Resource Management Report: Analysis of Expat Explore Travel Company

This report provides a comprehensive analysis of resource management within the context of Expat Explore Travel, a UK-based travel and tour company. The report begins with an introduction to resource management and its importance, followed by an overview of Expat Explore Travel's current business situation, including its vision, objectives, and environmental factors, analyzed through PEST and SWOT frameworks. It then delves into the company's human resource and operational functions, including resource planning, recruitment, and development. The report also explores the theoretical applications of resource management, including the resource-based theory and its relevance to Expat Explore Travel. Finally, it evaluates the company's resources and offers conclusions regarding effective resource management strategies for sustainable business growth. The report emphasizes the importance of human resources and their impact on the effective utilization of all other resources, especially in the context of a cost leadership strategy.

Resource Management

Table of Contents
Resource Management.....................................................................................................................1
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Small Business Current Situation................................................................................................3
Human Resources and Operations Functions..............................................................................7
Theoretical Application...............................................................................................................9
Evaluation of Resources............................................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Resource Management refers to efficient and effective development of resources of a
organisation when they are needed. These resources are financial, Human Resources, inventory,
technological and natural resources. There are various reasons which require company to manage
resources and one of the most important reason is that without adequate resources company will
not be able to complete its operations. Human resource management is also an important
resource of the company and it takes responsibility of using all other resources of the
organisation. This report will discuss various aspects of resource management in context of
Expat Explore Travel this is a travel and tour company and is located in London, UK. Style of
tours which are provided by Expat Explore Travel are cultural and for this company employs
various cultural experts and competent tour managers. Strategy of company is low cost strategy
that company’s services are affordable. Expat Explore Travel offers its tours in UK and
European countries.
MAIN BODY
Small Business Current Situation
Expat Explore Travel is a tour company and major resources which are required for
operation of this company are human resource which means company have to hire employees so
that they can manage its work effectively (Mansoori and Lackéus, 2019). In material resources
company requires buses to ensure safe and comfortable travel of its customers. Another resource
required are technological resources so that company can manage all its work through
technological and information technology resources. And to ensure availability of all these
resources one of the most important resources are financial resources. A business plan for Expat
Explore Travel and resources require for that is as follows-
Business Plan of Expat Explore Travel
Vision
Travel made possible and to make travel fun, convenient and affordable.

Objectives
 To increase Market share to 15% by the end of current financial year.
 To decrease cost of operation to 5% in current financial year.
Analysis of Environmental Factors
Business plan significantly include analysis of environmental factors are of two types which are-
External Environmental Factors
This can be analysed through PEST Analysis Framework.
Political
This factor includes impact of political impact and majorly includes various rules and regulations
which impact business and its operations. Expat Explore Travel needs to analyse and identify
various regulations which can impact its operations (Ferreira, Loiola and Gondim, 2017). These
are transportation regulations and safety regulations of customers during travel and along with
this Expat Explore Travel also have to identify those regulations which it needs to follow while
travelling.
Economic
Economic factor includes various policies like taxation policies and tax which Expat Explore
Travel are required to pay during travel. In case these taxes are high this may increase the overall
price of cost of service of Expat Explore Travel. This also includes interest rates and cost that
Expat Explore Travel has to pay for its finance and capital.
Social
Expat Explore Travel is a company and its travel style is cultural. This requires company to
focus on those people who are interested in cultural travel. This requires to target people of a
particular age and those who are interested in exploring various cultures or are in particular
education background which might attract them for cultural travel. Company for this purpose
have to ensure that its operation are according to that and company hire experts in various

cultures so that they can share knowledge with people on their travel and also before that they
can advise people to where they should go according to their area of interest.
Technological
Best use of technology for Expat Explore Travel is in context of marketing and promotion of
company (Kepczynski and et.al., 2018). Online and social media marketing is possible through
technology use and company can also increase efficiency off service by use of technology like
online information of its travel plan and offers. Technology is also required in its transport
facilities so that people can have high quality of travel and this also helps in building image of
the company.
SWOT Analysis of Expat Explore Travel
This framework helps in analysing internal environment of Expat Explore Travel.
Strength
 Experts and knowledge of various cultures (as travel style of Expat Explore Travel it is
very important for it to have experts and expertise knowledge in various cultures and this
is one of the strength of Expat Explore Travel).
 Effective resources and transport facilities (confortable and safe transport facilities are
important consideration for travellers and Expat Explore Travel is able to provide that
making its strength).
 Effective alliances with hotels and locals
 Available choices for tour (for travellers there are various choices available with Expat
Explore Travel and they can choose any one them according to their taste and
affordability) (Alves, 2019).
 Availability of tours for all age groups from 10 years to 90 years (Expat Explore Travel
have travel options for all age groups and this increase its travellers).
 Affordable travelling and attracting offers (Expat Explore Travel provide affordable
travelling to its customers and along with that it also provide attractive offers like it is
much cheaper for those who book their travellers early).
Weakness

