Business administration can be elaborated as the process of evaluating operational and executional activities of the company. It is very beneficial for all the enterprises as it helps to assess that it is able to meet all its goals and objectives or not. Overseeing and supervising are the main components of it that helps the managers to get insider information of the organisation (Business administration,2019). The enterprise which is taken for this assignment is The Global Work which is travel company founded in year 2008 by Pierre and Jurgen Himmelmann. In this project report, various topics are discussed such as explanation of budgetary or policy constraints, financial arrangements related to business travel, visas, procedure for exchanging foreign currency etc. Identification of different suppliers, recommendations related to travel arrangements, suppliers that best meet requirements, confirmed necessities of accommodation, preparation of itinerary and organisational policies have also been covered in this report.
1.1 Budgetary or policy constraints relating to business travel or accommodation
Budgetary or policy constraints can be defined problems that are faced by the organisation while trying to manage funds to operate business. For business travel or accommodation organisations such as The Global Work, the main constraint is restricted data for forecasting and predicting future costs and revenues. This issue may take place if the organisation is not able to get appropriate information from different sources such as past profits, properly formulated annual reports etc.
Currently The Global Work is developing plans for the customers in which different types of travelling related packages are offered to them. Another constraint that may take place in future is related to the accommodation which is provided according to income of the customers. Sometimes the organisation faces issues to offer them appropriate deal in their budget which also affects its budgetary policy because changes are required to be made (Zeleny, 2012).
1.2 Financial arrangements relating to business travel or accommodation
It is very important for organisations like The Global Work to make financial arrangements in order to deal with issues that may take place in future. For this purpose different types of arrangements can be made that may help to resolve all of them. These are described below:
- The organisation may keep a reserve that can be used in financial crisis in order to overcome them.
- The Global Work can analyse its budget twice so that unnecessary expenses can be reduced and the funds can be used for necessary objectives.
- The company may apply for loan in order to operate business smoothly (Schiederig, Tietze and Herstatt, 2012).
1.3 The way in which arrangements for visas and related foreign travel documentation can be made
When companies like The Global Work are willing to acquire a visa for employees or customers of a specific country then it is very important to make sure that they are having sufficient funds and time. Another thing which is required to be consider is to arrange all the required documents. These vary according to the travelling destination and different types of forms also have to be filled. When it has been identified that what documents are required then organisation needs to arrange them from their local embassy. As the main requirement is passport and for this purpose specific papers are needed including identity proof, domicile, no criminal record certificate etc. When it is issued by the authority then visa can be applied by gathering all the appropriate documents (Moulaert, 2016).
1.4 Procedures for obtaining or exchanging foreign currency
While willing to exchange or obtain a foreign currency organisations need to follow a specific process so that it can be exchanged appropriately. All the steps for the procedure that should be followed by The Global Work while exchanging currency are as follows:
- Analyse exchange rates: First of all if The Global Work is willing to exchange the currency then it is very important to analyse the current exchange rates so that appropriate decision can be taken. It is also essential to make sure that if any broker is chosen to convert the currency then any fraud does not take place.
- Finding a place to exchange money: Secondly, the company needs to find the best place to convert the currency. It can be exchanged from banks, building society, post office, bureau or a travel agent. From all these options a particular mode can be selected that best suits the requirements (Miller and Fox, 2015).
Both the above described steps are required to be followed by the business entities which are willing to exchange their currency while travelling somewhere.
2.1 Identification of different suppliers that are capable of delivering service required within budget
As The Global Work is a travel company that provides holiday packages to the customers in which their rail, bus, car, hotel, resort etc. expenses are included. The organisation is planning a tour of 3 days in which it will take customers to the tour of London. It is very important for the company to identify best suppliers for services that are going to be rendered to the customers. For organisation it is essential to find such suppliers which may deliver services in budget which is set by the management. These are mediators, owners of hotels or resorts, travel agents, car rental service providers etc. All of them helps The Global Work to execute its operations successfully and satisfy all the customers (McCreery and Yamaki, 2014).
All of them helps the company to render such services to the customers that they want to add in their package. Majorly clients want to book their hotels in advance so that they do not have to face issues when they visit the country or a state. For The Global Work it is very important to maintain good relations with all of them so that services can be bought form them on appropriate prices.
