Foundation of Business and Tourism: Tech & Globalisation Impact

This report delves into the dynamic interplay between technology, social media, and globalisation within the realms of business and tourism. It meticulously examines how technological advancements and the rise of social media have reshaped marketing strategies over the past decade, leading to new e-commerce trends and website traffic patterns. The report further investigates the impact of globalisation on the United Kingdom, analysing both its positive effects, such as increased trade and consumer choice, and negative consequences, including tax avoidance and structural unemployment. Through detailed analysis, the report provides a comprehensive overview of the evolving business landscape, highlighting key trends and their implications for businesses and the tourism sector. The report discusses the effects of globalization on the UK economy.

Foundation of business and
tourism
1

Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Section A..........................................................................................................................................3
Discuss how development of technology & social media have influenced the way
organisations market their goods as well as services within the last ten years............................3
Section B..........................................................................................................................................6
How globalisation as a phenomenon has influenced a region or country of your choice along
with its positive & negative effects of the phenomena................................................................6
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10
2

INTRODUCTION
Business is defined as an enterprise or a firm that involved practices such as professional,
commercial and industrial as well. On the other hand, Tourism is consider as an activity if a
person travelling & staying into areas outside from the visual environment for leisure, business
and for other intent as well. Further, business environment involves effective planning,
developing, arranging, staffing, implementing, controlling and guiding an enterprise in order to
attain objectives and goals within stipulated time period (Chen, 2019). In addition to this, it is
important for both the business and tourism to adopt new technologies and change offering
according to the trends as it help in sustaining in market for longer time period. The present
report will cover development of social media and technology impact on the offerings provide by
company last ten years. In addition to this, there is discussion about impact of globalisation on
country that highlights positive and negative impact as well.
MAIN BODY
Section A
Discuss how development of technology & social media have influenced the way organisations
market their goods as well as services within the last ten years.
Technology is changing rapidly and also changes the buying behaviour and preferences of
customers as they like to prefer consuming those products and service that is new and innovative
in market. The development in technology drawn over various factors or knowledge areas
including scientific, historical, engineering and other practical outcomes. In addition to this,
technological development plays a significant role in the overall growth and development of
economy. It also assist organisations to increase their performance level and earn higher profits
in an effective manner (Del Vecchio, 2018). It is important for bout businesses and Tourism
sector to adopt new technology as it help in attaining competitive advantage at marketplace and
also aid in attaining growth in an appropriate manner. Social media is consider as an effective
marketing and digital tool that help in reaching large number of people within short span of time.
In addition to this, it enables people to gather information in a rapid manner about anything and
assist in better decision making as well. Social media consist of various applications and
websites by which companies market their products and services and enhance their customer
base level. It is analysed that development of social media websites and applications plays an
3

important role in developing relation with customer and connecting more number of people in
short time frame. According to a study, it has been analysed that around 70% of companies
increase their market budgets of coming years in order to make themselves update according to
the changes take place in environment. In the last 10 years, both the social media and technology
influenced the manner in which product and service offered by company into a positive manner.
There are different social media and digital trends which comes in market and help company to
provide products in more effective and attractive manner.
Impact of technology development upon marketing ways
The development in technology the organisations product marketing by developing
campaigns in an attractive and personalised way. In addition to this, it also help in developing
ecosystem that plays an important role in order to target market (Hall and Williams, 2019). In
companies product marketing, innovative technology have pervaded system and infrastructure
where companies are developed, procure and delivering values as well. In the year 2013, it is
analysed that approx. 47% of the marketers are focused towards bringing innovation that drives
as a promotional marketing strategy. Among with this, in previous years the number was 28%. It
is determine that in the coming year 2022, 50% of marketers technology and innovation plays
important role in identifying how and where a consumer involves in a proper manner. Moreover,
many organisations observe that innovative technology like blockchain, chatbots are developing
marketing of products and has positive influence on the overall performance and profitability of
company.
Impact of enhancing social media upon marketing ways
In today’s scenario, social media plays vital role and help companies to promote their
product and create awareness about goods and services to large number of people in an effective
and attractive manner. It is determined that more than 3 million of people are searching and
browsing social media applications which opens an opportunity for companies to enhance their
customer base level by promoting offering on such applications. The social media applications
such as Facebook, Instagram and YouTube has involve millions of users and promoting goods
and services on such applications has positively impact on the sales and profits of company. It is
determine that social media has positive impact on the overall performance level (Holloway and
Humphreys, 2019). Along with this, it also assist in determining the level of competition
prevailing at marketplace by observing social media pages of competitors.
4

Some of the trends associated to technology & social media that are developed within last
10 years and influenced the marketing ways of organisations positively are given below:
Figure 1, Impact of social media upon marketing
(Source: Effects of Social Media Marketing on Your Business. 2020)
Electronic commerce trends: The new technology develops e-commerce and internet access
that enable buying and selling of products online which has high influenced on the e-commerce.
In United Kingdom, it is analysed that customer spent more time on browsing internet. In
addition to this, it gives them various benefits such as access to international market that is
offered by companies at a global level. There are various companies that also offer various
features like product order, payment acceptance and many more. All this will directly leads to
customer satisfaction and customer retention as well. It is important for companies to effectively
develop their web page that consist of all the information that is easy and convenient for
customers. For instance, rapid racking, a leading storage supplier who earlier uses offline
methods to take orders and sell products is now using e-commerce trends and developed their
own website. This has positively impact on the sales and profitability level of company (Li,
2018). along with this, such website provide a choice to customer to select payment mode, stock
5

