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Unit- 4 The Travel and Tourism Business Assignment

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Added on  2020-10-05

Unit- 4 The Travel and Tourism Business Assignment

   Added on 2020-10-05

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Unit- 4The Travel andTourismBusiness
Unit- 4 The Travel and Tourism Business Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1P1 Discuss rationale and principles of revenue management with respect to travel and tourismindustry........................................................................................................................................1P2 Examine the specific sector of travel and tourism industry in which revenue managementtools in order to increase profit.................................................................................................3P3 Review various stages of HR life cycle and importance in retaining and developing talent.4P4 Develop performance management plan by applying different techniques...........................5P5 Explore legislation which travel and tourism industry adhere to..........................................6P6 Illustrate impact of employment and contract law on decision making process within traveland tourism industry....................................................................................................................7P7 Different types of financial statements within travel and tourism industry...........................7P8 Explicate importance and value of budget for controlling business performance ................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
Unit- 4 The Travel and Tourism Business Assignment_2
Unit- 4 The Travel and Tourism Business Assignment_3
INTRODUCTIONAt present scenario, travel and tourism industry is fastest as well as leading business.Different activities along with operations where people visit other places which is different fromtheir usual environment is included within tourism. The commercial organisations are rapidlyenhancing their business with an aim to enhance their profit as well as assist government tocreate an affirmative impact on their economy. Carnival Corporation & Plc which is a leisureorganisation. It is a British-American cruise operator. Carnival Plc is listed on London StockExchange and Carnival Corporation on New York Stock Exchange. They provide wide rangeproducts which vary from accommodation, entertainment, shore excursions, events, food, barsand many others. This report comprises of principles associated with revenue management,various stages associated with HR life cycle. Furthermore, performance management plan isprovided, legislation and contract laws are discussed. Along with this, financial statements areanalysed in context to importance of budget.P1 Discuss rationale and principles of revenue management with respect to travel and tourismindustryA process of sales of right product to accurate client at precise time frame at correct pricethrough appropriate distribution channel is known as revenue management. It is associated withcontrolling entire cost and benefits within industry (Budeanu and et. al., 2016). Within CarnivalCorporation and Plc, revenue management is associated with measuring complete cost andbenefits in their extra booking in accommodation in world. Furthermore, it comprises ofassessment of accessibility of services, ADR & evaluation that standardized rates are maintainedby which revenue can be increased. In context of, finance manager needs to concentrate onaccommodation, food, cruise services, etc. to acquire more profit base. Apart from this,evaluation of customer's behaviour as well as optimal accessibility of services and products willassist Carnival Corporation and Plc to enhance their entire locale.Rationale and Principle of Revenue ManagementThis efficaciously facilitates in creation of new goods, services & provides captivatingprices that will assist organisation to carry out their operations in effective manner(Chang, Backman and Chih Huang, 2014).1
Unit- 4 The Travel and Tourism Business Assignment_4

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