Foundation of Business and Tourism Report: Tech & Social Media

This report, focusing on the foundations of business and tourism, delves into the significant impacts of technological advancements and social media on marketing strategies over the past 10-15 years. It highlights how companies have adapted to leverage these tools for enhanced customer engagement, brand awareness, and market reach, while also considering the cost-effectiveness of digital marketing compared to traditional methods. Furthermore, the report examines the phenomenon of globalisation, using the United Kingdom as a case study to illustrate both its positive effects, such as increased job opportunities, lower product costs, and technological advancements, and its negative consequences, including environmental concerns and challenges for local investors. The analysis provides a balanced perspective on the complex interplay between business practices, technological innovation, and global economic trends, offering valuable insights into the evolving landscape of business and tourism.

Foundation of
business and tourism

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION A.....................................................................................................................................3
Discuss how development in technology and social media have impacted on the way
companies and organisations market their products and services in the last ten or fifteen years3
SECTION B.....................................................................................................................................5
With the help of clear examples, discuss how globalisation as a phenomenon has impacted on
a country or region of your choice. In your discussion remember to put forward both positive
and negative effects of the phenomena........................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Foundation of business can be defined as the process in which business organisation tries to
set up the plans and policies for attaining their targets. It is necessary to understand that any of
the organisation can only perform better in that particular situation if they are able to bring
changes within their technologies and working style as per the requirement of market. In this
respective project two different question will be address where talking about the first one it will
discuss about the impact of technology and social media in performing the business activity in
last 10 to 15 years. Along with this, section question will be related globalisation as a
phenomenon and how it has been affecting the country in positive and negative way.
SECTION A
Discuss how development in technology and social media have impacted on the way companies
and organisations market their products and services in the last ten or fifteen years
Business sector is the backbone of every nation for improving the overall economic
condition and for that it is necessary changes must be brought as per the demand of situation. If
any of the entity fails to perform as per the requirement, then it becomes difficult for them to
sustain within the market for longer time period. On a daily basis technologies and social media
is improving where customers are focusing and even companies have been benefitted from this
technology because their way of performing within the market have changed significantly. For
an of the organisation, the key way of attaining its target is current scenario is social media and
latest technologies because it makes work easier and faster (Spring, Johnes and Hald, 2017). If
any of the organisation do not takes the help of social media and technology, then it becomes
difficult task for them in attaining their goals and target. The changes have started to seen in last
ten to fifteen years where people have started to show their interest towards social media and it
has been one of the reason that companies nowadays focuses that how they can increase their
customer base through online media. Below, some of the points have been mentioned which will
focus that how development in technology and social media have impacted on the way
companies and organisation market their product and services in the last ten or fifteen years.
 For whom advertisement needs to be done: The first thing which is very much
important for any of the business organisation is that how they are needed to perform so
that goals can be accomplished. It is said that social media platform easily allows the

organisation to identify the potential customers who are willing to buy the product of
specific company. It certainly allows to enhance the overall sales percentage which can
be helpful in generating higher percentage of revenue (Milne, 2007).
 Social media can cover large market as a part of advertisement: For any of the
organisation, marketing plays the crucial role and at the same time it is necessary to
understand that if company needs to perform then they must be able to cover large market
share. For this, social media has been one of the effective platform since last 15 years
which allow to advertise the product at a very high speed. This process of advertisement
is very fast and quick which certainly allows the company to accomplish their goals and
target within specific time period.
 Less Expensive as compared to physical marketing: If any of the company believes
upon physical marketing then they there are number of expenses which incurs which
certainly reduces the overall revenue of a company. But, at the same time when
marketing is done through the process of online means then company only needs to pay
the charges of advertisement which incur very less amount of money due to which profit
percentage can be increased.
 Connectivity: Companies with the help of social media and advanced technologies
always allows them to remain connect with customers which is very much important in
current scenario. Company can easily identify about the requirement of customers and
their lifestyle which will certainly allow them to determine that how they are needed to
perform any of the business activity through which goals can be accomplished (Handy,
2011).
 Brand awareness: Marketing is mainly done for improving the brand image of a
company and in this respective process it is necessary to understand that any of the
company can only improve its brand image if they are properly aware about the business
entity. Presently, it can be said that social media have allowed the business organisation
to ensure that will provide proper information to their customers related to their product
and services.
All of this points shows that social media and advancement in technologies has allowed the
company to perform better and even it has guided that how company needs to take any of the
business decision. Taking suitable decision is very much important for any of the entity and in

that particular section social media and technology can become the key factor (Cacciattolo,
2014). Talking about the technologies it has been really helpful for the organisation because it
simply indicates that how any of the organisation needs to perform in best possible manner. It is
said that technologies allow to store the data about the preferences of customers and their recent
search which related to product and services which is provided to the customers. As technologies
allows to collect the data organisation can easily work in that particular area that how they need
to perform in the market so that their goals and target can be accomplished. Technologies simply
allows to boost the performance of a company which is necessary in current scenario for
sustaining within the market. Overall, it can be said that technologies and social media have
allowed business sector in last ten to fifteen years to enhance them perform better with the help
of effective marketing approaches.
SECTION B
With the help of clear examples, discuss how globalisation as a phenomenon has impacted on a
country or region of your choice. In your discussion remember to put forward both positive and
negative effects of the phenomena.
Globalisation can be explained as the concept where organisation tries to expand its
business to the international platform for attaining their goals and targets. As development in the
infrastructure has simply allowed the business organisation to perform effectively through which
their targets and goals can be accomplished (Saunila, Mäkimattila and Salminen, 2014). The
profit percentage of company simply increases whenever they start to perform at international
platform but it is necessary that proper strategies should be formed so that positive result can be
attained.
Talking about United Kingdom, it has one of the best market for performing business
activity due to which each of the multinational organisation tries to expand their business so that
their goals can be accomplished. The concept of globalisation has been very effective for nation
because it certainly allows the organisation to earn foreign currency which helps in improving
their overall economic condition. Also, UK is also known for their stablished economic
condition and in this respective condition any of the MNC gets greater opportunity to perform
better. There are number of positive as well as negative side of globalisation for any of the
country which has been discussed below in detail:

