Foundation of Business and Tourism: Impact Analysis Report

This report delves into the foundations of business and tourism, exploring the profound impact of technology and social media on market offerings over the past 10-15 years. It analyzes how businesses adapt to changing consumer behaviors and leverage digital platforms for marketing and customer engagement. The report also examines the effects of globalisation, using the United Kingdom as a case study to illustrate both the positive and negative consequences. Positive aspects discussed include increased job opportunities, lower product costs, higher tax revenues, enhanced competition, and access to new technologies. Conversely, negative aspects such as increased carbon emissions, challenges for local businesses, and job insecurity are also addressed. The report concludes by highlighting the importance of strategic decision-making in navigating the complexities of the modern business landscape.

Foundation of
business and tourism

Table of Contents
Introduction......................................................................................................................................3
Section A.........................................................................................................................................3
Illustrate manner in which technology and social media has created impact on the market
offerings of the organisation in last ten to fifteen years..............................................................3
Section B..........................................................................................................................................5
Through the assistance of examples, discuss the manner in which globalisation have
influenced region. Illustrate both positives along with the negatives of phenomena..................5
Conclusion.......................................................................................................................................7
References........................................................................................................................................9

Introduction
Foundation of business refers to process where organisation tends to formulate plans
along with policies for attainment of targets within peculiar frame of time. This is critical to
acknowledge that organisation can only carry out their operations in appropriate manner only
when they are open to the changes through which they can bring in continuous improvisation
within the processes that are being carried out (Chatzigeorgiou, 2017). This will lead them to
address the market needs as per the required standards and for doing so technologies can be
utilised. In this report, two different questions will be acknowledged that involves discussion
related with influence of the technology along with social media in carrying out the business
activities. The other section will address the concept of globalisation and manner in which
creates influence on the functionality of the country by considering both affirmatives as well as
pessimistic.
Section A
Illustrate manner in which technology and social media has created impact on the market
offerings of the organisation in last ten to fifteen years.
Business sector cats like a backbone for each country through which overall economy of
the organisation can be improvised along with ensuring that relevant alterations can be carried
out as per the requirements of the market. In case if any of the entities are not able to conduct
their operations as per the requirements then this will be critical for them to ensure sustainability
within the marketplace. On the regular basis, technologies along with social media is are
improvising continuously that is the place where customers are emphasising more. The
organisation can have significant benefits from the technology as they can conduct their
operation according to the market requirements. For the organisation, the key manner for
attainment of their target within the current scenario is that it becomes easy to reach customers
and quickly.
In case if organisation do not opt for social media then it will be difficult for them to
achieve the tasks as per the formulated target and goals. The alterations have been seen from the
last 10 to 15 years that with the enhancement of the technologies, organisations have started to
make investment within social media platforms. With this customers have also rapidly shifted to
the online mediums to look into the offerings of organisation and accordingly purchase (Chung

and et. al, 2017). Some critical aspects have been provided that will emphasise on the manner in
which technology as well as social media have created influence in the firm market their
offerings. They are as follows:
 For whom advertisement must be conducted: The initial aspect that is critical for the
organisation is to identify the platform that will be better for addressing their needs as
well as the manner in which this can be used for attainment of the goals. This is identified
that the social media platforms enables firms within identifying the probable customers
those are willing to buy the offerings furnished by the peculiar firm. In addition to this,
this will enable within enhancement of sales percentage that will aid within generation of
the high percentage.
 Social media covers larger market in terms of advertisement: For each firm, marketing
has a critical role and at the same frame of time it is essential to acknowledge that
whether firm conducts their operations for covering up larger market shares (Drummond,
McGrath and O'Toole, 2018). Furthermore, social media is efficacious platform from last
fifteen years that will enable within advertising products at the higher speed. In addition
to this, the advertisement process is rapid that will enable organisations within
accomplishment of their targets as well as goals in the specific duration of the time.
 Less expensive in comparison to the physical marketing: If any of the firms believes on
the physical marketing then there are ample of expenses that occurs will minimise the
complete revenue of the organisation. In addition to this, at the same time when
marketing is carried out via processes of online medium then firm only have to pay the
amount for advertising that will take minimum money as this will enhance the profit
percentage that will be amplified.
 Connectivity: Organisations with the assistance of the social media along with enhanced
technologies will enable them within remaining connected with the customers that is
crucial within the specific scenario. Organisation can determine the needs of the
consumers along with their lifestyle that will certainly enable within identification of
manner in which they can carry out business activities that will further enable them
within the accomplishment of the goals in the specific frame of time.
 Brand awareness: Marketing is carried out for improvisation of the brand image of the
organisation and the specific process is essential for understanding that the firm can only

