Sunday, January 26, 2020

Competitors Of Tui Based On Market Share Tourism Essay

Competitors Of Tui Based On Market Share Tourism Essay The task of the following assignment is taking a strategic fit for a package holiday company. A package holiday company is defined as one that offers minimum of travel and accommodation in a single package. One company that operates internationally and offers minimum package of travel and accommodation is TUI Travel. TUI is the worlds leading international leisure travel company operating in four different sectors (tuitravelplc.com) The main competitors of TUI based on Market share are: Carlson Wagonlit Travel Thomas Cook plc. Travelport Ltd Vision Statement Our vision is Making Travel Experiences Special (tuitravelplc.com) TASK A: Market Environment Analysis In order to analyse the market environment proper analytical tools should be chosen: PESTLE Analysis for Macro Environment Porters five forces for Micro Environment PESTLE Analysis Political Factors Changes in the taxation policy of the government in UK, such as increase in VAT percentage by 2.5% may have a negative impact on inbound tourism in UK as the prices of commodities will rise. Also, 24% Britishers claim that increase in VAT will also lead to expensive staycations (Casal 2011) Unstable Political environment can seriously impact the tourism industry of a nation as the travelers fear for their safety and tend to avoid that nation. Such as recent Political uprising in mid east has lead to 50% cancellations in Arab nations (Zablit 2011). Security and safety concerns have major impact on tourism industry. Terrorist attacks of 9/11 in US led to 10% fall in demand for travel and tourism (Bennett and Barry n.d.). Such attacks also raise a question on national security of the country and dampen the tourists confidence. Economic Factors Recession: UKs plan to emerge out of recession may just be stretched further as the recent political uprisings in Middle East and disaster struck Japan may have prolong effects on the world economy, affecting the tourism industry as well. In measures to keep household budgets low, families are looking into more of domestic shore holidays, also stated as staycations. In year 2009 there was a decrease by 14% in overseas holidays in UK, whereas the domestic shore market rose by 5% (Mintel Report 2010). Currency Fluctuations: In the year 2008 there was resistance amongst the US visitors for the UK due to strong Pound. Against the dollar, Pound was at two-year low. (Ashby 2008) Looking at the table 1, which shows Dollar strengthening against the pound in the recent years, may attract tourists from US. Furthermore, strengthening of Euro and Dollar can be stated as a cause for escalated interest in staycations and a concern for outbound tourism from UK. Table 1: Currency Prices for last 5 years, with base currency being Pound ( £) (Source: XE.com) Fuel Prices: Year Euro Dollar 2006 69 p 57p 2007 68p 51p 2008 76p 49p 2009 92p 71p 2010 90p 66p The Oil prices rose to $120 per barrel in February 2011 due to political uprising in Middle East and have left airlines worried. International Airlines Group has decided to cut back by flying less often. IAGs CEO said if the fuel prices do not recede the ultimate effect would be on fares (Milmo 2011). This would lead to increase in packaged holidays prices. Social Factors: Demographics: Mintel report 2009 suggests that the decline in average households is projected to continue whereas 5% growth in 1-3 person households. It states about 48% of 1 member family went on a holiday as compared to 68% of marries, 60% of three person and 70% of four households. (Mintel Report 2010) Table2: Showing % change in households in UK. (Source: Mintel Report 2010) By 2031 it is projected that the single households (mainly people over 55) will comprise of 18% of the total households in UK. Therefore it would be a major market for the package operators (Communities 2009) Health concerns. 2004 2009 2014 % Change % Change M M M 2004-09 2009-14 One-person households 7.6 8.35 8.8 9.9 5.4 2 person 8.96 9.54 10.02 6.5 5 3 person 3.95 3.97 4.15 0.5 4.5 4 person 3.3 3.31 3.33 0.3 0.6 5+ person 1.67 1.65 1.64 -1.2 -0.6 Total households 25.48 26.81 27.93 5.2 4.2 Continued concerns over health and hygiene are seen amongst UK residents. The outbreak of Foot and Mouth disease in year 2001 led to 16% fall in visitor expenditure in UK leading to negative images of Britain as a holiday destination (Pasty 2003). But, with the upcoming Olympics 2012 and Royal Wedding in 2011 will lead to high volume of tourists visiting UK. Ageing Population. As per the National statistics organization (2010) there were one in five people of retirement age in the UK. As the population is ageing there will be an extra cost for the companies who offer pension schemes to their employees so that their staff lives longer (Oxford University Press 2007). Technological Factors Internet: In UK there were 20 million Internet subscribers out of 27 million households. High Level of Internet penetration is a key contributing factor to online travel retailors performing better. Online sales of travel retail product represented 34% of the total sales. This also has led to fierce competition amongst the players as the customers are looking for cheap vacation packages, third most important factor when selecting holiday package (Euromonitor) Better Technology: Latest technology advancements in sectors such as engineering, airline industry, transport, infrastructure etc. such as coming of luxury passenger planes such as Airbus A380 and Boeings 787, Eurostar via Eurotunnel