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Profit Making

Preamble

This document is a research proposal based on a travel and tourism as well as the service industry. The topic question, (How is the level of profitability maximized. was adopted from Kohlbacher, M. (2009): Tourism is one of the foreign exchange earning sectors that is often equipped with the most current technologies in the services oriented industries. Istrategically chose this area of research to act as an adequate representation of the actual business world owing to its comparatively average transactions. With new competitive practices being introduced in these sectors, I will be particularly interested in  finding out which of these practices have direct bearing on profits and how  the factors of production are  manipulated within limiting factors to make profit a reality.

Abstract

I have broken down the research process is into subsections each aiming to achieve the objectives chosen to give a guideline of the study process. The research aims at drawing a clear understanding of profitability in the tourism sector. The objectives I have chosen aims at having a clear preview of the process leading to profit making in the sector in accordance with government policies. In addition the objectives aims at projecting future trends that would help boost activities of the organizations. I prepared a set of  study hypotheses in accordance with existing theoretical knowledge on company profitability, consumer needs, customer care as well as the future business world.

Introduction

I will bear in mind that in the business world, many factors come into play to dictate the market conditions. It is these market conditions that dictate the nature of profitability of any given firm that will comprise the basis of my research .I will focus my attention on the susceptibility of tourism and consumer service industries to these fluctuating market situations. I will focus my attention on the role technology plays in diverting the effects of the prevailing market conditions from the business activities. The business organizations in these fields must keep on being focused. This aspect of remaining focused to the core function of the organizations will also be a matter of great concern to my research. To maintain this focus I aim at critically analyzing all these factors in a barely ideal situation. The understanding of the origin and the nature of the sector in relation to their profitability comes in handy to project any future trends under a variety of factors.

I will aim at using the knowledge collected in improving the tourism and customer service industries. Without an understanding of the particular aspects promoting and those underrating profitability the sector will continue being on the receiving end as a sector that does not take advantage of the opportunities available to it as a foreign exchange earner. What makes this research significantly important is the position of tourism as a sector in the contemporary business world. Tourism and the service industry as a whole set the pace of foreign business in any given nation explaining the significance of my research. Foreign exchange in return dictates the position of internal trade. This research would therefore help improve the business world as a whole and more specifically boost tourism by making viable recommendations relating to pricing, management, equity among others in relation to the sector.

The study problem:

Have the changes in technological advancements in these fields affected profitability of these industries? As posed by (Brocke & Rosemann, 2010)? I have adopted a comparative approach where I intend to compare two leading organizations, first group plc, a leading transport operator in the UK and America and Priceline.Com, a parent booking company from Europe. I intend to compare the two in terms of their background, equity, sales, pricing, technology and a variety of managerial aspects. I intend to solve the problem by carrying out a systematic analysis beginning with an ideal business situation to the complex and often fluctuating market conditions .The approach taken involves identification of suitable research methods for collecting, recording and analyzing information. These methods include use of interviews, questionnaires, comparative analysis among others. I chose these methods in such a manner that will enable collection of data from the companies through their websites, related companies through real interviews and from records such as journals. My thesis statement depicts the fluctuating market conditions as a factor that can be harnessed to increase profitability.

Literature review

Baring in mind the many efforts that have been put into place by various people contributing to the theory available in the area of interest and the volumes of work lying in libraries my research wouldn’t have come at a more timely moment than this. I will confine my study on a variety of consumer theories ranging from simple customer care policies to international business standards set for foreign trade. Some of the theories involved include the pricing mechanisms of demand and supply, foreign trade and foreign relations, Ricardian theory-profit, Hawler’s risk theory of profit among others.

Methodology

The success of this research is pegged to the reliable of the methods that I have adopted for use in collecting, recording and analyzing data. The techniques  I have chosen for use are hereby briefly described: Surveys-  I will selection  a few related companies for analysis on various aspects. Interviews- I will carry out face-to-face interaction with various people to get hands on knowledge on the field of study, this includes online interaction with the two organizations outlined. Secondary data from- I will also look for information available about market reports, financial and legal credentials, organizational charts, publications speeches, among others related to the organizations. Most of these reports come from the company websites. I will structure the research to run for a period of four months research from the date of approval of the proposal. The major tasks I have selected include:

  1. Feasibility study-Two weeks
  2. Data collection and, recording - scheduled for one month
  3. Analysis- One month
  4. Report writing-Two weeks

Conclusion

I expect that my research will be used to bring into light the most effective practices that lead to the generation of profits in the service industry. I will also identify areas of weaknesses in the organizations and suggest possible remedies that will help boost profitability in coming days. I also intend to recommend these practices to other organizations with related mandates. This will help synchronies the volumes of information available in libraries with the current business world. My research will go beyond mare theoretical principles involving pricing, equity and management and test their application in a real life business situation. My major objective will be to breach the gap existing between theoretical and practical business approaches. Over the years there are major disparities that have existed between profitability and consumer service delivery in theoretical perception and actual business situations a situation I intend to help resolve through my research.

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