Segments in this Video

Types of Business Ownership: Sole Trader (01:16)


Sole proprietors assume all business risks. London taxi driver Nick Bell enjoys freedom, but does not have paid sick days or vacation time. Sole traders have minimal paperwork.

Partnership (01:15)

Partnerships are groups of people setting up a business to achieve joint aims and objectives. They share responsibility, skills, ideas, and investments.

Limited Company (03:33)

A limited liability company is a legal entity that can sue people, be sued, and hold contracts in its own name. InterContinental Hotels Group Corporate Affairs Head Leslie McGibbon describes updating shareholders on financial progress. Learn about flotations.

Franchises (02:26)

A franchise entails buying into a brand, buying the right to own and operate a unit within an organizational network, and following that organization's rules. Franchisees avoid the mistakes of starting a business, but are not allowed to make changes.

Business Functions (04:33)

Tourism companies like the Marriott Group have finance for management accounting and budgeting; human resources for recruitment and training; operations; executive strategy for group branding; and marketing for brand development, communication, and customer relations. McGibbon outlines the IHG management and operations structure.

Organizational Hierarchy (02:26)

Organizational structures are typically portrayed as pyramids with CEOs at the top and employees at the bottom. Learn about the chain of command and span of control.

External Pressures and Industry Reports (08:58)

Political factors impacting the tourist industry include deregulation, international security, and infrastructure policy; economic factors include the credit crunch, international exchange rates, and inflation; social factors include ethics, sustainability, cultural exchange, and global travel demand; and technological factors include transport infrastructure, ICT, and social media.

Business Opportunities and Growth (04:51)

The travel and tourism industry attracts entrepreneurs. Growing organically requires generating new customers and sales from within. Inorganic growth entails acquisitions, mergers, and diversification. International companies like hotel groups create global brands; airlines form strategic alliances for economic protection.

Planning (03:30)

Mission statements describe a company's vision; Amanda Marks explains Tribes Travel's code of ethics. Aims are identified objectives. Success is measured by achieving aims like increasing turnover, increasing net profit, growing market share, increasing shareholder value, or achieving investment.

Credits: Travel and Tourism Business Environments (00:51)

Credits: Travel and Tourism Business Environments

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Travel and Tourism Business Environments

DVD (Chaptered) Price: $49.95
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3-Year Streaming Price: $49.95



Many factors make up the environment in which businesses and industry operate. This film explores a range of these factors applying to the travel and tourism industry. A range of interviewees from business, industry peak bodies, and universities provide a comprehensive and informative overview of the types of business ownership, business functions, external pressures and industry reports, business opportunities and growth, and planning. Street interviews are also featured. It is an ideal learning resource for students of tourism and travel.

Length: 34 minutes

Item#: BVL129206

ISBN: 978-1-64198-354-9

Copyright date: ©2013

Closed Captioned

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Not available to Home Video customers.