Revenue Management Strategies for Topdesk

The report discusses the various principles of revenue management and tools used by Topdesk to generate revenue. It highlights the role of social media, talk routes, and performance development plans in attracting customers and overcoming challenges. The report also touches on the significance of labor law, employment law, and financial statements like balance sheets and income statements in revenue management.

THE TRAVEL AND
TOURISM BUSINESS
TOOLKIT

Table of Contents
INTRODUCTION...........................................................................................................................2
TASK 1 ...........................................................................................................................................2
P 1 Principles of revenue management for the tourism and hotel industry.................................2
P 2 revenue management tools for maximising profit................................................................3
TASK 2...........................................................................................................................................4
P 3 Stages of HR life cycle and their importance for retaining and development talent............4
P 4 Performance management plan for a specific travel and tourism job role............................5
TASK 3............................................................................................................................................6
P5. Different legislation used by the Topdesk............................................................................6
P6 Impact of company, contract and employment law in Decision-making of business............7
TASK 4............................................................................................................................................8
P7. Various types of financial statements and reporting mechanism..........................................8
P.8 The importance and value of budget in the organisation......................................................9
Conclusion.......................................................................................................................................9
References .....................................................................................................................................11

INTRODUCTION
Travel and tourism sector provide variety of services to the customer like accommodation, tour
plan, food and beverages, entertainment, adventure activities etc. Topdesk travel and tourism
company offer variety of product to attract the customer. They target the 18 to 39 age group with
their different adventurous programme. They connect the people and try to decrease their stress
and work load by different tour package. The report highlights the principles of revenue
management and their role in travel and tourism industry. It explains the HR life cycle, their role
and the importance to develop the new talent(Ahmad, and.et.al., 2015). It also explains the
performance management plan and the various way to overcome the issues. The report highlights
the different legislation apply by the travel and tourism industry and their role in decision making
process. It helps to understand the different type of financial statements like balance sheet, profit
and loss account and the importance of budget in the tourism sector
TASK 1
P 1 Principles of revenue management for the tourism and hotel industry.
Revenue management has played very significant role in developing the growth of Topdesk
company which is specialized for tourism. It defines to provide right tourist facilities to the
customer at the right time at right place. The purpose of revenue management is to provide best
facilities to the tourist at low price . Revenue management includes such as pricing,marketing
and various channels of distribution which helps to maximize revenue. And it is a internal
concept and a long term strategy which helps to increase revenue for the growth of tourism
industry(Wang, and.et.al., 2015).
Basis principles of revenue management
1.Market segmentation: Market segmentation refers to a concept which divides the complete
market set up into smaller subsets to reach consumer with specific needs and wants. And in the
long run its benefits the company.
As the company knows that all the tourist don't have same taste and choices because all are
belong to different regions .different age group and have different income profile. when they
come to travel mode they have different choice which relates to destination. So market
segmentation is a different tools which helps the Topdesk Company to get a clear picture. And it

helps the understand specific demand of the consumer. And provides market strategy to target
specific area to generate revenue(Cetin, and.et.al., 2016).
2.Demand forecasting: Demanding forecasting is a pair of two words. Demand means outside
requirement of services .And forecasting means to make estimate in the present for a future
occurring event. Demand plays a very big role in decision making in tourism industry for
fulfilling the business objectives.
This method play very important role in Topdesk company .It helps the marketer and manager to
reduce the risk of decision making regarding future. It helps the Topdesk company to find out
supply needs of tourist, how many customer are demanding supply ,what are the choices and
needs of the customer. This whole concept helped the manager to organised the best facilities to
the tourist in their journey
3.Performance management: Performance management is an ongoing process which identifies
and develop the performance of the workforce in the organisation .It's aim is to set goal ,
providing feedback and reviewing result(Kimes, and.et.al., 2015).
Performance management play very important role in Topdesk company. It has helping the
human resources department and ensure that the humans contribute to profitability and maintain
the position of Topdesk company in market. Performance management is all about the people
who are working in top deck company. And its evaluate the employee behaviour,and maintain
the trust of customer. In this system the management make sure that the needs of the clients well
met and satisfied the clients. If the employees perform well in their job its provide good feedback
from clients.
P 2 revenue management tools for maximising profit
Revenue management are those tools which helps the organisation to increase revenue income. It
includes various tools and software's which helps to carry out task efficiently and effectively.
And generate clients faster for the organisation growth.
Tools for maximising profit are as follows:
1.Talkroute: This tools has help the organisation in communication process. This tools manages
the incoming calls according to the department of Topdesk company. by using this tools the
manager of Topdesk company can communicate with customer all over the world. And this tools
actually generate more clients because the team of company providing all the information and

