Hospitality, Tourism and Events Environment

This document explores the dynamic and rapidly changing environment of hospitality, tourism, and events. It focuses on the organizational profile, objectives, consumer trends, sustainability, financial operations, governance, and key stakeholders of Science Museum Group.

Hospitality, Tourism and
Events Environment

EXECUTIVE SUMMARY
Hospitality is the dynamic and rapid changing environment that leads to incorporate
various factors by focusing on the academic study considered the hotel, lodging, food and
beverages with suitable professional experience. In regard of this, conferences and events both
are the biggest part of hotel in terms of increasing their sales and revenues which is useful for the
overall tourism sector. For this, the report tends to cover various factors considering the structure
and profile of company, effective customer trends, objectives, corporate governance,
sustainability, current trends, stakeholders and financial operations which are discussed in
relation with Science Museum Group.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Organisational Profile.............................................................................................................1
Objectives...............................................................................................................................2
Consumer trends.....................................................................................................................3
Sustainability..........................................................................................................................4
Financial operations................................................................................................................6
Governance.............................................................................................................................6
Key stakeholders....................................................................................................................7
Current issues.........................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Events and conferences are the huge part of hospitality sector that leads to grow
continuously. They also tends to put emphasis on the sport, music, events, effective learning and
so on in terms of generating suitable revenues that leads to change the way of doing business. It
also tends to undertake practical skills and effective knowledge which is useful for the career
development and event management industry (Armstrong and et. al., 2019). To carry forward
this report, Science Museum Group is considered which is the collection of British Museums and
the chairman of this group is Dame Mary Archer who was appointed by the Prime Minister.
Along with this, the following report is based on considering the profile of company, identifies
the prominent objectives and consumer trends, sustainability performance. It also tends to
describe that how it operates financially and governed by identifying the key stakeholders
undertaking existing issues that leads to impact stakeholders.
MAIN BODY
Organisational Profile
Science Museum group is the well known British Museum which is the collection of
various Museums and has the origin in South Kensington that tends to conduct after the huge
exhibition of 1851. This museum was founded in 1909 by the Martin Earwicker and the board of
trustees of SMG was developed under the National Heritage Act with the objective of General
Management of group. It was developed as the outcome of transferring the British Transport
Commission regarding the collection of Trustees of Science Museum. SMG was run by HM
government and also developed and then opted for the whole company.
Along with this, Science and industry Museum developed in Northern Western Museum
of Science in 1969 and also registered as the charity group in 1987. Along with this, it is the
corporate body which is developed under National Heritage Act 1983. It also tends to follow the
prominent organisational structure in which the overall government of country tends to manage
several departments of company until 1984 (Science Museum Group, 2019). Furthermore, it also
has NDPB (Non-departmental Public Body) that tends to operate from the public sector and also
prominently supported and guided by the department of digital media, culture, sport and so on.
 What type of organisational structure does it have?
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It is a wholly owned subsidiary trading company that has complex structure which is the
corporate body and the board of trustees.
 How many museums are in the group?
There are six museums in the Science Museum Group.
 Where are they located?
These are located in London, Manchester, York, County Durham, Bradford and Wiltshire.
 What exhibitions does it have?
The SMG share unparalleled collection, spanning science, technology, engineering, medicine
and mathematics.
 How many visitors does it get?
Approximately five million visitors.
Objectives
Science Museum Group is the biggest Museum group in the business environment as this
group tends to recognise the prominent opportunities in terms of fulfilling the significant goals
and objectives. For this, the vision of company is to develop effective and reliable society that
prominently celebrate technology and science and also majorly influence the living standard of
individuals and their future (Agyeman, 2019). Along with this, they tends to work in terms of
achieving their mission for motivating the investors, scientists, engineers and so on for using the
scientifically literate society which is useful for transporting and effective media in terms of
growing the capital for science.
For this, the prominent strategic objectives for the Science Museum Group is to develop
the science capital for each and every individuals and society for company that tends to sustain
and develop world class collections. Furthermore, the prominent objective is to broaden the
global reach, improve income for public for public in science, engineering and so on in terms of
transforming for estate by expecting the prominent changes for efficient and effective manner.