have made cross border travel easier and swifter than ever. Legal Factors Emissions Trading Scheme: This scheme was presented in the year 2003 for EU in-order to curb carbon emission. In 2008 amendments were made to this scheme, including the aviation activities as well. It means the aircraft operators will be subject to a cap and will have to pay allowance to cover their emissions. This could have an upward impact on the prices of holiday packages (Euro Monitor). Open Skies Agreement: Signed between EU and US in the mid 2008 allowing and airline from the EU or the US to any place between EU and US. (Euro Monitor) This allows the customers to fly with their choice of airline and thus can help reduce costs because of competition amongst the operators. Environmental Factors Ethical Consumerism The Ethical Purchasing Index states that the ethical purchasing has grown phenomenally with total market valued at  £30million. Eco Holidays, Fair trade holidays have experienced exceptional growth due to the rasing concern regarding the environment amongst the people (Mintel Report 2005). Green Initiatives: In todays world it is impossible for the travel and tourism industry to ignore the growing concerns over environment. In a survey in year 2002, 85% of the people said it is important their vacation does not hamper the environment. Due to this fact the package operators are aligning themselves to become environment friendly (Euro Monitor). Such as Thomas cook has now started to highlight about their services meeting responsible tourism criteria (Mintel Report 2005) Porters Five forces: Competitive Rivalry The four major players in the market (Thomson, MyTravel, First-Choice and Thomas Cook) have, for number of years, jostled each other for bigger market share and profits have proved to be volatile (Evans et al, 2003). The major package holiday players target different segments in the market such as, offering luxury vacations, adventure vacations etc. with some uniqueness as well. Package operators such as Thomson introduced their own low cost airline- Thomson fly and dynamic packaging where customers can book their accommodation and flights separately (Lueck 2005) The level of customer services affect when choosing a company, if one offers better customer service than others it helps in retaining customers. Therefore there is intense rivalry in the industry Threat of New Entrants: The total expenditure on holidays is expected to rise by nearly 22% in 2014 from 2004(Mintel report, 2010) making the tourism industry attractive one because of the market size. Yet, high level of capital investment required targeting larger audience and the need to differentiate acts as a barrier to entry. And to add, top 10 companies control 70% of the market. This reduces the price retaliation and keeps the economies of scale high. Findings from Mintel report (2010) states Brand awareness plays an important role in package holiday industry and thus can act as a barrier. Therefore threat of new entrant is low. Threat from Substitutes: Holidays can have direct as well indirect substitutes, such as instead of spending couple of pounds on a weeks vacation people might spend same amount of money on buying a car or towards house extension. Therefore threat from substitutes if moderate. Bargaining Power of Suppliers: Supplier can have high negotiation power over the companies having small market share, but in a market where 4 major players control over 50% of the market there is threat of backward integration. Therefore the bargaining power of the suppliers is low Bargaining Power of buyers: Customers today have the option to book their holidays over the Internet they eye to fetch cheap deals. Regards to this the customers have more choices. But, due to low level of differentiation and lesser substitutes make the bargaining power moderate. Critical Success Factor New Destinations: As per the Mintel report (2010) visiting a new destination has seen highest growth in terms of percentage, 12%. Places that have hot weather, beaches, landscapes, cultural heritage are a major hit amongst various demographics. Therefore in order to have larger market share it is important for the package operators to continuously look to update their offering of destinations. It is important for the tour operators to offer short and medium haul holidays destinations and domestic places for vacations, as it is the growing market as per the current statistics. (Mintel Report 2010) Convenience: In todays technologically advanced world where most of the population is the subscriber to Internet, it is important for travel agents to offer the customers with online booking facility. In UK itself out of 27 million households 20 millions are the Internet subscribers (Euro Monitor). Mintel report (2010) states there was nearly 20% growth in online booking, way more than any other method of booking holidays. Also, a company should be easily searched over the Internet. Therefore the companies should optimize their websites to reach larger audience. Brand Value: It is important to persuade customer to buy package holidays. Here, brand comes into the picture. The recent volcanic eruption helped the package operators build on their brand image and capitalizing on what could happen if independent holidays are booked. Green initiatives: The growing concerns for the environment amongst the customers (see Environmental factors in PEST) have made travel operators take stock of the growing concern. Thomas cook has now started to highlight in their brochure that their services meet the responsible tourism criteria. (Euro Monitor)