facilities to the clients on a calls .This platform helps to cure problems and provide better
feedback which actual benefits the company growth and maximise profit.
2.Zopim: This is a website which helps to promote the services online. Through this website
Topdesk company allows the manager to talk with their clients while they visit the website..this
website include all the details regarding the tourist packages ,policy and many offers which can
excite the customer .It provide the clear picture to the clients and make them satisfied. And the
customer would easily get to know about the services of Topdesk company. this process actually
expand the tourism business externally all over the world (Kimes, and.et.al., 2015).
3.social media networking: Being active on social media boost the customer engagement and
revenue income of Topdesk company. social media side such as Facebook ,twitter which helps in
advertising .By making page on face book the customer get to know about the company services.
And the company reach to customer easily. the whole world is on Facebook and the people daily
visit other pages to get information according to their need.
TASK 2
P 3 Stages of HR life cycle and their importance for retaining and development talent.
The HR life cycle is a concept in human resources management that define the stages of an
employee. And describe the responsibility of the human resources department. It presents
challenges and opportunities at the each stage of HR life cycle.
The seven stages of HR life cycle are as follows:
1.Attraction. It is a first step of HR to have a great employees in a team which attract others
towards the workplace of Topdesk company. And its helps them to notice the brand of employer.
The employer brand helps the job applicant to know what company is all about which includes
culture ,people, and purpose as well. The good employee of the Topdesk company attracts the
applicants to work with the organisation(Board, and.et.al., 2016).
2.Recruitment: HR has the responsibility to hire the right candidates for the growth of Topdesk
company. In order to succeed in the recruitment process .the HR of Topdesk company first
analyse the position which need to be filled and what type of candidates must required. Provide
compensation which attract the candidates. And HR also advertise the vacancy on right selected
channels through which HR of Topdesk company find out the right talent suitable for the
position. After that HR check out all the resumes of the candidates and select those candidates

whose resume looks promising and matching with the position. And then HR move forward for
employment interview.
3.Onboarding: On boarding is a process in which the employees get to know about organisation.
In this Stage HR of Topdesk company tells about the organisation brand , values and culture to
the employee. this helps the employees to know about new job duties , establishing relation with
staff and provide awareness also.
3. Enablement :At this stage the HR of management introduce the organisation
culture ,mission and vision .In this the information is deliver to the new hires through
presentation and introduce themselves to explain their role in organisation. And it also
provide guidance to the new employee about safety,health and other policies.
4. Development: this is the stage at which both the employee and HR maintain their long
term career goals with the Topdesk company. HR develop the opportunities for employee
so that the employees get engaged with company for a long time. And provide training to
the employees professional growth(Board, and.et.al., 2016).
5. Retention: This stage the HR has the opportunities to encourage the employees of
Topdesk company. HR department appreciate the employees hard work by offering them
rewards ,flexible working,extra wages etc.
6. Separation: This is a last stage followed by HR of Topdesk company in which HR ensure
that all the policies and procedure is followed by employee or not. In this procedure the
HR has the responsibility to have a right people and removing the employees to maintain
smooth work as possible.
P 4 Performance management plan for a specific travel and tourism job role.
Basis Issues overcome
Miss communication The employees of Topdesk
company faces problems
regarding miss communication
because of language
barrier,quick assumptions and
poor confidence in front of
seniors which leads to
The management of Topdesk
company overcome this issues
by avoiding quick assumption
and listen more and speak less.
And find the strengths of
employees. Maintain
comfortable zone for the

retention. employees so that they don't
hesitate in speaking.
Job role The employees sometimes
don't understand their job role
and not able to perform good
in their particular task because
of less information and
knowledge
The management provide them
training and knowledge
according to their job task on
frequently basis. And provide
guidance which enhance their
work efficiency.
Poor Working relationship The employee of Topdesk
company faces problem like
uncomfortable zone with other
co-workers and not able to
build positive relationship and
has less confidence to work
together in a company(Board,
and.et.al., 2016).
The management overcome
this issues by conducting
group discussion to the
employee's so that they interact
with each other personally and
professionally. And appreciate
their skills .Topdesk company
provide ample opportunities to
the employee's for the
participation in the business
decision-making.
TASK 3
P5. Different legislation used by the Topdesk.
Topdesk used different rules and regulation for the smooth working and to provide security to
their employees. The legislation used by the Topdesk are:
Health and safety law 1974 : Health and safety law provides safety to the employees. The law
defines the various rights of the employees in the organisation like safe and secure environment,
proper lightning, air and space to work etc. Topdesk apply health and safety law in their
organisation. They organise various training programme to give training to their employees about
different situation and the ways to deal with situations like training for the adventurous trip.
Topdesk timely change the shift of the employees to make them stress free.