For this, the prominent objectives is shown for the annual report of company that tends to
represent the various visitors in terms of booking the education group which is around 603000 in
2018-19 which is quite effective as its target booking is 605000.
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Consumer trends
Customer trends depicts the prominent study which is useful for business in terms of
examining the existing behaviour and overall habits of customers that is related with the
prominent products and services that are offered by the company to its potential customers.
Trends are undertaken as quite effective for company in terms of gaining effective profits to
sustain their position for the longer period of time. Science Museum Group tends to consider
prominent trends in terms of attracting their customers which is mentioned as underneath:
Social Media: In present times, Museums are quite busy in terms of connecting with
various platforms and for this, they need to be significant for actively become online to make
sure the effective engagement for the internet generation. In regard of this, Museums also reach
out towards the maximum number of people by unique exhibits, advanced technologies and other
social media accounts (Braun, 2019). In terms of Science Museum Group, Instagram tends to
prominently impact the tourism industry by becoming the attraction point. Moreover, theme parts
and visitors also tends to become the prominent attraction regarding the no exception considering
the attempt for the snap and considering the perfect moment.
Augmented Reality: It is undertaken as the best trend considering the digital time which
is useful in attracting the huge part of customers. It tends to develop the virtual part for the real
world that tends to undertake prominent videos, graphics, sounds and so on. In terms of Science
Museum Group they tends to opt prominent technology considering the visitors in terms of
viewing for the effective art for huge depth undertaking their own electronic items which are
mobile phones, computers and so on by which they can prominently scan and identify the
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effective experience prominently. For this, company tends to develop and build effective artwork
for the company considering the visitors in terms of effective experience.
Themed hotels: It is important for every company in terms of getting effective
investment by more and more individuals to stay in market for the longer period of time. In
regard of themed hotel, it is undertaken as one of the best trend which is useful in developing the
prominent growth and success of company to sustain in market for the longer period of time. In
terms of Science Museum Group, they tends to develop theme hotel for their Museum which is
very close to the water park and also become the eye catchy point for the visitors and they also
enjoy to stay at hotel (Blooploop, 2020). Along with this, it is useful in terms of developing the
reputation and image of company that leads to attract customers towards the Science and digital
technology considering the major objectives of company. Along with this, national museum is
developed in New Orleans under the name of “The Higgins hotel and conference centre” which
is useful in terms of motivating more individuals towards the national museums.
Festivals and events: It is undertaken as the best source considering the consumer trends
which is useful by the Science Museum Group as they are organised by the events considering
the reputed venue of the Great Manchester in terms of involving the 900 STEM professed. For
this, events are organised with the name of “Electricity: the spark of life”. It is also useful for the
long time success of an organisation and also tends to attract huge customer base towards the
museum.
Autonomous things: It depict the physical devices that consider the prominent
technologies like artificial intelligence that plays an important role considering the functioning
and performance of human beings (Wetherley and Otter, 2018). For this, Science Museum Group
tends to hire robot employees who prominently help visitors and also involve them for the longer
period of time. It is also helpful in terms of attracting large customer base undertaking the culture
in terms of sustaining in marketplace for the longer period of time.
Sustainability
Science Museum Group is undertaken as the biggest museum undertaking the prominent
collection of unique items in the world. It tends to provide the best opportunity to the number of
individuals regarding the learning, researching, representing of the digital science prominently.
For this, they tends to undertake around 7.3 million commodities that prominently undertake
effective photographs and archives. For this, company is working prominently in terms of
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offering effective sustainability by conducting significant enhancement in the services
considering the customers to address the various areas of historic investment collections
including preservation, digitalisation and acquisition (Cusuem, 2020). In regard of this, it also
tends to put emphasis on the several terms for the longer sustainability that are mentioned as
underneath:
Enhance the scope and pace for the collection, digitalisation and exhibitions: It is
considered as the primary factor for the Science Museum Group in terms of prominent
improvement in terms of effective sustainability. For this, it also tends to undertake effective
collection for the digitalisation which is useful in developing effective blocks for better
achievements and interpretation. In regard of this, they tends to work for effective progress for
the project by acquiring the effective image of 6000 objects for the online collection as it tends to
achieve the effective sustainability in the market area.