enhance the brand image. But this can be only attained when entity possess significant
awareness (Goodyear, Armour and Wood, 2018). At the present scenario, it is identified
that social media has enabled businesses within making sure that relevant information for
their customers with reference to the services and products that are being delivered.
All of these points illustrate that enhancements within the technologies have enabled firm
within performing better and this has guided them in manner the organisation formulates
business decisions in an adequate manner. By taking the appropriate decision it is critical for the
entities that peculiar aspects of the social media along with technologies have become key factor.
When technology is taken into consideration, this illustrates the manner in which firms must
conduct their operations in best probable manner. It is identified that technologies must enable to
store the information related with preferences of the consumers along with their recent searches
that are associated with offerings are rendered to their consumers. As technologies enable them
within gathering data will easily work within significant area to acknowledge the manner in
which they perform within the market for ensuring that targets as well as goals are accomplished
in adequate manner (Kizgin and et. al, 2020). Technologies enables to boost performance of the
firm that are relevant within the present scenario for ensuring sustainability within the
marketplace. From above it has been inferred that technologies as well as social media will
enable businesses within enhancement of their performance by the utilisation of efficacious
marketing approaches.
Section B
Through the assistance of examples, discuss the manner in which globalisation have influenced
region. Illustrate both positives along with the negatives of phenomena.
Globalisation is referred to as concept in which firm tends to amplify their businesses
within expansion of their businesses within the international platform for the attainment of their
goals along with the targets. Through the developments within infrastructure, it have enabled
business organisation to conduct gaols and targets within the peculiar instance of time (Jha and
Varkkey, 2017). The profit percentage of the organisation enhances when this is being carried
out at the international platforms but this becomes crucial that relevant strategies are formulated
so that affirmative outcomes can be achieved as per the requirements.

Here, United Kingdom is taken, that have the best market for conducting business
activities because of which each multinational firm tends to develop their businesses through
which goals can be attained within peculiar frame of time. Globalisation have become
efficacious for the nation as this enables firm within earning significant foreign currency that will
aid within improvisation of economic situation. In addition to this, UK is also known for
stabilised economic situations as well as the respective situation of the MNC’s will get enhanced
for performing better. There are various positives along with negatives that are related with
globalisation for the country. These have been specified beneath:
Positive influence of globalisation: Enhanced job opportunities: This is essential for understanding that when firm enters
within the new market then initial thing that will be provided by globalisation is
opportunity. Within the present scenario, economic situations of the nations must be
improvised where there exist higher percentage for the employment ratio (Khan and
Khan, 2019). With reference to United Kingdom, globalisation have enabled business
organisation to render enhanced opportunities because of which individuals can
accomplish their significant requirements. Products will be sold at lower cost: Individuals from any country will be benefitted
individually if they can have services and products at the reasonable prices that are not
apt if organisation conduct their services at the restricted ground. With reference to the
UK, concept of the globalisation will enable them within distribution of the offerings at
the reasonable prices. This will enable local public in improvisation of the living
standards. Assists within collection of higher tax rates: The nations are dependent on the tax that
they gather for commercial sector and in case if country comprises of ample of MNC’s
then there are higher percentage that will enable them within gathering more tax which
will further enable to improvise overall working (Psimmenos, 2018). With reference to
the United Kingdom, globalisation aids them within gathering significant tax percentage
as well as chances for earning foreign currency will enable them to export products
across the distinct nations. Furthermore, government will also be benefitted via a specific
concept.

