Foundation of Business and Tourism Report: Impact Analysis

This report delves into the profound impact of technology and social media on modern business and tourism marketing strategies. It examines how advancements in digital tools and social platforms have reshaped how companies promote their products and services, offering insights into the shift towards personalized and immersive marketing campaigns. Furthermore, the report analyzes the effects of globalisation on the UK economy, exploring both its positive aspects, such as enhanced trade and increased import preferences, and its negative consequences, including vulnerability to international economic cycles and challenges related to tax avoidance and structural unemployment. The analysis covers the emergence of e-commerce trends, website traffic, and the impact of social media on marketing ways in the UK. The report concludes with a comprehensive overview of the benefits and drawbacks of globalisation, and how these factors affect the business and tourism sectors.

Foundation of business and
tourism
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Section A..........................................................................................................................................3
Discuss how developments 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.
.....................................................................................................................................................3
Section B..........................................................................................................................................6
How globalisation as a phenomenon has impacted on a country or region of your choice along
with its positive and negative effects of the phenomena.............................................................6
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10
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INTRODUCTION
Business is considered as a firm or enterprising entity which is involved into industrial,
professional or commercial practices. On the other side, tourism is regarded as the activities of
individuals travelling to as well as staying into areas outside its usual environment for business,
leisure or other intent (Chatzigeorgiou and Christou, 2020). Moreover, business management
comprises arranging, planning, developing, staffing or controlling as well as guiding a enterprise
potential for an intent of attaining the firm’s listed objectives. The topics which are going to be
discussed in this report are, development in technology as well as social media has affects upon
the way organisation market its goods and services within last ten years. Along with this, the
impacts of globalisation on country highlighting their negative and positive effects are also
discussed in this report.
MAIN BODY
Section A
Discuss how developments 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.
Developments in technology can draw upon various knowledge areas, involving
engineering, historical, scientific and other knowledge for attaining few practical outcomes.
Moreover, technology is often an outcome of science as well as engineering, although these as
human practice go before two areas. In addition to this, technology development is significant
aspect that enhances the economical growth rate at macro level as well as profitability and
market shares of organisational at micro level. Social media is regarded as any digital tool which
enables users to quickly build as well as share information with people. It encompasses a board
range of application and websites. It play vital role in connecting people as well as building
relations not only with main influencer through covering its firm’s industry but also answering
questionnaires as well as listening to its feedback (Khorsheed, Othman and Sadq, 2020). As per
some study that is performed earlier, approximates that organisation are enhancing its marketing
budgets through an average of 80% over upcoming few years for keeping themselves updated
with changes. Within last 10 years, development in technology and social media both has
impacted the ways of organisation’s marketing its products or services in positive manner. As
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there are various digital as well as social media trends that comes up and enhance its product or
service marketing in effective and efficient way.
Impact of technology development upon marketing ways
Technology has transformed company’s product marketing through developing
campaigns in more personalised as well as immersive for individuals and develops ecosystem
which are very much included and targeted for marketers. Within firm’s product marketing,
technology have pervaded the system as well as infrastructure where organisation are developed,
delivering value to procurement as well as adding to bottom line. In year 2013, in about 47% of
marketers are very much concentrated upon innovation towards driving product promotion
marketing strategy. Moreover, previous year the number was 29%. In year 2022, 56% of
marketers’ technology as well as innovation will play vital role to determine where and how it
involves with its consumer (THE IMPACT OF NEW TECHNOLOGY ON MARKETING,
2019). Along with this, companies observe that new technology such as chatbots, blockchain
are developing into product marketing and has positive impact because of using this most of the
firm’s can easily advanced their strategy related to product market ways.
Impact of enhancing social media upon marketing ways
At present times, social media has become a prevailing platform for product marketing
because of higher brand exposure as well as huge investment return (Huang, Potter and Eyers,
2020). When over 3 million individual are browsing the content of social media, this open up
various opportunities for brands and enterprises for promoting their products or services with the
assistance of social media. This has positive impact upon firm’s product marketing ways. Also, it
is a greater way to determine company’s competition through observing its social media pages.