Saturday, January 18, 2020

Met 101 Ch 5 Focuus

SCI 100 – Meteorology: Chapter 5 Focus Questions and Topics to Study Comprehensively describe the â€Å"adiabatic process†? (Hint: see Fig. 5. 2 on page 119) Explain why the moist adiabatic rate and dry adiabatic rate are different. List and describe the ways, both at the surface and aloft, the atmosphere be made more stable. List and describe the ways, both at the surface and aloft, the atmosphere be made more unstable. Chapter 5 Questions and Topics to Study (cont’d)There are three main classifications of atmospheric stability. Describe the one known as â€Å"conditionally unstable† and relate it to cloud growth. Explain why an inversion represents a very stable atmosphere. What (general) type of clouds would you expect to see†¦ †¦ in a stable atmosphere? †¦ in an unstable atmosphere? List the four primary ways clouds form, hence the four lifting mechanisms, as seen on Fig 5. 10. Chapter 5 Questions and Topics to Study (cont’d) Desc ribe the process of convectional lifting.Describe the process of orographic lifting using the classic â€Å"wind over the mountain† example. Be sure to understand why it is warmer and drier on the leeward side of some mountain ranges. Know the main aspect of the collision & coalescence precipitation process. Know the main premise of the ice-crystal (Bergeron) precipitation process. Chapter 5 Questions and Topics to Study (cont’d) Know the difference between freezing rain and sleet, including the type of lower atmosphere that can produce each of these types of winter precipitation. Hint: See Active Figure 5. 32 on page 139) How does Doppler RADAR measure the intensity of precipitation? Chapter 5 Additional Key Terms and Concepts Accretion (riming) Aggregation (snowflake) Cloud Seeding (main premise) Chapter 5 Additional Key Terms and Concepts (cont’d) Condensation Level (Lifting Condensation Level or LCL) Environmental Lapse Rate Graupel (Snow Pellets) Subsidence Inversion Supercooled (water droplet) Virga

Friday, January 10, 2020

A Startling Fact about Essay about Extracurricular Activities Samples Uncovered

A Startling Fact about Essay about Extracurricular Activities Samples Uncovered For instance, you can work on your extracurricular activity one or two times weekly. There's also the additional benefit of working for the frequent good. If you are in possession of a distinctive interest in something which you can't locate a neighborhood group for, think about creating one or join a national group. For instance, you might say. While extracurricular activities are intended to be fun, they also are a means to develop valued by employers. Literally any avocation or activity you own a passion for can be become a killer extracurricular activity, you merely must give it some moment, love and energy. The advantages of extracurricular activities can enhance an adolescent's quality of life in many ways. One of the most significant benefits of extracurricular activities is that they provide an opportunity to develop and master skills in an enjoyable and relaxed environment. You should demonstrate how you've acted on your interests and produced a tangible positive effect on your community. The researcher may find some respondents to receive some information that may be great foundation for the research. You may use completely free sample research papers on extracurricular activities for greater mastery of the topic. Include that, together with the project effects. As you search for the best schools for your children, there are a couple things to focus on. Additionally, guarantee that the locations you're researching offer plenty of resources for students. Bear in mind that there can be a great deal of unique outlets for each interest you've got. It's possible to communicate with different people having the identical interest on the internet, and attend meet-ups throughout the year. The Ugly Side of Essay about Extracurricular Activities Samples There are just a few characteristics of the college application where you really have the capacity to make yo urself different. The analysis was created to establish if there was a substantial difference in grade point average between students involved with extracurricular pursuits and students not involved in extracurricular pursuits. There are at least hundreds of thousands of students applying to colleges in the US every year. In some, it's needed for students to get a minumum of one extracurricular activity they can be part of. These additional activities are somewhat more beneficial whenever the children are enrolled in it sooner. Extracurricular activities help students gain experience in various areas that will boost their future. With so many choices out there, all students ought to be able to discover an extracurricular they want to know more about and can develop a passion for! Not all students share exactly the same ability to find work done in a specific period. Furthermore, the paper might not be the sole literature the university publishes. It's the first thing happens if a student has to address activities too. The study also has a selection of age groups, from the center school to the high school level. Recent studies demonstrate that teenagers face a scarcity of confidence when they think that they are good at nothing. Most Noticeable Essay about Extracurricular Activities Samples Thus, it's still another boon of such pursuits. Opportunities in governance might not be as numerous as you want, but they ought to be sufficient if you're in the custom of being involved in numerous pursuits. There's no greater time to come up with your leadership skills than in college with extracurricular pursuits. You will need to reveal you are able to take initiative and enhance the community across a range of fields. Skill development contributes to confidence, which then results in higher self-esteem. As you see, there's a plethora of extracurricular pursuits that could allow you to develop your leadership abilities. There are lots of possibilities out there that may help you develop your leadership abilities. It may also be beneficial for your career prospects, especially in the event you prove your capability in some specific places. Extracurricular activities come together with their own expenses too. They are activities within the scope of the regular curriculum. Extracurricular activities are among the subsystems of training approach. They are also a good way to learn appreciation for new and different activities.