 Improvises competition: When services are delivered within the market i.e. global
market, it provides them with significant chances for enhancement of the quality in
automatic manner. This is because that improvisations in the quality of products act as
key for sustaining within the marketplace. In context of UK, globalisation comprises of
forced local organisations for improvisation of quality of the products that are being
delivered at affordable prices. This implies that fair trading acts as the only options
through which firm can be competitive within the global market. Enables to have new technologies within the market: When operations are carried out at
international levels, then it leads them to have new technologies which will further enable
them to address the needs of their potential customers. With respect to UK, globalisation
will enable local investors for bringing in new technologies in business organisation
through which operations can be carried out in an effective manner. This will enable
them within rendering enhanced services for their customers.
Pessimistic influence of globalisation:
 Increase within carbon dioxide emission: There is significant influence on the
environment as when resources are over utilised then this leads to creation of stress on
the environment (Zajda, 2018). In context of UK, globalisation has created a significant
problem as carbon dioxide emitted will have negative impact on the health of population. Problem creation for the local investors: Whenever multinational firm enter within the
market, then this enhances competition level but also leads certain issues for the small
investors. In the identical manner, small investors of UK will go through certain losses as
multinational firms do not allow them to sustain in market as they have loyal and strong
customer base. This lead those to face ample of loses. No job security: Concept of globalisation will enhance job opportunities in the country
but this is not ensured that for how long they have these. This implies that there is no
surety that whether the individual will have secured future or not. Even this have become
critical cause across UK as they are not able to give their best (Jha and Varkkey, 2017).
The above aspects have specified positive and negatives associated with globalisation for
nation such as UK where organisations tends to expand their operations through which they can

reach maximum of the people and create a strong customer base for themselves. Furthermore, the
emphasis is laid on attainment of gaols as well as objectives on the day to day basis.
Conclusion
From above it can be concluded that social media have affirmative impact on the
organisations in terms of marketing and as channel for grabbing attention of multiple customers
towards services that are being delivered by them. This leads organisation to have significant
increase within the profit margin. Globalisation aids frim within expanding their operations in
different markets but also leads them to have certain assets along with restrictions. It is important
that organisation have clear understanding related with rules and regulations of the country in
which they are enhancing their functionality in order to ensure that they can sustain within the
market and attain their goals.

References
Books & Journals
Chatzigeorgiou, C., 2017. Modelling the impact of social media influencers on behavioural
intentions of millennials: The case of tourism in rural areas in Greece. Journal of
Tourism, Heritage & Services Marketing (JTHSM), 3(2), pp.25-29.
Chung, A.Q. and et. al, 2017. Managing an organisation’s social media presence: An empirical
stages of growth model. International Journal of Information Management, 37(1),
pp.1405-1417.
Drummond, C., McGrath, H. and O'Toole, T., 2018. The impact of social media on resource
mobilisation in entrepreneurial firms. Industrial Marketing Management, 70, pp.68-89.
Goodyear, V., Armour, K. and Wood, H., 2018. The impact of social media on young people’s
health and wellbeing: Evidence, guidelines and actions.
Jha, J.K. and Varkkey, B., 2017. Convergence or divergence: The impact of globalisation on
employee relations in India and china. International Journal of Employment Studies.
Khan, A.A. and Khan, M.A., 2019. Impact of Globalisation on Formal, Motivational and
Strategic HRM Practices: An Empirical Evidence from India. International Journal of
Recent Technology and Engineering, 8(4), pp.3270-3276.
Kizgin, H. and et. al, 2020. The impact of social media on consumer acculturation: Current
challenges, opportunities, and an agenda for research and practice. International Journal
of Information Management, 51, p.102026.
Psimmenos, I., 2018. Globalisation and employee participation. Routledge.
Zajda, J., 2018. Globalisation and education reforms: Paradigms and ideologies. In Globalisation
and Education Reforms (pp. 1-14). Springer, Dordrecht.