Some of the trends related to technology and social media which are developed into last 10
years and impacted the marketing ways of companies positively. Few are discussed below:
Websites traffic trends:
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Figure 1, Impact of social media upon marketing
(Source: Effects of Social Media Marketing on Your Business. 2020)
As various people are spending most of their time upon social media. By the year 2019,
this is approximated that there are about 2.77 billion users who are using social media across the
world which is more than in comparison to year 2017 that is 2.46 billion. It creates this a perfect
medium for driving traffic to firm’s websites. Moreover, social media also supports several
formats for marketing the product such as images, videos, podcasts and others. This is
considered to be an effective medium which is developed over the time and this helps company
to easily post about product or services offerings. It enables firms to reach towards several
customers into various locations across the world (Effects of Social Media Marketing on Your
Business, 2020).
Electronic commerce trends: The emerging technology develops internet access or e-
commerce; it enables the product buying as well as selling online that has leads towards huge
enhancement in e- commerce. Within UK, customers spend more time on surfing internet.
Moreover, this provides several benefits like access to international market as product are sold as
well as bought from any countries. The organisations having websites in which some features are
installed such as payment acceptance, product order and others. This also drives towards an
improved consumer satisfaction as well as data. So, well developed home pages enable consumer
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to purchase search and ask for help (Hendrayati and Pamungkas, 2020). For example: Rapid
racking which is considered as one of the leading storage suppliers. As technology is developing
its, uses e- commerce trend so initially it introduced a websites and then observed that it is an
effective sales channel for marketing and selling its storage solution. So, its totally transactional
websites permit consumers to see stock availability, place order as well as do payment online.
Moreover, development of technology also allows them a personalised login system which is
utilised for tracking orders. This involves options for changing details like delivery address,
payment information and other.
Section B
How globalisation as a phenomenon has impacted on a country or region of your choice along
with its positive and negative effects of the phenomena.
Globalisation is considered as the exploration of products, jobs, technology and
information across country cultures as well as borders. In economic term, this explains an
interdependence of countries around the world that is fostered by free trade. Globalisation
develops an effective opportunities for countries and also organisation in order to tap into
another countries or larger market places (Arestis2020). It includes the enhanced integration as
well as interdependent of global economy. Moreover, this has impacted the UK economy as well
in both positive and negative manner which are discussed below:
Figure 2, Effects of Globalisation on the UK Economy.
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(Source: Effects of Globalisation on the UK Economy, 2020)
Positive impact: The positive impacts of Globalisation upon UK countries are described
underneath:
 Enhanced trade: The globalisation as well as enhanced trade states that organisation may
benefits from specialising into products in which they has comparative advantage. For
example: The United Kingdom has a comparative advantage in product like nuclear man
power elements, financial services and many more. This allows them greater exports that
develop job opportunities in country.
 Greater preferences of imports: Globalisation has essentially enhanced the preferences
of customer products so the demand is also more which will considered as a positive
aspects over countries like UK. Such as, it has become familiarized towards the years-
round vegetables as well as fruit availability because of food importer.
 Maximised competition or lower prices: Globalisation is considered as that regional
monopoly has to face various global competitions (Cuadrosand Ordóñez2020). It drives
towards low prices for UK customers. Along with this, it is specifically noticed into
industries like food, clothing, electronics and other in which respective country is
consider to be a net importer.
 Migration: The globalisation is helpful as well as develops it simple for migrants to enter
and perform within United Kingdom country. Moreover, this labour free movement may
assist respective country in filling their job vacancies. Along with this, it is essential into
industries or organisation like NHS in which it often identify the shortage of workforce.
Negative impacts: The negative impacts of Globalisation upon UK countries are described
underneath:
 International economic cycle: It is considered to be a negative impact upon UK as they
are very much affected through the international economic cycle. Such as, a huge
recession within European Union or United State will impact respective country as it
depends upon both for exporting of various products. Moreover, the international credit
crunch had so much harmful impact on their economy as it were impacted through
financial crisis into another nation.