Increasing the research related for the prominent culture and strategy: It is undertaken
as the effective source for enhancement for the sustainability by the Science Museum Group. It
also tends to prominently put emphasis on the significant opportunities which is useful in
completing the international expedition. It is also useful in terms of motivation the prominent
visitors towards an organisation (Demirag, 2018). In relation with Science Museum Group, they
tends to collect best materials in world and also tends to make visual record for it with the help
of effective technology. It prominently influence the medicine, media and transport and also
helpful for Science Museum Group to enhance the insubstantiality in world.
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Financial operations
For every organisation, financial resources plays an important role as without it no
business concern tends to operate and run effectively. In terms of Science Museum Group, the
prominent financial statement tends to undertake the effective statement of financial activities
that leads to undertake the accounting policies (Gregory, 2019). Respective company is
prominently operate in terms of considering the view for developing the world towards the
digitalisation. In terms of this, it also tends to collect things from the several sources such as
donations, trading activities, charitable activities and so on. Along with this, it also tends to
develop effective balance sheet and cash statement considering the cash equivalents which is
approximately 25,215 in 2019.
Governance
Science Museum Group is considered as the public body that tends to become the
effective responsibility regarding the presence for the organisational records that leads to include
the effective collection of records for effective sustainability, transportation and so on. Company
is undertaken the complete compliance for the corporate governance in which Trustees plays
various roles considering the various acts that are useful in developing regarding the effective
maintenance of corporate governance (Ledgerwood, 2017). In terms of Science Museum Group,
corporate governance undertake the effective code of practice of 2017.
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For this, the board members work supportingly in terms of managing the overall
committee. In regard of this, board tends to evaluate the continuous view for the senior staff
members in terms of prominent improvement of procedure for several activities. They also tends
to adhere the effective corporate governance in terms of responding towards the freedom of
information activities and data protection act in terms of generating income activities that leads
to develop its benefits for the future expansion for the global market.
Key stakeholders
Stakeholders tends to undertake those individuals of an organisation who tends to
impacted by the effective result of project. They also have major interest regarding the success
and growth of project. They also have the prominently influence on the project including positive
and negative. Stakeholders also has major impact on the sustainability and profitability as there
are several kinds of stakeholders who impact the functioning of company. For this, few
stakeholders are mentioned as underneath: Primary stakeholders: These stakeholders are the individuals who are prominently
related with company in terms of having high impact on the significant operational
process. For this, the primary stakeholders of the Science Museum Group are considered
as the board of directors, staff, volunteers, trustees and many more. For this, the chairman
of Board of trustees of SMG is Dame Mary Archer who is appointed by the PM David
Cameron. Secondary Stakeholders: These stakeholders are the individuals which are indirectly
related with company and also has less impact on the operational process. For this, the
secondary stakeholders of Group are the government and local communities that are
concerned with Museum. For this, commonwealth head of Government meeting Blythe
Horse, which is also associated with the group of stakeholders. Government: Considering this position, stakeholders get the effective position regarding
the effective operation of the business enterprise. For this, they also tends to stake for the
GDP and taxes in terms of gathering funds for company (Long and Ibar, 2017). In terms
of Science Museum Group, it tends to play an important role as they prominently control
and hold all the significant activities that are being conducted for the company. They also
tends to make world better in terms of valuing things for the prominent technology and
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science that leads to support for effective contribution and also tends to manage and
control effective functioning.
Director Ian Blatchford
Chairman Dame Mary Archer
 Visitors: It is undertaken as the important stakeholder for company as their stake is for
the products and services as because of this, company tends to achieve higher
profitability and revenues. They also tends to undertake effective profit margin as the
actual stakeholder in terms of influencing the quality of concerning products and services
for their value. Trustees: These stakeholders tend to undertake and administer the prominent property
and assets for the goodness of other party. For this, they also hired by the organisation for
effective charity, trust and funds (Mallin, 2016). In terms of Science Museum Group,
these stakeholders tends to do effective charity and also allocate funds by considering the
prominent benefits for the people of society which is useful for the prominent
digitalisation.
 Communities: They are undertaken as the other important stakeholders who tends to
include for the prominent health, safety and economic development. In terms of Science
Museum Group, communities are useful for company in terms of generating effective
revenues and profits. It is useful for SMG to sustain for the long time in the international
market for effective products and services.