 Limited to culture travel (young people now a days are more interested in adventure
travel and in such case Expat Explore Travel only provides culture travel).
 Unavailability of 5 star accommodation (Expat Explore Travel is preferred by those with
limited budget and average facilities people willing 5 star hotel will not come to Expat
Explore Travel).
Opportunity
Natural and adventure, activities and festival travel (Expat Explore Travel can utilize this
opportunity by starting its travel in adventure and natural style and in activities and at the time of
festivals).
Opportunities in international tours outside Europe
Threat
 Competition from national and international companies (there are various competitors in
tour industry and these are not just from London or UK but they are also from
international companies) (Herrera and de las Heras-Rosas, 2020).
 Political uncertainties (Brexit according to which UK is not a member of European Union
and Expat Explore Travel being a UK company might face some regulative threats from
others countries of Europe).
To select Strategic options in expansion of business Porter’s Generic Strategies can be applied-
These strategies are based on scope and competitive advantage that company can have,
differentiation advantage and cost advantage and in context scope its scope is narrow and broad.
Cost Leadership (Broad Scope and Cost Advantage)
This strategy is adopted when company is able to focus on broad scope and at the same time
keep its cost low in the industry.
Differentiation (Broad Scope and Differentiation Advantage)
This strategy is useful for companies and companies which are able to differentiate its services
and products and at the same time focus on broad scope.

Cost Focus (Narrow Scope and Cost Advantage)
This is also a form of cost leadership but this strategy is applied by company on limited number
of people and this strategy is limited to limited market (Burton, Fairlee and Siegel, 2019).
Differentiation Focus (Narrow Scope and Differentiation Strategy)
This Strategy is used like differentiation strategy but in this strategy differentiation is appled to
limited number of market and limited number of people.
Strategy for Expat Explore Travel
The Strategy that Expat Explore Travel can use is cost leadership. Expat Explore Travel already
have low cost strategy and through resource management this will be improve and Expat Explore
Travel can expand its services using this strategy.
Resources Required
 Financial resources
 Material Resources
 Human Resource
Analysis and Evaluation
Objectives which have been determined are criteria of success for the plan. Expat Explore Travel
can also measure its success from individual respective resources (Cheah, Amran and Yahya,
2019). In relation with this its resources like Finance, Human Resource and Technology have
their own objectives and Expat Explore Travel can measure its success against all these
objectives.
Human Resources and Operations Functions
In relation with its Human Resources company needs to have experts in the culture and at
the same time Expat Explore Travel also needs to employ competent and efficient travel
managers. One of the strength of Expat Explore Travel is that it employ competent and efficient
travel managers and cultural experts. Company can use this expertise by increasing efficiency of

its employees and travel managers and this requires company to employ effective practices of
motivating employees.
In relation with its operational functions Expat Explore Travel are organising travel and
tours. The process of this starts with company planning its travel (He and et.al., 2019). This is
first step in operations and this planning requires considering various factors and one of the
important factors is customers and travellers. Another factors are resources which are available
with Expat Explore Travel.
Resources which are available to Expat Explore Travel are its assets and this became
possible for organisation to achieve its success only when they are able to use these resources
effectively. This is why Expat Explore Travel needs to manage its resources so that it can get
most effective results on its investments. This is more important for Expat Explore Travel
because this company is working on cost leadership strategy for its business expansion. Human
resources in this plays major role they can use all the type of resources and also with their
efficiency they are able to reduce cost of operations of Expat Explore Travel.
Planning of Resources Required
Operations activities require various resources and resources are also required so that
company can achieve its objectives.
Firstly resources are required to plan in order to their quality and quantity. Human resources are
required to plan in their required number and what skills and qualification for human resource is
required (Chen and et.al., 2016). This will guide further process of planning resources.
After this resources are required to achieve and in relation with Human Resources this is known
as recruitment and Selection.
Short term goals require that company develop its internal people but in case of long term goals
Expat Explore Travel can recruit new employees.
In this stage company needs to ensure that all the candidates it select are competent and have
required skills and experience. This will help in their further development. According to this
once employees have been hired in the organisation next step of resource planning is developing

resources. Expat Explore Travel needs to give training to its employees so that they can become
resource and asset for the organisation from employees (Uhm, Sung and Park, 2018). This is the
planning for human resources but for achievement of organisational goals it needs to plan other
resources as well.
When they are for long term than they should be according to the need and how much and what
type of resources company will require in order to achieve its objectives.
The process for this starts from planning resources, then after proper analysis they are required to
be acquired and later they are required to be developed so that company can achieve all its
objectives.
Theoretical Application
In relations with theories of Resource Management theories of Human Resource
Management is being as they are most significant resource which is available to any
organisation. This is very important that company can utilize its human resource effectively.
Through effective management of its human resource Expat Explore Travel will be able to
effectively utilize all its other resources (Mathauer and et.al., 2020). To ensure that its human
resources is able to use all other resources of company and perform to their very best level
company needs to motivate its employees.
Resource based Theory
Resource based theory includes analysis of firms resources on four basis of four elements these
are, valuable, rare, Inimitable and organised.
On the basis of these elements resources of the firm needs to be valuable, these means that
human resource that Expat Explore Travel employs should be valuable and their expertise should
be something that they are able to create and add value to company and its operations.
Rare, this refers to something that is available to only one organisation and others cannot acquire
and achieve such resources (Abdullah, 2017). Though human resources are not something which
is rare but Expat Explore Travel can make them rare and capable that they can prove rare for
company. This is possible through applying various theories of motivation and making them