Positive Impact of Globalisation for UK
 Increase Job opportunity: It is essential to understand that whenever any of the
company enters into new market, the first thing which it provides to specific region is jo
opportunity which is very much important. In current scenario, economic condition of
any nation can be improved only in that respective condition where there is high
percentage of employment ratio (King, 2016). In context of UK, globalisation of business
organisation has allowed them to provide more job opportunity due to which many
peoples are able to fulfil their basic needs.
 Products can be sold at low cost: People of any country things that they can
individually benefitted if they are able to get the product and services at a reasonable
price which is not possible if company perform their business operation at limited
ground. In context of UK, concept of globalisation has allowed them to distribute product
and service at a very reasonable amount. This also allow local public to improve their
overall living standard.
 Helps to collect higher tax rate: Any of the nation depends upon tax which they collect
for commercial sector and if a country has more number of MNCs then there is higher
percentage that they will be able to collect more tax which will allow them to do
improvement work (Bendix and Fisher, 2017). Talking about UK, concept of
globalisation is allowing them to collect higher tax percentage and even chances to earn
foreign currency is also them at the time of exporting the product to different nation. It
means the government will be benefitted from this respective concept.
 Improves competition: Whenever in any of the market there is high competition then
chances of improving the quality of product increases automatically. It is because
improvement within the quality of product is only the key way to sustain within the
market. In terms of UK, globalisation has forced their local business organisation to
improve the quality of their product even at a reasonable amount which mean that fair
trading is the only option for organisation to remain competitive in the market.
 Allows to introduce new technology in the market: It is said that whenever any of the
business is performed at international level, different technologies are needed to be
brought for performing effectively. In context of UK market, globalisation is allowing the
local investor to being new technology within their business organisation so that they can

perform effectively within the market (Elsmore, 2017). This helps to provide better
services to the customers.
Negative Impact of Globalisation for UK
 Globalization increases world carbon dioxide emissions: The concept of globalisation
certainly have the impact upon environment which is mostly on a negative side. In UK,
globalisation have created huge problem because it is increasing the percentage of carbon
dioxide emission which has a bad impact upon environment as well as for the health of
public.
 Creates problem for local investor: Whenever any of the multinational company enters
into the market, it certainly increases the competition level in the market but at the same
time it also creates issues for small investors. In the same manner, small investor of UK
has to suffer because multinational companies are not allowing them to sustain within the
market due to which company has to suffer from huge losses (Awadari and Kanwal,
2019).
 No Job Security: Although concept of globalisation increases the job opportunity within
any of the nation but at the same time, there is no surety that whether employee have a
secured future with same organisation or not. Even it has become one of the cause for UK
as well because if company is unable to perform better then they simply try to back
themselves and in that condition, employee has to suffer from number of problems.
These are some of the positive and negative side of globalisation for the nation like UK
where number of organisation tries to set up their business on a daily basis for attaining their
goals and target.
CONCLUSION
From the above discussion, it can be concluded that concept of globalisation has a positive
as well negative side for any of the nation. The use of social media has increased at a significant
ratio which has certainly allowed the business entity to focus in this department for conducting
marketing work so that more customers can be connected with organisation. Globalisation and
social media is allowing to keep market on a favourable side through keeping high competition
among the rivalry firms.

REFERENCES
Books & Journals
Spring, M., Johnes, G. and Hald, K.S., 2017. Productivity: Multi-disciplinary Perspectives for
Policy and Management.
Milne, P., 2007. Motivation, incentives and organisational culture. Journal of knowledge
management.
Handy, C., 2011. Beyond Certainty: the changing worlds of organisations. Random House
Cacciattolo, K., 2014. Understanding organisational cultures. European scientific journal. 2(1).
pp.1-7.
Saunila, M., Mäkimattila, M. and Salminen, J., 2014. Matrix structure for supporting
organisational innovation capability. International Journal of Business Innovation and
Research. 8(1). pp.20-35.
King, D., 2016. Human relations movement/Mayo. In Encyclopedia of Human Resource
Management. Edward Elgar Publishing Limited.
Bendix, R. and Fisher, L.H., 2017. The perspectives of Elton Mayo. In The Anthropology of
Organisations (pp. 11-18). Routledge.
Elsmore, P., 2017. Organisational Culture: Organisational Change?: Organisational Change?.
Routledge.
Awadari, A.C. and Kanwal, S., 2019. Employee participation in organizational change: A case of
Tesco PLC. International Journal of Financial, Accounting, and Management. 1(2).
pp.91-99.