 Shifting sectors or structural unemployment: The globalisation has drives the shifting
into industries of economy (Riekhoff2020). Such as the various manufacturing sectors
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within United Kingdom not has any comparative advantage. Moreover, the growing firms
have benefits because of low labour costs. So, this procedure drives them towards
temporary structural unemployment as not employed person try hard to get job into new
sectors. Also, this arises an issues, several employees has feeling that they are lacking
due to globalisation procedures. As it allows organisation to gain more profitability but
employees has to struggle for identifying new opportunities that meets its last jobs. So,
this will be a negative impact over UK.
 Tax avoidance: As globalisation has allowed organisation to move production from
higher tax nations to lower one which is a negative impact (Barnes2020). Such as The
firms like Google, Apple, Amazon has considered the benefits of lower taxation within
nations such as Ireland, Luxembourg and so on. It means that Treasury of United
Kingdom lose out upon tax revenues.
 Mass relocation of people: This aspects impacts upon UK as it places huge stress over
respective country housing as well as public services due to net relocation of individuals
within it. The main focused over the relocation levels that leads towards Brexit vote-
broadly observed as a vote against globalisation.
From the above positive and negative impact of globalisation, it has been determine that
Globalisation is not considered to be a new phenomenon for UK. They have from various
internationalised world that ever seen first imports as well as exports. During the revolution of
industries, global ties were significant in order to enable them towards raw material importing to
product exporting. Moreover, this continues in recent times also and the globalisation process
benefits low prices, economies of scale into production, huge preferences of imports and many
more. .
CONCLUSION
As per the above report, it has been concluded that technology and social media has changed
the ways of firm’s product or service marketing. Moreover, it is a positive impact over
companies as various business growths over last 10 to fifteen year due to using social media and
technology technological changes. In addition to this, Globalisation develops an effective
opportunities for countries and also organisation in order to tap into another countries or larger
market places. It impacts the country positively and negatively as well. Also, the globalisation
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process is beneficial for them as low prices, economies of scale into production, huge
preferences of imports and many more. .
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REFERENCES
Books and Journals
Chatzigeorgiou, C. and Christou, E., 2020. Adoption of social media as distribution channels in
tourism marketing: A qualitative analysis of consumers’ experiences. Journal of Tourism,
Heritage & Services Marketing. 6(1). pp.25-32.
Khorsheed, R. K., Othman, B. and Sadq, Z. M., 2020. The Impacts of Using Social Media
Websites for Efficient Marketing. Journal of Xi'an University of Architecture &
Technology. 12(3). pp.2221-2235.
Huang, S., Potter, A. and Eyers, D., 2020. Social media in operations and supply chain
management: State-of-the-Art and research directions. International Journal of
Production Research. 58(6). pp.1893-1925.
Hendrayati, H. and Pamungkas, P., 2020, February. Viral Marketing and E-Word of Mouth
Communication in Social Media Marketing. In 3rd Global Conference On Business,
Management, and Entrepreneurship (GCBME 2018) (pp. 41-48). Atlantis Press.
Arestis, P., 2020. UK and other advanced economies productivity and income
inequality. International Review of Applied Economics. pp.1-16.
Cuadros, A. and Ordóñez, J., 2020. Globalisation: Recent traits and challenges. The World
Economy. 43(3). pp.530-533.
Riekhoff, A. J., 2020. Labour market reforms in times of globalisation. Shaping and re-shaping
the boundaries of working life.
Barnes, P., 2020. Economic and social effects of money laundering: the UK case.
Online
THE IMPACT OF NEW TECHNOLOGY ON MARKETING. 2019. [Online]. Available
Through:< https://www.digitalmarketing-conference.com/the-impact-of-new-technology-on-
marketing/>
6 Positive Effects of Social Media Marketing on Your Business. 2020. [Online]. Available
Through:<https://www.cloohawk.com/blog/6-positive-effects-social-media-marketing-your-
business>
Effects of Globalisation on the UK Economy. 2020. [Online]. Available Through:<
https://www.economicshelp.org/trade2/globalisation_uk_economy>.
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