Business Plan: Adventure Travel International (Other (Not Listed) Sample)

Adventure Travel International
Tourism Business Plan
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Table of Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc406262676 \h 4Introduction PAGEREF _Toc406262677 \h 5Company History in MalaysiaGoals and objectives of Business plan PAGEREF _Toc406262678 \h 5Industry Analysis PAGEREF _Toc406262679 \h 6Products and services PAGEREF _Toc406262680 \h 7Growth of the industry PAGEREF _Toc406262681 \h 8Managerial Strategies in the Development of Product PAGEREF _Toc406262682 \h 9Introduction to Product Life Cycle (Plc.) PAGEREF _Toc406262685 \h 12Structure of the Industry PAGEREF _Toc406262689 \h 16Financial Growth of Tourism industry in Malaysia……………………………………………………….Importance of tourism PAGEREF _Toc406262690 \h 18Diversity in the industry PAGEREF _Toc406262691 \h 19Competitive advantage of the industry PAGEREF _Toc406262692 \h 20The Current environment – challenges and opportunities PAGEREF _Toc406262693 \h 20Marketing mix PAGEREF _Toc406262694 \h 22Tactical Plan PAGEREF _Toc406262695 \h 25Human Resource Management PAGEREF _Toc406262696 \h 26SWOT analysis PAGEREF _Toc406262697 \h 28Recommendations PAGEREF _Toc406262698 \h 30Conclusion PAGEREF _Toc406262699 \h 31References PAGEREF _Toc406262700 \h 32
Executive Summary
This Business plan is based on the Adventure travel international which will position in a better way as they are highly specialized in the field of travel and tourism and the company can generate the majority of income from this segment. Moreover, these services will offer to provide benefits to the tourism stakeholder and the society on a large scale. In addition to that, this organization will be handling by the various professional staffs and further governed by the board of directors, which nominated by the stakeholders. Under the global market, the companies are not gaining as much as they are trying to gain because the companies are affecting to cover more areas of the world and they are not sustaining their quality of the products and this issue has decreased their performance as they are willing to manage the productivity. Moreover, consumers can easily understand the products because it is developed based on consumer perception. In addition to that, the company should make joint ventures and strategic alliances to improve the tourism development in Malaysia. It will give confidence both domestic and international tourist to explore the resources of Malaysian tourism.
Introduction
Adventure travel international is the full service travel agency, which is dealing in the travel and tourism, which provides recreational travelling services with professional consultation and services. Adventure travel international will position in a better way as they are highly specialized in the field of travel and tourism and the company can generate the majority of income from this segment. Moreover, these services will offer to provide benefits to the tourism stakeholder and the society on a large scale. In addition to that, this organization will be handling by the various professional staffs and further governed by the board of directors, which nominated by the stakeholders. Furthermore, the nominated board of directors will review this business on an annual basis to develop those goals and objectives. These control steps are also part of this business plan.
Company History in Malaysia
Preference to adventure tourism is increasing in Malaysia for the past decade. The nation is further boosting its economy by introducing further travel and adventure sports in the nation. The tourism industry began to grow from the 1960s in Malaysia. PATA conference in 1972 helped in propelling tourism in Malaysia to an international recognition. This company adds to the options available to the visitors who want travel adventure. Every new company must have a company secretory and he/she must be a member of a professional body or have a licensed by SSM Malaysia. Full payments are necessary after signing of all documents and the form 48A needs attestation. The commissioner also attests the Oaths on the Memorandum and Articles of Association by Inland Revenue Board.
Goals and objectives of Business plan
Following are the aims and objectives for this business plan
Objective 1: Increase tourist visits and economic impact of the company
* Promotion and advertising: To perform the five-year marketing plan and yearly marketing plan to accomplish the desired results.
* Development of product: To analyze the target market for the products and analyze the up-and-coming target markets to develop strong products.
* Marketing Research: Develop a research plan, which include latest trends, product development strategies with the relevant models and tools.
* Awareness: Develop the awareness about tourism in society so that the company can contribute economically to the region.
Objective 2: Develop and Implement a financial sustainability plan
* Maximize stakeholder wealth 5% in coming years
* Develop those activities, which convince government and political institution for the development of tourism, trade, and investment.
* Expand their operational activities all over the region
* Support the government to achieve their goals in the development of the tourism by 2015
* Implement those activities which are assessing on the basis of performance
Objective 3: Add additional value to customer experiences
* Expand awareness about tourism in society to gain the economic and environmental contribution towards the development of society
* Explain the value of the government, stakeholders and society
* Sustain and enhance the customer satisfaction
Industry Analysis
Akal (2004) argued that, tourism industry in Malaysia is exceedingly complex and difficult to understand. The industry involves in the wide range of business which are working at a different level such as service stations, hotels, motels, travel agents, and tour operators. In Malaysia tourism industry all about gaining experiences which involve a number of steps which are;
* People should be motivated to travel
* People should have wide idea about the their holiday and about the different places where they can spend holidays
* They should have enough knowledge about the booking of accommodation, travel, tours etc.
* Services providers should provide excellent products to their customers
* Malaysian Tourism Industry terms
* Like other industries tourism industry if Malaysia has its own language, some of the more commonly used terms are;
Products and services
Alegre and Pou (2006) said that, in this category so many things include which have a wide range tourism products and services which are offered by the company to its customers such as day tours, holiday’s packages, hotel services and facilities, resort or motel etc.
Operators
There are many organizations which is operating within the industry for instance transport operators, travel agents, hotel and restaurants and souvenir shop these entities provide a wide range products and services.
Retail agents
Retail agents include many travel agents and other similar outlets such as travel agents, Western Malaysian visitor center, and other local visitor center.
Whole sellers
In this section wide variety of packages which are offered by different companies such as different parts of holidays, day tours and travel agents. These sellers sell their services through the retail agents on the basis of commission.
Growth of the industry
Algieri (2006) argued that, in the tourism industry, so many companies are expanding their business over the world. So many times, the companies are doing this because of the cost efficiency and chances to grow their profitability and productivity. In today’s industry, the companies are able to overcome the rapid opportunity for growth and development. The companies are enables to respond against the opportunities and they can cover more geographical areas through adopting the effective and efficient marketing strategies, as well as the companies are looking forward to expanding their business over the world through advanced technology. The technology has increased the efficiency of the companies to perform their tasks in more areas and gain higher customers and demand. The technology has also affected the production cost of the companies and companies are enabling to earn higher profitability and productivity ultimately. Alonso, Fraser and Cohen (2007) argued that, globalization has also played a vital role in the success of the companies but on the other side the companies has to face higher competitor by its competitors, and they are putting their higher efforts to make their performance fit and achieve their goals by having more shareholders in the market. The technology has also affected the production cost of the companies and companies are enabling to earn higher profitability and productivity ultimately. Globalization has also played a vital role in the success. Baltagi (2008) said that, the multinational companies are moving towards the mass scale production because of the development of technology so that they can make the superior and higher quality tourism products and services so that they make the consumers more comfortable and satisfied. The companies which are using old fashioned multinational operating business model are also shifting towards a new development because they want to produce products which are unique and follow the needs and demands of their consumers.
Managerial Strategies i...