Dreamworld Tragedy Analysis Report

This assignment delves into the tragic events at Dreamworld amusement park, focusing on the legal and business consequences. It examines the company's contractual obligations, management decisions leading up to the incident, and the subsequent government support for expansion amidst controversy. Students are expected to analyze these factors and draw conclusions about responsible business practices in light of this disaster.

Law for Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Company background..................................................................................................................1
Nature of business........................................................................................................................1
Company structure and management...........................................................................................3
Current Legal issue......................................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Nowadays, it become important for every organisation whether it is small or large to
comply with all norms and provisions in order to operate their business at large scale. As there
are many public companies which is listed on specified stock exchange around the world.
Through this they are attracting large number of shareholders in order to beat their revivals
(Alexander, 2012). This present report is based on Ardent Leisure whose ASX code is “AAD”
and GICS group industry is “consumer services”. This company is chosen because as it is based
on leisure who is providing huge number of services to their customers in terms of tourist
attractions, theme park. This company is most known for the operation of the “Dreamworld
theme park and WhiteWater World water park which is located on Gold Coast, Queensland,
Australia.
TASK
Company background
Ardent Leisure is one of the most popular company in Australia in leisure and
entertainment groups. This company was beginning by acquiring Dreamworld theme park in
1998. After words, in 2006, this enterprise constructed a world-class water park and in 2009
acquired QDeck. While doing all this, company got success and now it is operating over 100
leisure assets across the world. Throughout the world this group is operating Main Event Family
entertainment centres in US which is the main source of income of this company.
The future plans of this company is to focus on core entertainment and leisure business
activities in order to raise funds. These funds will be used in expanding the events for family
entertainment parks in North America. Mr Balnaves, said that while selling of “marinas” in order
to maintain reallocation of resources which are used by organisations. As marinas are those
destinations which is relay on unique demographics and not considered as core business of future
growth. Through this they were expecting that buyer and local private investor will increase to
overseas based funds (Turner and Zhan, 2012). Apart from this they are considering external
opportunities for making Dreamworld park as similar to Disneyland in US.
Nature of business
Property rights refers to the legal ownership of organisation towards specific property and
determine the ability how these belongings will be used. There are different kinds of property
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which can be hold by organisation such as; office property, retail property, industrial property,
multi-family residential property and income-producing & non-income-producing investment
(Tronchetti, 2014). Apart from this, there are also many rights which are available with person in
regard to holding these properties and these are;
 Right to use the good
 Right to earn income from the property
 Right to transfer the property to others
 Right to enforce property rights.
There is another real property or land where owner gets the right to use these land which
is based on their perception of ownership. Further, there are some intellectual property where
Ardent leisure can protect their rights from others. According to provision of Intellectual
Property Amendment act 2015, company is having to hold any type of property but it should be
registered under prescribed authority. As these are patent protection, where it provides legal right
to third person from manufacturing of goods (Bouchoux, 2012). Second is trade mark, it
develops the legal system in order to protect the intellectual property of businesses and
individuals. For Ardent leisure company trade mark is important because it delivers legal
protection which prevent other from using their brand name. As these trademarks are issues and
protected at national level.
A contract is anything which can be from formal written document to verbal promise
also. It depends upon the nature of business that in which type of contract thy are forming
whether it can be written, verbal, standard form of contract or period contract. Written contract is
providing more certainty to both parties because it clearly state roles and responsibilities which
has to be perform by them. Another is verbal, it will work good if there are no any disputes
between the parties. Some agreements are made on the basis of verbal which can lead into
uncertainty about party’s privileges and responsibility (Hammond, 2012). But in standard form
of contract it set out the term of agreement in advance where no little negotiation among the
parties happens. Last one is period contract, where agreement is made for specific time period
and these are done according to nature of business in which person is involved.
