Business Report of A Travel Business Assignment Sample

Introduction

The range and types of jobs within the Tourism Services Industry in the UK

The UK's tourist services sector provides a wide variety of occupations, professions, and business ventures. Here are a few instances:

• Tour companies: These businesses plan and offer pre-packaged trips and vacations(O'Reilly, 2020).
• Travel agents: Travel agents offer individualised planning and reservation support.
• Tour guides: These experts offer on-site direction and commentary during sightseeing tours (Hsu et al., 2021).
• Sightseeing Tours: Companies that offer sightseeing tours arrange for guided tours(Pike, 2020).
• Travel Desks: Travel desks are located in hotels or transportation hubs and help travellers by purchasing tickets (Fletcher,2018)

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The idea for owning new business within Tourism Sector

I propose a new business within the tourism sector that focuses on eco-friendly adventure tours. The company would offer guided tours to unique natural and cultural destinations in the UK, with a strong emphasis on sustainability and responsible travel practices. The head office and service outlet could be located in a city like Bristol, known for its vibrant eco-conscious culture and proximity to diverse natural landscapes. This idea is interesting to me as it combines my passion for travel and exploration with a commitment to environmental conservation and promoting sustainable tourism practices(Fullen,2006)

A company or other entity that engages in commercial, industrial, or professional activity in order to make money is said to be in business. Business research is the methodical exploration and analysis of business-related topics with the goal of offering insights, resolving issues, and helping people make well-informed business decisions.

• The aims and objectives of the report are :
• To identify proper stakeholder for the business
• To do a complete market research
• To create a proper business strategy
• To do a PESTLE analysis

Stakeholder analysis

a.) Internal analysis

Internal stakeholders are individuals or groups within a company who have a direct interest and influence on its operations and success. In the context of my proposed of your guide, the internal stakeholders would include:

The CEO will be in charge of overall strategy planning, financial management, and stakeholder coordination within my management plan. Customer service, logistics, and tour planning will be under the management of the operations manager. The finance manager will be in charge of financial planning, budgeting, and reporting, while the marketing manager will create and implement marketing strategy.

b.) External Stakeholders

External stakeholders are people or organisations from outside the firm that are interested in or impacted by the business' activities and results.

Market research

a.) Definition of market research

The systematic collection, analysis, and interpretation of data and information on a particular market, including its clients, rivals, and market trends, is known as market research.

b.) Potential clients

Figure 1: Forecasted Visitors

c.) Specific need

Unique and immersive cultural experiences are specifically needed, wanted, and demanded in the local market of Bristol, UK. The popularity of guided tours that provide in-depth understanding of the city's history, architecture, and customs is evident from word-of-mouth and internet evaluations. Both tourists and locals are looking for genuine and lasting experiences that go beyond the superficial charms. By providing specialised cultural tours guided by skilled guides who can provide insights, tales, and engaging experiences, our tour guide business will meet this demand.

Figure 2: Bristol cityscape

Source: (Fernandez-Ruiz & Holgado-Tello, 2021)

Our tours will respond to the need for real cultural immersion, meeting the desire for a better knowledge of Bristol's rich legacy through interesting storytelling, interactive activities, and access to hidden jewels.

Figure 3: Client positive reviews

Source: (Fernandez-Ruiz & Holgado-Tello, 2021)

d.) Competitors Analysis

The process of identifying and analysing the advantages and disadvantages of possible rivals in a certain market or sector is known as competition analysis.

Business strategy

a.) Definition of business strategy

A long-term plan of action for achieving certain goals and objectives in a market that is competitive is known as a business strategy (Whittington & Scholes 2019).

b.) Short-term strategy

My company uses focused marketing efforts and alliances as one short-term tactic to raise brand awareness and draw in additional clients. I want to attract a larger audience and boost sales right away by utilising social media channels, internet advertising, and partnerships with neighbourhood influencers or related companies. In terms of control, I prefer a hands-on strategy to guarantee effective operations and uphold quality standards. In terms of creating money, I aim for long-term profitability while reinvesting in company expansion (Lamberton & Minor, 2018).

c.) Long term Strategy

One long-term strategy applied to my business is to establish strategic partnerships and expand into new markets. By collaborating with other businesses in related industries or entering into joint ventures, my business can access new customer segments and geographic locations, thereby fostering growth in the long run. This strategy allows for diversification and expansion beyond the initial target market, leading to increased market share and sustained profitability (Lamberton & Minor, 2018).

PESTLE analysis

6. Recommendation

a.) Why the business will be a success

There are various important reasons why the company will succeed.

• First, offering eco-friendly adventure tour guides is a distinctive selling proposition (Fuchs et al., 2020). This specialised approach distinguishes us from conventional travel companies and gives us a competitive edge.
• Employing tour guides that are extremely experienced and enthusiastic will also create outstanding client experiences, giving compelling tales and individualised encounters.
• Our reputation and client loyalty will increase as a result of rave customer evaluations and recommendations from friends and family (Munar & Khoo-Lattimore, 2021).
• Additionally, our strategic marketing strategies will successfully reach and draw in our target market through social media participation, focused web campaigns, and partnerships with regional businesses.
• Last but not least, our long-term plan of diversifying our services and entering new areas will foster growth. This will ensure continued success in the competitive tourist industry(Lamberton & Minor, 2018).

Conclusion

a.) Key findings

The study presented above concludes by highlighting the opportunity for growth in the field of eco-friendly adventure tour guides. The desire for distinctive and environmentally friendly travel experiences, together with the market's preference for distinctive offers and skilled tour guides, favourably positions the overall tour guide industry. While a long-term growth plan through expansion and alliances will assure continuous success, strategic marketing strategies, including targeted campaigns and collaborations, will drive client acquisition. We may proactively adjust and seize possibilities by keeping an eye on political, economic, social, technical, legal, and environmental concerns. Overall, our company is well-positioned to satisfy consumer demand and enjoy sustained success in the thriving tourist sector.

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