Current issues
It tends to undertake the prominent stakeholders of the Science Museum Group which is
the board of trustees that prominently impact the existing issues which arise for the company.
For this, the significant problems are undertaken for BOD are mentioned as underneath:
Group ethics policy: For this, the BODs are approved for the group ethics that plays
major part for the continuous identification for reviewing the policy. For this, policy tends to
undertake effective representatives like staff members, trustees and so on and these stakeholders
prominently attend for effective meetings because of undertaking effective ethics by considering
various issues that are related with miscommunication, conflicts and so on (Pivovarov, 2018).
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Sustainability: It is the another problem which is faced by the prominent stakeholders for
the long time sustainability within the international market. For this, the group of trustees tends
to undertake the large portion to make prominent strategies considering the prominent problem.
CONCLUSION
By undertaking the above discussion, it is identified that hospitality is the wide sector that
leads to achieve growth in the emerging market. For this, they tends to undertake various factors
including accommodation, transport, food, events, parties, conferences and so on. This sector
tends to encompass various dynamic and strong economic industry that demand high skilled
individuals in terms of fulfilling their needs and requirements. The report leads to undertake
prominent overview of company considering the effective objectives, trends and sustainability.
Along with this, it leads to consider the financial operations and other CSR activities which is
useful in developing good image and reputation in terms of attracting large number of customers.
Lastly, it undertake stakeholders and current issues which is useful in terms of influencing the
performance of individuals and also find ways to overcome issues.
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REFERENCES
Books and Journals
Armstrong, G and et. al., 2019. Marketing an Introduction. 4 th ed. Harlow: Pearson
Agyeman K.W., 2019. Top 10 Museum Trends You Should Know. Museum Tech Trends,
[online] 8 January. Available at: https://medium.com/museum-techtrends/top-10-
museum-trends-in-2019-3c5582ed8253 [Accessed 14 July 2020].
Braun, R., 2019. Corporate Stakeholder Democracy: Politicizing Corporate Social
Responsibility. Budapest: Central European University Press
Blooploop., 2020. Top visitor attraction trends for 2020. [online] 6 February. Available at:
<https://blooloop.com/features/visitor-attraction-trends-2020/> [Accessed 14 July
2020].
Cusuem., 2020. Top Technology Trends for 2020: What it means for museums and non-profits.
[online] 4 February. Available at: <https://cuseum.com/blog/2020/2/3/top-technology-
trends-for-2020-what-it-means-for-museums-and-nonprofits> [Accessed 14 July 2020].
Demirag, I., 2018 Corporate Social Responsibility, Accountability and Governance: Global
Perspectives. 1 st ed. Abingdon; Routledge
Gregory, T., 2019 The Big Trends Transforming Libraries, Museums and Archives in 2019 and
Beyond. Axiell, [online] 4 July. Available at: <https://www.axiell.com/report/the-big-
trends-transforming-libraries-museums-and-archives-in-2019-and-beyond/> [Accessed
14 July 2020].
Ledgerwood, G., 2017. Greening the Boardroom: Corporate Governance and Business
Sustainability. 1st ed. Abingdon; Routledge
Long, D.G. and Ibar, Z., 2017. The Ethical Kaleidoscope: Values, Ethics, and Corporate
Governance. 1st ed. Abingdon; Routledge
Mallin, C., 2016. Corporate Governance. 6 th ed. Oxford: Oxford University Press
Pivovarov, K., 2018. The future of museums: The ultimate visitor experience. BDC Network,
[online] 27 March. Available at: <https://www.bdcnetwork.com/blog/future-museums-
ultimate-visitor-experience> [Accessed 14 July 2020].
Science Museum Group, 2019. Science Museum Annual Report and Accounts. [online].
Available at: <https://www.sciencemuseumgroup.org.uk/wp-content/uploads/2019/08/
SMG-Annual-Report-Accounts-2018-19v2.pdf> [Accessed 14 July 2020].
Wetherley, P. and Otter, D., 2018. The Business Environment. Themes and issues in a
globalizing world. 4 th ed. Oxford: Oxford University Press.
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