Ardent leisure company should enter in to a verbal contract when families are coming
into their parks. But if, any event is conducted by them in their park, then written contract must
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be used which protect their rights and minimise the risk of making clear bonds with their
customers.
Company structure and management
Ardent Leisure company is public company which is traded as AAD. This structure is
good for company because they can earn huge number of profit from customers. From main
events Ardent Leisure is generating more than 60% of funds while serving best quality of
services to families. Through this it also become easy for them to expand their business at
international level.
Senior management of this company is George Venardos who is non-executive
chairman and he is responsible for to conduct audit of organisation to see that how much risk are
associated with firm in investing the funds on different activities. Further, Roger Davis and
Randy Garfield are the director who take important decision regarding setting out the aims and
objectives of company. Along with this, they are making different strategies in order to beat their
competitors. Don Morris AO is also director of this company who has brought significant
changes in advertisement, promotion and marketing in tourism of company. Beside this, Simon
Kelly, he is managing director who are making strategies and plans which emphasis on growth
and sustainability of business at international level while following statutory requirements.
As the shareholders of this company are employees, customers, societies. So, it is
essential for them to satisfy their needs and requirement because without them company cannot
get succeed in competitive market (Lemley, 2013). Whatever decision are taken by organisation
should be according to laws but these should not disappoint them in fulfilling their yearnings or
requirements.
Current Legal issue
The current issue which is faced by organisation is that Dreamworld theme park is facing
new threat from rebuild public confidence. In 2016, in park four people were die in accident
which has been occurred on the Thunder River Rapids ride and due to this it was closed for six
weeks (Dreamworld's struggling parent company Ardent Leisure dealing with new threat, 2017).
New vendors of this company are facing challenges regarding restoring company social license
in the wake of four people who were died in this park. So, this issue become pitfall for
organisation in earning large amount of profits. This can also create legal problem for company
in terms of finance because of death of four people (Hirsch, 2011). To deal with this problem, it
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is essential for organisation to provide best quality of services and there should be improvement
in the security so that this incident will not take place again.
Senior management of this company is now looking to expand Dreamworld while
providing more services. Through this, they can find out more issues which can be face by
organisation in future (Hawkins, 2012). Along with this government is supporting them in terms
of finance in order to utilise bes5t resources.
CONCLUSION
From above report it can be concluded that while doing any business it is essential for
organisation to do contract according to their nature of business. Through which they will get
some additional benefits from them. Along with this, senior management is responsible for
taking fruitful decision for the entire organisation in order to keep their customers happy.
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REFERENCES
Books and journals
Alexander, G. S., 2012. Governance Property. University of Pennsylvania Law Review. pp.1853-
1887.
Bouchoux, D. E., 2012. Intellectual property: The law of trademarks, copyrights, patents, and
trade secrets. Cengage Learning.
Hammond, K. J., 2012. Case-based planning: Viewing planning as a memory task. Elsevier.
Hawkins, J., 2012. Credit on Wheels: The Law and Business of Auto-Title Lending. Wash. &
Lee L. Rev. 69. p.535.
Hirsch, A. J., 2011. The Code Breakers: How States Are Modifying the Uniform Disclaimer of
Property Interests Act.
Lemley, M. A., 2013. The Regulatory Turn in IP. Harv. JL & Pub. Pol'y. 36. p.109.
Tronchetti, F., 2014. Private property rights on asteroid resources: Assessing the legality of the
ASTEROIDS Act. Space Policy. 30(4). pp.193-196.
Turner, J. D. and Zhan, W., 2012. Property rights and competing for the affections of Demos: the
impact of the 1867 Reform Act on stock prices. Public Choice. 150(3-4). pp.609-631.
Online
Dreamworld's struggling parent company Ardent Leisure dealing with new threat. 2017.
[Online]. Available through: <http://www.abc.net.au/news/2017-03-28/struggling-
tourism-firm-ardent-leisure-dealing-with-new-threat/8394280>. [Accessed on 23rd
September 2017].
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