availability and place order in a proper manner. Further, development in technologies help
customer to go for personalised goods and service system that is used in order to track orders.
Moreover, it also include features payment information, changing deliver address and many
more.
Websites traffic trends: There are large number of people who are spending their time o
social media applications like Facebook, Twitter, Instagram, YouTube and many more. As per
the data of 2019, it is determine that around 2.78 billion people are using social media globally
that is high as compare to the previous year 2017 which is 2.47 billion. It develop an appropriate
medium for driving traffic on an organisation websites. Along with this, it is analysed that social
media applications allows organisation to take various formats for marketing products and
services like podcasts, videos, images and many more. Moreover, social medial undertaken as an
effective medium that is developed over the time and helps organisation to properly post their
offerings. Further, it allows companies to reach globally which has positive impact on
performance and profitability of an organisation.
Section B
How globalisation as a phenomenon has influenced a region or country of your choice along
with its positive & negative effects of the phenomena.
Globalisation is defined as a process of exploration of technology, products information
and jobs across the boundaries of country. In easier terms, it is termed as an interdependence of
countries around the whole world which is foster through free trade. It is analysed that
globalisation provide various number of opportunities to an organisation to expand their business
at a large scale and earn higher profits as well (Michael, Reisinger and Hayes, 2019). In addition
to this, it involve interdependent and integration of global economy. It is analysed that
globalisation impact both negatively and positively on the economy of United Kingdom that is
given below:
6

Figure 2, Effects of Globalisation on the UK Economy.
(Source: Effects of Globalisation on the UK Economy, 2020)
Positive impact: The positive influences of Globalisation upon United Kingdom is discussed
below:
 Greater preferences of imports: It is analysed that globalisation is significantly increased
the choice and preferences of customer goods that increased the demand and is
undertaken as positive influence on the economy of United Kingdom.
 Enhanced trade: Globalisation increased the trade of companies that may advantage
from specialising into goods that they have as comparative advantage. For instance, UK
has the comparative benefit of products such as man power elements, job opportunities,
financial services and so on. It allow them to increase level of exports and providing
more number of job opportunities in an effective manner.
 Maximised competition or lower prices: It is determine that globalisation is undertaken
as a regional monopoly which face high competition in market. in addition to this, it
drives to lower price for customer within the United Kingdom. Moreover, it is analysed
that in particular industries like electronics, food, clothing and many more facing tough
competition at the marketplace.
 Migration: Globalisation assist migrants to enter into the market of UK and perform in
an effective manner. In addition to this, it also assist companies to provide job
7

opportunities at marketplace. For example, it is important for organisations such as
National Health Service to often analyse lack of workforce and fulfil them in order to
gain success globally.
Negative impacts: The negative influence of globalisation on United Kingdom is given below:
 Tax avoidance: It is analysed that globalisation allow companies to shift production from
higher tax nation to the lower one and is consider as a negative impact, For instance,
companies like Apple, Amazon, Google has undertaken advantage of lower taxation in
nations like Luxembourg, Ireland and many more. It directly shows that treasury of UK
lose upon its tax revenues.
 Mass relocation of people: It is determine that relocation of people creates a stress over
UK housing & public services because of net relocation of individual in it. In addition to
this, the main emphasis on relocation extent which leads towards Brexit vote and is
observed against the globalisation.
 Shifting sectors or structural unemployment: Globalisation has impose the
shifting of industries towards economy. In UK, many manufacturing industries does not
have any comparative advantage. In addition to this, the developing enterprises have the
advantage due to low cost of labour. Therefore, this process drives them to them to
temporary structural unemployment as not employed person try hard to get job into new
sectors.
From the above discussion of negative and positive impact of globalisation, it is sated
that globalisation is not undertaken as a new phenomenon for United Kingdom. In
addition to this, it have seen from different internationalised world that ever seen first
imports & exports. At the time of revolution of industries, the global tie-ups were
important for enabling raw material importing (Perfetto, and Vargas-Sánchez, 2018).
Along with this, it is analysed in the current times that globalisation process benefits low
prices, economies of scale into production, huge preferences of imports & many more. .
CONCLUSION
From the above study, it has been analysed that development of technology & social media
change the manner in which an entity offer its goods and service at marketplace. In addition to
this, such developments has positive impact on the overall performance and profitability of an
organisation. The way of doing marketing and offering is wholly changed in the last 10 years.
8

Moreover, Globalisation has created a number of opportunities and possibilities for companies
tom offer their presence in other countries and improve their performance level. Along with thus,
globalisation process is advantageous for companies due to economies of scale, low prices and
high preferences on imports as well.
9

REFERENCES
Books and Journals
Chen, H., 2019. A pilot study of business travelers’ stress-coping strategies. Tourism and
Hospitality Research, 19(2), pp.252-258.
Del Vecchio, P., and et. al., 2018. Creating value from social big data: Implications for smart
tourism destinations. Information Processing & Management, 54(5), pp.847-860.
Hall, C. M. and Williams, A. M., 2019. Tourism and innovation. Routledge.
Holloway, J.C. and Humphreys, C., 2019. The business of tourism. SAGE Publications Limited.
Li, T., and et. al., 2018. Business characteristics and efficiency of rural tourism enterprises: an
empirical study from China. Asia Pacific Journal of Tourism Research, 23(6), pp.549-
559.
Michael, N., Reisinger, Y. and Hayes, J. P., 2019. The UAE's tourism competitiveness: A
business perspective. Tourism Management Perspectives, 30, pp.53-64.
Perfetto, M. C. and Vargas-Sánchez, A., 2018. Towards a Smart Tourism Business Ecosystem
based on Industrial Heritage: research perspectives from the mining region of Rio Tinto,
Spain. Journal of Heritage Tourism, 13(6), pp.528-549.
Perić, M., Vitezić, V. and Badurina, J. Đ., 2019. Business models for active outdoor sport event
tourism experiences. Tourism Management Perspectives, 32, p.100561.
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>.
10