Financial Decision-Making for Travel and Tourism PDF

Added on - 15 Apr 2020

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Running head: FINANCIAL DECISION-MAKING FOR TRAVEL AND TOURISMFinancial Decision-Making for Travel and TourismName of the Student:Name of the University:Author’s Note:Course ID:
1FINANCIAL DECISION-MAKING FOR TRAVEL AND TOURISMExecutive Summary:The current report aims to deal with choosing an organisation in the travel and tourismindustry of UK. Therefore, for fitting the purpose of this assignment, Titan Travel has beenselected as the organisation, since it is one of the leading escorted tour operators in UK. It isoperating for more than 30 years and it has offered inspirational escorted tours across variousglobal nations. For expanding its business operations in Japan, Titan Travel needs to consider avariety of factors in relation to the methods used for raising funds. However, it needs to exerciseadequate care for dealing with nuances in Asia in terms of labour, new facilities and suppliers.The various cost behaviours have been described in the report, in which it has been foundthat for this specific expansion plan, fixed costs and variable costs would be incurred, while themixed costs would not be taken into consideration. Finally, it is recommended to the organisationto adopt penetration-pricing strategy in the Japanese market for increasing its revenue base tocope up with the existing and upcoming competition.
2FINANCIAL DECISION-MAKING FOR TRAVEL AND TOURISMTable of ContentsIntroduction:....................................................................................................................................3Discussion and recommendation of relevant sources of finance in context of the expansion plan:3Explanation of the behaviour of costs and importance of cost-volume-profit (CVP) analysis as adecision-making tool:......................................................................................................................6Discussion and recommendation of appropriate pricing strategies:..............................................10Conclusion:....................................................................................................................................11References:....................................................................................................................................13
3FINANCIAL DECISION-MAKING FOR TRAVEL AND TOURISMIntroduction:The current report aims to deal with choosing an organisation in the travel and tourismindustry of UK. Therefore, for fitting the purpose of this assignment, Titan Travel has beenselected as the organisation, since it is one of the leading escorted tour operators in UK. It isoperating for more than 30 years and it has offered inspirational escorted tours across variousglobal nations. The customers could select from a range of options with above 300 individualitineraries constituting of rail, coach, air and river or ocean cruising elements (Titantravel.co.uk2017).The company is planning to expand its business operations in the market of Asia,especially Japan for accomplishing efficiency and competitive advantage in the global market.The report would highlight the various sources of funding that Titan Travel could seekfor expanding its business operations in Japan. The second section would focus on explaining thecost behaviour and significance of cost-volume-profit analysis for making useful decisions. Thefinal section of the report would shed light on recommending suitable pricing strategies in thecontext of the expansion plan for Titan Travel.Discussion and recommendation of relevant sources of finance in context of the expansionplan:For expanding its business operations in Japan, Titan Travel needs to consider a varietyof factors in relation to the methods used for raising funds. However, it needs to exerciseadequate care for dealing with nuances in Asia in terms of labour, new facilities and suppliers(Becker 2016). The following are the major sources of funding available to Titan Travel for itsproposed expansion plan:Retained earnings:
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