capable of performing to their best that such employees are only available to Expat Explore
Travel.
Inimitable, refers to those resources which are costly to imitate and companies cannot imitate
those resources easily. Human resources are not inimitable.
Organised, means that they should be properly coordinated with other resources to support them
and only them they can perform well (Ferreira Teixeira and et.al., 2019). This means that
employees at Expat Explore Travel are required to give all the required resources so that they not
face any difficulty while performing. These resources are informational resources and
materialistic resources.
Expat Explore Travel can apply and employ this theory related to its resources then company
will be able to not just maximise its resources but also will be able to gain competitive advantage
through its resources.
From resources to capabilities, resource based theory also stress importance that resources
which are valuable, rare, inimitable and organised are able to be capabilities of the firm.
Capabilities of the firm are those factors which ensure its success and achievement of all
determined objectives. All the firms do have their own capabilities and so does Expat Explore
Travel. They can change and make their human resources a capability for the company.
Along with being valuable, rare, inimitable and organised human resources of the firm should
have some more characteristics which are visible through their performance for the organisation.
Human resources of the organisation should be motivated, loyal and engaged with their job
(Hazra, Fletcher and Wilkes, 2017). Motivation is one of the most important and basic
requirement for human resources so that they are able to perform for their job and contribute to
success of their organisation. Motivation later build loyalty in human resources at this stage
human resources are able to feel belonged to their company and are willing to best in favour of
their company. This loyalty results in engagement of the employees with their job. In this when
employees are motivated they are valuable for the company. employees when are loyal for Expat
Explore Travel they became rare and when they are engaged with their job because of their

loyalty they become inimitable resources for the company and these later converts into
capabilities for the organisation.
Evaluation of Resources
Financial Resources
Financial resources are most important resource and other resources are availed through
this resource. In relation with management of financial resources firstly resources are acquired
for acquiring financial resources some of the methods are acquiring finance from financial
institutions, banks, company’s own finance etc (Pham, 2018). These are managed through
accounting and budgeting. This is most important resource and company’s main objective is to
get best return on the financial resources it invests in acquiring other resources and managing
these resources. Accounting helps in calculating what are the expenses and what company earn
and gets in return, budgeting helps in ensuring an estimate expense for the business in a fixed
period of time.
Expat Explore Travel can improve its financial resources plan with help of budgeting.
This gives an estimate to the company about its expenses and its gains.
In business plan objective of finance resource is to develop better financial planning and improve
budgeting which can accommodate planning for reduction of cost. This will contribute to
business objective of reducing cost of operations of Expat Explore Travel.
Human Resources
Expat Explore Travel invest its finance on various operational activities and this is the
effectiveness and efficiency of its human resources to what extent they are able to give best and
most return to its investment. In relation with its current position in human resources company
employs human resources for its operations. Company employs human resources who have
expertise in travel and tours as this is the main and core business activity of business.
To manage this resource effectively and ensuring best return on this investment company
needs to have best human resources and this is possible through effective and efficient
recruitment and selection policy (Abdullah, 2017). There are various approaches for this and

company can chose best fit approach for its recruitment this will help in recruiting candidates
which are best fit to its culture and environment and needs of Expat Explore Travel.
Objective of this resource is that Expat Explore Travel can have best employees this is important
and through this objective Expat Explore Travel will be able to achieve all its objectives in best
possible way.
Technological Resources
Expat Explore Travel as it is operating at small level does not need important
technological resources for its corporate operations but for its business operation in which it need
transport facilities and they are required to be technologically sound so that it is able to give its
customers effective and efficient services.
Another way where they need and use technology is for providing online services and for
online and digital marketing of business. This is important so that they can increase their
visibility and enhance quality of service.
Objective of this resource is to improve effectiveness of other functions and use in best possible
way so it can increase its market reach and increase its visibility (Mathauer and et.al., 2020).
Expat Explore Travel also seek to improve technology and employ best technology in its
transport facilities so that it can give qualitative service to its customers.
CONCLUSION
On the basis of above analysis it can be concluded that resources are those important
factors which enable company to achieve its objectives and complete all its operations
successfully. This is not possible for company to execute anything in case there are no resources
available to the company. This report discussed various resources which are required for
completion of organisational tasks and achieve organisational resources. Later this report
included plans for resources and theories related to resources. Theories suggests what companies
can do to change its resources into capabilities to achieve its objectives and gain competitive
advantage.

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