Thursday, January 2, 2020

Financial Panics of the 19th Century

The Great Depression of the 1930s was called great for a reason. It followed a long series of depressions which afflicted the American economy throughout the 19th century. Crop failures, drops in cotton prices, reckless railroad speculation, and sudden plunges in the stock market all came together at various times to send the growing American economy into chaos. The effects were often brutal, with millions of Americans losing jobs, farmers being forced off their land, and railroads, banks, and other businesses going under for good. Here are the basic facts on the major financial panics of the 19th century. Panic of 1819 The first major American depression, the Panic of 1819 was rooted to some extent in economic problems reaching back to the war of 1812.It was triggered by a collapse in cotton prices. A contraction in credit coincided with the problems in the cotton market, and the young American economy was severely affected.Banks were forced to call in loans, and foreclosures of farms and bank failures resulted.The Panic of 1819 lasted until 1821.The effects were felt most in the west and south. Bitterness about the economic hardships resonated for years and led to the resentment that helped Andrew Jackson solidify his political base throughout the 1820s.Besides exacerbating sectional animosity, the Panic of 1819 also made many Americans realize the importance of politics and government policy in their lives. Panic of 1837 The Panic of 1837 was triggered by a combination of factors including the failure of a wheat crop, a collapse in cotton prices, economic problems in Britain, rapid speculation in land, and problems resulting from the variety of currency in circulation.It was the second-longest American depression, with effects lasting roughly six years, until 1843.The panic had a devastating impact. A number of brokerage firms in New York failed, and at least one New York City bank president committed suicide. As the effect rippled across the nation, a number of state-chartered banks also failed. The nascent labor union movement was effectively stopped, as the price of labor plummeted.The depression caused the collapse of real estate prices. The price of food also collapsed, which was ruinous to farmers and planters who couldn’t get a decent price for their crops. People who lived through the depression following 1837 told stories that would be echoed a century later during The Great Depressio n.The aftermath of the panic of 1837 led to Martin Van Buren’s failure to secure a second term in the election of 1840. Many blamed the economic hardships on the policies of Andrew Jackson, and Van Buren, who had been Jackson’s vice president, paid the political price. Panic of 1857 The Panic of 1857 was triggered by the failure of the Ohio Life Insurance and Trust Company, which actually did much of its business as a bank headquartered in New York City. Reckless speculation in railroads led the company into trouble, and the company’s collapse led to a literal panic in the financial district, as crowds of frantic investors clogged the streets around Wall Street.Stock prices plummeted, and more than 900 mercantile firms in New York had to cease operation. By the end of the year the American economy was a shambles.One victim of the Panic of 1857 was a future Civil War hero and US president, Ulysses S. Grant, who was bankrupted and had to pawn his gold watch to buy Christmas presents.Recovery from the depression began in early 1859. Panic of 1873 The investment firm of Jay Cooke and Company went bankrupt in September 1873 as a result of rampant speculation in railroads. The stock market dropped sharply and caused numerous businesses to fail.The depression caused approximately three million Americans to lose their jobs.The collapse in food prices impacted Americas farm economy, causing great poverty in rural America.The depression lasted for five years, until 1878.The Panic of 1873 led to a populist movement that saw the creation of the Greenback Party. The industrialist Peter Cooper ran for president on the Greenback Party ticket in 1876, but was unsuccessful. Panic of 1893 The depression set off by the Panic of 1893 was the greatest depression America had known, and was only surpassed by the Great Depression of the 1930s.In early May 1893 the New York stock market dropped sharply, and in late June panic selling caused the stock market to crash.A severe credit crisis resulted, and more than 16,000 businesses had failed by the end of 1893. Included in the failed businesses were 156 railroads and nearly 500 banks.Unemployment spread until one in six American men lost their jobs.The depression inspired Coxeys Army, a march on Washington of unemployed men. The protesters demanded that the government provide public works jobs. Their leader, Jacob Coxey, was imprisoned for 20 days.The depression caused by the Panic of 1893 lasted for about four years, ending in 1897. Legacy of 19th Century Financial Panics The economic problems of the 19th century periodically caused pain and misery and it often seemed that the federal and state governments were powerless to do anything. The rise of the progressive movement was, in many ways, a reaction to earlier financial panics. In the first decades of the 20th century financial reforms made economic collapses less likely, yet the Great Depression showed that the problems could not be easily avoided.