2.2 Recommend travel or accommodation arrangements that best meet the requirements
As The Global Work is a travel agency and it is planning a tour of London for customers so it has to make different arrangements for them, so that they may comfortably visit the places they want. If the organisation get success in fulfilling all the desires of clients then it may help to appropriately execute business operations. All the specific arrangements that are required to be maintained are as follows:
- The organisation needs to make sure that all the bookings that are made by the clients has been confirmed or not (Marin-Garcia, Martínez-Gómez and Giraldo-O’Meara, 2014).
- Employees of the company are required to arrange cab or other rental services to receive the clients at airport or railway station.
- The Global Work have to make arrangements regarding accommodation services of customers such as their hotel bookings.
- The company has to make its own website and email id that can be provided to the interested people so that they can use it later or give reference to others.
- Arrangements regarding cancellation is also required to be made so that if customers cancel their booking then it can be done easily.
It has been recommended to The Global Work to make all the above described arrangements in order to satisfy the customers and meet their expectations. For all the business entities it is essential arrange appropriate resources so that business can be operated appropriately.
2.3 Recommend suppliers of travel or accommodation that best meet the requirements
There are various suppliers that may supply adequate services to The Global Work in order to operate business activities and execute all the plans that are made by it. It is very important for the enterprise to identify the best suitable from all of them so that all the requirements can be met. As The Global Work has planned to conduct a tour of London and it is very important for the managers to be in contact with different suppliers these are hotel owners, travel agents, cab service provides etc. The customers who buy travel package from organisation they want that they should have proper cab service and a hotel where they may relax. In order to fulfil all the requirements of the customers The Global Work may contact to car rentals companies and hotels. It will help to satisfy all the clients by providing them good services that they are willing to acquire (Lerner and Malmendier, 2013).
It has been recommended to The Global Work to always be in touch with hotel owners so that appropriate services according to customer's requirements can be met. If it is not having sufficient suppliers then it is not possible for the organisation to execute operations and attain profits.
3.1 Confirmation regarding requirements for travel or accommodation
There are various types of requirements of travel or accommodation related business. It is very important for the organisations like The Global Work to analyse all of them and then arrange sufficient resources to fulfil them. All the requirements are described below:
Sufficient funds: It is very important for The Global Work to have sufficient funds so that business can be executed appropriately. If the company is not having monetary resources then it will affect the efficient to conduct operational activities. Sometimes clients plan to pay the amount in instalments and organisation have to pay all the expenses for their booking to hotels in advance. In this situation if the enterprise does not have money then it may harm the business.
Appropriate number of suppliers: For all the travel companies such as The Global Work it is essential to have suppliers which may provide them services that can be rendered to the customers. When an organisation does not have appropriate providers then it is not possible for it to satisfy all the clients because their requirements cannot be fulfilled.
Well educated and experienced staff members: Travel or accommodation organisations such as The Global Work it is vital to hire well educated and skilled employees that may help to achieve growth and success. This type of companies provide packages to local and international customers hence the staff members needs to interact with them in their local language. If the workers are not educated then it is not possible for them to deal with all the clients (Ionescu, 2015).
All the above described points may describe the major requirements of travel or accommodation related businesses. It is essential for The Global Work to have sufficient resources so that all of them can be fulfilled.
3.2 Arrangements that specify any limitations, prohibitions or responsibilities and which meet the requirements
There are various types of arrangements that are required to be made by travel or accommodation related companies like The Global Work. Some of them have limitations, prohibitions or responsibilities but they meet the requirements. The major from all of them is related to hotel bookings. Limitation for this is that the customers have to bring their own identity card if they are not having it then the manager won't allow to check in. Prohibition for it is that the room cannot be booked by minor people because hotels does not allow them alone without any guardian (Gokmen and Ozturk, 2012).
In most of the hotels unmarried couples are not allowed but now people go on tours with their friend circle and when staff don't allow them to check in then they will complaint to the travel agency where they have booked the package. There are various limitations and prohibitions related to this arrangement but it can meet all the organisational requirements. Most of the customers prefer to book their room in advance so that they may ignore the problems that may take due to late bookings. It is very important for The Global Work to take all the limitations and prohibitions while selling any package to the clients. It may help to deal with all the issues that may occur due to these boundaries.
