortable stay and travelling.These financial arrangement are discussed below:The firm can use the credit card for the occurred expenses, The managers can provide theexpenses limit for the card to the holders.The firm can ask for receipts of expenses from the travellers for providing these occurredexpenses to the them.The firm can use the travel account for the purpose of business. The expenses are paidfrom this account and company again refills the account after paying for the expenses.The firm can also use its reserved money for utilising them in such situations forovercoming the situation effectively.1.3 Explain how to make arrangements for visas and related foreign travel documentationCompanies such as Mercuryholidays are very active in handling international customers,so they also needs to acquired visa for employees or customers of that specific country. The firmneeds to ensure that they have sufficient amount of resources such as funds and time. Anotherthing which is necessary is the arrangement of several other documents required for visa. Thedocuments and funds varies with the place to be travelled. After conforming the requireddocuments, organisation needs to go local embassy for arranging the documents. The majorrequirement is the passport and papers associated with ID proof, criminal record certificate etc.When these documents are issued by the embassy then firm can apply for Visa after collectingthe necessary documents (Skärvad, 2017). The Mercuryholidays needs to ensure that their workshould remain ethical and proper for getting the visa and other documents in an easy way.1.4 Describe the procedures for obtaining or exchanging foreign currencyWhen exchanging the foreign currency, organisations needs to adhere a systematicprocess for exchanging the money in a proper manner. The Mercuryholidays needs to followseveral steps of the process when exchanging the currency as discussed below:Analysis of exchange rates: The first thing Mercuryholidays needs to do in exchangingthe foreign currency is to analyse the current exchange rates of the currency which needsto be exchanged in order to take proper decision regarding the exchange. The firm needsto ensure that no broker is involved in the exchange process and if any broker is includedthen no fraud must takes place otherwise it can lead to loss of the firm.2
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