Equality law 2010 : The equality law refers to give equal value to the different age, gender,
religion, sex and race people. The law help to create the equal value among the all employees.
Topdesk provide equal place to their employees and regulate the organisation that no one can
take the advantage of other or bias on the basis of gender, sex, race and age basis. It helps the
employees to feel valued and free in the organisation (de Sosa and et.al., 2018).
Employment and labour law 1996 : The employment and labour law create a contract between
the employees and the employer. The contract includes the various terms and condition regarding
the job role, work environment, pay scale, leave etc. The law provide proper guidelines to the
employees top work in the organisation. Topdesk apply the employment law in the organisation
to make understood about the organisation culture to the employee. At the time of selection each
employee has to sign the contract.
P6 Impact of company, contract and employment law in Decision-making of business
Contract law 1994 : The contract law refers to the legal relation between the 2 or more parties
which is enforceable by the law. Topdesk has its own rules and regulation and bind the contract
with the customer regarding the payments and services. On the failure of fulfilling the needs and
demand of the consumer, consumer can withdraw the law any time (Breton and et.al., 2019).
The contract law includes the travel package like the facility of food and beverages, hotels,
buses, train, aeroplane, adventurous programme etc. It makes and huge impact on the decision
making of business. Contract law helps to set the price for their customer according to the client
budget like for the low level income group they provide the buses and train for the travelling.
Company law 2006 : company law defines the business of the organisation. It explains the
various task and activities done by management to earn the profit and increase the sales of the
organisation. It makes a huge impact on the business decision. It defines the various task perform
by the organisation and restrict the Topdesk to do the activities which are not specified in the
contract act. For example topdesk can only provide the travel and tourism services to the
customer (Gleibs, Alvarado, 2019).
Employment law 1996 : Employment law defines the various rules and regulation applied by
the company on their employees and employer. It creates a contract between the employer and
employee regarding the terms and conditions of the organisation. The employment law help in
making the decision for the organisation. It helps to manage all the activities and solve the
dispute among the employees which ultimately helps to improve the work quality and take the

efficient decision. For example Topdesk provide incentive and salary according to their
performance. The written statement regarding the pay scale or salary in contract help the
employer to minimize the conflicts regarding the salary issue and take the right decision for their
employees.
TASK 4
P7. Various types of financial statements and reporting mechanism
Financial statements helps to maintain the budget and provide a framework to prepare the
balance for the organisation activities. The various financial statements and reporting used by the
Topdesk are :
Income statements : Income statement is also known as profit and loss account. It represents the
various transaction related top the organisation which show the profit and loss of the business. It
shows the income at one side and in another side it presents the expenses. The balance of income
and expenses are the profit and loss of the company. If income is greater than the expenses then
there is profit in the organisation.
Income statement helps to prepare the budget for the topdesk. It shows all the expenses like food,
beverages, salaries and wages, rent, power, advertisement, hotel and travel expenses.
Cash flow : cash flow of the organisation presents the outflow and inflow of the cash. It explains
the uses and sources of the cash. It helps to estimate the cash requirement for the organisation to
meet the daily requirements (Ball and et.al., 2015).
Topdesk use the cash flow statement to maintain the cash in the company and meet the daily
requirement like tickets for the buses, maintenance of the luggage etc. they use the cash flow
statement to measure the sources through which they can generate the income like from the
customer for the travel package and the places where they use the fund like in booking of hotels,
trains and buses, travel agent's salary etc.
Balance sheet : Balance sheet are the financial tool which are used to balance the assets and
liabilities of the organisation. It represents the financial position of the organisation on a
particular date. It prepares on monthly, quarterly, semi-annually and annually basis.
Topdesk use the balance sheet to measure the financial position. It presents the assets like cash
equipments, machinery, building etc. and the liabilities like short term and long term borrowings,
debt, creditors etc. It helps to manage the liabilities through the assets of the Topdesk.

P.8 The importance and value of budget in the organisation
Budget of the organisation plays a vital role in controlling the business performance. Budget
represent the current state of the organisation or its financial strength (Sponem, Lambert, 201). It
helps to achieve the financial goal of the organisation and prepare themselves for the future.
Topdesk prepare the budget to estimate their expenses and prepare for the development and the
investment in more promotional activities.
Importance of the budget in controlling business performance
 Budget helps to estimate the expenses, revenue and plans for the future. The estimation of
expenses help to invest the money in the activities which are useful for the company like
hiring a local guide for the tourists, trainer for the adventures etc.
 Budget control the activities which generate extra expenses for Topdesk like the expenses
of managing the luggage. Budget make the pre estimation for the extra expenses so it
helps to manage the fund in the organisation.
 It controls the activities like pool party, disco night etc. The estimation of budget helps to
spend on the extra activities and promotion of the firm to get the higher consumer to
generate the revenue.
Importance of budget in identifying the variance
Budget helps to identify the variance in the organisation. Variance is the difference between the
actual result and the budget. After getting the actual result in topdesk they compare their revenue
from the budget and the difference between the revenue and budget is known as variance
(Variance Analysis – Overview, Budgeting, Benefits, 2018). Topdesk control the business
activities and review their variance to manage the difference. By identifying the variance through
the budget Topdesk can identify their business risk from the competitors and to manage the risk
they can increase their profit. It also helps to identify the required change, management risk and
creating the shareholders value.
Conclusion
The report summarises the key decisions taken by the Topdesk to maintain their revenue in the
organisation. It presents the various principle of revenue management and the different tools to
generate the revenue for the organisation. It explains that how the social media, Talk route, helps
to generate the revenue for the organisation by attracting the customer through different services.
The performance development plan helps to identify the various techniques in the organisation to

overcome the various issues. The report also summarise the different legislation like labour law,
employment law in the organisation and the benefits of the law to the employer and employee
and the use of financial statement like balance sheet, budget, income statement in the
organisation.

References
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OnlineVariance Analysis – Overview, Budgeting, Benefits. 2018. [online] Available through
<https://cleartax.in/s/variance-analysis>