Booking system Lab Report Example | Topics and Well Written Essays - 1000 words

Booking system - Lab Report Example Booking system The managers should adopt a strategic perspective to utilise technology in tourism. There should be excellent communication between tourist boards, agencies and convention bureaux. The managers should ensure that they improve facilities, legitimate distribution channels, and transport access to meet the needs of the growing global trade in the industry. Conferences are extremely vital since the organization need to continue generating revenue. The conference will provide valuable information regarding the management and implementation of a new booking system for the industry and, therefore, very vital for managers to attend. The buyer This refers to one of the main stakeholders who operate in the MICE industry. They are the planners, and may refer to the organization that holds the event, which is a non-routine occasion. With the help of the intermediaries, the buyer organizes an event meant to educate people. Buyers include corporate who are profit oriented, associate who are not in terested in profit, the government, and others who include entrepreneurial and academic buyers. Characteristics of the buyer The buyers identify the emerging issue in the market that existing organizations should adopt. They then create an event to communicate the information to the people. They sell places to the people who have an interest in attending. The buyers have an orientation to provide services to members. The buyers can be either international or national provided they possess the necessary experience. They should select destinations in rotation and have a long decision making process. The delegate Refer to the people who attend an event and may include presenters. An event is a non-routine occasion that people set apart from daily life activities. The Delegates are the consumers of the information that the buyers present. Characteristics of the delegates They should expect the buyers to charge them a fee to meet the costs of the event. The buyers should consider the del egates when deciding the venue to hold the event so that it takes place in a favourable place where the delegate wishes. This will increase the probability of the attendance of the venue. They expect the buyers to charge them a sensible price, and hence the buyers have to sensitive when deciding the price to charge them. They also expect quality delivery of information regarding the benefits of the new booking system in the industry. The buyers have a duty to ensure that they analyze and explain various areas of concern. Suppliers These comprise destinations, venues, and support suppliers who include audio-visuals contractors. These are tremendously influential and actively involve by providing the conference facilities. Transport operators and telecommunication companies play a vital function in ensuring that the event is successful (Buhalis 18). Additional suppliers The suppliers are supremely beneficial in facilitating the performance of the conference. They play a crucial role i n providing transport facilities to the delegates, venues, accommodation, local businesses and food and beverage. They will ensure that the delegates acquire all the necessary materials that they require during the two days of the event. For the tourism industry to perform efficiently, they have to ensure that the state develops

Economic implications of the EU's single currency on German economy Literature review

Economic implications of the EU's single currency on German economy - Literature review Example In response to globalization, the initiative of the European Commission back in 1969 was put in place to coordinate the economic policies as well as to set a monetary integration among the European Union. On the 1st of January 1999, the ‘Euro’ (â‚ ¬) was launched in the world money markets. Since then, Euro has become the unit of exchange for the EU states except for the United Kingdom, Sweden, and Denmark (Central Intelligence Agency, 2011). The decision behind the European Union is to make the inter-regional and inter-state trading much easier (European Commission. The EU Single Market, 2011). Back in 2007, the goal European Commission has proven to be very successful. Implementing the ‘Euro’ (â‚ ¬) currency in 1999 was part of the strategy used by the European Union to achieve their purpose of making the inter-regional and inter-state trading much easier. Located in Frankfurt in Germany, the European Central Bank was made responsible for the impleme ntation of monetary policies and exchange rate policies throughout the European monetary union (Carbaugh, 2009, p. 280). Likewise, it is the European Central Bank that controls the supply of euros aside from setting its short-term euro interest rate or maintaining a fixed exchange rate for all members of the European Union (ibid). ... To give the readers a better understanding concerning the research topic, this report will first provide a brief overview concerning the economic condition of Germany before and after the country was required to use a single EU currency. As part of conducting a literature review with regards to the potential economic impact of centralizing the currency, this report will focus on discussing the advantages and disadvantages of using the Euro (â‚ ¬) currency in the economic performance of Germany. Finally, the economic consequences associated with using fixed exchange rate policy will be tackled based on the historical experiences of other countries. Brief Overview on German Economy Before and After the Use of EU (â‚ ¬) Currency Back in the 1950s, the economic situation in Germany was highly dependent on the exportation of agricultural and industrial products. In 1988, West Germany and East Germany were exporting a total of US$323 billion and US$30.7 billion worth of different agr icultural, mining, and industrial products respectively (Boyes, 2007). Since there was a high demand for food and non-food products manufactured in Germany, East Germany was able to maintain zero unemployment rate for quite some time (ibid). Despite the fact that the inter-regional and inter-state trading was made easier among the European Union (European Commission – The EU Single Market, 2011), Germany started to go through a series of economic problems. After the single currency was implemented in Germany, the country started to experience economic stagnation in the 2000s combined with a constantly increasing high unemployment rate (Merkel, 2009; Boyes, 2007). Since there were a lot of