3.3 Preparation and issuing itinerary or schedule documentation that reflect agreed arrangements accurately
Itinerary can be defined as the document that provides an overview of a plan. As The Global Work is selling holiday and travel packages to the customers and when the bookings for it is confirmed by them then they prepare an itinerary or a schedule for their tour. Detailed information regarding their plan is incorporated in it. While formulating it the managers of the company needs to analyse the whole package which is chosen by the client. It includes the data of places where the guest is going to visit one by one, arrangements related to hotels, restaurants, cars rentals etc. are also covered in itinerary (Fischer and Fröhlich, 2013). An example of this for 3 days tour is as follows:
London Eye+ River cruise
Tower of London+ Tower bridge
St. Paul's cathedral+ Sky garden
It is an itinerary which is provided to all the clients of the organisation so that they can get exact information of their trip. It can be sent by main or a hard copy can be provided to them when they land to the location. For all the visitors it is very important as it helps them to analyse that they are going to visit all the places that they have mentioned while buying package from the organisation.
3.4 Travel or accommodation documentation within the required timescale
It is very important for all the companies like The Global Work to make sure that all the customers who have bought the package are having the required documents. It is the main responsibility of that travel agent who have interacted with the clients. If they do not have these papers then it may put them in trouble. In case of international tour, the documents that are required are an identify card, passport, visa, travel insurance etc. The employees are required to analyse that the customers have all the required things to travel.
If the client does not have one of them then the government will not allow to stay in the country where they are going to visit. To travel with no interference the customers of The Global Work should have the documents. In case of loosing one of them they are required to file a complaint so that these can be find by the police. For example, there is a tour of 3 days from 10 February 2019 to 12 February 2019 and many people are planning to go on the trip and applied for it. In this situation employees of The Global Work have to provide them specific guidelines and time limit in which they may arrange all the documents. If these are not arranged by them in giver period then it is not possible for them to be the part of tour (Chen and et.al., 2014).
3.5 Confirmation regarding acceptability of payment to be made within the limits of own company
The Global Work is a travel company which is established in UK. Its customers are from different locations hence it is not possible to take payments in cash from them. For this purpose the organisation provides them different options these are online payment, CHAPS, bank transfer etc. The customers may select on of them to pay their amount.
All these alternatives are provided to clients in order to establish an easy payment method for them. Money is accepted by the company within limits of its own authority because for online defrayal specific code is provided to them in which it can be received instantly and booking can be confirmed by them.
3.6 Up-to-date record of travel or accommodation arrangements and agreed commitments
For organisations like The Global Work it is very important to keep up to date records of all the arrangements and commitments so that satisfaction level of customers can be enhanced with a higher percentage. It also helps them to analyse that the company is having such services that may meet their expectations. There are various types of benefits of it for the organisation because it can result in large number of customers as they get up-to-date information regarding all the plans that are offered by The Global Work.
If the enterprise is keeping record of its agreed commitments then it may help to provide detailed information to the customers who have contacted to buy a package. For Global Work it is very important to keep such records so that clients can be satisfied and appropriate packages according to their requirements can be provided to them.
3.7 Adhere to organisational policies and procedures, legal and ethical requirements when making business travel or accommodation arrangements
It is essential for organisations like The Global Work to adhere all the organisational policies, procedures, legal and ethical requirements so that business can be operated appropriately. According to law the travel companies should check all the relevant documents of the customers who are visiting to a country by purchasing a package form them. If any issue regarding their papers take place in future then strict action can be taken by the legal bodies against them.
Ethical requirements for the company is that it should offer appropriate prices on all the packages and does not set inappropriate amount for it. If all of them are not followed by an organisation which is related to travel and accommodation then it is not possible for them to operate business without governmental interference (Carpenter and Krause, 2012).
From the above project report it has been concluded that business administration is the process in which top authorities of a company analyse that it is performing good or not. It is very important for all the organisations keep track report of operations in order to assess that organisational goals can be achieved in future or not. Managers of the companies are responsible to accomplish all the tasks successfully and determine requirements of enterprise so that all the resources can be arranged in order to execute operations.
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